Articles Posted by M. Dodge Thomas

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  • Hospitals looking for cash upfront

    11/17/2013 5:57:44 AM PST · by M. Dodge Thomas · 64 replies
    The Chicago Tribune ^ | Nov 17, 2013 | Peter Frost, Chicago Tribune reporter
    Before undergoing an MRI, a CT scan or a surgery to clean up that wobbly knee, consumers had better become accustomed to hearing: "How do you intend to pay for that?"... The shift comes as more consumers enroll in so-called high-deductible health plans, which require consumers to pay more out of pocket in exchange for lower monthly premiums. As a result, health care providers must collect a larger portion of patient bills from consumers themselves, rather than their insurance companies. It's a delicate balance for hospitals, which have certain legal and ethical obligations to care for people who arrive with...
  • The Real Republican Adversary? Population Density

    09/04/2013 5:19:18 AM PDT · by M. Dodge Thomas · 26 replies
    Dave Troy Blog ^ | November 19th, 2012 | Dave Troy
    Curious about the correlation between population density and voting behavior, I began with analyzing the election results from the least and most dense counties and county equivalents. 98% of the 50 most dense counties voted Obama. 98% of the 50 least dense counties voted for Romney... At about 800 people per square mile, people switch from voting primarily Republican to voting primarily Democratic. Put another way, below 800 people per square mile, there is a 66% chance that you voted Republican. Above 800 people per square mile, there is a 66% chance that you voted Democrat. A 66% preference is...
  • Vanity: It's Time To Let Go Of "They Stole It"

    11/08/2012 6:25:55 AM PST · by M. Dodge Thomas · 82 replies
    11-8-2012 | Self
    Reading the last two days discussion of what happened Tuesday, IMO there is one line of argument that needs to be abandoned because it's both incorrect and counterproductive: "They stole it". The problem with the "vote fraud" theory is that that convincing evidence that it's not correct; for example the actual results were very close to the aggregate polling predictions in the last weeks before the election, see for example: http://election.princeton.edu/2012/11/07/after-the-storm/ For that to happen you would not only have to rig not only the election but also both the national and state level polling in such a way that...
  • Choosing the Road to Prosperity Why We Must End Too Big to Fail—Now

    04/15/2012 6:49:01 AM PDT · by M. Dodge Thomas · 6 replies
    Federal Reserve Bank of Dallas ^ | 4/1/2015 | Harvey Rosenblum
    The too-big-to-fail institutions that amplified and prolonged the recent financial crisis remain a hindrance to full economic recovery and to the very ideal of American capitalism. It is imperative that we break up the big banks...
  • Herman Cain's 9-9-9 Tax Plan

    10/19/2011 10:54:18 AM PDT · by M. Dodge Thomas · 25 replies
    Tax Policy Center ^ | Oct 18, 2011 | Tax Policy Center (Brookings Institution )
    "The Tax Policy Center has estimated the distributional effects of a fully-phased-in version of Herman Cain’s 9-9-9 tax plan. Herman Cain’s plan would eliminate the current individual income tax, corporate income tax, payroll tax, and estate and gift tax and substitute three taxes imposed at a 9 percent rate: 1) a 9 percent “national sales tax” 2) a 9 percent “business flat tax”, and 3) a 9 percent “individual flat tax.” Based on descriptions from the Cain campaign website and Fiscal Associates, the firm that analyzed the proposal for the Cain campaign, we conclude that all three taxes are versions...
  • Accounting fore the Cost of US Health Care - Executive Summary

    09/10/2011 5:37:44 AM PDT · by M. Dodge Thomas · 13 replies
    McKinsey Global Institute ^ | December, 2008 | McKinsey Global Institute
    See link for executive summary of study.
  • 2010 Report to Congress on the Benefits and Costs of Federal Regulations and Unfunded Mandates

