Keyword: fiscalpolicy

Brevity: Headers | « Text »
  • Absent Major Changes, Puerto Rico Faces a Fiscal Calamity

    06/04/2014 6:36:07 AM PDT · by SeekAndFind · 21 replies
    RCM ^ | 06/04/2014 | James Glassman
    As U.S. officials and private investors become more concerned about the financial fate of Puerto Rico after nearly a decade of economic decline, attention has turned to an $8.5 billion bank, which may be the key to whether this island of 3.7 million people flourishes or self-destructs. Puerto Rico's recession is now in its eighth year. The closely watched Economic Activity Index has plummeted from 155 to 128; the unemployment rate, at 14.1%, is more than twice that of the mainland U.S., and the total number of workers has dropped from 1.3 million at its peak in December 2006 to...
  • Master Cut: Rand Paul Suggests Jimmy Carter Better Than Ronald REAGAN On Budget

    04/23/2014 1:06:25 PM PDT · by Josh Painter · 92 replies
    Breitbart TV ^ | 2014/04/23 | Breitbart Staff
    David Corn of Mother Jones has assembled a number of clips from Sen. Rand Paul (R-KY) over the years criticizing former President Ronald Reagan for the budgets he signed into law. In some cases, Paul declared Reagan worse on budgetary issue than his predecessor, former President Jimmy Carter.
  • What Ben Bernanke Won't Say: It's Over Obama

    07/17/2013 7:38:42 AM PDT · by SeekAndFind · 39 replies
    Townhall ^ | 07/17/2013 | John Ransom
    On June 17, Barack Obama had one of his most awesome reality TV events of the year when he fired central bank chairman Ben Bernanke on PBS with liberal mope and host Charlie Rose moderating. “He essentially fired Ben Bernanke on the spot and gave him a fairly tepid testimonial afterward,” said former Fed Governor Laurence Meyer, in an interview on CNBC the next day. And the bankers have been in revolt ever since. The government, meanwhile, has revised the economy’s performance downward. The newest do-over by government economists comes three months after they gave the economy one of the...
  • Three charts on the fiscal condition of state and local governments

    07/12/2013 7:01:32 AM PDT · by SeekAndFind · 1 replies
    Public Sector Inc ^ | 07/11/2013 | Steve Eide
    This past Friday's jobs report showed continued strength in jobs numbers for state and local governments, led by the latter. This year, local governments have added 45,000 jobs, which may not sound like much, but municipalities had lost jobs in nearly every preceding month going back to the summer of 2008. (Total US nonfarm employment, by contrast, has been growing since February 2010).   But just as stability has returned to the state and local employment picture, borrowing costs have started to climb.  Ben Bernanke's June speech that the Fed is considering taking its thumb off the scales of...
  • Is Fiscal conservatism on the decline?

    05/25/2013 10:03:39 AM PDT · by SeekAndFind · 17 replies
    Hotair ^ | 05/25/2013 | Jazz Shaw
    After two full election cycles where Americans debated the need to reign in spending, debt and the dubious future of entitlement programs and our nation’s fiscal viability, has the bloom started to come off the rose? A new poll from Gallup has some potentially worrying portents in the top lines. Forty-one percent of Americans now characterize their economic views as “conservative,” or “very conservative,” the lowest since President Barack Obama took office in 2009 and on par with where views were in May 2008. This year’s downtick in the percentage of Americans identifying as economically conservative has been accompanied by...
  • Barack Obama Wants Four More Years To Get It Right

    09/02/2012 5:16:58 AM PDT · by LD Jackson · 9 replies
    Political Realities ^ | 09/02/12 | LD Jackson
    In recent days, I have learned of some people who voted for Barack Obama. These are people whom I know personally, but would have thought they would have never fallen for the feel good "hope and change" Obama was selling in 2008. I was wrong in that assumption, but knowing these people as I know them, I can not help but wonder how they were taken in by the man currently living in the White House. Be that as it may, we now have a task in front of us. We need to show everyone how badly Barack Obama...
  • The Limits of Monetary Policy and the Importance of Fiscal Policy

    06/06/2012 5:19:42 PM PDT · by moneyrunner · 2 replies
    The Virginian ^ | 6/6/2012 | Moneyrunner
    Here is the rub. As mentioned, the FOMC sets monetary policy for the nation, for all 50 states—its influence is uniform across America. The same rate of interest is charged on bank loans to businesses and individuals in Texas as is charged New Yorkers or the good people of Illinois or Californians; Texans pay the same rates on mortgages and so on. Why is it that the Texas economy has radically outperformed the rest of the states? A cheap answer is to revert to the hackneyed argument that Texas has oil and gas. It is true that we produce as...
  • France, Greece choose suicide over solvency; are we next?

