January 18, 2011
 
 
The Honorable John Boehner    The Honorable Harry Reid
Speaker of the House              Senate Majority Leader
Washington, DC 20515            Washington, DC 20515
 
The Honorable Nancy Pelosi    The Honorable Mitch McConnell
House Minority Leader             Senate Minority Leader
Washington, DC 20515            Washington, DC 20515
 
 
Dear Speaker Boehner, Minority Leader Pelosi, Majority Leader Reid, and Minority Leader McConnell:
 
To promote job growth and help to restore the federal government to fiscal balance, we, the undersigned, feel that it would be beneficial to repeal and replace the Patient Protection and Affordable Care Act (P.L. 111-148). Too many Americans remain unemployed and the United States faces a daunting budgetary outlook.  We believe the Patient Protection and Affordable Care Act is a threat to U.S. businesses and will place a crushing debt burden on future generations of Americans.
 
A Barrier to Job Growth: The Patient Protection and Affordable Care Act contains expensive mandates and penalties that create major barriers to stronger job growth.  The mandates will compete for the scarce business resources used for hiring and firm expansion. The law also levies roughly $500 billion in new taxes that will enter the supply chain for medical services, raising the cost of medical services.  At the same time that businesses juggle the potential for higher interest rates or higher taxes, these medical costs will translate to higher insurance premiums, further increasing the cost of operating a business in the United States.
 
A Massive Spending Increase and a Crushing Debt Burden:  The Patient Protection and Affordable Care Act is fiscally dangerous at a moment when the United States is already facing a sea of red ink.  It creates a massive new entitlement at a time when the budget is already buckling under the weight of existing entitlements.  At a minimum, it will add $1 trillion to government spending over the next decade.  Assertions that these costs are paid for are based on omitted costs, budgetary gimmicks, shifted premiums from other entitlements, and unsustainable spending cuts and revenue increases.  A more comprehensive and realistic projection suggests that the Affordable Care Act could potentially raise the federal budget deficit by more than $500 billion during the first ten years and by nearly $1.5 trillion in the following decade.
 
The Patient Protection and Affordable Care Act does not constitute real health care reform.  The first step is to remove barriers to stronger job growth and to help restore fiscal balance to the nation’s budget by protecting taxpayers, American business, seniors, families, workers, and health care consumers from the damage that the Patient Protection and Affordable Care Act will cause.
Congress should start with a clean sheet of paper and adopt initiatives that would encourage providers to offer higher-quality care at lower costs; reduce the cost pressures that threaten to bankrupt Medicare and Medicaid; and give every American access to more options for quality insurance.    
 
 
Respectfully,
[Affiliations shown for purposes of identification and do not constitute institutional endorsement.]
 
Douglas Holtz-Eakin
President, American Action Forum
Former Director, Congressional Budget Office (CBO)
 
June O’Neill
Professor of Economics, Baruch College
Former Director, Congressional Budget Office (CBO)
First Chair, Board of Scientific Counselors, National Center for Health Statistics
 
Joseph Antos
Wilson H. Taylor Scholar in Health Care and Retirement Policy American Enterprise Institute
Former Assistant Director, Congressional Budget Office (CBO)
 
Arlene Holen
Senior Fellow, Technology Policy Institute Former Associate Director Congressional Budget Office (CBO)
Former Associate Director White House Office of Management and Budget (OMB)
 
Brian S. Wesbury
Chief Economist, First Trust Portfolios LP
Former Chief Economist, Joint Economic Committee of the US Congress
 
Arthur B. Laffer
Chairman, Laffer Associates
First Chief Economist, Office of Management and Budget (OMB)
Former Member, Economic Policy Advisory Board
 
Jim Capretta
Fellow, Ethics and Public Policy Center
Former Associate Director, White House Office of Management and Budget (OMB)
 
James D. Mietus, Ph.D.
Independent Economist and Policy Adviser
Former Economist, Office of Management and Budget (OMB)
 
Michael Boskin
Professor of Economics, Stanford University
Former Chairman, White House Council of Economic Advisers (CEA)
 
William Niskanen
Former Action Chairman and Member, White House Council of Economic Advisers (CEA)
Chairman Emeritus, Cato Institute
 
 
Earl L. Grinols
Distinguished Professor of Economics, Baylor University Former Senior Economist, White House Council of Economic Advisers (CEA)
 
 
Mark H. Showalter
Professor of Economics, Brigham Young University
Former Senior Economist, White House Council of Economic Advisers (CEA)
 
Scott Baier
Associate Professor of Economics, Clemson University
Former Senior Economist, White House Council of Economic Advisers (CEA)
 
Larry Lindsey
President, The Lindsey Group
Former Director, National Economic Council (NEC)
 
Todd G. Buchholz
Managing Director, Two Oceans Management
Former Senior Economic Adviser, The White House
Fellow, Cambridge University
 
Edward C. Prescott
W.P. Carey Chaired Professor of Economics, Arizona State University
Economist, Federal Reserve Bank of Minneapolis
Nobel Laureate in Economics
 