    02/05/2011 7:04:00 AM PST · by M. Dodge Thomas · 2 replies
    Office of Management and Budget, US Goverment ^ | 1/1/2011 | Office of Management and Budget
    The Regulatory Right-to-Know Act calls for the Office of Management and Budget (OMB) to submit to Congress each year “an accounting statement and associated report” including: (A) an estimate of the total annual benefits and costs (including quantifiable and nonquantifiable effects) of Federal rules and paperwork, to the extent feasible: (1) in the aggregate; (2) by agency and agency program; and (3) by major rule; (B) an analysis of impacts of Federal regulation on State, local, and tribal government, small business, wages, and economic growth; and (C) recommendations for reform.
  • America's Economic Malady: A Bad Case of 'Baumol's Disease'

    12/12/2010 2:48:36 AM PST · by M. Dodge Thomas · 36 replies
    www.dailyfinance.com ^ | 12/11/10 See full article from DailyFinance: http://srph.it/fMXqv2 | Charles Hugh Smith
    Goods-producing industries could achieve high productivity growth as labor-saving automation and supply-chain efficiencies scaled up. But jobs in nursing and teaching required the same number of person-hours with patients or students as they did in years past. In other words, labor-intensive services had far lower rates of productivity growth than did goods-producing industries. And yet salary increases in those service sectors -- education, health care, government, to name a few -- keep pace with those in industries where raises are justified by greater productivity. This difference has a consequence that few had noticed before: As gross domestic product rises due...
  • The Recession and Recovery in Perspective (Interactive Graphics)

    04/02/2010 6:44:51 AM PDT · by M. Dodge Thomas · 4 replies · 283+ views
    Federal Reserve Bank Minn. ^ | 4/2/2010 | Federal Reserve Bank Minn.
    The 2007-2009 recession is widely thought to have ended sometime last summer. How bad was this recession, and how quickly is the economy recovering? How does this recession and recovery compare to previous cycles?
  • Health Care Reform: Round 2

    04/01/2010 12:22:38 PM PDT · by M. Dodge Thomas · 202+ views
    Jow Flower Health Care Blog ^ | pril 1, 2010 | Joe Flower
    The health care reform debate is only through the first round. In a few years, as early as 2013 or 2014, we are likely to see another round, with at least as much whacked-out drama as this one. But the cry will not be, “Bring back the good old days!” The cry will be, “These costs are killing us! Do something! Now!” This next round will be entirely focused on draconian cost-cutting. The push for reform was about three things: Cost, quality, and access. Well, one out of three is not bad. The bill we got will eventually do a...
  • Colorado Springs cuts into services considered basic by

    02/01/2010 10:12:26 AM PST · by M. Dodge Thomas · 48 replies · 1,352+ views
    The Denver Post ^ | 01/31/2010 | Michael Booth
    COLORADO SPRINGS — This tax-averse city is about to learn what it looks and feels like when budget cuts slash services most Americans consider part of the urban fabric. More than a third of the streetlights in Colorado Springs will go dark Monday. The police helicopters are for sale on the Internet. The city is dumping firefighting jobs, a vice team, burglary investigators, beat cops — dozens of police and fire positions will go unfilled. The parks department removed trash cans last week, replacing them with signs urging users to pack out their own litter. Neighbors are encouraged to bring...
  • In Health Reform, a Cancer Offers an Acid Test

    07/08/2009 3:29:41 AM PDT · by M. Dodge Thomas · 17 replies · 685+ views
    The New York times ^ | July 8, 2009 | David Leonhardt
    ... let’s talk about prostate cancer. Right now, men with the most common form can choose from at least five different courses of treatment... Some doctors swear by one treatment, others by another. But no one really knows which is best. Rigorous research has been scant. Above all, no serious study has found that the high-technology treatments do better at keeping men healthy and alive. “No therapy has been shown superior to another,” an analysis by the RAND Corporation found. Dr. Michael Rawlins, the chairman of a British medical research institute, told me, “We’re not sure how good any of...
  • Subprime lobbyists in $370m battle