    05/11/2012 6:16:08 AM PDT · by cap10mike · 37 replies
    BizPacReview.com ^ | May 11, 2012 | Michael Dorstewitz
    Last Sunday, Greece and France held national elections. Both would determine the countries’ future fiscal course of action. In Greece, voters rejected the two ruling parties that had voiced support for the European Union austerity program. That program was instituted in an effort to keep the EU solvent after Portugal, Ireland, Greece and Spain, known as the PIGS, incurred massive debt as the result of their “cradle to grave” social programs. Since Greece was one of the EU’s original “problem children,” this could probably have been expected. In France, socialist Francois Hollande was ushered in, while right-of-center Nikolas Sarkozy was...
  • Note to Congress: The fiscal cliff cometh

    05/04/2012 6:16:47 AM PDT · by SeekAndFind · 24 replies
    Washington Post ^ | 05/04/2012 | Mohammad El-Erian, PIMCO
    Economists are rightly starting to warn that the United States faces a worrisome “fiscal cliff” at year’s end. The blunt spending cuts mandated by the 2011 compromise on the debt ceiling — and the failure of the “supercommittee” that followed — along with across-the-board tax increases would derail the U.S. recovery and undermine the well-being of the global economy. We should be avoiding the edge of this cliff — and politicians should not believe that they have until the end of this year to act. In the next few months, possibly within weeks, markets here and abroad will be looking...
  • Obama accuses Republicans of 'madness'

    03/30/2012 8:19:00 PM PDT · by Free ThinkerNY · 99 replies
    Associated Press ^ | March 30, 2012
    PORTLAND, Maine - President Barack Obama accused Republicans of clinging to economic policies that preceded the Great Depression and the more recent economic downturn, saying his rivals are showing signs of "madness." Raising campaign cash in Maine on Friday, March 30, Obama said Republicans want to return to economic policies that would let Wall Street play by its own set of rules and allow insurance companies to roll back health coverage.
  • Fact Checker: Ron Paul’s misleading ad: Rick Santorum is ‘fake’ fiscal conservative

    03/08/2012 11:13:41 AM PST · by SeekAndFind · 39 replies
    Washington Post ^ | 02/23/2012 | Josh Hicks
    Santorum has arguably claimed the mantle of GOP front-runner by virtue of winning the most primaries and polling at or near the front of the pack in Michigan and Arizona, where the next contests take place. So his rivals are taking aim at his record, mainly by attacking his fiscal policies. Ron Paul has gone perhaps furthest in this regard with his latest ad, which suggests the former senator supports ruthless dictators and abortion services. The video only mentions spending, but it’s actually a two- or maybe three-for-one for all intents and purposes, since it questions the candidate’s social and...
  • The Biggest Lie Being Told About The US Economy

    08/14/2011 7:22:34 AM PDT · by blam · 13 replies
    TBI ^ | 8-14-2011 | Joe Weisenthal
    The Biggest Lie Being Told About The US Economy Joe Weisenthal Aug. 14, 2011, 6:14 AM The latest piece from John Mauldin contains a nugget on US fiscal policy that's worth addressing: The economy is getting weaker. What can we do? The short answer is, sadly, not much. There were some in Maine who argued for more fiscal stimulus, but I think there is little political will for another major stimulus program. The last one got us up to 3% GDP growth before we fell back, and all we got was a major debt bill and a higher level of...
  • C-Town Supermarket, Single Mom's & For-Profit, Online Universities

    07/31/2011 10:12:08 AM PDT · by UnBubba · 18 replies
    Vanity | 7-31-11 | Self
    Just another day in Paradise.
  • The Constitution and the debt-ceiling debate

    07/14/2011 12:20:33 PM PDT · by american_steve · 5 replies
    DavidRivkin.com, The Wall Street Journal ^ | 05/12/2011 | David Rivkin and Lee A. Casey
    "Of course, were Congress to reclaim this authority and separately approve each new U.S. debt issue, it would once again be directly responsible for government borrowing in a way that it has avoided for nearly 100 years. With political power comes political accountability. And that, more than anything else, is what the voters who brought a Republican majority back to the House of Representatives wanted. This true type of fiscal responsibility would also be far more consistent with the vision of our Founders. They believed that public borrowing was an important governmental tool, but one that should be used sparingly...
  • Why The Fed Is Officially Paralyzed