William Poole
Distinguished Scholar in Residence, University of Delaware
Senior Fellow, Cato Institute
Former President, Federal Reserve Bank of St. Louis
 
Kevin Hassett
Director, Economic Policy Studies, American Enterprise Institute (AEI)
Former Economist, Federal Reserve Board of Governors
 
Mario J. Crucini, Ph.D.
Research Associate, National Bureau of Economic Research (NBER)
Senior Fellow, Globalization and Monetary Policy Institute, Federal Reserve Bank of Dallas
 
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Kathleen B. Cooper, Ph.D.
Senior Fellow at the Tower Center for Political Studies, Southern Methodist University  
Former Undersecretary for Economic Affairs, Commerce Department
 
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Director, Center for Employment Policy
Senior Fellow, Hudson Institute Former Chief Economist, U.S. Department of Labor
 
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Senior Economist, RAND Corporation
Former Deputy Assistant Secretary, Department of Defense
Former Deputy Assistant Secretary, Department of Health and Human Services
 
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President, Encima Global
Former Deputy Assistant Secretary, Treasury Department
Former Deputy Assistant Secretary, State Department
 
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Jeff Montgomery Professor of Economics, Texas A&M University
Senior Fellow, National Center for Policy Analysis
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Professor of Economics Appalachian State University
 
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Professor of Economics
Arizona State University
 
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Professor of Economics
Arizona State University
 
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Professor of Economics and Labor Relations
Ball State University
 
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Professor of Economics
Ball State University
 
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Kennedy Chair of Business
Barton College
 
 
 
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Professor of Economics
Baylor University
 
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Distinguished Professor of Economics
Binghamton University
 
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Professor of Economics
Chair, Department of Economics
Berry College
 
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Professor of Economics
Brigham Young University
 
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Professor of Economics
Cal Poly
 
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Professor of Economics (Retired)
California State University, Bakersfield
 
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Associate Professor of Economics
California State University, Chico
 
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Professor of Political Economy
Carnegie Mellon University
 
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Professor of Economics
Central Michigan University
 
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Associate Professor, Economics
Central Michigan University
 
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Professor of Economics Claremont Graduate University
 
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Claremont McKenna College
 
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Clemson University
 
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Columbia University
 
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Cornell University
 
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Duquesne University
 
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East Carolina University
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Professor of Economics
Eastern Illinois University
 
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Emory University
 
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Graduate Faculty–Economics  
Florida Institute of Technology and Averett University
 
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Distinguished Service Professor
Duquesne University
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George Washington University
 
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Professor of International Finance
McDonough School of Business
Georgetown University
 
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Georgia College & State University  
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Professor of Economics
Georgia Institute of Technology
 
 
 
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Professor of Finance
Georgia State University  
Former Chief Economist, Commodity Futures Trading Commission
 
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Golden Gate University
 
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Hillsdale College  
 
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Professor of Economics
Hillsdale College
 
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Hillsdale College
 
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Hillsdale College
 
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Hope College
 
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Scott College of Business, Indiana State University
 
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Indiana Wesleyan University
 
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Davis College of Business
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Jacksonville University
 
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Assistant Professor of Economics
Kennesaw State University
 
 
 
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Lafayette College
 
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Lafayette College
 
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Lewis & Clark Law School
 
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Louisiana State University
 
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Metropolitan State College of Denver
 
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Miami University (Oxford, OH)
 
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Michigan State University
 
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Missouri University of Science and Technology
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Missouri Southern State University
 
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Professor Emeritus of Economics
University of New Mexico
 
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New York University
 
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Nicholls State University
 
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North Carolina State University
 
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North Carolina State University  
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Professor of Economics
Oklahoma State University
 
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Professor of Economics
Ohio State University
 
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Pomona College
 
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Professor and Chair, Department of Economics and Business
Randolph-Macon College
 
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Director, Civil Society Institute
Santa Clara University
 
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Research Fellow, Hoover Institution
Stanford University
 
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Gleed Endowed Chair, Seattle University
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Professor of Finance
Stetson University
 
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Professor of Economics
Suffolk University
 
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Professor of Economics
Texas A&M University
 
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Associate Professor of Economics
Trinity College
 
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Professor of Finance, Department of Accounting and Finance
University of Alabama in Huntsville
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Professor of Economics
University of Alaska Anchorage
 
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University Research Scholar, Finance and Managerial Economics Department
University at Buffalo
 
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Professor of Economics Emeritus  
University of California, Davis
 
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Goldyne and Irwin Hearsh Chair in Finance, Anderson School of Management
University of California, Los Angeles (UCLA)
 
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Professor of Economics
University of California, Los Angeles (UCLA)
 
Richard Roll
Professor of Finance, Anderson School of Management
University of California, Los Angeles (UCLA)
 
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University of California, Riverside  
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Steven N. Kaplan
Neubauer Family Professor of Entrepreneurship and Finance, Booth School of Business  
University of Chicago  
 
Eugen F. Fama
Robert R. McCormick Distinguished Service Professor of Finance, Booth School of Business
University of Chicago
 
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John Dewey Distinguished Service Professor of Economics, Department of Economics
University of Chicago
 
