[3] On February 9, 2017, Calabria was selected by Vice President Mike Pence to serve as his chief economist.

[4] Before that, Calabria was the Director of Financial Regulation Studies at the Cato Institute; a member of the senior staff of the U.S. Senate Committee on Banking, Housing and Urban Affairs, where he handled issues related to housing, mortgage finance, economics, banking and insurance for Ranking Member Richard Shelby; a staffer on the Senate Banking Committee under Chairman Phil Gramm;[5] and a Deputy Assistant Secretary for Regulatory Affairs at the U.S. Department of Housing and Urban Development.

[6] He has also written for Forbes, The San Diego Union-Tribune, The Wall Street Journal, and the New York Post.

In testimony before the House Committee on Financial Services in September 2009, he said that "the current foreclosure relief efforts have largely been unsuccessful because they have misidentified the underlying causes of mortgage default.

It is not exploding ARMs or predatory lending that drives the current wave of foreclosures, but negative equity driven by house prices declines coupled with adverse income shocks that are the main driver of defaults on primary residences.