The State of Social Security Introduction Social Security has paid out more in benefits than it collects in payroll taxes every year since 2010. It covers the difference by drawing on its trust fund. That is not supposed to be a crisis. The program spent a quarter century building that reserve for exactly this, and it still holds trillions. … Continue reading
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America Doesn’t Have a Debt Problem. It Has a Political Problem.
Executive Summary Introduction With 9 out of 10 Americans concerned that rising debt is driving up the cost of living, the needed reforms seem greatly out of reach as Congress battles harsh partisanship and political imbalance. As public debt exceeds $31.99 trillion and annual budget deficits approach $2 trillion, concerns about the nation’s long-term fiscal … Continue reading
UNCLOS and Arctic Seabed Competition: Does U.S. Non-Ratification Strengthen or Weaken Its Position Relative to Russia?
Executive Summary: Introduction: The Arctic seabed is emerging as a strategic frontier for resource competition as climate change expands access to previously inaccessible offshore reserves. As this shift accelerates, Arctic governance is increasingly structured by the United Nations Convention on the Law of the Sea (UNCLOS), which governs continental shelf claims and seabed resource jurisdiction. … Continue reading
The New Oil: How the Shift to Renewables Trades One Dependency for Another
Executive Summary Introduction On May 18th, 2022, European Commission President Ursula von der Leyen launched the REPowerEU Plan, which was intended to make Europe independent from Russian fossil fuels as quickly as possible. Her argument was that Europe could not keep relying on a supplier it no longer trusted, and that the solution was to diversify its energy supply and speed up the shift … Continue reading
The Medicaid Work Requirement Debate Isn’t Just About Work
Executive Summary Introduction Reforms to Medicaid made under the One Big Beautiful Bill Act (OBBBA), signed on July 4, 2025, have reignited longstanding debates over whether public health insurance for low-income adults should be conditioned on work or work-related activity. The policy’s implementation through a requisite 2026 CMS rule requiring 80 hours per month of … Continue reading
Why Are Most Nicotine Pouches on Sale Illegal?
Executive Summary Introduction At U.S. gas stations, the nicotine pouch shelf runs dozens of brands deep, at every strength. The Food and Drug Administration (FDA) has cleared about two dozen of them, all at the lower-strength end. Almost everything else on that shelf is, under federal law, illegal to sell. The word suggests that the government examined these … Continue reading
Hedging Their Bets, BRIC by BRIC: How Trump’s Tariffs Have Incentivized Diversification
Executive Summary Introduction Trump’s tariffs were intended to reduce U.S. dependence on strategic competitors and redirect trade flows back toward the United States. In practice, they have also encouraged many emerging economies to diversify their economic relationships. As tariffs increase the cost and uncertainty of relying on U.S. markets, countries have expanded trade with alternative … Continue reading
Why the Bourbon Industry Is Fighting the ‘Straight Bourbon’ Label Rules
Executive Summary Introduction Bourbon is a distinctive American whiskey with strong cultural associations tied to tradition, regional identity, and social drinking contexts. It is also one of the few spirits in the United States defined by federal standards of identity administered by the Alcohol and Tobacco Tax and Trade Bureau (TTB). While bourbon is often … Continue reading
How Do Regulations Truly Affect the Airline Market?
Executive Summary Introduction On May 2, 2026, Spirit Airlines declared that it would shut down, stating that it would begin winding down operations effective immediately. This sparked surprise and curiosity in many consumers, causing many to question if the market would benefit from increased government regulations and even urge intervention. However, regulations have historically been ineffective and caused more detriment than benefit. Factors in Regulation When making decisions regarding airline … Continue reading
What Really Drove the M&A Rebound?
Executive Summary Introduction Since Donald Trump took office in January 2025, mergers and acquisitions (M&A) activity has spiked. In 2025, total U.S. M&A transaction value increased roughly 50 percent year over year, and the U.S. recorded four mega-mergers valued over $40 billion each in 2025, compared to none in 2024. In 2026, transactions over $100 … Continue reading
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