A Real Lifeboat for Main Street

(Rawf8/Getty Images)
Although it didn’t realize it then, when it came up with its “lever up” strategy, Congress was building castles in the air.

NRPLUS MEMBER ARTICLE M inor miscalculations can have tragic consequences. A wrong turn by Archduke Ferdinand’s driver triggered the First World War. NASA’s failure to consider what a frost could do to O-rings led to the Challenger disaster. And this March, a misguided attempt to save money caused Congress and the U.S. Treasury to come up with a plan for rescuing Main Street that now seems like the equivalent of dispatching a dinghy to the sinking Titanic.

When it was hatched back in March, the government’s plan seemed like a bargain. Instead of sending CARES Act dollars directly to struggling businesses, Congress gave the U.S.

George Selgin is the director of the Center for Monetary and Financial Alternatives at the Cato Institute.

Most Popular

A Few Cracks in the Progressive Wall

The contemporary progressive agenda — of, say, an Alexandria Ocasio-Cortez, Kamala Harris, Bernie Sanders, or Elizabeth Warren — has rarely appealed to 51 percent of the American electorate. Most polls show opposition to Court packing and the abolition of the Electoral College. Voters don’t seem to like ... Read More

A Few Cracks in the Progressive Wall

The contemporary progressive agenda — of, say, an Alexandria Ocasio-Cortez, Kamala Harris, Bernie Sanders, or Elizabeth Warren — has rarely appealed to 51 percent of the American electorate. Most polls show opposition to Court packing and the abolition of the Electoral College. Voters don’t seem to like ... Read More
Elections

Biden Is Still Underperforming Hillary

On October 20, 2016: Hillary Clinton was up 6.8 in the RealClearPolitics average in Pennsylvania. Today, Biden is up 3.8. (that race only tightened to 2.1 in the last week of 2016.) Clinton was up twelve points in Michigan on that day. Biden is up 7.5 right now. Clinton was up 6.5 in Wisconsin. Biden is ... Read More
Elections

Biden Is Still Underperforming Hillary

On October 20, 2016: Hillary Clinton was up 6.8 in the RealClearPolitics average in Pennsylvania. Today, Biden is up 3.8. (that race only tightened to 2.1 in the last week of 2016.) Clinton was up twelve points in Michigan on that day. Biden is up 7.5 right now. Clinton was up 6.5 in Wisconsin. Biden is ... Read More

Trump: No

Editor’s Note: The following is one of three essays, each from a different perspective, in the latest edition of National Review on the question of whether to vote for President Trump. The views below reflect those of the individual author, not of the NR editorial board as a whole. The other two essays can be ... Read More

Trump: No

Editor’s Note: The following is one of three essays, each from a different perspective, in the latest edition of National Review on the question of whether to vote for President Trump. The views below reflect those of the individual author, not of the NR editorial board as a whole. The other two essays can be ... Read More

Trump: Yes

Editor’s Note: The following is one of three essays, each from a different perspective, in the latest edition of National Review on the question of whether to vote for President Trump. The views below reflect those of the individual author, not of the NR editorial board as a whole. The other two essays can be ... Read More

Trump: Yes

Editor’s Note: The following is one of three essays, each from a different perspective, in the latest edition of National Review on the question of whether to vote for President Trump. The views below reflect those of the individual author, not of the NR editorial board as a whole. The other two essays can be ... Read More
Elections

Why Hunter?

Hunter Biden, Joe’s younger son, has become a fixture of the 2020 race. Since August 27, 2019, Donald Trump has tweeted about Hunter 59 separate times, making his colorful past one of the Trump campaign’s most important attacks on his rival. For many years, Hunter struggled with serious drug and alcohol ... Read More
Elections

Why Hunter?

Hunter Biden, Joe’s younger son, has become a fixture of the 2020 race. Since August 27, 2019, Donald Trump has tweeted about Hunter 59 separate times, making his colorful past one of the Trump campaign’s most important attacks on his rival. For many years, Hunter struggled with serious drug and alcohol ... Read More