    06/24/2011 4:23:48 AM PDT · by blam · 20 replies
    TBI ^ | 6-24-2011 | Comstock Partners
    Why The Fed Is Officially Paralyzed Comstock Partners Jun. 24, 2011, 5:35 AM Here’s all you need to know about the current paralysis of Fed monetary policy. The FOMC is officially forecasting an unemployment rate of 7.8%-to-8.2% by the end of 2012—-3 ˝ years into the “recovery”—and has decided it cannot do anything about it. The Fed has used all of the conventional tools in its toolbox as well as some that aren’t so conventional. It has kept interest rates near zero for an extended period and bought over $2 trillion in mortgages, ballooning its balance sheet to $2.8 trillion...
  • Hellenic Handbasket. In some ways the US financial condition is worse than Greece's

    05/25/2011 6:45:43 AM PDT · by SeekAndFind · 2 replies
    National Review ^ | 05/25/2011 | Michael Tanner
    Pop quiz: Which country is in worse fiscal condition — Greece or the United States? Greece, struggling to avoid default on its massive national debt, obviously is in bad shape. This year it will run a budget deficit equal to 9.5 percent of its GDP. That actually is a significant improvement over last year, when its deficit topped 15 percent of GDP, though it remains well above its target of 7.4 percent. Greece’s overall national debt will be slightly higher than 150 percent of GDP by the end of the year. And the worst is yet to come. If Greece...
  • The U.S. fiscal solution: Follow Canada’s fiscal lead

    05/25/2011 6:30:19 AM PDT · by SeekAndFind · 5 replies
    Globe and Mail ^ | 05/25/2011 | David Rosenberg
    As we have seen time and again, every country pursuing profligate debt-financed fiscal policies ultimately hits some sort of wall - as was the case in Iceland recently, not to mention the Club Med countries in the euro zone. The United States may, too, if it doesn’t get its fiscal act together, as the recent Standard & Poor’s credit outlook warning attests. Canada did hit that debt wall nearly two decades ago as its deficits and debts became increasingly difficult to reverse. The federal government, both Liberals and Conservatives, borrowed and spent like drunken sailors for a long time. Similar...
  • Grading Tim Pawlenty. Is his fiscal record as conservative as he claims?

    05/19/2011 6:55:56 AM PDT · by SeekAndFind · 26 replies
    National Review ^ | 05/19/2011 | Katrina Trinko
    Tim Pawlenty is not bashful when it comes to touting the A grade that the Cato Institute gave him in 2010 for his handling of fiscal issues as governor of Minnesota. “I was just one of four governors in the country named by the Cato Institute to get an A grade in terms of fiscally conservative discipline,” he told CBN last October. In February, during an appearance on the Today show, Pawlenty said, “I’m only one of four governors in the country that got an A from the Cato Institute for the best fiscal discipline and management in the United...
  • Wisconsin Senators Tax evasion & Union Astro Turf

    02/18/2011 6:48:08 AM PST · by UMCRevMom@aol.com · 2 replies
    WISCONSIN AND LOCAL DEBT ROSE FASTER THAN FEDERAL DEBT!!! Politicians will TELL you what YOU WANT TO HEAR! Please LEARN about the Wisconsin debt crisis... check out these links: 1. http://www.usgovernmentspending.com/Wisconsin_state_spending.html 2. http://www.wistax.org/news_releases/2010/1005.html 3. http://www.wpri.org/Reports/Volume%2020/Vol20no9/Vol20no9p1.html Shades of Nero... "Rome" is BURINING while AFL-CIO plays the fiddle !!!! WHY DO YOU ALLOW UNIONS TO THINK & MANIPULATE YOU? Wake up! STOP PARTICIPATING IN THIS UNION ASTRO-TURF! Wisconsin is one or 18 states allows RECALL of Senators. Make the politicians do THEIR job STOP DEFICIT spending & BALANCE THE Budget!
  • Congressional budget office: Fiscal policy is 'unsustainable' (can't be solved thru minor changes)

