News
Market Watch | FHFA house price index climbs 0.7% in February
U.S. home prices rose 0.7% on a seasonally adjusted basis in February, the Federal Housing Finance Agency said Tuesday. In the 12 months ended in February, home prices were up 7.1%, though they are still 13.6% below the index's April 2007 peak.
Bloomberg | Euro-Area April Manufacturing, Services Contract
Euro-area services and factory output shrank for a 15th month in April as the currency bloc struggled to emerge from a recession, adding to pressure on the European Central Bank to do more to boost growth.
CNN Money | China manufacturing expansion slows
Factory activity in China grew at a slower pace in April, the latest in a series of data points indicating weakness in the world's second largest economy.
Market Watch | U.S. flash PMI signals slowdown
The U.S. flash manufacturing purchasing managers index fell to a 52.0 reading in April from 54.6 in March, Markit said Tuesday.
Econ Comments & Analysis
WSJ | Home Sales See Growing Pains
Arthur Patterson received an unusual request from a real-estate agent in February: Would he consider selling his two-bedroom townhouse in Seattle's Ballard neighborhood to a buyer ready to place an offer—even though the home wasn't on the market?
Mercatus | Liberalism and Cronyism: Two Rival Political and Economic Systems
Political and economic systems either allow exchange and resource allocation to take place through mutual agreement under a system of liberalism, or force them to take place under a system of cronyism in which some people have the power to direct the activities of others.
Heritage Foundation | Congress Should Reprioritize Highway Trust Fund Money to Improve Mobility
The federal Highway Trust Fund (HTF) faces serious funding shortfalls in fiscal year (FY) 2015 and beyond, in large part due to funding demands from an expanding array of projects other than general purpose roads.
Blogs
Neighborhood Effects | Is an economically freer society a more tolerant society?
Last week was a difficult one. It’s not clear what motivated the heinous acts in Boston but it seems safe to say that intolerance played some role. New research published by Niclas Berggrenn and Therese Nilsson in the journal Kyklos suggests one way to make the world a better, more tolerant place
Tuesday, April 23, 2013
Health Care
News
CNN Money | Millions eligible for Obamacare subsidies, but most don't know it
Nearly 26 million Americans could be eligible for health insurance subsidies next year, but most don't know it.
Econ Comments & Analysis
Forbes | What If Obamacare Had Been Passed In 1860? Dr. Lawrence Dorr Offers Some Clues
U.S. Economists and politicians who should know better frequently bemoan economic inequality and wealth gaps in the most advanced and opportunity-filled country in the world. Notable here is that whether rich or poor, a pancreatic cancer diagnosis means almost certain death.
CNN Money | Millions eligible for Obamacare subsidies, but most don't know it
Nearly 26 million Americans could be eligible for health insurance subsidies next year, but most don't know it.
Econ Comments & Analysis
Forbes | What If Obamacare Had Been Passed In 1860? Dr. Lawrence Dorr Offers Some Clues
U.S. Economists and politicians who should know better frequently bemoan economic inequality and wealth gaps in the most advanced and opportunity-filled country in the world. Notable here is that whether rich or poor, a pancreatic cancer diagnosis means almost certain death.
Monetary
News
USA Today | Will 2013 be Ben Bernanke's last year at Fed?
Ben Bernanke is turning up the heat on speculation he will leave the Federal Reserve when his second four-year term as chairman ends in January.
CNBC | Fed Still Owes Congress a Blueprint on Its Emergency Lending
After the Federal Reserve lent more than $1 trillion to big banks during the 2008 financial crisis, Congress required the central bank to devise specific ways of protecting taxpayers when doling out emergency loans to financial institutions.
Econ Comments & Analysis
NBER | Banks Exposure to Interest Rate Risk and The Transmission of Monetary Policy
We show empirically that banks' exposure to interest rate risk, or income gap, plays a crucial role in monetary policy transmission.
Bloomberg | Bernanke Warned by Barnier That Bank Unit Rules Risk Retaliation
The European Union intensified its campaign against U.S. Federal Reserve proposals to toughen oversight of bank units belonging to overseas lenders, warning of “potential retaliation” against the plans because they will drive up costs.
USA Today | Will 2013 be Ben Bernanke's last year at Fed?
Ben Bernanke is turning up the heat on speculation he will leave the Federal Reserve when his second four-year term as chairman ends in January.
CNBC | Fed Still Owes Congress a Blueprint on Its Emergency Lending
After the Federal Reserve lent more than $1 trillion to big banks during the 2008 financial crisis, Congress required the central bank to devise specific ways of protecting taxpayers when doling out emergency loans to financial institutions.
Econ Comments & Analysis
NBER | Banks Exposure to Interest Rate Risk and The Transmission of Monetary Policy
We show empirically that banks' exposure to interest rate risk, or income gap, plays a crucial role in monetary policy transmission.
Bloomberg | Bernanke Warned by Barnier That Bank Unit Rules Risk Retaliation
The European Union intensified its campaign against U.S. Federal Reserve proposals to toughen oversight of bank units belonging to overseas lenders, warning of “potential retaliation” against the plans because they will drive up costs.
