Housing
Business & Economics
Artificially low interest rates bad for economy
Ultra-low interest rates fueled the housing bubble, thanks to former Fed chairman Alan Greenspan’s direction. And Americans should brace for another crash because that practice has continued. The Federal Reserve’s Open Market Committee recently announced it would maintain a target of zero to 0.25 percent for the federal funds rate ...
Business & Economics
Bankers vs. Everyone
Libertarian Ron Paul’s “Audit the Fed” movement has gained the support of socialist Sen. Bernie Sanders (I-Vt.) and conservative Sen. Jim DeMint (R-S.C.). At the same time, anarchists in Greece riot against fiscal austerity measures, while organs of the strongest government on the planet—namely, the U.S. Justice Department and SEC—accuse ...
Health Care
Repeal and Replace, But With What?
Key Points: Republicans in Congress appear to be solidly committed to repealing ObamaCare. Republicans’ last attempt at reforming health insurance, the Health Insurance Portability and Accountability Act of 1996 (HIPAA), did not solve the problems of portability and coverage for pre-existing conditions, the stated goals of the Act. The official ...
Business & Economics
Pension crater much deeper
SACRAMENTO – A new report from Stanford University’s well-respected economic policy institute has revealed that those of us who have been warning about California’s severely underfunded public employee retirement systems have, quite frankly, been wrong. We have been understating the scope of the problem. Pension critics, myself included, have been ...
Business & Economics
A bone to pick with Bartlett on federal spending
Reps. Jeb Hensarling and Mike Pence recently called for a constitutional amendment limiting federal spending “to one-fifth of the economy.” Bruce Bartlett, a former official in the George H.W. Bush administration, promptly denounced the idea as “dopey,” one “terrible… on so many levels that it is hard to know where ...
Business & Economics
The $2 Trillion Hole
Promised pensions benefits for public-sector employees represent a massive overhang that threatens the financial future of many cities and states. LIKE A CALIFORNIA WILDFIRE, populist rage burns over bloated executive compensation and unrepentant avarice on Wall Street. Deserving as these targets may or may not be, most Americans have ignored ...
Commentary
Single-Payer and Group Coverage Empower Government, Not the People
I agree with Professor Chaufan that the “reforms” many states embraced to expand coverage with private insurance have failed, but disagree that it is because of a lack of government power. In fact, such reforms massively increase government power. For example, Massachusetts’ latest reform (passed by Governor Romney in 2006) ...
Commentary
Harkin’s Health Care Summit Non-Sequitur
One of the great things about the health summit was getting to witness certain members’ rhetorical skills and getting to hear how they think about things. One of the most revealing comments was made by Senator Tom Harkin (D-Iowa), who lamented that people whose medical bills are higher have to ...
Commentary
What Are Republicans Talking about When Republicans Talk about ‘Buying Health Insurance Across State
The Republican health-reform bill (H.R. 4038 § 221) also retains this discriminatory tax-treatment, but contains 27 pages of legalese that purports to make it easier for Americans to buy health insurance across state lines. Unfortunately, it makes little sense once you get past the crowd-pleasing title. For example: “The primary ...
Business & Economics
Repair California’s Fiscal Problems Ourselves – or the Capital Markets Will
Events in Washington, D.C. have overshadowed the ongoing fiscal calamity in Sacramento, where earlier this month state legislators basically rejected the governors reforms almost as soon as they were released. Despite the uncertainty shrouding the capital, the budget crisis will be solved one way or another. This certainty is ...
Artificially low interest rates bad for economy
Ultra-low interest rates fueled the housing bubble, thanks to former Fed chairman Alan Greenspan’s direction. And Americans should brace for another crash because that practice has continued. The Federal Reserve’s Open Market Committee recently announced it would maintain a target of zero to 0.25 percent for the federal funds rate ...
Bankers vs. Everyone
Libertarian Ron Paul’s “Audit the Fed” movement has gained the support of socialist Sen. Bernie Sanders (I-Vt.) and conservative Sen. Jim DeMint (R-S.C.). At the same time, anarchists in Greece riot against fiscal austerity measures, while organs of the strongest government on the planet—namely, the U.S. Justice Department and SEC—accuse ...
Repeal and Replace, But With What?
Key Points: Republicans in Congress appear to be solidly committed to repealing ObamaCare. Republicans’ last attempt at reforming health insurance, the Health Insurance Portability and Accountability Act of 1996 (HIPAA), did not solve the problems of portability and coverage for pre-existing conditions, the stated goals of the Act. The official ...
Pension crater much deeper
SACRAMENTO – A new report from Stanford University’s well-respected economic policy institute has revealed that those of us who have been warning about California’s severely underfunded public employee retirement systems have, quite frankly, been wrong. We have been understating the scope of the problem. Pension critics, myself included, have been ...
A bone to pick with Bartlett on federal spending
Reps. Jeb Hensarling and Mike Pence recently called for a constitutional amendment limiting federal spending “to one-fifth of the economy.” Bruce Bartlett, a former official in the George H.W. Bush administration, promptly denounced the idea as “dopey,” one “terrible… on so many levels that it is hard to know where ...
The $2 Trillion Hole
Promised pensions benefits for public-sector employees represent a massive overhang that threatens the financial future of many cities and states. LIKE A CALIFORNIA WILDFIRE, populist rage burns over bloated executive compensation and unrepentant avarice on Wall Street. Deserving as these targets may or may not be, most Americans have ignored ...
Single-Payer and Group Coverage Empower Government, Not the People
I agree with Professor Chaufan that the “reforms” many states embraced to expand coverage with private insurance have failed, but disagree that it is because of a lack of government power. In fact, such reforms massively increase government power. For example, Massachusetts’ latest reform (passed by Governor Romney in 2006) ...
Harkin’s Health Care Summit Non-Sequitur
One of the great things about the health summit was getting to witness certain members’ rhetorical skills and getting to hear how they think about things. One of the most revealing comments was made by Senator Tom Harkin (D-Iowa), who lamented that people whose medical bills are higher have to ...
What Are Republicans Talking about When Republicans Talk about ‘Buying Health Insurance Across State
The Republican health-reform bill (H.R. 4038 § 221) also retains this discriminatory tax-treatment, but contains 27 pages of legalese that purports to make it easier for Americans to buy health insurance across state lines. Unfortunately, it makes little sense once you get past the crowd-pleasing title. For example: “The primary ...
Repair California’s Fiscal Problems Ourselves – or the Capital Markets Will
Events in Washington, D.C. have overshadowed the ongoing fiscal calamity in Sacramento, where earlier this month state legislators basically rejected the governors reforms almost as soon as they were released. Despite the uncertainty shrouding the capital, the budget crisis will be solved one way or another. This certainty is ...