    04/09/2010 7:52:02 PM PDT · by NormsRevenge · 27 replies · 896+ views
    The Hill ^ | 4/9/10 | Walter Alarkon
    Fundamental changes to the federal budget will be needed to rein in unsustainable deficits, Congress’s budget watchdog said Thursday. “U.S. fiscal policy is unsustainable, and unsustainable to an extent that it can't be solved through minor changes,” Congressional Budget Office (CBO) Director Douglas Elmendorf told reporters at a Christian Science Monitor breakfast. Spending on Medicare, Medicaid and Social Security, plus defense programs and debt interest, will exceed the rest of the federal budget in 10 years if most of the 2001 and 2003 tax cuts are extended, as President Barack Obama has proposed, Elmendorf said. “It's a matter of arithmetic,”...
  • The Death of Fiscal Federalism

    03/19/2010 7:52:19 AM PDT · by rabscuttle385 · 7 replies · 275+ views
    Reason ^ | 2010-03-17 | Veronique de Rugy
    It’s been a long time since economic policy was forged in the states. Last May the Obama administration forced South Carolina not just to take its share of federal stimulus funds, but to spend the money on new programs rather than paying down the state’s debt. I was horrified. Obama, I felt, had killed fiscal federalism. Then I realized that fiscal federalism has been dead for a long time. Fiscal federalism is the idea that states should set their own economic policies rather than following directives from Washington. Libertarians have a particular attachment to the concept. If states can differentiate...
  • Paul Ryan Could Save America

    03/04/2010 4:31:28 AM PST · by Daisyjane69 · 20 replies · 772+ views
    Whiskey and Gunpowder ^ | 3/3/10 | Doug Hornig
    Since the stunning result of the Massachusetts senatorial race, President Obama has softened his tone quite a bit, essentially saying to Republicans that if they have any good ideas, “Bring ‘em on.” Whether he’s sincere or not remains to be seen, but the implication is that he’s unworried, because in his opinion the opposition party only knows how to criticize and doesn’t have anything constructive to say. He needs to call Wisconsin Congressman Paul Ryan, ranking member of the Committee on the Budget, and have him over for tea.
  • Debt-tastrophe

    02/18/2010 3:05:18 AM PST · by Scanian · 7 replies · 428+ views
    NY Post ^ | February 18, 2010 | THOMAS M. HOENIG
    Growing demands on the federal government have invited a massive buildup of government debt now and over the next several years. US fiscal policy must focus on reducing this debt buildup and its consequences. History holds many examples of severe fiscal strains leading to major inflation. It seems inevitable that a government turns to its central bank to bridge budget shortfalls -- with the result being too-rapid money creation and eventually, not immediately, high inflation. German hyperinflation is one classic and often-cited example, and with good reason. When I was named president of the Federal Reserve Bank of Kansas City...
  • U.S. risks crisis without fiscal action: Hoenig

    02/16/2010 9:12:52 AM PST · by Cheap_Hessian · 7 replies · 311+ views
    Market Watch ^ | February 16, 2010 | Robert Schroeder
    WASHINGTON (MarketWatch) -- U.S. fiscal policy is on an "unsustainable course" and the government must adjust its spending and tax programs or risk a crisis, Kansas City Federal Reserve Bank President Thomas Hoenig said Tuesday.
  • An Obama-Sized Government. (federal fiscal policy has now run completely off the rails)

    02/02/2010 6:37:24 AM PST · by SeekAndFind · 1 replies · 339+ views
    National Review ^ | FEBRUARY 2, 2010 | The Editors
    The president has a peculiar understanding of leadership. By all accounts, federal fiscal policy has now run completely off the rails. Budgetary pressures have been building for years because of unconstrained entitlement spending and Washington’s unchecked appetite for ever-more activist government. But what had been a chronic problem that all involved knew needed corrective action has now become, in the Obama years, a full-fledged disaster in the making. According to the president’s budget, released yesterday, the federal deficit for 2010 is expected to reach nearly $1.6 trillion, a record. And that would come on top of a $1.4-trillion deficit in...
  • A Laughable Defense of the Stimulus

    10/13/2009 3:24:37 PM PDT · by fiscon1 · 5 replies · 285+ views
    The Provocateur ^ | 10/13/2009 | Mike Volpe
    don't read Slate Magazine all that often and I certainly don't read Daniel Gross that much. I have read his work on occasion and I didn't read him as a dogmatic liberal. I took him as a left of center moderate. That's why I was a bit surprised by his pathetic defense of the stimulus. The defense essentially comes down to two things 1)you can't criticize the stimulus because it hasn't really started yet and 2)that's all by design. As was planned from the start, in fact, only a small portion of the $787 billion has been spent. The Council...
  • The next big political issue? The U.S. dollar

