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A Pessimistic View of America’s Future V. When Wealth Disappears
Several of my recent posts have been pretty gloomy. “Average is Over,” “What, Me Worry?” and “The Age of Oversupply,” for example. Here’s another gloomy one. The British economist, Stephen King,...
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Who Won and Who Lost in the Fiscal Stalemate?
The mainstream media are uniformly agreed that the Democrats and President Obama “won” the latest debt ceiling and shutdown standoff and that the Republicans “lost”. For example, New York Times,...
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When Will Young Obama Supporters Wake Up and See the Light?
Yesterday’s weekend interview in the Wall Street Journal with money manager Stanley Druckenmiller, “How Washington Really Redistributes Income”, vividly illustrates how disastrous Obama economic policy...
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The Intergenerational Financial Obligations Reform (INFORM) Act
On page nine of today’s New York Times is published a full page letter to Congress and President Obama, “Enact The Inform Act”, signed by over one thousand economists as well as former government...
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Are Deficit Fears Overblown?
In yesterday’s Wall Street Journal columnist David Wessel responds too mildly in “Why It’s Wrong to Dismiss the Deficit” to Larry Summers’ view that we should not worry about the deficit. Mr....
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Is It Mean Spirited to Cut Food Stamps?
In yesterday’s Wall Street Journal, columnist William Galston writes “In Defense of Food Stamps” that “food stamps reach their intended targets, poor and near-poor Americans. The large increase in the...
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Beyond ObamaCare: Where Do We Go From Here?
Last Sunday’s Washington Post has an Op Ed column by Jon Kingsdale, “Beyond Healthcare.gov, Obamacare’s Other Challenges” which describes the many challenges confronting ObamaCare besides just the...
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Nowhere to Cut?
After five years of enormous deficits, our national debt now stands at over $17 trillion. The only spending restraint that Congress has been able to achieve so far is an approximately one trillion...
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Nowhere to Cut? II. Are You Really Trying?
The New York Times has a story today, “A Dirty Secret Lurks in the Struggle Over a Fiscal ‘Grand Bargain’”, suggesting that there are really two reasons why the House-Senate Budget Conference...
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The Floundering of America
In yesterday’s Wall Street Journal, columnist William Galston talks about “The Floundering of America”. Based on recent reports from the Congressional Budget Office, Mr. Galston says that “Today we...
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Controlling the Cost of Healthcare
The New York Times is running a series of articles, “Paying Till It Hurts,” giving many examples of the very high cost of healthcare in the U.S. today. The latest article “As Hospital Prices Soar, A...
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The Mess in Detroit: A Stern Warning for the Whole Country
An article in yesterday’s New York Times, “Detroit Ruling Lifts a Shield on Pensions”, reports a ruling by bankruptcy judge Steven W. Rhodes that Detroit “could formally enter bankruptcy and that...
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How to Get the Economy Back on Track
Harvard Economist, Martin Feldstein, has an Op Ed column in yesterday’s New York Times, “Saving The Fed From Itself”, which gets our current economic situation half right. First of all, Mr....
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Why Is It So Hard For Congress To Do Its Job?
In response to the recent budget deal which has already passed the House of Representatives, Taxpayers for Common Sense has issued a new report “Real Savings, Real Deficit Reduction: Relieving Budget...
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Oklahoma’s Senator Tom Coburn: We Need More like Him!
Senator Tom Coburn of Oklahoma has an Op Ed column in the Wall Street Journal from two days ago “The Year Washington Fled Reality”, discussing many of the things that are wrong with our national...
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Fundamental Tax Reform Is the Key to Solving Our Economic and Fiscal Problems...
I have been writing this blog for just over a year. It addresses what I consider to be the two biggest problems faced by our country at the present time. First is our enormous national debt, now over...
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Invested in America
The Business Roundtable, an association of chief executive officers of leading U.S. companies, has just issued a new report, “Invested in America: A Growth Agenda for the U.S. Economy”, describing...
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The Economic Outlook: 2014 – 2024 I. The Basic Data
The Congressional Budget Office has just issued the report ”The Budget and Economic Outlook: 2014 to 2024”, giving its usual objective and nonpartisan look at our prospects for the next ten years....
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Is Capitalism in Crisis?
The economist and public lecturer, Richard Wolff, gave an address in Omaha NE last night, entitled “Capitalism in Crisis: How Lopsided Wealth Distribution Threatens Our Democracy”. His thesis is...
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The Government We Deserve
“As for the future, your task is not to foresee it, but to enable it.” Antoine de Saint-Exupery, 1900 – 1944 An important new book, “Dead Men Ruling,” by the Urban Institute’s C. Eugene Steuerle, has...
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