Taxes
Econ Comments & Analysis
Politico | Restore states’ authority to collect online sales tax
Just last month the Senate demonstrated overwhelming, bipartisan support for the Marketplace Fairness Act, a bill to level the playing field between Main Street and Internet sellers when it comes to sales tax. A symbolic show of strength, these 75 senators stand in stark contrast to those who oppose this common-sense legislation.
WSJ | The Mom & Pop Internet Sales Tax
This week the Senate is expected to vote on an Internet sales tax bill that would hurt small business and job growth in America. For small businesses, there is nothing fair about the Marketplace Fairness Act.
Washington Times | A reckless Internet sales tax
Some ideas are just bad timing, and some ideas are just plain bad. The Internet sales-tax legislation being rushed to the Senate floor, the so-called Marketplace Fairness Act, has the dubious distinction of being both.
Blogs
CATO | Why Art Laffer’s Unfortunate Endorsement of a State Sales Tax Cartel Is Misguided
Art Laffer has a guaranteed spot in the liberty hall of fame because he popularized the common-sense notion that you can’t make any assumptions about tax rates and tax revenue without also figuring out what happens to taxable income.
Politico | Restore states’ authority to collect online sales tax
Just last month the Senate demonstrated overwhelming, bipartisan support for the Marketplace Fairness Act, a bill to level the playing field between Main Street and Internet sellers when it comes to sales tax. A symbolic show of strength, these 75 senators stand in stark contrast to those who oppose this common-sense legislation.
WSJ | The Mom & Pop Internet Sales Tax
This week the Senate is expected to vote on an Internet sales tax bill that would hurt small business and job growth in America. For small businesses, there is nothing fair about the Marketplace Fairness Act.
Washington Times | A reckless Internet sales tax
Some ideas are just bad timing, and some ideas are just plain bad. The Internet sales-tax legislation being rushed to the Senate floor, the so-called Marketplace Fairness Act, has the dubious distinction of being both.
Blogs
CATO | Why Art Laffer’s Unfortunate Endorsement of a State Sales Tax Cartel Is Misguided
Art Laffer has a guaranteed spot in the liberty hall of fame because he popularized the common-sense notion that you can’t make any assumptions about tax rates and tax revenue without also figuring out what happens to taxable income.
Employment
News
CNN Money | Solar jobs outnumber ranchers in Texas, actors in California
There are more solar energy workers in Texas than there are ranchers. In California, they outnumber actors, and nationwide, America has more solar workers than coal miners.
CNN Money | Solar jobs outnumber ranchers in Texas, actors in California
There are more solar energy workers in Texas than there are ranchers. In California, they outnumber actors, and nationwide, America has more solar workers than coal miners.
Budget
News
National Journal | Reid Set to Push for Conference on Budget
Senate Majority Leader Harry Reid, is expected to ask the Senate for consent to move to a conference on the budget, according to a Democratic aide.
CNN Money | Even Abenomics can't ignore Japan debt
Investors in Japan are cheering the implementation of "Abenomics," a fresh round of government spending and drastic monetary easing designed to end 15 years of deflation.
Econ Comments & Analysis
WSJ | Obama Budget Spreads the Tax Pain
President Barack Obama's budget proposal would lead to significant tax increases on upper-income Americans, and also to moderate increases on some lower-income Americans, largely because of a new tax on tobacco products, according to an analysis by a Washington think tank.
WSJ | Limit Austerity, EU Official Says
A top European Union official signaled his support Monday for relaxing Europe's austerity drive, in what could be a significant break for countries struggling to hit tough budget targets amid persistent economic weakness.
Mercatus | Mandatory Spending Consumes 77% of Budget by FY 2023
This chart highlights the increasing share of the budget consumed by mandatory spending using projected spending estimates from the president’s FY 2014 budget and historical data from the Office of Management and Budget.
National Journal | Reid Set to Push for Conference on Budget
Senate Majority Leader Harry Reid, is expected to ask the Senate for consent to move to a conference on the budget, according to a Democratic aide.
CNN Money | Even Abenomics can't ignore Japan debt
Investors in Japan are cheering the implementation of "Abenomics," a fresh round of government spending and drastic monetary easing designed to end 15 years of deflation.
Econ Comments & Analysis
WSJ | Obama Budget Spreads the Tax Pain
President Barack Obama's budget proposal would lead to significant tax increases on upper-income Americans, and also to moderate increases on some lower-income Americans, largely because of a new tax on tobacco products, according to an analysis by a Washington think tank.
WSJ | Limit Austerity, EU Official Says
A top European Union official signaled his support Monday for relaxing Europe's austerity drive, in what could be a significant break for countries struggling to hit tough budget targets amid persistent economic weakness.
Mercatus | Mandatory Spending Consumes 77% of Budget by FY 2023
This chart highlights the increasing share of the budget consumed by mandatory spending using projected spending estimates from the president’s FY 2014 budget and historical data from the Office of Management and Budget.
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