News
CNN Money | What German vote means for Europe's economy
Germany votes on Sunday in its first national elections since the euro zone crisis exploded in 2010.
WSJ | Home Sales Hit Highest Level Since 2007
Sales of previously owned homes rose unexpectedly in August to the highest level since 2007 as buyers rushed to lock in deals before mortgage rates increased further.
CNBC | Census: No sign of economic rebound for many in US
Even as the economy shows signs of improvement and poverty levels off, new U.S. census data suggest the gains are halting and uneven. Depending on education, race, income and even marriage, not all segments of the population are seeing an economic turnaround.
Econ Comments & Analysis
Bloomberg | House Passes $39 Billion Food-Stamp Cut Crimping Lifeline
When Andres Gonzalez’s mother lost her job two years ago, the former student at South Texas College applied for food stamps, a federal aid program for the poor.
Forbes | The Financial Crisis Was A Failure Of Government, Not Free Markets
The now-famous (infamous?) “financial crisis” began five years ago (September-October 2008), in the middle of the so-called “Great Recession” (December 2007 – June 2009). This is more than enough time to gain perspective, collect the evidence, apply some logic, and achieve a valid conclusion, so such crises won’t recur in the future.
WSJ | The Government Won on Financial Reform
'Your No. 1 client is the government." So former Morgan Stanley CEO John Mack told current CEO James Gorman in a recent phone call, according to a September 10 story in the Journal. He's exactly right, which more or less sums up how American finance has evolved in the five years since the 2008 financial crisis. Far and away the biggest winner is the government.
Washington Times | The coming college crash
For the past 70 years, American higher education was assumed to be the pathway to upward mobility and a rich shared-learning experience.
Friday, September 20, 2013
Health Care
News
CNN Money | No thanks, Obamacare. I'll pay the penalty
These are some of the reasons why CNNMoney readers say they'll opt to pay a penalty for not having health insurance in 2014, rather than sign up for a policy in the state-based exchanges or through their companies.
WSJ | Pricing Glitch Afflicts Rollout of Online Health Exchanges
Less than two weeks before the launch of insurance marketplaces created by the federal health overhaul, the government's software can't reliably determine how much people need to pay for coverage, according to insurance executives and people familiar with the program.
Econ Comments & Analysis
Fortune | First glimpses of a new health care world
As health insurance is reshaped, some major corporations are switching the way they offer coverage to current employees and retirees, in a move that is likely to pave the way for major change to the American health care system.
Investors | Here's Why ObamaCare Will Drive Up Health Costs
Health Care Economy: The Affordable Care Act that takes effect in 13 days will add $621 billion to the nation's health care bill over the next decade. That's the good news. The bad news is that costs are likely to be even higher.
Blogs
CBO | The Slowdown in Health Care Spending
Growth in spending for the fee-for-service portion of Medicare has slowed markedly in the past few years—apparently not because of the financial turmoil and recession but because of other factors affecting the behavior of beneficiaries and providers.
Heritage Foundation | Medicare Reform that Saves Seniors and Taxpayers Money
America’s finances are in a mess, and Medicare is one of the main reasons. But the good news—just confirmed by the Congressional Budget Office—is that there’s a way to save money for Medicare patients and taxpayers.
CNN Money | No thanks, Obamacare. I'll pay the penalty
These are some of the reasons why CNNMoney readers say they'll opt to pay a penalty for not having health insurance in 2014, rather than sign up for a policy in the state-based exchanges or through their companies.
WSJ | Pricing Glitch Afflicts Rollout of Online Health Exchanges
Less than two weeks before the launch of insurance marketplaces created by the federal health overhaul, the government's software can't reliably determine how much people need to pay for coverage, according to insurance executives and people familiar with the program.
Econ Comments & Analysis
Fortune | First glimpses of a new health care world
As health insurance is reshaped, some major corporations are switching the way they offer coverage to current employees and retirees, in a move that is likely to pave the way for major change to the American health care system.
Investors | Here's Why ObamaCare Will Drive Up Health Costs
Health Care Economy: The Affordable Care Act that takes effect in 13 days will add $621 billion to the nation's health care bill over the next decade. That's the good news. The bad news is that costs are likely to be even higher.
Blogs
CBO | The Slowdown in Health Care Spending
Growth in spending for the fee-for-service portion of Medicare has slowed markedly in the past few years—apparently not because of the financial turmoil and recession but because of other factors affecting the behavior of beneficiaries and providers.
Heritage Foundation | Medicare Reform that Saves Seniors and Taxpayers Money
America’s finances are in a mess, and Medicare is one of the main reasons. But the good news—just confirmed by the Congressional Budget Office—is that there’s a way to save money for Medicare patients and taxpayers.
Monetary
News
Washington Times | IMF’s chief endorses Fed move to keep stimulus in place
International Monetary Fund chief Christine Lagarde on Thursday praised the Federal Reserve’s decision this week not to tap the brakes on its bond-buying program to stimulate the U.S. economy, saying it was still too soon to start the widely expected “tapering” operation on the Fed program.
Econ Comments & Analysis
Market Watch | Bullard: No rush to taper with inflation low
The Federal Reserve can "afford to be patient" as it weighs when to slow asset purchases because inflation is low, St. Louis Federal Reserve President James Bullard said Friday on Bloomberg Television.
