News
Market Watch | Leading economic index drops 0.2% in November
The U.S. economy looks to be slowing, the Conference Board said Thursday as it reported its leading economic index dropped in November. The leading economic index dropped 0.2% in November, in line with the MarketWatch-compiled economist consensus and the fourth fall of the year.
Market Watch | Sales of existing homes rise 5.9% in November
Sales of existing homes rose 5.9% in November to a seasonally adjusted annual rate of 5.04 million, reaching the highest rate since November 2009, when a tax credit was expected to expire.
WSJ | Senate GOP to Propose $24 Billion Sandy Package
Senate Republicans will soon propose a $24 billion aid package for superstorm Sandy rebuilding efforts as an alternative to the $60 billion plan being pressed by Senate Democrats.
Bloomberg | Obama Proving $418 Billion Bailout No Failure as GM Buys
The U.S. Treasury’s plan to sell its remaining 32 percent stake in General Motors Co. (GM) is a leap forward for the Obama administration’s effort to end a $418 billion bailout program that in four years was transformed from a political albatross to a winning campaign issue.
Washington Times | U.S. economy grew by 3.1 percent in summer
The U.S. economy grew at an annual rate of 3.1 percent over the summer as consumers spent more and state and local governments added to growth for the first time in three years — but the economy is likely slowing in the current quarter.
WSJ | Report Says Libor-Tied Losses at Fannie, Freddie May Top $3 Billion
That figure is among the largest potential losses reported amid the unfolding Libor scandal and comes as federal officials remain mum on how the alleged manipulation cost the government.
Econ Comments & Analysis
AEI | How to restructure Social Security
To see how we might reform the structure of Social Security, we need to get into the nitty-gritty details of how the program works. Social Security benefits are financed by a payroll tax on earnings. While the payroll tax discourages work, it doesn't always do so to the same extent as the income tax.
WSJ | Arthur Brooks: America's Dangerous Powerball Economy
Unearned income—as from the lottery or entitlements—doesn't buy happiness.
Source | A Process for Cleaning Up Federal Regulations
This paper suggests a process to identify, evaluate, and eliminate inefficient regulations.
WSJ | How Washington Crowds Out Private Lending
Government loans to students and banks should help markets, not supplant them.
Market Watch | The real meaning of rising home prices
As home prices continue to climb, some analysts are questioning whether that alone indicates the housing market is truly in recovery mode.
Heritage Foundation | Three Social Security Fixes to Solve the Real Fiscal Crisis
As a solution is found to the fiscal cliff, policymakers should include the first steps toward fixing Social Security.
Blogs
Econ Lib | Does An Increase in Supply Lead to Higher Prices
Why is it profitable for Saudi Arabia that Canada extracts oil from its tar sands?
WSJ: Real Time Economics | Philly Fed Manufacturing Bounces Back
Business conditions for mid-Atlantic manufacturers this month improved dramatically, according to a report released Thursday by the Federal Reserve Bank of Philadelphia.
