News
The West Australian | Wealthy Japan has means to recover: IMF
The International Monetary Fund said on Thursday that Japan has the financial means to recover from a devastating earthquake and ensuing massive tsunami.
CNBC | US Cost of Living Hits Record, Passing Pre-Crisis High
A special index created by the Labor Department to measure the actual cost of living for Americans hit a record high in February...
Washington Times | Budget-busting station named for Biden
As a thank-you to its most famous customer, Amtrak is renaming the train station in Wilmington, Del., after stimulus “sheriff” Vice President Joseph R. Biden — after the project received $20 million in stimulus money and came in $5.7 million over the initial announced budget.
National Journal | Global Economy Keeps Wary Eye on Japan
After a conference call on Thursday night, G-7 finance ministers said in a written statement that they would join with Japan to act to stabilize the yen.
CNN | House votes to stop NPR funding
The House of Representatives passed legislation Thursday that would bar federal funding for National Public Radio -- a longtime target of conservatives irritated by what they consider the outlet's liberal bias.
Fox | Reid Says He Won't Consider Changes to Social Security Until He's 91
Despite the growing drumbeat in Washington for entitlement reform to tackle the federal deficit, Reid said Wednesday evening that changes to the program are not something he will even consider talking about, much less acting on.
CNN Money | Japan's crisis hangs over U.S.
Problems in Japan have become exhibit A in what economists say is the greatest threat to the recovery in the United States -- uncertainty overseas.
Econ Comments
Cato | Housing Market Will Be Fine without 30-Year Fixed Loans
As Congress begins debating the future of Fannie Mae and Freddie Mac, proponents of keeping the taxpayer on the hook for the mortgage market argue that without such support the 30-year fixed-rate mortgage would disappear. The advantages of the 30-year mortgage have, however, been grossly exaggerated. Subsidizing it should not serve as an excuse for continuing to put the taxpayer at significant risk.
WSJ | Progressive Government Is Obsolete
The rule-based civil service was a step forward from Tammany Hall. But today's regulations stifle government workers at a time when getting value for tax dollars is more important than ever.
RCM | Seeking Rational Regulatory Reform
This year America's elected leaders rediscovered the idea that federal regulatory agencies should consider the effect of regulations on the economy before they impose new rules.
Blogs
Café Hayek | DeLong vs Cowen
Buy the bigger house or spend another trillion and you may find yourself in an unexpected situation that is not pleasant.
EconLog | Crowding Out: A New Subject
My problem with fiscal stimulus is that I believe we need permanent adjustment to new sustainable patterns of trade, not temporary moves. I think that if you want to eliminate unemployment in a meaningful way, you have to know something about where people ought to be employed, and Washington does not have that information.
Reports
Cato | Consumer Prices Higher Than Expected in February
The Federal Reserve is supposed to be a monetary servant, but its masters in the general public don’t seem to be able to control it. Its actions keep distorting returns in the economy and creating bubble after bubble.
RCM: Wells Fargo | Consumer Prices Higher Than Expected in February
Consumer prices came in at the high end of expectations in February. While markets were expecting the overall index to be high, the expectation was for the core consumer price index to remain muted.