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Professor of Economics (retired)
University of Colorado at Boulder
 
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Professor Emerita, Department of Economics  
University of Colorado at Boulder
 
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Professor of Finance
University of Colorado at Boulder
 
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Associate Chair & Professor of Economics
University of Delaware
 
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Associate Professor of Economics
University of Delaware
 
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Associate Professor of Economics
University of Delaware
 
James B. O’Neill
Professor of Economics
Director, Center for Economic Education and Entrepreneurship   
University of Delaware
 
C. Thomas Howard, Ph.D.
Professor, Reiman School of Finance
University of Denver
 
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Emeritus Professor  
University of Florida
 
Jeffrey H. Dorfman
Professor, Department of Agricultural and Applied Economics
The University of Georgia
 
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University of Hawaii at Manoa  
Paul R. Gregory
Cullen Professor of Economics
University of Houston
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M.D. Anderson Professor of Economics
University of Houston
 
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Professor Emeritus of Economics and Statistics  
University of Idaho  
 
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University of Illinois at Urbana-Champaign
 
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University of Iowa
 
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Associate Professor of Economics
University of Maine
 
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Associate Professor of Economics and Public Policy  
University of Maine at Machias  
 
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Professor Emeritus
University of Memphis
 
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Professor of Economics, University of Miami
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Christopher Douglas, Ph.D.
Assistant Professor of Economics
University of Michigan-Flint
 
Mark J. Perry, Ph.D.
Visiting Scholar at the American Enterprise Institute (AEI)
Professor of Finance and Business Economics
University of Michigan-Flint
Stephen Parente, Ph.D.
Minnesota Insurance Industry Professor of Healthcare Finance
Director, Medical Industry Leadership Institute (MILI)
University of Minnesota
 
William F. Shughart II
F.A.P. Barnard Distinguished Professor of Economics
The University of Mississippi
 
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Professor and Kenneth Lay Chair in Economics
University of Missouri-Columbia
 
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Professor of Economics
University of Missouri at St. Louis
 
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Professor of Economics, University of New Hampshire
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Professor of Economics
University of North Alabama
 
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Ivadelle and Theodore Johnson Professor of Banking and Finance Emeritus
Marshall School of Business
University of Southern California
 
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 John G. Matsusaka
Professor of Finance and Business Economics
Charles F. Sexton Chair in American Enterprise
University of Southern California  
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Associate Professor of Economics and MBA Director
Franciscan University of Steubenville
 
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Professor of Economics
University of Texas at Arlington
 
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Professor of Economics and Political Economy
University of Texas at Dallas
 
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Assistant Professor of Economics
University of Texas at El Paso
 
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A.B. Templeton Professor and Chairman, Department of Economics and Finance
University of Texas at El Paso
 
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John E. Murray Professor, Department of Economics University of Toledo
Author, Origins of American Health Insurance
 
Richard T. Selden
Carter Glass Professor of Economics Emeritus
The University of Virginia
 
David L. Kendall, Ph.D.
Professor of Economics and Finance
Chair, Department of Business and Economics
University of Virginia’s College at Wise
 
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Associate Professor of Entrepreneurship and Free Enterprise
Vanderbilt University
 
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Associate Professor of Healthcare Management
Executive Director of Health Affairs, Owen Graduate School of Management
Vanderbilt University
 
Floyd H. Duncan, Ph.D. Roberts Professor of Free Enterprise Economics Chairman, Department of Economics and Business Virginia Military Institute  
Robert J. Rossana
Professor of Economics
Wayne State University
 
Glenn MacDonald
Distinguished Professor of Economics and Strategy
Senior Associate Dean, Olin School of Business
Washington University in St. Louis
 
William N. Trumbull, Ph.D.
Professor of Economics  West Virginia University
 
Robert D. Seeley
Associate Professor of Economics  
Wilkes University
 
Dr. Jim Clark Associate Dean Associate Professor of Economics Wichita State University
 
John McArthur
Professor and Chair of Economics
Wofford College
 
Lawrence W. Lovik, Ph.D.
Senior Fellow
Alabama Policy Institute
 
Michael Ramlet
Coordinator – Operation Healthcare Choice
American Action Forum
 
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Resident Scholar
American Enterprise Institute
 
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Resident Scholar
American Enterprise Institute
 
 
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Senior Fellow and Co-Director of the Sound Money Project
Atlas Economic Research Foundation  
 
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Monetary Policy Advisory, Central Banks of Afghanistan, Iraq, Kazakhstan, Kenya, and Zimbabwe
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President
Galen Institute
 
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Chairman
Institute for Global Economic Growth
 
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Resident Scholar
Institute for Policy Innovation
 
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James A. Baker III Institute for Public Policy
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Manhattan Institute
 
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Research Associate
National Bureau of Economic Research (NBER)
 
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President, CEO and Kellye Wright Fellow
National Center for Policy Analysis
 
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Pacific Research Institute
 
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Director, Health Care Studies
Pacific Research Institute
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Partner, Airline Forecasts
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classicalprinciples.com
 
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EconForecaster.com
 
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Robert D. Niehaus, Inc.