Every year, the Federal Reserve conducts a massive survey of American households to paint a portrait of their economic habits and spirits. The recently published findings for 2017 are worth examining for what they say about who should — and shouldn't — get credit for the resilient U.S. economy.
There is nothing unusual about this. When the economy does well, presidents of both parties routinely brag about the results. Trump did just that last week with the latest jobs report. But as I — and many other commentators — have written, the $20 trillion economy is simply too big and complicated to be easily manipulated for partisan advantage.
McCulloch v<span>. </span>Maryland<span> (1819) is one of the first and most important </span>Supreme Court cases<span> on federal power. In this </span>case<span>, the </span>Supreme Court<span> held that Congress has implied powers derived from those listed in Article I, Section 8. The “Necessary and Proper” Clause gave Congress the power to </span>establish<span> a national bank.</span>