    10/13/2009 5:32:33 AM PDT · by fiscon1 · 13 replies · 641+ views
    Reuters ^ | 10/12/2009 | James Penthokoukis
    The state of the dollar probably hasn’t been a first-tier political issue in the United States since, say, the presidential election of 1896. Back then, it manifested as whether or not America would stay on the gold standard or switch to a bimetallic one. (The William Jennings Bryan “cross of gold” speech and all that.)
  • http://theeprovocateur.blogspot.com/2009/10/stimulus-on-horizon.html

    10/03/2009 6:25:04 PM PDT · by fiscon1 · 3 replies · 318+ views
    The Provocateur ^ | 10/03/2009 | Mike Volpe
    After the grim jobs report for September, the latest D.C. watercooler rumor has the president extending a few different programs that are a part of the stimulus package. After another grim jobless report, President Obama is turning his attention to extending a lifeline to the unemployed and making the case that his health care plan would create jobs by making small business startups more affordable. The Obama administration has begun talks with congressional Democratic leaders on moves to extend health insurance subsidies, the $8,000 first-time home buyer tax credit and jobless benefits, congressional and administration officials told FOX News late...
  • LaHood: Gov't paid dealers $1.2B for 'Clunkers'

    09/11/2009 2:49:14 PM PDT · by fiscon1 · 8 replies · 290+ views
    Hampton Roads ^ | 09/11/2009 | ken Howard
    Transportation Secretary Ray LaHood says the government has approved $1.22 billion in reimbursements to car dealers for sales under the Cash for Clunkers program.
  • Debt Be Not Proud: The Sorry Tale of America’s Out-of-control Spending

    09/08/2009 6:53:18 PM PDT · by fiscon1 · 2 replies · 240+ views
    The American ^ | 09/08/2009 | John Steele Gordon
    At the end of fiscal 2008, which came on September 30 of last year, the American national debt stood at $9.6 trillion. That sum is, perhaps, quite beyond the imagining of most people. It is, after all, 250 million times the average per capita income. Even the total fortunes of the entire Forbes 400 list add up to less than 15 percent of it. To use a journalistic measure that dates back to the late 18th century—when the British national debt had become a major political issue in that country—if you laid 9.6 trillion silver dollars end to end, they...
  • Is FHA Next?

    09/06/2009 12:09:18 PM PDT · by fiscon1 · 1 replies · 296+ views
    The Provocateur ^ | 09/06/2009 | Mike Volpe
    Investor's Business Daily has an article that will raise some eyebrows for the mortgage market. Skyrocketing growth in loans from the Federal Housing Administration and Ginnie Mae have helped support the mortgage market — but could leave taxpayers on the hook for massive new losses. FHA-insured loans have more than tripled from 530,000 in fiscal year 2007 to 1.7 million thus far in 2009. The Government National Mortgage Association, which securitizes FHA loans, has boosted its mortgage-related issuance to $287 billion from $85 billion.
  • Seven Lessons of the Cash for Clunkers Debacle

    08/28/2009 5:24:26 PM PDT · by fiscon1 · 7 replies · 382+ views
    Washington Examiner ^ | 08/28/2009 | Irwin Seltzer
    It's over, finished, done. And quiet returns to the auto showrooms of America. Cash-for-Clunkers has outlived its funding. But left us with a host of useful lessons. First, government forecasters are really bad at their job. The program was originally funded with $1 billion of taxpayer money to cover rebates of $3,500-$4,500 on cars traded in for more fuel-efficient models, and the money was expected to last for about six months. It lasted for one week.
  • Banks "Too Big To Fail" Grow Bigger

    08/28/2009 1:15:36 PM PDT · by fiscon1 · 1 replies · 260+ views
    Washington Post ^ | 08/28/2009 | David Cho
    When the credit crisis struck last year, federal regulators pumped tens of billions of dollars into the nation's leading financial institutions because the banks were so big that officials feared their failure would ruin the entire financial system.
  • Obama "Redistributive Change"

    08/27/2009 6:55:47 AM PDT · by fiscon1 · 5 replies · 505+ views
    National Review ^ | 08/27/2009 | Victor Davis Hanson
    The first seven months of the Obama administration seemingly make no sense. Why squander public approval by running up astronomical deficits in a time of pre-existing staggering national debt? Why polarize opponents after promising bipartisan transcendence?
  • The Stimulus Is Definitely Working?!

