Free Republic

The commentary in a recent Wall Street Journal by Senator Phil Gramm and Representative Jeb Hensarling did the nation an immense service by dismantling the persistent myth that private market greed and financial deregulation caused the 2008 financial crisis. As they rightly pointed out, inflation-adjusted mortgage rates during the bubble era were historically high, and financial institutions were suffocating under increasingly strict federal mandates, not running wild in a deregulated vacuum. Yet, for nearly two decades, the public has been fed a completely fabricated baseline narrative. Having served as the Chief Economist at the Department of Housing and Urban Development...

Thank you very much. It’s an honor to be here, and I’d like to thank the Ronald Reagan Presidential Foundation and Institute for inviting me to join you. Of course, this year’s forum carries special significance as we celebrate 250 years of the American story. But milestones of this magnitude demand more than ceremony. They ask something of us. They invite us to reflect not just on the creation of our country, but on its condition. And as we focus today on America’s economic future, they compel us to confront—and correct—decisions that have diminished our sovereignty in recent decades. President...