News
National Journal | The Best and Worst 2013 Predictions
In 2013, Bashar al-Assad was ousted from Syria, unemployment remained at 8 percent, and the Washington Redskins won the Super Bowl.
Market Watch | Leading economic index rises 0.8% in November
The leading economic index for the U.S. rose 0.8% in November to 98.3 from 97.5 in the prior month, the Conference Board said Thursday.
CNN Money | Is the economy as good as it looks?
On Wednesday the Federal Reserve felt confident enough to begin slowly withdrawing the huge economic stimulus the central bank has been pumping into the economy.
Bloomberg | Consumer Comfort in U.S. Rises to Highest Level Since September
Consumer confidence rose last week to the highest level since September, recovering the ground lost as a result of the partial federal shutdown and a sign the economy is regaining momentum.
Market Watch | 30-year-mortgage rate rises to 4.47%
The average rate for a 30-year fixed-rate mortgage rose to 4.47% in the week that ended Dec. 19 from 4.42% in the prior week, according to a Thursday report from federally controlled mortgage buyer Freddie Mac.
National Journal | Most Americans Want Tougher Food-Stamp Requirements
Driven by a strong sense the food-stamp program is rife with abuse, two-thirds of Americans say they want to make it harder for people to receive assistance by requiring recipients to be drug-free and looking for work.
Market Watch | Philly Manufacturing index recovers slightly in December
Manufacturing in the Philadelphia region rebounded only slightly in December after falling to its lowest reading in seven months in November, according to a new survey released Thursday.
Econ Comments & Analysis
Forbes | Mortgage Interest Deduction Saves Middle Class Taxpayers All Of $51/Month
Middle-class homeowners saved an average of $615 on their taxes in 2012 thanks to the mortgage interest deduction. That’s actually down from an average savings of $989 in 2010. Whether this is a good or bad development, though, depends on who is defining the goals for the special housing tax benefit.
Washington Times | The lost generation
Will we force doctors to treat the millions of new Medicaid patients who are signing up for services that can be only partially reimbursed? How exactly will the Internal Revenue Service collect penalties from millions of off-the-books youth who choose not to buy coverage?
Mercatus | President Obama Faces a Bigger Ticking Time Bomb than the Affordable Care Act Itself
Most of the media’s energy and focus over the past few months has been on 2010’s Affordable Care Act and its problematic roll-out, with its ensuing intended and unintended consequences. Flawed analysis led to flawed legislation and flawed outcomes for the health care industry and millions of Americans.
Thursday, December 19, 2013
Health Care
News
National Journal | McCain Introduces Bill to Repeal and Replace Obamacare
John McCain introduced legislation Wednesday to repeal and replace the Affordable Care Act, citing an overdue responsibility of the Republican Party to present an alternative to the president's health law.
WSJ | More Turmoil in State Health Exchanges
The leader of Minnesota's health-insurance marketplace resigned after taking a two-week vacation in late November when the state's website was experiencing technical problems, making her the fourth state health-insurance chief to be ousted.
Econ Comments & Analysis
Forbes | Don't Believe The Pundits, Conservatives Are Bursting With Ideas To Replace Obamacare
Conservatives are being challenged to come up with their own alternative health policy plan to replace Obamacare as it becomes quite clear that government cannot centrally manage a vast part of the largest economy in the world. Democrats, the media, and many others are demanding that Republicans get behind their own “unified bill.”
WSJ | National Lampoon's ObamaCare Vacation
President Obama has responded to the ObamaCare debacle by bringing in Beltway liberal mastermind John Podesta as a senior West Wing hand, and he promptly announced his arrival by likening House Republicans to "a cult worthy of Jonestown" in an interview with Politico. The states running their own insurance exchanges are exacting more accountability for their ObamaCare failures.
AEI | OFA Obamacare ads attempt to cover up the law's failings
Every second spent discussing Pajama Boy and his hot chocolate is a second not spent discussing the Affordable Care Act. And that, of course, should be welcome news for Democrats across the country.
Heritage Foundation | Ten Broken Obamacare Promises
Since the passage of Obamacare in 2010, many of the President’s famous promises have been routinely broken. As he so ironically threatened in 2009, “If you misrepresent what’s in this plan, we will call you out.” To that end, here are 10 promises of Obamacare that have already proved to be broken.
National Journal | McCain Introduces Bill to Repeal and Replace Obamacare
John McCain introduced legislation Wednesday to repeal and replace the Affordable Care Act, citing an overdue responsibility of the Republican Party to present an alternative to the president's health law.
WSJ | More Turmoil in State Health Exchanges
The leader of Minnesota's health-insurance marketplace resigned after taking a two-week vacation in late November when the state's website was experiencing technical problems, making her the fourth state health-insurance chief to be ousted.
