News
CNN Money | Home building surges
Builders rushed to start homes in November, with that key measure of the housing recovery enjoying a huge one-month jump.
WSJ | New Mortgages to Get Pricier Next Year
Consumers can expect to pay more to get a mortgage next year, the result of changes meant to reduce the role that Fannie Mae and Freddie Mac play in the market.
Econ Comments & Analysis
Weekly Standard | Subsidizing Rich and Poor
There is a vintage Corvette parked on the street nearby, a 1977 canary yellow model in perfect condition. The NADA Blue Book says it’s worth around $15,000.
Real Clear Markets | The Obama Administration Has Run Out of Ideas
For more than two years, Congress, the insurance industry and insurance consumers have been waiting for the report of the Federal Insurance Office (FIO)-an agency set up within the Treasury Department by the Dodd-Frank Act.
Fortune | The Volcker Rule: Complexity trumps common sense
Great sound bites often make for bad policy, because things that seem wonderful and simple in the abstract frequently turn out to be hideously complicated when you try to apply them in real life. That's my takeaway from the Volcker Rule, which was unveiled in mid-December after five different federal financial regulatory agencies -- another example of real-world complexity -- finally signed off on it.
WSJ | Bloomberg's Real Antipoverty Record
In November 2011, a domestic violence survivor named Joyce B. took her four children and left an abusive partner. Unemployed and now homeless, she turned to New York City for help.
Real Clear Markets | What You Missed Amid the Volcker Rule's Finalization
Last week, as all eyes were fixed on the finalization of the Volcker Rule, another long-awaited Dodd-Frank document was released.
American Spectator | Of 'Equality' and Other Ancient Frauds
The minimum wage fracas emerging in politics highlights the mother of all political fracases: the one titled, Who Gets What? Anybody surprised to see the question emerge in early 21st-century America must have been doodling on the history book cover when -- just for example -- the French Revolution heaved into sight. Who started and carried on the revolution?
CBO | The 2013 Long-Term Projections for Social Security: Additional Information
Social Security is the federal government’s largest single program. Of the 58 million people who currently receive Social Security benefits, about 70 percent are retired workers or their spouses and children, and another 11 percent are survivors of deceased workers; all of those beneficiaries receive payments through Old-Age and Survivors Insurance (OASI).
Blogs
Library of Economics | How Big of a Deal Is Social Security?
The issue, of course, is not whether the government can make Social Security solvent: lower benefits, higher taxes, or means-testing would all do the trick. The issue, rather, is how big these adjustments would have to be.
WSJ | Low Inflation Tests World's Central Banks
Inflation is slowing across the developed world despite ultralow interest rates and unprecedented money-printing campaigns, posing a dilemma for the Federal Reserve and other major central banks as they plot their next policy moves.
Wednesday, December 18, 2013
Health Care
News
National Journal | Obamacare's Unlikely Winners
After angrily calling her state auditor's office, Spanke, a self-employed artist in her 50s, found she was eligible for a federal subsidy. Her new insurance will cover her for a mere $30 to $40 a month with a deductible of only $500. She had been paying $350 a month for a Blue Cross policy with a $5,000 deductible. "I went from a horrible policy that didn't cover anything, that was breaking me, to the best policy at the best price I've had since I was in my 20s," she said.
CNN Money | The new inequality: health care
Inequality between the rich and the poor is on the rise, and we're not just talking income.
Econ Comments & Analysis
Washington Times | Why Millennials are jumping off the Obamacare bandwagon
Since its launch on Oct. 1, the Obamacare rollout has encountered many failures, especially when it comes to the website, Healthcare.gov. However, perhaps of most concern to the White House is declining support among young people for President Obama’s signature legislation.
National Journal | Obamacare's Unlikely Winners
After angrily calling her state auditor's office, Spanke, a self-employed artist in her 50s, found she was eligible for a federal subsidy. Her new insurance will cover her for a mere $30 to $40 a month with a deductible of only $500. She had been paying $350 a month for a Blue Cross policy with a $5,000 deductible. "I went from a horrible policy that didn't cover anything, that was breaking me, to the best policy at the best price I've had since I was in my 20s," she said.
CNN Money | The new inequality: health care
Inequality between the rich and the poor is on the rise, and we're not just talking income.
Econ Comments & Analysis
Washington Times | Why Millennials are jumping off the Obamacare bandwagon
Since its launch on Oct. 1, the Obamacare rollout has encountered many failures, especially when it comes to the website, Healthcare.gov. However, perhaps of most concern to the White House is declining support among young people for President Obama’s signature legislation.
Monetary
News
Bloomberg | Fed Decision Day Guide From Tapering QE to Employment Thresholds
Here’s what to look for when the Federal Open Market Committee releases its statement today at 2 p.m. after a two-day meeting in Washington. The panel will also provide new economic forecasts, and Federal Reserve Chairman Ben S. Bernanke will hold a news conference at 2:30 p.m.
