News
WSJ | Freddie Faulted on Mortgage Reviews
A federal watchdog said Freddie Mac may have given up opportunities to recover billions of dollars in claims over defaulted mortgages and suggested that a January settlement with Bank of America Corp. to resolve $1.3 billion in bad-loan claims was inadequate.
Washington Times | Fewer banks offering free checking
Charges on accounts rise to recoup revenues lost to lower card-swipe fees.
Market Watch | Sales of new U.S. homes dip in August
The sale of new single-family homes fell in August for the fourth month in a row, indicating that the depressed U.S. housing market shows no signs of recovery.
National Journal | Dems, Too, Have Raided Clean-Energy Programs
In the summer of 2009, Senate Majority Leader Harry Reid, D.-Nev., pushed through the chamber a measure that dipped into the Energy Department program, taking $2 billion to pay for extending the administration’s successful “cash for clunkers” program.
Econ Comments
WSJ | The Truth About Who Fights for Us
In 2007, only 11% of enlisted military recruits came from the poorest U.S. neighborhoods.
Market Watch | No quick fix seen for long-running debt crisis
Economists said deep divisions and fears of domestic political backlash will continue to complicate efforts to prevent a widely-expected Greek default from turning into a global financial catastrophe.
Blogs
Heritage Foundation | Tales of the Red Tape #20: The Outer Limits of Regulation
The Obama Administration has issued a record number of costly rules and regulations compared to its predecessors. But one set of new guidelines, in particular, takes government authority to new heights.
Econlog | The Myth of the Macroeconomy
There are multiple escalators in the economy. At any one point in time, some people are on up escalators, and some people are on down escalators.
Daily Capitalist | Chicago and Dallas: More Negative Data
One by one, the Fed districts are reporting declining factory and industrial activity. Today the Chicago Fed reported a decline in activity, but last Friday, the ISM PMI (manufacturing) report came out negative, showing a 2.3 point decline to 56.5. It is still over the 50 level which means positive growth, but the trend looks negative:
ThinkMarkets | Another step down the road to serfdom
As the scope of federal regulation grows, Congress finds itself increasingly embroiled in problems of economic planning.
Heritage Foundation | Restoring Personal Responsibility in Welfare
Fifteen years ago, Congress voted to “end welfare as we know it.” As a result, the Temporary Assistance for Needy Families (TANF) program was created (in place of the old Aid to Families with Dependent Children), which, for the first time, inserted work requirements and a five-year time limit for those receiving federal cash assistance.
Reports
Mercatus Center | How Friendly to Entrepreneurs are "Business Friendly" Policies?
Entrepreneurial activity is a fundamental component of economic growth and development in the United States. States that experience increased entrepreneurial activity also see higher levels of overall economic growth.
