Oil Quotas, Import Fees? No, Get Back to Work

Oil Quotas, Import Fees? No, Get Back to Work
(AP Photo/Alex Brandon)

America’s economy is a massive beast. With just 4.3% of the global population, the U.S. produced 25% of the world’s GDP in 2019. As Mark Perry, a scholar at the American Enterprise Institute, points out, four America’s states combined (California, Texas, New York and Florida) each produced more than $1 trillion in output and together as a separate country would have ranked as the world’s third-largest economy.

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