WSJ | Low Inflation Tests World's Central Banks
Inflation is slowing across the developed world despite ultralow interest rates and unprecedented money-printing campaigns, posing a dilemma for the Federal Reserve and other major central banks as they plot their next policy moves.
CNBC | What the Fed meeting could mean for the dollar
The outcome of Wednesday's Federal Reserve meeting is expected to set the tone for trade in the U.S. dollar heading into 2014, whatever decision is reached on the highly-anticipated tapering of monetary stimulus.
Econ Comments & Analysis
Investors | Fed Monetary Policy Can't Solve Our Economic Ills
The final meeting of the year for the Federal Reserve's Open Market Committee will ideally result in the Fed finding a way out of its asset purchase, or Quantitative Easing (QE), program.
Market Watch | The case for the Fed tapering today
To sum up why I still say the Federal Open Market Committee will start tapering its bond-buying program at the end of its policy meeting this afternoon: It’s because it can.
Blogs
Economist | Time for taper?
Tomorrow your correspondent will board a plane back to America for a holiday sojourn. I will be in flight when the Federal Open Market Committee announces...whatever it is it will announce.
WSJ | A Look Inside the Fed’s Balance Sheet
As the Federal Reserve debates whether to keep buying $85 billion of bonds a month, the assets on its balance sheet are on the cusp of surpassing $4 trillion for the first time.
Bloomberg | Fed Decision Day Guide From Tapering QE to Employment Thresholds
Here’s what to look for when the Federal Open Market Committee releases its statement today at 2 p.m. after a two-day meeting in Washington. The panel will also provide new economic forecasts, and Federal Reserve Chairman Ben S. Bernanke will hold a news conference at 2:30 p.m.
WSJ | Low Inflation Tests World's Central Banks
Inflation is slowing across the developed world despite ultralow interest rates and unprecedented money-printing campaigns, posing a dilemma for the Federal Reserve and other major central banks as they plot their next policy moves.
CNBC | What the Fed meeting could mean for the dollar
The outcome of Wednesday's Federal Reserve meeting is expected to set the tone for trade in the U.S. dollar heading into 2014, whatever decision is reached on the highly-anticipated tapering of monetary stimulus.
Econ Comments & Analysis
Investors | Fed Monetary Policy Can't Solve Our Economic Ills
The final meeting of the year for the Federal Reserve's Open Market Committee will ideally result in the Fed finding a way out of its asset purchase, or Quantitative Easing (QE), program.
Market Watch | The case for the Fed tapering today
To sum up why I still say the Federal Open Market Committee will start tapering its bond-buying program at the end of its policy meeting this afternoon: It’s because it can.
Blogs
Economist | Time for taper?
Tomorrow your correspondent will board a plane back to America for a holiday sojourn. I will be in flight when the Federal Open Market Committee announces...whatever it is it will announce.
WSJ | A Look Inside the Fed’s Balance Sheet
As the Federal Reserve debates whether to keep buying $85 billion of bonds a month, the assets on its balance sheet are on the cusp of surpassing $4 trillion for the first time.
Taxes
News
Politico | Paul Ryan wants House tax-writing gavel in 2015
Paul Ryan will seek to become the next chairman of the Ways and Means Committee, a move that would bring instant star power to the cause of tax reform while complicating his presidential ambitions.
Politico | Paul Ryan wants House tax-writing gavel in 2015
Paul Ryan will seek to become the next chairman of the Ways and Means Committee, a move that would bring instant star power to the cause of tax reform while complicating his presidential ambitions.
Employment
News
National Journal | Bipartisan Miracle? Senate Republicans Open to Unemployment Extension
Senate Republicans are willing to discuss an extension of long-term unemployment benefits early next year, as long as it is paid for, several of them told National Journal on Tuesday.
Econ Comments & Analysis
CNN Money | Maryland: A minimum wage battleground
More workers in Maryland will get a boost in pay as a second county in the state has agreed to raise its minimum wage.
National Journal | Bipartisan Miracle? Senate Republicans Open to Unemployment Extension
Senate Republicans are willing to discuss an extension of long-term unemployment benefits early next year, as long as it is paid for, several of them told National Journal on Tuesday.
Econ Comments & Analysis
CNN Money | Maryland: A minimum wage battleground
More workers in Maryland will get a boost in pay as a second county in the state has agreed to raise its minimum wage.
Budget
Econ Comments & Analysis
Politico | This Budget Deal Is Not Conservative
For months, my group, Americans for Prosperity (AFP), and our grassroots activists have been united in support of the discretionary spending limits established in the 2011 Budget Control Act. Our reason is simple: Although these cuts are modest, so-called sequestration is the only successful bipartisan spending restraint passed under an administration that has allowed the nation’s debt to balloon by almost $7 trillion.
Politico | This Budget Deal Is Not Conservative
For months, my group, Americans for Prosperity (AFP), and our grassroots activists have been united in support of the discretionary spending limits established in the 2011 Budget Control Act. Our reason is simple: Although these cuts are modest, so-called sequestration is the only successful bipartisan spending restraint passed under an administration that has allowed the nation’s debt to balloon by almost $7 trillion.
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