Inflation seems to be the theme of the day:

#Inflation – American Action Forum President Douglas Holtz-Eakin on the Biden Administration’s incoherent response to inflation.

#Inflation – Speaking of, Larry Summers has warned, not implausibly, that the proposal to replace much income taxes by tarriffs would lead to a big surge in inflation.

#Inflation – Some people have suggested the Fed should raise its inflation target. That’s a bad idea, argues AEIR’s Alexander William Salter.

#Inflation – Meanwhile, on the doveish side, Bloomberg’s Joe Weisenthal worries the Fed might be erring on the other direction.

In other news…

#AI – AEI’s Michael R. Strain making an important point: “Encouraging Work Is the Right Policy Response to AI“

#Fraud – From Reason magazine: “‘Vast Majority’ of Pandemic Employee Retention Credit Claims Are Likely Scams, Says IRS“

#Immigration – A recent DHS Office of Inspector General report found that DHS is failing to adequately screen and vet inadmissible aliens entering the U.S. More.

#Immigration – Center for Immigration Studies’ John Miano on the obvious pitfalls with a recent suggestion to “staple green cards” to college degrees.

#Law – The invaluable Ramesh Ponnuru has a recent an important article on how originalism as a legal doctrine is as strong as ever.

#Labor – From The Federalist‘s David B. McGarry: “The Supreme Court just quashed a bid for pro-union favoritism. […] Writing for his colleagues, Justice Clarence Thomas held that, to win injunctions against employers allegedly engaged in unfair labor practices, the National Labor Relations Board (NLRB) must meet the same legal standards as anybody else.” More.

#Spending – Three spending bills–Defense, State-Foreign Operations, and Homeland Security–are before the House Rules Committee this week. More.

#Life – “Bob Casey’s Pro-Life Betrayal“

Chart of the Day

This morning we were rereading, for no particular reason, Sen. Rubio’s report on “American Investment in the 21st Century,” and came upon this telling chart:

Meme of the Day