In search of fixes for a fossilized economy

Feb 14th, 2016 Debt, Economics, Labor, Taxes Robert May 1 min read

Victor Davis Hanson writes:  The U.S. economy grew at an anemic rate of less than 1 percent in the last quarter of 2015. While the unemployment rate has dipped below 5 percent, the all-important labor force participation rate is at a historic low of just 62.7 percent. More than 90 million able-bodied adults are either not currently in the labor force or have stopped looking…

 

Government Debt Is Not Like Private Debt

Dec 8th, 2015 * RECOMMENDED READINGS, Debt, Economics, Government Bill B. May 1 min read

Simon Wilson says: As the Labour Party fights with Tories over the need to slightly rein in government spending in the UK, opponents of even the slightest bit of austerity have turned out to claim that there is no virtue in “living within your means.” In a recent article in The Guardian, Ha-Joon Chang, attacked even the Tory government’s timid claim that it wasn’t a great…

 

Obama Earns a D on Handling Economy

Nov 10th, 2015 * RECOMMENDED READINGS, Debt, Economics, Labor, Taxes Robert May 1 min read

Stephen Moore writes:   Hillary Clinton got the laugh of the week when she said that President Obama doesn’t get the credit he deserves for his economic performance. Oh, wait. She wasn’t joking. Not many Americans agree with Clinton’s charitable assessment. We just had a report of 1.5 percent growth in the most-recent quarter. Every poll for five years shows that voters are most concerned about…

 

The Oh-So-Familiar Debt Ceiling Dance

Nov 10th, 2015 * RECOMMENDED READINGS, Budget, Debt, Government Bill B. May 1 min read

Robert P. Murphy writes:   The eleventh-hour budget deal negotiated by Congress and the White House late last month may have ended the specter of a new government shutdown to the benefit and relief of the political establishment, but it didn’t resolve America’s debt crisis. It only delays the day of reckoning and, in the long run, will make matters worse, as the current $18.1 trillion…

 

There’s No Such Thing as Excessive Profits

Nov 6th, 2015 * RECOMMENDED READINGS, Debt, Economics, Regulation Bill B. May 1 min read

Robert P. Murphy says:  Problems with a “Fair Rate of Return” If you want to do business in Venezuela, you will have to let the government do your bookkeeping to make sure you aren’t making too much. Venezuelan president Nicolás Maduro’s decree, called the “Organic Law of Fair Prices,” sets a maximum “fair” profit at 30 percent of costs.  

 

Sooner Or Later, Middle Class Taxes Will Go Up

Nov 3rd, 2015 * RECOMMENDED READINGS, Budget, Debt, Economics, Government, Taxes, Taxes Robert May 1 min read

Robert Samuelson writes:  There is no tooth fairy. Republicans and Democrats take note. Taxes will surely continue to play a big role in the presidential campaign. The Republicans contend that cutting rates will do the trick; the pickup in economic growth will generate additional tax revenues. Democrats retort that raising taxes on the rich will provide needed revenues to expand progressive government. Both parties are…

 

$20 trillion man: National debt nearly doubles during Obama presidency

Nov 2nd, 2015 * RECOMMENDED READINGS, Debt, Economics, Government, National Debt Robert May 1 min read

Dave Boyer writes:  When President Obama signs into law the new two-year budget deal Monday, his action will bring into sharper focus a part of his legacy that he doesn’t like to talk about: He is the $20 trillion man. Mr. Obama’s spending agreement with Congress will suspend the nation’s debt limit and allow the Treasury to borrow another $1.5 trillion or so by the end of…

 

3 A.M. Budget Travesty Is Shameful Cave-In By GOP Leaders

Oct 31st, 2015 * RECOMMENDED READINGS, Budget, Debt, Economics, National Debt, Politics Robert May 1 min read

IBD Staff write:   Fiscal Policy: Whenever the government does something in the dead of night, you can bet it’s awful and they don’t want you to see it. That’s the case of the just-passed budget. The fiscal 2016 budget deal that emerged at 3:15 a.m. Friday was little more than a blank check for President Obama’s final two years. Now he’ll sail into retirement knowing he can spend…