Details at PostEverything. Everyone’s wound up about precisely when liftoff will occur (when the Fed will first raise interest rates after about six years at about zero) but I think the big story is that the Fed lowered their “natural rate,” the unemployment rate consistent with stable inflation. It’s a confusing time for Fed macromanagement… Read more
House Republicans released their budget today, and I found it to be…um…how can I put this nicely?…orthogonal to reality. As I wrote earlier: The policies put forth in this document suggest that America’s main problem is that the poor have too much and the wealthy, too little. The budget plan “corrects” this perceived imbalance by… Read more
Good old Ez Klein provides a highly efficient and important summary of what can happen when the federal government turns the administration of a program over to the states in the form of a block grant: A block grant takes money the federal government is already spending on a program and gives it to the… Read more
Over at PostEverything. And if you have the time, listen to the Alan Manning lecture at LSE. In fact, I find that LSE podcast series to be a goldmine. And if you jog as slowly as I do, you can get through a full lecture, including Q&A! Learn while you burn, OTE’ers!
I respond to Megan McArdle…it would appear that we have different reference points for evaluating living standards and even liberty!