News
Bloomberg |
Foreclosure Deals Drop 22% as Rising Prices Delay Sales
A total of 190,121 homes in some stage of foreclosure or taken by banks were sold this year through March 31, down 18 percent from the previous three months, the data seller said today.
Fox Business | Pending Home Sales Make Smaller-than-Expected Climb
Contracts to buy previously-owned U.S. homes rose to their highest level in three years in April, but a shortage of properties for sale could slow down the momentum.
Bloomberg |
Euro-Area Economic Confidence Climbs Amid Recession
An index of executive and consumer sentiment rose to 89.4 from 88.6 in April, the European Commission in Brussels said today. That’s in line with the median estimate in a Bloomberg News survey of 33 economists.
Market Watch | Federal mortgage modification program extended
A federal program that helps troubled homeowners receive modified mortgages is being extended by two years, and will run to the end of 2015, administration officials said Thursday.
Econ Comments & Analysis
WSJ | Exporting Natural Gas Will Stabilize U.S. Prices
Limiting LNG exports will have the unintended effect of limiting supply.
CNN: Money | A housing bubble era loan makes a comeback, with a twist
More and more people are borrowing against their brokerage accounts to buy condos and expand their businesses. That's not reassuring.
WSJ | What Would Milton Friedman Say?
Immigration opponents often try to claim the famed economist as an ally. They're mistaken.
RCM | In the World's Richest Nation, Bridges Shouldn't Collapse
Public-private partnerships have the potential to revolutionize bridge, tunnel, and road operation in the United States. Yet only thirty-two states currently have laws on the books that enable their use.
Thursday, May 30, 2013
Health Care
News
WSJ | How 3 Small Firms Are Coping With Health Law
Small employers across the U.S. are struggling to get a handle on their health-care costs under the Affordable Care Act. Many of them say they expect their operating expenses to jump in 2014, when the law's employee health-insurance requirements take effect.
Blogs
Heritage Foundation | The IRS, Obamacare, and You: The Complexity
The many federal bureaucrats working on Obamacare implementation within the IRS stand at the center of an intricate web of government and regulation that will ensnare all Americans in its grasp.
WSJ | How 3 Small Firms Are Coping With Health Law
Small employers across the U.S. are struggling to get a handle on their health-care costs under the Affordable Care Act. Many of them say they expect their operating expenses to jump in 2014, when the law's employee health-insurance requirements take effect.
Blogs
Heritage Foundation | The IRS, Obamacare, and You: The Complexity
The many federal bureaucrats working on Obamacare implementation within the IRS stand at the center of an intricate web of government and regulation that will ensnare all Americans in its grasp.
Monetary
Econ Comments & Analysis
Washington Times | SAYEGH: Three years of Dodd-Frank’s broken promises
Predictions of consumer pain have come true.
CNN: Money | Volcker: Fed will 'fall short'
The Federal Reserve has been asked to "do too much" to heal the U.S. economy and "will inevitably fall short," former Fed Chairman Paul Volcker cautioned Wednesday.
Blogs
WSJ: Real Time Economics | ECB: Financial Sector In Best Condition Since 2011
The euro zone’s financial sector is in better health now than at any time in the last two years, the European Central Bank said Wednesday in its half-yearly Financial Stability Review.
Washington Times | SAYEGH: Three years of Dodd-Frank’s broken promises
Predictions of consumer pain have come true.
CNN: Money | Volcker: Fed will 'fall short'
The Federal Reserve has been asked to "do too much" to heal the U.S. economy and "will inevitably fall short," former Fed Chairman Paul Volcker cautioned Wednesday.
Blogs
WSJ: Real Time Economics | ECB: Financial Sector In Best Condition Since 2011
The euro zone’s financial sector is in better health now than at any time in the last two years, the European Central Bank said Wednesday in its half-yearly Financial Stability Review.
Taxes
News
CNN: Money | Top 1% get big bang from tax breaks
There are more than 200 tax breaks in the U.S. tax code, and the top 10 for individuals are by far the most expensive. How expensive? They will cost federal coffers $12 trillion over the next decade.
