News
Bloomberg | White House Cuts Red Tape Tangling Car Fumes, Spilled Milk
The White House announced today that 30 U.S. agencies are seeking to repeal or modify regulations in an effort to reduce reporting requirements and save businesses and individuals billions of dollars in compliance costs.
WSJ | U.S. Regulators Aim to Extend Reach
Agencies Weigh Oversight of Certain Financial Transactions by Foreign Central Banks, Sovereign Funds.
Bloomberg | U.S. Economy Expanded 1.8% in First Quarter, Less Than Economists Forecast
The U.S. economy grew at a 1.8 percent annual rate in the first quarter, less than forecast, reflecting a smaller gain in consumer spending than previously calculated.
Market Watch | Orders for durable goods fall 3.6% in April
U.S. orders for durable goods fell sharply in April, mainly because of lower demand for aircraft and autos, the government reported Wednesday.
CNBC | Sales of Distressed US Homes Fall in First Quarter
Sales of homes owned by banks or in some stage of foreclosure totaled 158,434, down 16.5% from the fourth quarter and 35.8% from the first quarter of 2010.
WSJ | U.S. Falls Behind in Stock Listings
Executives from LinkedIn Corp., reveling in their enormously successful initial public offering last Thursday, rang the New York Stock Exchange's opening bell. Big money, big smiles, the kind of moment that made the NYSE the Big Board.
Washington Times | House members in the know score ‘abnormal’ stock profits, study says
It’s no secret that members of Congress qualify as political insiders, but a new report strongly suggests that they also may be insiders when it comes to trading stocks.
Econ Comments
Market Watch | Ex-Fed insider: Oil runup partly bank’s fault
former high-ranking Federal Reserve official told Congress on Wednesday that higher oil prices and rising inflation are “partly a predictable byproduct” of the bank’s effort to goose the U.S. economy.
CNN: Money | End Big Oil's tax breaks now
It's time to truly level the playing field and give all forms of energy a chance to compete.
Market Watch | G-8 leaders to discuss economy, Arab spring
Obama to hold bilateral meetings with leaders of Japan, Russia.
Cato@Liberty | Transportation: From the Top Down or Bottom Up?
Should transportation be funded and planned from the top down or bottom up? Top-down advocates, such as the Brookings Institution's Robert Puentes argue that only central planners can have a "clear-cut vision for transportation" that will allow them to target spending "to make sure all those billions of dollars help achieve our economic and environmental goals."
National Journal | Alexander Says He'd Support Cutting Oil, Wind Subsidies
Senate GOP Conference Chairman Lamar Alexander of Tennessee would support cutting a variety of subsidies, ranging from wind to oil, while putting that money toward energy research and deficit reduction.
RCM | Let's Leave Our Roads to the States
As Americans take to the roads on Memorial Day weekend, almost all are blissfully ignorant that Congress must pass a highway bill by September 30, when authorization for the Highway Trust Fund expires.
Washington Times | FRANS: Too many rules could mean too few votes
Americans send White House warning about over regulation.
Blogs
The Economist | BRICmanship
I must confess to feeling a bit disappointed with the BRICs this morning. Here I was thinking they were poised to run the world and it turns out they can’t even stop the French running the IMF. At this point, it’s no good them railing against unwritten conventions. It’s time to start rallying behind a flesh-and-blood candidate.
WSJ | The Generation Gap Widens in the South and West
New data out Thursday from the Census Bureau show that every state saw its population of individuals 45 and older grow during the past decade, as the baby boomers age.
Heritage Foundation | Americans Fear Government Regulations Are Choking The Economy
What’s the monster under the bed keeping Americans up at night? Government regulations. According to a new poll, most voters say that too many federal government regulations are more of an economic threat than too few.many federal government regulations are more of an economic threat than too few.
Calculated Risk | Vehicle Miles Driven decreased 1.4% in March compared to March 2010
The Department of Transportation (DOT) reported that vehicle miles driven in March were down 1.4% compared to March 2010:
Reports
CBO | Analysis of Amendment H.R. 1229
Your amendment to H.R. 1229 would change a portion of the liability scheme established by the Oil Pollution Act of 1990 (OPA) for the owners and operators of oil and gas drilling platforms that operate in the coastal waters of the United States. Specifically, the amendment would make those owners and operators subject to unlimited liability for any damages caused by an oil spill resulting from offshore platforms.
Mercatus Center | Transparency, Transition, and Taxpayer Protection: More Steps to End the GSE Bailout
Chairman Garrett, Ranking Member Waters, and distinguished members of the Subcommittee, thank you for inviting me to testify today. I have been asked to offer opinions on “Transparency, Transition and Taxpayer Protection: More Steps to End the GSE Bailout.”
CBO | Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from January 2011 Through March 2011
The American Recovery and Reinvestment Act of 2009 (ARRA) contains provisions that are intended to boost economic activity and employment in the United States. Section 1512(e) of the law requires the Congressional Budget Office (CBO) to comment on reports filed by recipients of ARRA funding that detail the number of jobs funded through their activities. This CBO report fulfills that requirement.