    08/26/2009 1:07:47 PM PDT · by fiscon1 · 10 replies · 777+ views
    Forbes ^ | 08/26/2009 | Thomas F. Cooley and Peter Rupert
    The bloviators of the blogosphere have been in full roar the past few weeks over the claimed success of the economic stimulus program. Much of this was ignited by Christina Romer, chair of the President's Council of Economic Advisors, in a speech addressing the question of whether the stimulus was working--and concluding that it was, "absolutely."
  • Administration Pegs Long-Term Deficits at $9 Trillion

    08/25/2009 8:17:05 AM PDT · by fiscon1 · 8 replies · 228+ views
    Fox News ^ | 08/25/2009 | Foxnews
    The Obama administration on Tuesday increased its 10-year budget deficit projection to more than $9 trillion, an increase of about $2 trillion that is blamed on the bleak fiscal picture and the practices of the previous administration.
  • The Bureaucratic Nightmare of Cash for Clunkers is Just Beginning

    08/22/2009 9:29:25 PM PDT · by fiscon1 · 13 replies · 882+ views
    The Provocateur ^ | 08/11/2009 | Mike Volpe
    We've all heard that cash for clunkers is ending on Monday. Some of us have heard that only about 20% of the files have been processed. Even less than that have actually been paid. So, now, auto dealers are going to be racing against the clock to get their applications in to make sure they get paid.
  • There's No Minimizing This News

    08/22/2009 6:41:28 AM PDT · by fiscon1 · 16 replies · 634+ views
    The Provocateur ^ | 08/22/2009 | Mike Volpe
    It's standard operating procedure in D.C. When a politician has bad or embarrassing news to report, they wait until as late as possible on Friday and release said news. That's exactly what happened yesterday. The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.
  • Whole Foods

    08/17/2009 8:41:15 PM PDT · by fiscon1 · 7 replies · 593+ views
    The Agitator ^ | 08/17/2009 | The Agitator
    plan to do a lot more shopping at Whole Foods in the coming weeks. Mostly in response to the moronic boycott of the store now gaining momentum on the left.
  • Too Big to Fail” Must Die

    08/17/2009 9:18:44 AM PDT · by fiscon1 · 1 replies · 265+ views
    City Journal ^ | 08/17/2009 | Nicole Gelinas
    In an April speech to the Economic Club of New York, the chairman of the Federal Deposit Insurance Corporation, Sheila Bair, took a stand on one of today’s most pressing economic questions. The idea that certain financial firms were “too big to fail,” she said, should be “tossed in the dustbin.” Congress should pay attention. Since the early 1980s,
  • Cash for Clunkers Rears its Ugly Head

    08/16/2009 7:58:27 AM PDT · by fiscon1 · 16 replies · 753+ views
    The Provocateur ^ | 08/16/2009 | Mike Volpe
    H/T to the Weekly Standard) Here's a story that was all to predictable. A growing number of auto dealers say the process of getting paid under the government's "cash for clunkers" plan increasingly resembles some of the wrecks accumulating on their lots as part of the program. The slow payments coming from the federal government are reinforcing the paradoxical nature of the program for dealers: It has generated the most showroom traffic they have had in months while at the same time heaping unease, frustration and worry onto the industry's worst-ever downturn
  • A Jobless and Wageless Recovery

    08/13/2009 5:14:12 AM PDT · by fiscon1 · 3 replies · 355+ views
    Forbes ^ | 08/13/2009 | Nouriel Roubini
    After severe job losses in early 2009, the pace of job losses slowed starting in April, and the July numbers have brought more respite. Non-farm payroll job losses were 247,000 in July. However, the private sector lost 254,000 jobs. This is considerably better than analysts expected (around 325,000) but not good enough to claim that we are in the middle of a strong and sustainable recovery
  • Barack Obama Wants Too Much