Econ Comments & Analysis
Investors | Robin Hood' Tax Will Not Make Markets More Stable And Might Hurt Economic Growth
The proponents of the tax argue that an FTT will reduce speculative and irresponsible trading, which was allegedly behind both the financial crisis of 2008 and the sovereign crisis in Europe. But even if one believes that the ability to trade instantly, at practically zero cost, has helped to spread the panic, an FTT is not going to help.
Mercatus Center | The High Costs of a Terrible Tax Code
The Treasury forgoes approximately $450 billion per year in unreported taxes. Worse, Americans face up to nearly $1 trillion annually in hidden tax-compliance costs. And according to the IRS, taxpayers spent more than six billion hours in 2011 complying with the tax code.
NBER | The R&D Tax Credit in France: Assessment and Ex-Ante Evaluation of the 2008 Reform
This article presents an econometric analysis of the direct effects of the R&D tax credit (RTC) on private R&D in France and proposes an ex ante evaluation of the major reform implemented in 2008.
CBO | The Distribution of Major Tax Expenditures in the Individual Income Tax System
This report examines how 10 of the largest tax expenditures in the individual income tax system in 2013 are distributed among households with different amounts of income. Those expenditures are grouped into four categories:
CNN: Money | Top 1% get big bang from tax breaks
There are more than 200 tax breaks in the U.S. tax code, and the top 10 for individuals are by far the most expensive. How expensive? They will cost federal coffers $12 trillion over the next decade.
Econ Comments & Analysis
Investors | Robin Hood' Tax Will Not Make Markets More Stable And Might Hurt Economic Growth
The proponents of the tax argue that an FTT will reduce speculative and irresponsible trading, which was allegedly behind both the financial crisis of 2008 and the sovereign crisis in Europe. But even if one believes that the ability to trade instantly, at practically zero cost, has helped to spread the panic, an FTT is not going to help.
Mercatus Center | The High Costs of a Terrible Tax Code
The Treasury forgoes approximately $450 billion per year in unreported taxes. Worse, Americans face up to nearly $1 trillion annually in hidden tax-compliance costs. And according to the IRS, taxpayers spent more than six billion hours in 2011 complying with the tax code.
NBER | The R&D Tax Credit in France: Assessment and Ex-Ante Evaluation of the 2008 Reform
This article presents an econometric analysis of the direct effects of the R&D tax credit (RTC) on private R&D in France and proposes an ex ante evaluation of the major reform implemented in 2008.
CBO | The Distribution of Major Tax Expenditures in the Individual Income Tax System
This report examines how 10 of the largest tax expenditures in the individual income tax system in 2013 are distributed among households with different amounts of income. Those expenditures are grouped into four categories:
Employment
News
CNN: Money | First-time unemployment claims rise
About 354,000 people filed for their first week of unemployment benefits last week, according to seasonally adjusted figures from the Labor Department. That's 10,000 more initial claims than in the prior week, and a bit higher than economists had expected. But it's well below the 382,000 who sought help in the year-earlier period.
CNN: Money | First-time unemployment claims rise
About 354,000 people filed for their first week of unemployment benefits last week, according to seasonally adjusted figures from the Labor Department. That's 10,000 more initial claims than in the prior week, and a bit higher than economists had expected. But it's well below the 382,000 who sought help in the year-earlier period.
Budget
News
Politico | Obama to push low student loan rates
President Obama will urge Congress to take action to stop student loan interest rates from doubling at an event at the White House on Friday.
CNN: Money | Federal disability trust fund on the brink
Nearly 11 million people depend on federal disability payments ... but the system is on the verge of running short of money.
Politico | Obama to push low student loan rates
President Obama will urge Congress to take action to stop student loan interest rates from doubling at an event at the White House on Friday.
CNN: Money | Federal disability trust fund on the brink
Nearly 11 million people depend on federal disability payments ... but the system is on the verge of running short of money.
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