News
Politico | New farm bill leans on food stamps
With new leadership promises of floor time, House Agriculture Committee Chairman Frank Lucas is back with a retooled farm bill that sets a goal of $38 billion in 10-year savings while tilting more to the right by demanding greater cuts from food stamps.
CNN Money | BofA, Wells Fargo sued for mortgage settlement violation
New York has announced plans to sue Bank of America and Wells Fargo over their alleged failure to comply with last year's National Mortgage Settlement.
FOX Business | Disappointing 1Q Revenues Signal Trouble Under the Surface
With earnings season entering its final leg, don’t be fooled by record-breaking earnings per share -- revenue has been a huge disappointment.
Market Watch | U.S. home prices climb 1.9% in March: CoreLogic
U.S. home prices climbed 1.9% in March, marking the 13th straight monthly rise and a 10.5% year-on-year gain, CoreLogic said Tuesday.
Politico | TPP talks key to opening Japan
Japan’s recent decision to seek inclusion in the Trans-Pacific Partnership negotiations could be a game-changer for U.S. agriculture and good news for our country’s overall economy. We welcome the Obama’s administration announcement that it would support Japan’s inclusion, and we urge other countries to do the same.
Econ Comments & Analysis
Real Clear Markets | Lets Cut Benefits, Not Immigration
A misleading Heritage Foundation report by economists Robert Rector and Jason Richwine concludes that legalizing undocumented workers will cost America $6.3 trillion over the immigrants' lifetimes.
Forbes | Federal Student Loan Programs Subsidize Waste And Redistribution To The Wealthy
The student loan crisis has been all over the headlines lately—$1 trillion in loans with a default rate that’s high and getting higher. But direct grants, or scholarships, by the federal and state governments have just as big an effect on the world of higher education and on the nation. They, too, are in need of reform.
Bloomberg | Reinhart-Rogoff’s Lesson for Economists
What lesson can economists draw from the ruckus over a flaw found in an influential study by two Harvard University scholars? Our suggestion: Do a better job of checking one another’s work.
Washington Times | Red tape on the rise
After noting the need for a “proper balance” between making needed rules and allowing markets to work as freely as possible, he said: “Sometimes, those rules have gotten out of balance, placing unreasonable burdens on business — burdens that have stifled innovation and have had a chilling effect on growth and jobs.”
Market Watch | Flip houses to get rich, retire before next crash
Yes, flipping houses, your big new window of opportunity. Flipping commercials are increasing on drive-time radio.
NBER | Migration and Wage Effects of Taxing Top Earners: Evidence from the Foreigners' Tax Scheme in Denmark
This paper analyzes the effects of income taxation on the international migration and earnings of top earners using a Danish preferential foreigner tax scheme and population-wide Danish administrative data.
Blogs
Heritage Foundation | Debt Limit and Tax Reform: Both Important, But On Their Own
Press reports link the coming debt limit debate with the building effort for tax reform. The debt limit and tax reform are both important, but the connection ends there, as it should. Suggestions that some sort of fast-track procedure for tax reform might be the conservative “ask” in exchange for a debt limit increase are way off base.
