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(War bonds ad from the 1940s, from “Found in Mom’s Basement” blog .)
As Bruce Bartlett explains in his Forbes column , when a war is deficit financed, people tend to (way) underestimate its economic cost (like all other things that are deficit financed), and that tends to ...
Government
US Trade Deficit
Barack Obama
George Bush
White House
Happy Thanksgiving! As I get ready for a happy day full of cooking and catching up with my kids (human and canine!), I went back to my post last Thanksgiving ( “Giving Thanks” ) and realize that the big things in life that I was so grateful for last year I am still have in my ...
Government
White House
Barack Obama
OK, I’m jumping into this controversy about screening for breast cancer (mammograms, self exams, and the under- versus over-50 issue) a week late, but not because I haven’t been following the stories. It’s kind of hard to know how to talk about one’s breasts when one ...
Government
White House
I like Ed Andrews’ New York Times article on how we’re running out of ways to cheaply finance our federal debt. Ed explains:
The White House estimates that the government will have to borrow about $3.5 trillion more over the next three years. On top of that, the Treasury has ...
Government
Treasury Bills
Federal Budget
Interest Rate
The cover story in this week’s Economist magazine discusses “dealing with America’s fiscal hole.” The “hole” is described not as something we’ll have to dig ourselves out of in the far-off future , but something we’re already too far in now . ...
Government
US Trade Deficit
Federal Budget
Social Security
White House
Hooray! Tonight we’re one step closer to getting a deficit-neutral health care reform bill that has at least some hope of “bending the health cost curve” in the future. Oh wait, maybe not…
As David Broder worries about in his Sunday column in the Washington Post ...
Government
Federal Budget
White House
On e21, Donald Marron writes about a recent IMF analysis that compares the budget deficits of 22 advanced countries. Donald explains how the U.S.’s budget outlook might look quite grim, but we’re still not as badly off as Japan, the U.K., Ireland, and Spain. In order to get the ...
Government
International Monetary Fund
Stimulus Plan
Federal Budget
US Trade Deficit
Gross Domestic Product
I’m in New York City today for the Concord Coalition’s annual fundraising dinner that’s tonight. When I come to NYC I come fully prepared to face higher prices than I normally have to pay back in the DC area. But I’m “lucking” into collecting a lot of ...
Other
CQ’s Richard Rubin writes in this week’s CQ magazine (as part of the cover story on “Health Care’s Taxing Questions”) that the current Congress has little experience surviving voting for tax increases, because so few of them were even around to vote for them ...
Government
Barack Obama
Bill Clinton
George Bush
Social Democrats
US Trade Deficit
White House
Saturday Night Live’s Jason Sudeikis is hilarious as VP Joe Biden , taking over for President Obama in the Oval Office while the President’s out of the country, talking about “just” three issues: Afghanistan, the economy, and health care reform. My favorite part is ...
Government
Joe Biden
White House
I’m just back from Denver, where in the opening session on “Dealing with the Fiscal Outlook” of the National Tax Association annual conference, I had been tasked with discussing the “political economy” of the problem. I started by saying I didn’t know where ...
Government
George Bush
Federal Budget
Recession
Securities and Exchange Commission
White House
Economic Crisis
I’m still in Denver at the National Tax Association conference, but headed out before the big snow comes! I have many things to catch up on here, but no time right now. In the meantime, see if you see the disconnect between this Washington Post column by David Broder on what David Walker ...
Government
White House
Michael Bloomberg
The President’s budget director, Peter Orszag, was on NPR’s Morning Edition on Wednesday morning. He talked about the really difficult fiscal policy dilemma the federal government faces right now–dealing with both an unusually severe recession and a worsening longer-term ...
Government
US Trade Deficit
Peter Fisher
George Bush
Federal Budget
Recession
Barack Obama
Have you ever thought you could be WAY more fiscally responsible than our politicians are? Go ahead and test yourself on the Concord Coalition’s new online version of our “Principles and Priorities” exercise, now re-dubbed the “Federal Budget Challenge.” As ...
Government
Federal Budget
US Trade Deficit
White House
The Washington Post’s Alec MacGillis asks a rather provocative question in today’s Outlook section: “Why won’t Obama give you a job?” The article challenges the Administration’s claim that “the stimulus is working” and argues that the ...
Government
Steve Jobs
Barack Obama
Stimulus Plan
Recession
Unemployment
White House
In his Forbes column this week, Bruce Bartlett explains how to set up a deficit-reduction commission who can speak the real truth and thus come up with real solutions. Bruce’s key recommendations (emphasis added):
In my opinion, the commission should have no members of Congress at ...
Government
US Trade Deficit
White House
Barack Obama
Securities and Exchange Commission
Federal Budget
I think this is one of the coolest radio interviews I’ve done (click here for the link to the podcast) –not because of anything new I said that I haven’t said a million times before, but because Marketplace’s Scott Jagow did such a great job of prompting me with ...
Government
White House
Barack Obama
Federal Budget
President Obama’s budget director, Peter Orszag, gave a really nice speech on the economy and fiscal policy this week. It reinforces my belief that: (1) Peter really doesn’t view the “legacy” of the deficit-financed Bush tax cuts as a good one; (2) Peter really ...
Government
George Bush
Barack Obama
Peter Fisher
Recession
Federal Budget
US Trade Deficit
The news tonight (to appear in Thursday’s Washington Post ):
The Senate voted Wednesday to renew the government’s $8,000 tax credit for first-time home buyers through the first six months of next year as part of a broader bill designed to extend unemployment benefits.
For the ...
Commodities
Stimulus Plan
Housing Market
Recession
Unemployment
Community Reinvestment Act
Because it usually doesn’t work out so well, as illustrated in this NPR Marketplace video (part of their new “Department of Behavioral Economics” ) featuring Marketplace senior editor Paddy Hirsch–with whom I’ve been playing phone tag (on other economics ...