    05/06/2009 9:41:44 AM PDT · by M. Dodge Thomas · 12 replies · 591+ views
    The Financial Tmes ^ | May 6 2009 | Edward Luce
    The top 25 US originators of subprime mortgages – the risky assets that sparked the global financial crisis – spent almost $370m in Washington over the past decade on lobbying and campaign donations as they tried to ward off tighter regulation of their industry, an investigation has shown... Most of the top 25 originators, most of which are now bankrupt, were either owned or heavily financed by the nation’s largest banks, including Citigroup, Goldman Sachs, Wells Fargo, JPMorgan and Bank of America. Together, they originated $1,000bn in subprime mortgages in 2005-07 – almost three-quarters of the total... The banks, which...
  • Susan Boyle - Singer - Britains Got Talent 2009 (With Lyrics) - (Just too cool for words)

    04/15/2009 8:06:31 AM PDT · by M. Dodge Thomas · 41 replies · 1,755+ views
    You Tube ^ | N/A | Susan Boyle
    This is the only "non-politcal" item I've ever posted on FR but... well... just watch it. (Rated "G")
  • Let us put markets to the service of the good society (Tories re-think conservative economic policy)

    04/14/2009 5:57:44 AM PDT · by M. Dodge Thomas · 3 replies · 411+ views
    The Financial Times ^ | Phillip Blond | Phillip Blond
    David Cameron has driven a social revolution in British Conservatism since becoming leader of the main UK opposition party in late 2005. The great fear has always been that ideas for fixing Britain’s “broken society” and delivering civic renewal would not be integrated with the party’s economic policy. But last week, George Osborne, shadow chancellor of the exchequer, signalled that the Conservatives are breaking with the neo-liberal absolutism of the past 30 years to forge a new approach to the market economy. Mr Osborne could not have been clearer; he repudiated laisser faire economics and the libertarian philosophy that licensed...
  • The Joint Operating Environment (JOE) 2008 Report (Mexico Could Experience Sudden Collapse)

    01/14/2009 8:31:27 AM PST · by M. Dodge Thomas · 19 replies · 1,488+ views
    http://www.globalsecurity.org ^ | 2008 | Joint Operating Environment (JOE)
    Link to .PDF of full report, search for "Mexico"
  • Asia’s revenge (International capital flows and the current crisis)

    10/09/2008 7:42:19 AM PDT · by M. Dodge Thomas · 3 replies · 359+ views
    FT.com ^ | Oct 8 2008 | Martin Wilf
    What confronts the world can be seen as the latest in a succession of financial crises that have struck periodically over the last 30 years. The current financial turmoil in the US and Europe affects economies that account for at least half of world output, making this upheaval more significant than all the others. Yet it is also depressingly similar, both in its origins and its results, to earlier shocks. To trace the parallels – and help in understanding how the present pressing problems can be addressed – one needs to look back to the late 1970s. Petrodollars, the foreign...
  • Stories: Talkin' 'Bout Our Generation (McCain vs. Obama in Florida)

    06/14/2008 11:12:53 AM PDT · by M. Dodge Thomas · 7 replies · 61+ views
    Financial Times ^ | June 14, 2008 | Larry Salter
    ... Florida, set in the deepest south but not entirely of it, highlights a different divide - one that might prove more important to the presidential poll this autumn. Here, the McCain-Obama battle is one between American generations, the war vet versus the enigma who looks at least a decade younger than his 46 years. The surprise of this contest is that, with Hillary Clinton out of the race, that much-discussed demographic, the baby boomer generation, has been cut out of the race. Obama is surfing a different demographic wave - Morley Winograd and Michael Hais, authors of Millennial Makeover,...
  • Left Pipeline: Why Conservatives Don’t Get Doctorates

    02/20/2008 6:39:26 PM PST · by M. Dodge Thomas · 66 replies · 975+ views
    American Enterprise Institute ^ | Matthew Woessner, Ph.D., April Kelly-Woessner, Ph.D.
    A study by two conservative researchers attempting to determine why conservatives are underrepresented on college and university faculties. The conclusion is while some portion of this imbalance can be traced to "bias" and "discrimination", a large part results from a decision by students with conservative values not to pursue a career with limited economic potential that also requires sacrifice of family commitments to achieve academic advancement. "Since conservatives place an especially high priority on financial security and raising a family, the academy needs to make efforts to adopt more family-friendly policies... "As graduate school is not financially lucrative and pre-tenure...
  • Why Climate Change Can't Be Stopped

