News
Politico | Cut college costs to build workforce
Streamlining costs and reducing tuition in higher education is essential to our future. By 2018, more than 60 percent of American jobs are expected to require some form of postsecondary education.
Source | Welcome to the New Normal, Generation Y: Get Used to It
When we eventually get through this -- and we will -- any money you've been able to tuck away after providing for the bare needs of surviving the economy, if invested in the stock market, is going to pay off handsomely.
Politico | Census: Welfare climbed in recession
Participation in the Temporary Assistance to Needy Families program among families with children under the age of 18 jumped from 3.8 percent in 2006 to 4.8 percent in 2009, a hike in the number of recipients from about 1.4 million to 1.7 million during that time, the Census said.
Market Watch | U.S. manufacturing lightly accelerates: ISM
The U.S. manufacturing sector saw a modest acceleration in November as production and new orders picked up, according to a key gauge released Thursday.
Bloomberg | Euro Region’s Central Banks Seen Providing Up to $270 Billion Through IMF
Under the proposal, national central banks would recycle funds through the IMF, potentially to underwrite precautionary lending programs for Italy or Spain, the two countries judged to be the most vulnerable now, the people said.
WSJ | Britain Sounds Alarms on Crisis
.K. Prime Minister David Cameron on Thursday warned that a euro-zone break-up will lead to a steep decline in economic output across all the countries of Europe, including the U.K.
NY Times | Contractor’s Work Faulted at U.S. Pension Guarantor
A small company with a big contract to determine how much the government pays people whose pension plans have failed got the numbers wrong, a new audit has found.
Econ Comments
National Journal | Forget Job Creators: The Best Stimulus Is for Shoppers
After months of threatening to block another payroll tax break, Republican leadership now says it supports a $250 billion plan to cut Social Security taxes. That makes it a virtual guarantee that the typical family will get to keep an extra $1,500 of its earnings through 2012.
Fox Business | Why The Government Needs to Get Out of Housing
Fannie Mae and Freddie Mac, the monster mortgage companies that have sucked up 183 billion in taxpayer dollars, have found a new way to spend our money: Conferences.
AEI: The American | Why Keynesianism Works Better in Theory Than in Practice
The term ‘Keynesianism’ as it is commonly used contains two distinct theses. One thesis is mostly true, the other is not. Therein lies the secret to understanding America’s perilous condition.
Blogs
Calculated Risk | Europe: Hints of a Deal
European Central Bank President Mario Draghi signaled the bank could ramp up its role battling the debt crisis if euro-zone governments enforce tougher deficit cutting—suggesting outlines are emerging of a deal that investors have been clamoring to see happen.
Think Markets | Fannie, Dodd-Frank and Barney Frank
Regardless of what voters now think of Mr. Frank, Dodd-Frank, the behemoth financial regulation law he co-sponsored, will remain. Parts of it are already in place and various bureaucracies are busily churning out thousands of rules to implement its requirements.
Daily Capitalist | Increasing Evidence of a Global Industrial Recession
Manufacturing activity is contracting across Europe and most of Asia, data showed on Thursday, and a Chinese official declared that the world economy faces a worse situation than in 2008 when Lehman Brothers collapsed.
WSJ: Real Time Economics | World-Wide Factory Activity, by Country
Global manufacturing was contracted in most of the world last month, but the U.S. stood as an outlier reporting stronger expansion.
NY Times: Economix | Student Loan Debt: Who Are the 1%?
Only one-tenth of 1 percent of college entrants, and only three-tenths of 1 percent of bachelor’s degree recipients, accumulate more than $100,000 in undergraduate student debt.
