News
FOX Business | Small-Business Credit Conditions Improve
New research shows small-business credit conditions are improving in 2013, though the recovery is uneven across the United States.
National Journal | Americans’ Confidence in the Economy Is Still Trapped in the Negatives
At the beginning of the summer, polls suggested that Americans were almost starting to feel better about the economy. But as back-to-school season picks up, consumer confidence in the economy remains stuck in the negatives—and it's heading further south.
FOX Business | Mortgage Applications Fall, Rates Hit '13 HIgh
Applications for U.S. home loans fell for a third straight week as average mortgage rates hit their highest level this year, although demand for purchase loans increased, data from an industry group showed on Wednesday.
Bloomberg | Merkel Blames SPD’s Schroeder for Greece’s Euro Entry
German Chancellor Angela Merkel sought to pin the blame for the euro-region’s debt turmoil on her Social Democratic predecessor, Gerhard Schroeder, saying he should never have let Greece into the single currency area.
Market Watch | Pending home sales fall 1.3% in July
Led by drops in most of the U.S., sales contracts on homes fell 1.3% in July, a second month of declines, as mortgage rates continued to rise, according to data released Wednesday.
Econ Comments & Analysis
WSJ | More Young Adults Live With Parents
The share of young adults living with their parents edged up last year despite improvements in the economy—a sign that the effects of the recession are lingering.
AEI | FHA Watch, August 2013 (Vol. 2, No. 8)
In 1997 and 2002, the National Training and Information Center (NTIC) published two studies confirming earlier criticisms of the Federal Housing Administration’s (FHA’s) weak underwriting and program management practices going back to the early 1960s.
Blogs
Café Hayek | People are Rational and Self-Interested
Perhaps the most common way for people who do not like the conclusions of basic economic analyses to dismiss those conclusions is to allege that the assumptions used in the analyses are absurd.
Wednesday, August 28, 2013
Health Care
News
Politico | Michigan moves toward Medicaid change
Michigan took a big step Tuesday toward signing up for Obamacare’s massive Medicaid expansion, giving GOP Gov. Rick Snyder a long-sought victory to bring billions of federal dollars to implement a major part of the president’s health care law.
Econ Comments & Analysis
WSJ | Medicaid Reform That Works
Medicaid's annual price tag has exploded to $250 billion and is expected to rise even faster once ObamaCare expands the rolls by 30 million. So everyone wants to reduce costs, which is why liberal Rhode Island is the place to look.
Washington Times | Ending Republican blunders over Obamacare
The Las Vegas Sun recently reported that U.S. Senate Majority Leader Harry Reid said on a local TV program that Obamacare could lead to a single-payer national health insurance program.
Politico | Michigan moves toward Medicaid change
Michigan took a big step Tuesday toward signing up for Obamacare’s massive Medicaid expansion, giving GOP Gov. Rick Snyder a long-sought victory to bring billions of federal dollars to implement a major part of the president’s health care law.
Econ Comments & Analysis
WSJ | Medicaid Reform That Works
Medicaid's annual price tag has exploded to $250 billion and is expected to rise even faster once ObamaCare expands the rolls by 30 million. So everyone wants to reduce costs, which is why liberal Rhode Island is the place to look.
Washington Times | Ending Republican blunders over Obamacare
The Las Vegas Sun recently reported that U.S. Senate Majority Leader Harry Reid said on a local TV program that Obamacare could lead to a single-payer national health insurance program.
Monetary
News
CNN Money | The Fed's millionaires
Financial disclosure forms released Tuesday show that all seven current members of the Federal Reserve Board of Governors have assets worth more than $1 million.
Econ Comments & Analysis
WSJ | In Washington, Every Problem Is a Bank
We've been among those who find it preposterous that Washington's new board of regulatory wise men will spot emerging financial risks before they threaten the economy. After all, members of the new Financial Stability Oversight Council (FSOC) represent most of the same bureaucracies that failed to spot risks before the last crisis—and in many cases created them.
Real Clear Markets | It's Time To Ask If Dodd-Frank Will Help, or Hinder?
Last week, President Obama met with the top regulators to talk about financial reform. Given the daunting amount of Dodd-Frank implementation work on regulators' plates, a presidential pep talk was in order. In addition to words of encouragement for the weary regulators, the discussion ought to have included some soul-searching and tough love.
Bloomberg | The Fed and the Emerging Markets Peril
U.S. officials have taken to the airwaves over the last few days to absolve the Federal Reserve of blame for the recent turmoil in emerging markets, a response to some of the debate that arose from the Federal Reserve Bank of Kansas City’s annual meeting last week in Jackson Hole, Wyoming.
CNN Money | The Fed's millionaires
Financial disclosure forms released Tuesday show that all seven current members of the Federal Reserve Board of Governors have assets worth more than $1 million.