    08/02/2009 8:01:29 AM PDT · by fiscon1 · 1 replies · 260+ views
    Times Online ^ | 08/02/2009 | Irwin Seltzer
    started out like a song ... we knew we had a good thing going. And if I wanted too much, was that such a mistake? President Barack Obama’s answer to composer Stephen Sondheim’s question would be “yes”, were he the sort who readily admits error — which he most definitely is not.
  • Still Abusing the Economy

    07/18/2009 9:17:26 AM PDT · by fiscon1 · 2 replies · 203+ views
    Forbes ^ | 07/17/2009 | Steve Forbes
    The Obama Administration is making noises about the need for a second stimulus package. This is nuts. Hyped-up government spending is useless, if not damaging, for providing sustained economic growth. Our own experiences, as well as those of other countries, particularly Japan in the 1990s and the early part of this decade, have demonstrated that repeatedly.
  • How The Dollar Works...

    07/13/2009 1:10:00 PM PDT · by fiscon1 · 1 replies · 231+ views
    The Provocateur ^ | 07/13/2009 | Mike Volpe
    Just over a month ago, Secretary Geithner spoke to Chinese university students and they laughed when he suggested that Chinese dollar assets were safe. Chinese university students are reported as having laughed at Geithner, the US Secretary of the Treasury, when he promised the Chinese students that Chinese assets in dollars are "safe". Geithner offered inclusion of China in the IMF as he sought multiple ways to engage China. One of the lesser reported aspects of the trip was Geithner's talk of change in the exchange rate between the Chinese currency and the US's.
  • The Road to Economic Demoralization

    07/11/2009 5:10:37 PM PDT · by fiscon1 · 1 replies · 268+ views
    Townhall ^ | 07/11/2009 | Larry Kudlow
    There’s no question that current government policies for taxes, spending, and regulation are causing the U.S. to lose competitiveness in the global race for capital, prosperity, and growth. Of course, China has been moving in the direction of free-market capitalism for years. To some extent, this shows the positive benefits of America’s free-trade policies and its open-mindedness in helping nurture not only China growth, but also middle-class prosperity worldwide.
  • The Balloon Deflates

    07/11/2009 5:08:29 PM PDT · by fiscon1 · 5 replies · 845+ views
    Weekly Standard ^ | 07/11/2009 | Bill Kristol
    The air is seeping out of the Great Liberal Hot Air Balloon. American liberals have been hoping, wishing, and praying--okay, maybe not praying--for over a quarter-century for an end to the ghastly interlude of conservative dominance ushered in by Ronald Reagan. Surely it was all a bad dream, a waking nightmare, a bizarre deviation from the preordained path of history. With the Democratic congressional victories in November 2006, the nightmare seemed to be ending. And in November 2008, with the election of Barack Obama and increased congressional majorities, it seemed to be over. A new era had dawned.
  • Bailouts Have Made Things Worse

    07/10/2009 1:20:31 PM PDT · by fiscon1 · 8 replies · 269+ views
    Real Clear Politics ^ | 07/10/2009 | Jeffrey Miron
    The first thing to note about the financial crisis is that the federal government never had any business intervening in the personal decision of whether you want to own a home. There is no rational economic argument, or any argument I know of, that says the market of buying and selling homes is imperfect in some way, requiring government action. Construction firms have plenty of incentive to build homes and sell them. People who have the wherewithal have plenty of incentive to buy homes if they so choose. For the government to intrude into homeownership was an off-budget, nontransparent, backdoor...
  • Time To Press the Reset Button on Obama's Domestic Agenda

    07/09/2009 7:03:30 AM PDT · by fiscon1 · 2 replies · 233+ views
    The Provocateur ^ | 07/09/2009 | Mike Volpe
    The Obama administration will continue throughout the summer to proclaim that things are still on track. The stimulus, along with their entire domestic agenda, they will claim will work. All we need to do is give it more time. In reality, we will all be following the administration off the economic and financial cliff.
  • The President's Stimulus Problem...

    07/08/2009 8:44:59 PM PDT · by fiscon1 · 1 replies · 271+ views
    The Provocateur ^ | 07/08/2009 | Mike Volpe
    One of the most poignant criticisms of the stimulus when it was being debated was that most of the stimulus was not going to be spent until 2010 and beyond. Here we had a president proclaiming that the economic apocalypse was upon us. Then, he proclaimed we had no time to debate the stimulus. Yet, the president's own estimations pointed out that the stimulus would take years and years to spend. The argument I just made about the slow nature in which the stimulus would be spent was made effectively during the stimulus debate. At the same time, the country...