    10/02/2007 3:56:29 AM PDT · by M. Dodge Thomas · 45 replies · 169+ views
    Foregin Policy Magazine ^ | September 2007 | Paul J. Saunders, Vaughan Turekian
    As the world’s leaders gather in New York this week to discuss climate change, you’re going to hear a lot of well-intentioned talk about how to stop global warming. From the United Nations, Bill Clinton, and even the Bush administration, you’ll hear about how certain mechanisms—cap-and-trade systems for greenhouse gas emissions, carbon taxes, and research and development plans for new energy technologies—can fit into some sort of global emissions reduction agreement to stop climate change. Many of these ideas will be innovative and necessary; some of them will be poorly thought out. But one thing binds them together: They all...
  • A Nation of "Haves" and "Have-Nots"? (How Americans view national and personal ecconomics)

    09/28/2007 8:19:31 PM PDT · by M. Dodge Thomas · 7 replies · 98+ views
    Pew Research Center Publications ^ | September 13, 2007 | Allen, Jodie T. Allen and Dimock, Michael
    Over the past two decades, a growing share of the public has come to the view that American society is divided into two groups, the "haves" and the "have-nots." Today, Americans are split evenly on the two-class question with as many saying the country is divided along economic lines as say this is not the case (48% each). In sharp contrast, in 1988, 71% rejected this notion, while just 26% saw a divided nation. Of equal importance, the number of Americans who see themselves among the "have-nots" of society has doubled over the past two decades, from 17% in 1988...
  • Log Cabin Responds to Resignation of Senator Larry Craig

    09/02/2007 4:39:58 PM PDT · by M. Dodge Thomas · 24 replies · 1,143+ views
    Log Cabin Republicans Web Site ^ | September 1, 2007 | Patrick Sammon
    Log Cabin Responds to Resignation of Senator Larry Craig Statement from Log Cabin President Patrick Sammon (Washington, DC)—Log Cabin President Patrick Sammon made the following statement about the resignation of Senator Larry Craig (R-ID): "Senator Craig made the right decision in resigning from the U.S. Senate. He lost his credibility to serve the people of Idaho and his actions damaged the credibility of the Republican Party. Senator Craig had no other choice but to resign—for the good of his State, the good of his Party, and the good of his family. "His actions in Minnesota and the way he handled...
  • Why U.S. Health Care Costs Aren’t Too High

    02/01/2007 7:44:56 AM PST · by M. Dodge Thomas · 5 replies · 796+ views
    Harvard Business Review ^ | Feburary, 2007 | Clay Shirky
    There is nearly a consensus that American health care is careening toward fiscal catastrophe. Reasonable estimates of unfunded health care liabilities are sky-high. But the belief that health care costs threaten to wreck the U.S. economy is misguided. In the first place, procedure by procedure, those costs are quite probably falling. It is spending that is rising, which is not the same thing at all. The advent of minimally invasive techniques means that, for example, the cost of a gallbladder operation has dropped substantially, and the patient can usually return to work the next day instead of sitting at home...
  • US presses Iraq on amnesty issue (including for attacks on US forces))

    10/18/2006 7:54:48 AM PDT · by M. Dodge Thomas · 3 replies · 281+ views
    Financial Times ^ | October 17 2006 | Roula Khalaf and Guy Dinmore
    US presses Iraq on amnesty issue By Roula Khalaf and Guy Dinmore in Washington Published: October 17 2006 22:05 | Last updated: October 17 2006 22:15 The Bush administration is pressing the Iraqi government of Nouri al-Maliki to issue a “broad” and “painful” amnesty for insurgents in spite of intense opposition to the proposal from politicians both in Iraq and the US, according to a senior administration official. Amid growing anxiety in Washington over Iraq’s escalating sectarian violence, the US is advocating more determined moves towards a national reconciliation with the Sunni community that dominates Iraq’s insurgency. It also wants...
  • He Who Cast the First Stone Probably Didn’t (The psychology of "an eye for an eye")

