This is a big story, for obvious reasons. Seniors have been a powerful lobby against benefit cuts to Social Security and if their main representative organization here in DC is OK with cutting benefits to close the funding gap, then such cuts are a lot more likely today than they were yesterday. But before you… Read more
Archive for the ‘New Posts’ Category
Netroots!
That’s where I am today, giving a presentation on the importance of manufacturing in the US and what to do about it. (I’ll post my slides once I figure out how to do so…I know, very un-Netrootsy, but hey, gimme a break…I’m over 50…at least I’m here!) Figured it out! Here they are. Key points:… Read more
Kind of a (Fiscal) Drag
When it comes to jobs and the macroeconomy, one thing you want to be worrying about right now is fiscal contraction—the fading of fiscal policies that have been helping to stimulate growth. (Oh yeah…and that debt ceiling stuff too.) There’s a good bit of it–fiscal brake pedaling–baked in the cake including the fading of the… Read more
And Now For Something Uplifting
Lots to be bummed out around these days in the political economy space, but you’ve got to feel good about this (from The Hill): “The Senate voted 73-27 Thursday to kill a major tax break that benefits the ethanol industry, handing a political win to a bipartisan group of lawmakers that call the incentive needless… Read more
Liquidity Vs. Insolvency
The more I read about the Greek debt crisis, the more convinced I become that policy makers are looking at an insolvency problem but seeing a liquidity problem. Getting this wrong is a great way to make a bad situation both worse and more protracted. In a liquidity crunch, your banks are sitting on bad… Read more