Fortune | Behind the Fed's major stimulus blunder
By not tapering its bond purchases, the Fed risks exposing the U.S. economy to a number of ailments, which could ultimately lead to years of financial misery.
Washington Times | Five years of financial failure
Federal Reserve Board Chairman Ben S. Bernanke sent President Obama a report card this week, giving him another failing grade on the economy.
Mercatus | The Fed Needs to Taper QE to Avoid Long-Term Risks
The Federal Reserve Board today is expected to announce plans to begin tapering its latest round of quantitative easing (QE). The possibility of tapering the QE program has at times created volatility in the stock market, and supporters of the monetary stimulus have argued that QE has not increased inflation.
Blogs
Economist | Missing the forest for the QEs
Before the Fed's statement on Wednesday markets appeared to believe that some reduction in the pace of asset purchases was in order, mostly likely of around $10 billion. As it turned out the Fed was not ready to start "tapering", and some reckon that reductions may not come until December or January.
Washington Times | IMF’s chief endorses Fed move to keep stimulus in place
International Monetary Fund chief Christine Lagarde on Thursday praised the Federal Reserve’s decision this week not to tap the brakes on its bond-buying program to stimulate the U.S. economy, saying it was still too soon to start the widely expected “tapering” operation on the Fed program.
Econ Comments & Analysis
Market Watch | Bullard: No rush to taper with inflation low
The Federal Reserve can "afford to be patient" as it weighs when to slow asset purchases because inflation is low, St. Louis Federal Reserve President James Bullard said Friday on Bloomberg Television.
Fortune | Behind the Fed's major stimulus blunder
By not tapering its bond purchases, the Fed risks exposing the U.S. economy to a number of ailments, which could ultimately lead to years of financial misery.
Washington Times | Five years of financial failure
Federal Reserve Board Chairman Ben S. Bernanke sent President Obama a report card this week, giving him another failing grade on the economy.
Mercatus | The Fed Needs to Taper QE to Avoid Long-Term Risks
The Federal Reserve Board today is expected to announce plans to begin tapering its latest round of quantitative easing (QE). The possibility of tapering the QE program has at times created volatility in the stock market, and supporters of the monetary stimulus have argued that QE has not increased inflation.
Blogs
Economist | Missing the forest for the QEs
Before the Fed's statement on Wednesday markets appeared to believe that some reduction in the pace of asset purchases was in order, mostly likely of around $10 billion. As it turned out the Fed was not ready to start "tapering", and some reckon that reductions may not come until December or January.
Taxes
Econ Comments & Analysis
Heritage Foundation | Tax Reform Should Eliminate the Deduction for State and Local Taxes
House Ways and Means Committee chairman Dave Camp (R–MI) and Senate Finance Committee chairman Max Baucus (D–MT) will face many difficult decisions as they proceed on tax reform. Among them will be whether to retain certain deductions currently in the tax code, including the deduction for state and local taxes.
Heritage Foundation | Tax Reform Should Eliminate the Deduction for State and Local Taxes
House Ways and Means Committee chairman Dave Camp (R–MI) and Senate Finance Committee chairman Max Baucus (D–MT) will face many difficult decisions as they proceed on tax reform. Among them will be whether to retain certain deductions currently in the tax code, including the deduction for state and local taxes.
Employment
Blogs
WSJ | Washington Sees Incomes Soar as Most of U.S. Declines
The income of the typical D.C. household rose 23.3% between 2000 and 2012 to an inflation-adjusted $66,583, according to the Census Bureau’s American Community Survey, its most comprehensive snapshot of America’s demographic, social and economic trends. During this period, median household incomes for the nation as a whole dropped 6.6% — from $55,030 to $51,371. The state of Mississippi, which had one of the biggest declines, dropped 15% to $37,095: Nearly one in three people there have an income that is near the poverty line.
WSJ | Washington Sees Incomes Soar as Most of U.S. Declines
The income of the typical D.C. household rose 23.3% between 2000 and 2012 to an inflation-adjusted $66,583, according to the Census Bureau’s American Community Survey, its most comprehensive snapshot of America’s demographic, social and economic trends. During this period, median household incomes for the nation as a whole dropped 6.6% — from $55,030 to $51,371. The state of Mississippi, which had one of the biggest declines, dropped 15% to $37,095: Nearly one in three people there have an income that is near the poverty line.
Budget
News
National Journal | Inside Boehner's Plan To Avoid Shutdown (And Wound Obamacare)
House Republicans have orchestrated a master plan to avoid a government shutdown, delay the implementation of Obamacare, and maintain the current, post-sequester spending levels.
WSJ | Spending Battle Set for the Senate
The Senate began girding for a contentious fight over a bill to fund the government after conservatives on Thursday threatened to use delaying tactics in an effort to eliminate money for the new federal health-care law.
National Journal | Inside Boehner's Plan To Avoid Shutdown (And Wound Obamacare)
House Republicans have orchestrated a master plan to avoid a government shutdown, delay the implementation of Obamacare, and maintain the current, post-sequester spending levels.
WSJ | Spending Battle Set for the Senate
The Senate began girding for a contentious fight over a bill to fund the government after conservatives on Thursday threatened to use delaying tactics in an effort to eliminate money for the new federal health-care law.
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