    07/24/2006 9:58:23 AM PDT · by M. Dodge Thomas · 55 replies · 971+ views
    The New York Times ^ | July 24, 2006 | Daniel Gilbert
    Examples aren’t hard to come by. Shiites seek revenge on Sunnis for the revenge they sought on Shiites; Irish Catholics retaliate against the Protestants who retaliated against them; and since 1948, it’s hard to think of any partisan in the Middle East who has done anything but play defense. In each of these instances, people on one side claim that they are merely responding to provocation and dismiss the other side’s identical claim as disingenuous spin. But research suggests that these claims reflect genuinely different perceptions of the same bloody conversation...
  • Seven Questions: The Future of Oil (An interview with Investment Banker Matthew Simmons)

    10/24/2005 5:10:42 PM PDT · by M. Dodge Thomas · 5 replies · 497+ views
    Foreign Policy ^ | September 2005 | Matthew Simmons
    FP: (Some) suggest... domestic drilling offshore and in Alaska. MS: It’s very important. Everything we can do to stabilize supply buys us more time to adjust to peak oil. People ask what difference it would make if we drilled for oil in ANWR... There could be up to 1.5 million bpd of oil there. It doesn’t solve the larger problem, but it’s a safety valve. FP: If you were the secretary of energy right now, what policies would you recommend to President Bush? MS: If we restructure the way we use fuels, we might be able to get along very...
  • Taxing Issues (Interview with Connie Mack)

    10/23/2005 2:49:34 PM PDT · by M. Dodge Thomas · 12 replies · 380+ views
    The New York Times Marazine ^ | October 23, 2005 | Deborah Solomon
    (An Interview wiht Connie Mack, Chairman of the Tax-Reform Panel now finalizing its recommendations to the President and Congress.) Q. Well, the U.S. government has to get money from somewhere. As a two-term former Republican senator from Florida, where do you suggest we get money from? A. What money? Q. The money to run this country. A. We'll borrow it. Q. ... When the president says we need another $200 billion for Katrina repairs, does he just go and borrow it from the Saudis? A. In a sense, we do. Maybe the Chinese. Q. Is that fair to our children?...
  • Shanghai Living (Portraits of life in mainland China)

    10/17/2005 6:28:44 AM PDT · by M. Dodge Thomas · 2 replies · 476+ views
    Shanghai Art Gallery ^ | October 17 2005 | Hu Yang
    Selections from a series of interior pictures of 500 Shanghai homes occupied by individuals and families living lives ranging from paupers to billionaires, accompanied by brief biographical sketches depicting the lives of their occupants. "I've been in Shanghai for more than 10 years. Working makes my day and night. Life pace is too fast and I don't have any social security. I dare not say I contributed a lot to Shanghai's development, but I am working for this city. Life is unfair. I don't have a legal identity for me to find a decent job. I don't have time to...
  • Red Family, Blue Family - Making sense of the values issue

    09/27/2005 6:17:05 AM PDT · by M. Dodge Thomas · 9 replies · 591+ views
    Internet Gurus(TM) ^ | Feb 1, 2005 | Doug Muder
    A longish but IMO interesting article from the left, in which the author tries to make sense of the Conservative revolution, makes the argument that the Conservative-Liberal split in the US really *is* about "family values", and attempts to explain to his readers what this difference is about. I’ve posted it because, putting his politics aside, the description of the “conservative” and “liberal” views of family life, it’s relationship to religious conviction, and how it produces a “moral” society rings true to me, and it's the best such short description I’ve seen – but don’t bother with the second half...
  • So What's the 'Right' Pick? (and which type of judicial conservative the President choose?)

