News
Washington Times | Freddie Mac posts profit, doesn’t request extra aid
Government-controlled mortgage giant Freddie Mac posted net income of $1.2 billion for the second quarter and isn’t requesting any additional federal aid for the period.
National Journal | 'Dream Act' Deferrals Could Top 1.7 Million
The Obama administration’s program to defer deportations for undocumented youths could encompass 1.76 million people, according to estimates released on Tuesday by the Migration Policy Institute, a nonprofit think tank.
CNN Money | Calls to scrap ethanol mandate intensify with drought
The drought that's killing crops across the Midwest and sending corn prices to record highs has revived calls to end or ease the government's requirement that corn-based ethanol be blended with gasoline.
WSJ | Europe's Output Slumps
Industrial output in the euro zone showed worrying signs of retreat in June, with Spanish production declining for its 10th straight month and German output weakening even more than economists had expected, according to official figures released Wednesday.
CNN Money | Real recovery in home prices not expected until spring
Even though home prices are rebounding in some parts of the country, the overall housing market won't start turning the corner until next spring, according to the latest forecast based on the Fiserv Case-Shiller indices.
Washington Times | U.S. worker productivity up 1.6 percent in 2nd quarter
U.S. companies got slightly more out of their workers this spring after scaling back on hiring. The modest 1.6 percent annualized gain in productivity from April through June signals that employers may need to hire more if demand picks up.
Econ Comments & Analysis
CATO | Economic Effects of Reductions in Defense Outlays
This study examines the prospective economic effects of a reduction below the current baseline in defense outlays of $100 billion per year over 10 years.
Politico | Baby boomers' economic anxiety
The first Friday of every month, the election frame is adjusted based on the latest jobs report. This intense focus, however, gives us a picture that is incomplete. We need a broader lens.
Fortune | Business's real problem: Uncertainty, uncertainty, uncertainty
It's hard for corporate chiefs to plan for the future when they're waiting for a closetful of shoes to drop.
Washington Times | Higher grocery bills knock American families lower
President Obama is busy attempting to make this election about small things and ridiculous distractions, but no matter what, Americans cannot escape the harsh realities of the Obama economy. Even a trip to the grocery store has become more difficult for struggling families.
WSJ | Defense vs. Food Stamps—What Would You Choose?
Washington is battling these days over "sequestration," the $500 billion additional cut to the defense budget looming in January. The White House and Democrats on Capitol Hill insist that intransigent Republicans are risking cuts that no one wants. This is a charade.
Washington Times | Monumental waste
Government waste is so prevalent that it rarely comes as a surprise. Bureaucrats partying at public expense, inefficient labor-union contracts and massive cost overruns are the natural consequence of giving civil servants the ability to spend money earned by others.
Blogs
CNN Money | Obama's welfare-to-work firestorm
The Republican challenger Tuesday launched a new ad charging Obama with gutting the landmark 1996 welfare reform law that requires recipients to work to receive benefits. It's another step in Romney's strategy to paint Obama as the entitlement president.
Calculated Risk | The economic impact of a slight increase in house prices
If I’m correct about house prices bottoming earlier this year – and the CoreLogic report released this morning is another indicator that prices might be increasing a little - a key question is: What will be the economic impact of slightly increasing house prices?
Heritage Foundation | U.S. Welfare System Fails to Support Work
Last Monday in The Washington Post, Charles Lane drew attention to the need for getting work incentives right in federal policy. “The Americans with Disabilities Act…enshrines the notion that every American can and should hold a job,” he pointed out, but the Social Security Disability Insurance “creates a quasi-right not to work.”
Library of Economics | Austro-Keynesianism
About four years ago, I described myself as an Austro-Keynesian. Recently, I have been asked about that concept.