Econ Comments & Analysis
WSJ | In Washington, Every Problem Is a Bank
We've been among those who find it preposterous that Washington's new board of regulatory wise men will spot emerging financial risks before they threaten the economy. After all, members of the new Financial Stability Oversight Council (FSOC) represent most of the same bureaucracies that failed to spot risks before the last crisis—and in many cases created them.
Real Clear Markets | It's Time To Ask If Dodd-Frank Will Help, or Hinder?
Last week, President Obama met with the top regulators to talk about financial reform. Given the daunting amount of Dodd-Frank implementation work on regulators' plates, a presidential pep talk was in order. In addition to words of encouragement for the weary regulators, the discussion ought to have included some soul-searching and tough love.
Bloomberg | The Fed and the Emerging Markets Peril
U.S. officials have taken to the airwaves over the last few days to absolve the Federal Reserve of blame for the recent turmoil in emerging markets, a response to some of the debate that arose from the Federal Reserve Bank of Kansas City’s annual meeting last week in Jackson Hole, Wyoming.
Taxes
News
WSJ | Switzerland Considers Tax Deal With U.S.
Switzerland is again considering a comprehensive plan that would allow the country's banks to settle with U.S. authorities probing possible assistance given to American tax evaders.
Econ Comments & Analysis
Fiscal Times | Tax Reform Could Be Easier Than Congress Thinks
The conservative-leaning Tax Foundation issued a press release Monday touting some “good news for tax reformers”: An analysis by experts at the foundation found that a plan to dramatically simplify both the individual and corporate tax codes would cost about $1.5 trillion less than projected.
WSJ | Switzerland Considers Tax Deal With U.S.
Switzerland is again considering a comprehensive plan that would allow the country's banks to settle with U.S. authorities probing possible assistance given to American tax evaders.
Econ Comments & Analysis
Fiscal Times | Tax Reform Could Be Easier Than Congress Thinks
The conservative-leaning Tax Foundation issued a press release Monday touting some “good news for tax reformers”: An analysis by experts at the foundation found that a plan to dramatically simplify both the individual and corporate tax codes would cost about $1.5 trillion less than projected.
Employment
Econ Comments & Analysis
Forbes | It's Fact, Not Anecdote, That ObamaCare Is Turning Us Into A Part-Time Nation
The Obama administration continues to discount the huge impact its health overhaul law is having in turning America into a part-time nation, calling reports anecdotal and not based on complete data.
Blogs
Market Watch | U.S. missing 7.4 million jobs, economist calculates
How long is it going to take before the number of Americans who hold a job is considered “normal?” Try seven and a half to eight years.
Forbes | It's Fact, Not Anecdote, That ObamaCare Is Turning Us Into A Part-Time Nation
The Obama administration continues to discount the huge impact its health overhaul law is having in turning America into a part-time nation, calling reports anecdotal and not based on complete data.
Blogs
Market Watch | U.S. missing 7.4 million jobs, economist calculates
How long is it going to take before the number of Americans who hold a job is considered “normal?” Try seven and a half to eight years.
Budget
News
WSJ | California Sells $764 Million in Debt
California sold $764 million in debt Tuesday at lower-than-expected interest rates, a vote of investor confidence in the state's improved finances.
Econ Comments & Analysis
Washington Times | Another looming debt-ceiling battle
Hold on to your wallets and put your savings in a safe place, because Congress returns next week from its monthlong August recess.
Investors | Crisis? What Crisis? White House In Denial Over Budget
The federal government says it will hit its debt ceiling in October, earlier than expected. That's not shocking, but the White House's cavalier attitude is. It says it'll do "nothing" to fix this chronic problem.
Blogs
CATO | And Next Year There Will Be an Eighth Budget “Showdown”
The Washington Post’s David Fahrenthold counts six budget “showdowns” in Washington over the past two and half year. The looming battle this fall over funding the government and raising the debt ceiling will be number seven. That led Fahrenthold to examine what the six showdowns have accomplished with regard to the size of government.
WSJ | California Sells $764 Million in Debt
California sold $764 million in debt Tuesday at lower-than-expected interest rates, a vote of investor confidence in the state's improved finances.
Econ Comments & Analysis
Washington Times | Another looming debt-ceiling battle
Hold on to your wallets and put your savings in a safe place, because Congress returns next week from its monthlong August recess.
Investors | Crisis? What Crisis? White House In Denial Over Budget
The federal government says it will hit its debt ceiling in October, earlier than expected. That's not shocking, but the White House's cavalier attitude is. It says it'll do "nothing" to fix this chronic problem.
Blogs
CATO | And Next Year There Will Be an Eighth Budget “Showdown”
The Washington Post’s David Fahrenthold counts six budget “showdowns” in Washington over the past two and half year. The looming battle this fall over funding the government and raising the debt ceiling will be number seven. That led Fahrenthold to examine what the six showdowns have accomplished with regard to the size of government.
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