    07/03/2005 7:07:25 AM PDT · by M. Dodge Thomas · 37 replies · 904+ views
    New York Times ^ | July 3, 2005 | By Jeffery Rosen
    (The president) is widely expected to appoint a judicial conservative, but the crucial question for the country is what kind of judicial conservative. Judicial conservatism, after all, is not a monolithic movement: It is a catchphrase for very different approaches to constitutional interpretation that often lead to dramatically different results in cases ranging from affirmative action to abortion and states' rights. Several of the leading candidates said to be on Mr. Bush's short list - like Judge J. Michael Luttig of Virginia and Judge John Roberts of Washington - defy easy categorization. But it's clear that justices from each philosophical...
  • Military presides over its first gay wedding (Canada)

    06/15/2005 9:51:54 AM PDT · by M. Dodge Thomas · 17 replies · 816+ views
    The Globe and Mail ^ | June 15 2005
    Halifax -- The Canadian military is marking its first gay wedding. Two men, who do not want to be identified, exchanged vows in a ceremony at Canadian Forces Base Greenwood in Nova Scotia. It was the first time the military presided over a same-sex union after introducing guidelines in 2003 dealing with the issue. The two men, one a sergeant, the other a warrant officer, were married last month by a United Church minister because the base chaplain is Anglican and couldn't officiate. A spokeswoman with National Defence confirmed it was the first wedding for a gay couple in the...
  • Coalition Seeks a Federal Insurance Regulator

    06/15/2005 8:08:09 AM PDT · by M. Dodge Thomas · 3 replies · 321+ views
    New York Times ^ | June 15 2004 | Joseph B Treaster
    Frustrated by the sluggishness and inconsistencies of state regulation, 135 insurance companies, agencies, banks and financial services trade groups urged Congress yesterday to establish a federal regulator for the insurance industry. In a letter to Senators Richard C. Shelby, the chairman of the Senate Banking Committee, and Paul S. Sarbanes, the ranking Democrat on the panel, the insurers and bankers complained of the burden of having to comply with regulators in 50 states, saying it was a very costly system that "provides no advantage to the consumer." The shortcomings of state regulation have been underscored in the last year by...
  • Interview with Bernard Lietaer -- Money, Community & Social Change

    06/04/2005 9:45:39 AM PDT · by M. Dodge Thomas · 270+ views
    http://uazu.net/money/lietaer.html ^ | Bernard Lietaer and Ravi Dykema
    Money, Community & Social Change -------------------------------- An Interview with Bernard Lietaer By Ravi Dykema "Bernard Lietaer has been involved in the world of money systems for more than 25 years, and his experience in monetary matters ranges from multinational corporations to developing countries. He co-designed and implemented the convergence mechanism to the single European currency system (the Euro), and served as president of the Electronic Payment System in his native Belgium. He also co-founded one of the largest and most successful currency funds. Lietaer is the author of nine books on money and finances, including "The Future of Money" (Random...
  • Studies find it’s getting harder and harder to pull yourself up by your bootstraps

    03/27/2005 2:57:38 PM PST · by M. Dodge Thomas · 181 replies · 2,813+ views
    The telegraph On-Line ^ | March 27,2005 | Mary Deibel and Lance Gay
    In an earlier era, Americans who didn’t strike it rich at home could take Horace Greeley’s advice to “Go West” for new opportunities to reinvent their lives. World War II gave way to another kind of mobility. The GI Bill and an end to legal segregation ushered in “a period when people from poor backgrounds were able to get a college education, buy a home and start a business,” said New York University wealth expert Edward Wolff. These days, various new studies suggest that the recipe for financial success may depend more on having successful parents than pulling yourself up...
  • THE POLARIZATION OF AMERICAN POLITICS

    10/10/2004 2:34:18 PM PDT · by M. Dodge Thomas · 2 replies · 493+ views
    The Polarization of the Political Parties in Congress
  • Terrorism fears no longer helping Bush, Study Finds

    08/17/2004 7:51:42 AM PDT · by M. Dodge Thomas · 20 replies · 793+ views
    Chicago Sun-Times ^ | August 12, 2004 | Debra Pinkett
    A new study reveals a surprising twist on the conventional wisdom about November's presidential election: While political pundits seem to agree that news of terrorist threats and other dangers from abroad is good news for President Bush's re-election bid, the opposite might be true. ... In the aftermath of the Sept. 11 terrorist attacks, they found that people who expressed greater concern about threats of future terrorism were more likely to approve of Bush's presidential performance, while those who were less worried were less likely to support the president. ... But by spring 2004, "this relationship had reversed: Those who...
  • Bush: The Dream Campaign (Grover Norquist Quote)

