Why the Trade Arithmetic Favors China
Kaushik Basu, PhD.
Former Chief Economist of the World Bank and former Chief Economic Adviser to the Government of India
The biggest risks facing the world economy today stem from the escalating trade war between the United States and China. In the past few weeks, the threat has gained greater salience: As negotiations have stalled and tariffs have risen, markets around the world have registered tremors of concern. Yet most commentators fail to recognize the kind of effect an all-out clash would have on the U.S. economy, and on the world.
Social Security Does Much More for Disadvantaged Children than Temporary Assistance
Senior Policy Fellow at the Center for Economic Policy and Research
If you listen to Social Security’s critics, it’s easy to come away thinking that Social Security is a system of generational theft in which Boomer parents and grandparents steal from their children and grandchildren. At the same time, many of these same critics point to the Temporary Assistance for Needy Families (TANF) block grant as a model social program for families.
Yet, Social Security does much more to help kids today than TANF. Although Social Security is typically thought of as a retirement program, minor children are eligible for direct benefits if one of their parents is an insured worker who has retired, become disabled, or died. In 2018, nearly 3 million children under age 18 received $20.9 billion in Social Security benefits. The number of children receiving Social Security has been relatively stable in recent decades. For example, in 2000, roughly 3 million children received benefits.
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