    05/24/2004 7:14:03 AM PDT · by M. Dodge Thomas · 12 replies · 129+ views
    The New ork Review of Books ^ | June 10 2004 | Elizabeth Drew
    "The problem for people who want Bush to win is that there's a total asymmetry between Democrats and Republicans in how much they're energized about the Presidential race." "If after the election Kerry is president but the Republicans control the House and Senate we can stop him from getting anybody on the Supreme Court, we won't let him raise taxes. No part of the Republican coalition would be damaged or destroyed by a Kerry victory. But with another four years of Bush, labor unions will decline further. We'll get tort reform which will cost the trial lawyers millions and millions....
  • U.S. must establish monopoly on violence in Iraq

    04/08/2004 3:40:44 PM PDT · by M. Dodge Thomas · 35 replies · 118+ views
    Chicago Sun Times ^ | 4/8/2004 | George Will
    <p>"As this is written, headlines speak of 1,200 Marines ''encircling'' Fallujah, which is as populous as Newark, N.J. It is a sign of things falling apart that common language seems unable to get a purchase on Iraq's new reality -- a civil war defined by the Uprising of many Shiites against the U.S. occupation.</p>
  • Testimony by Kent Smetters to Congress (The Deficit, Taking the Long View)

    03/20/2004 6:37:06 PM PST · by M. Dodge Thomas · 6 replies · 83+ views
    Congrressional Record ^ | March 3, 2003 | Kent Smetters
    Testimony by Kent Smetters for the Subcommittee on the Constitution of The United States House of Representatives. Submitted on March 3, 2003, for hearing on March 6. "... The current fiscal imbalance is so large that it needs to be put into context. As an example, Table 1 shows that the government could, in theory, put the country on a sustainable course by raising the payroll tax on all uncapped earnings by 16.3 percentage points starting in 2004 and lasting forever. That would forever more than double the amount of taxes that are already being paid by employees to the...
  • Fannie Mae may face $24bn derivatives losses

    03/09/2004 5:24:38 PM PST · by M. Dodge Thomas · 26 replies · 269+ views
    Financial Times ^ | March 9 2004 | Stephen Schurr
    Fannie Mae paid a net $25.1 billion on derivatives transactions in under four years - nearly all of which may represent losses that cannot be recouped, in turn depressing future earnings. The potential scale of the liabilities, which have yet to be recognised in the company's earnings or in the minimum capital adequacy required by its regulator, raise fresh doubts about the financial health of the mortgage finance giant. Regulation of Fannie Mae and its sibling Freddie Mac is rapidly moving up the agenda in Washington, amid concerns that the two goverment-sponsored entities have grown so big that they pose...
  • Senators' Stocks Beat the Market by 12 Percent

    03/06/2004 4:56:09 PM PST · by M. Dodge Thomas · 12 replies · 275+ views
    New Y ork Times ^ | February 24, 2004
    US senators' personal stock portfolios outperformed the market by an average of 12 per cent a year in the five years to 1998, according to a new study. "The results clearly support the notion that members of the Senate trade with a substantial informational advantage over ordinary investors," says the author of the report, Professor Alan Ziobrowski of the Robinson College of Business at Georgia State University. He admits to being "very surprised" by his findings, which were based on 6,000 financial disclosure filings and are due to be published in the Journal of Financial and Quantitative Analysis. "The results...
  • "Is Bush Expendable?"

    03/04/2004 3:29:46 PM PST · by M. Dodge Thomas · 6 replies · 63+ views
    Chicago Sun-Times ^ | 3/4/04 | Robert Novak
    "...Today, Republicans on either end of Pennsylvania Avenue seem to be going in opposite directions. - Disagreement between congressional Republicans and Bush over the size of the highway bill reflects mutual recriminations over runaway federal spending in general. While the president's aides are angered by the lawmakers' addiction to concrete, conservative lawmakers are furious that Bush's budget has preserved and actually increased federal funding for the arts. - Bush's call to make his tax cuts permanent and to repeal the estate tax for all time leaves Republicans in Congress perplexed about how they will be able to write a budget...