Econ Comments & Analysis
Forbes | Don't Believe The Pundits, Conservatives Are Bursting With Ideas To Replace Obamacare
Conservatives are being challenged to come up with their own alternative health policy plan to replace Obamacare as it becomes quite clear that government cannot centrally manage a vast part of the largest economy in the world. Democrats, the media, and many others are demanding that Republicans get behind their own “unified bill.”
WSJ | National Lampoon's ObamaCare Vacation
President Obama has responded to the ObamaCare debacle by bringing in Beltway liberal mastermind John Podesta as a senior West Wing hand, and he promptly announced his arrival by likening House Republicans to "a cult worthy of Jonestown" in an interview with Politico. The states running their own insurance exchanges are exacting more accountability for their ObamaCare failures.
AEI | OFA Obamacare ads attempt to cover up the law's failings
Every second spent discussing Pajama Boy and his hot chocolate is a second not spent discussing the Affordable Care Act. And that, of course, should be welcome news for Democrats across the country.
Heritage Foundation | Ten Broken Obamacare Promises
Since the passage of Obamacare in 2010, many of the President’s famous promises have been routinely broken. As he so ironically threatened in 2009, “If you misrepresent what’s in this plan, we will call you out.” To that end, here are 10 promises of Obamacare that have already proved to be broken.
Monetary
News
WSJ | Fed Dials Back Bond Buying, Keeps a Wary Eye on Growth
Ben Bernanke gave the U.S. economy a nod of approval just a month before he leaves the Federal Reserve, moving the central bank to begin winding down a bond-buying program meant to boost growth with the recovery on firmer footing.
Econ Comments & Analysis
Washington Post | The Fed’s case for tapering is a good sign for the economy
It's not always wise to judge economic events by Wall Street’s reaction. But there was a rational basis for the markets’ ecstatic response to Federal Reserve Chairman Ben S. Bernanke’s announcement Wednesday of a “taper” in central-bank asset purchases .
FOX Business | How the Fed's Taper Announcement Could Impact Your Finances
The Federal Reserve’s $10 billion taper announcement isn’t a significant cut in the central bank’s massive bond-purchasing plan, but experts say consumers could feel the impact.
Fortune | Why stocks soared on the taper
For more than a year, investors have been bracing for the beginning of the end of the Fed's stimulus program. So on Wednesday when the Fed finally announced it would pull back a little, how far did stocks fall?
Blogs
Library of Economics | Higher Is Not Down
Low inflation may present a conundrum, but "downward pressure on prices" doesn't present a conundrum because prices are rising. That's what inflation means. Sure, some prices have fallen, but others have risen more than enough to offset those falling prices.
Economist | QE, finitely
Just a few months ago it appeared Ben Bernanke would finish his eight-year term as chairman of the Federal Reserve without knowing whether his boldest and most controversial attempt to revive the economy was going to work.
WSJ | Fed Dials Back Bond Buying, Keeps a Wary Eye on Growth
Ben Bernanke gave the U.S. economy a nod of approval just a month before he leaves the Federal Reserve, moving the central bank to begin winding down a bond-buying program meant to boost growth with the recovery on firmer footing.
Econ Comments & Analysis
Washington Post | The Fed’s case for tapering is a good sign for the economy
It's not always wise to judge economic events by Wall Street’s reaction. But there was a rational basis for the markets’ ecstatic response to Federal Reserve Chairman Ben S. Bernanke’s announcement Wednesday of a “taper” in central-bank asset purchases .
FOX Business | How the Fed's Taper Announcement Could Impact Your Finances
The Federal Reserve’s $10 billion taper announcement isn’t a significant cut in the central bank’s massive bond-purchasing plan, but experts say consumers could feel the impact.
Fortune | Why stocks soared on the taper
For more than a year, investors have been bracing for the beginning of the end of the Fed's stimulus program. So on Wednesday when the Fed finally announced it would pull back a little, how far did stocks fall?
Blogs
Library of Economics | Higher Is Not Down
Low inflation may present a conundrum, but "downward pressure on prices" doesn't present a conundrum because prices are rising. That's what inflation means. Sure, some prices have fallen, but others have risen more than enough to offset those falling prices.
Economist | QE, finitely
Just a few months ago it appeared Ben Bernanke would finish his eight-year term as chairman of the Federal Reserve without knowing whether his boldest and most controversial attempt to revive the economy was going to work.
Taxes
Blogs
WSJ | Some IRS Vendors Have Big Tax Debts
Some vendors doing business with the Internal Revenue Service owe substantial tax debts, according to a new report.
WSJ | Some IRS Vendors Have Big Tax Debts
Some vendors doing business with the Internal Revenue Service owe substantial tax debts, according to a new report.
Employment
News
Politico | Federal job satisfaction at all-time low
Job satisfaction among federal government workers dropped to an all-time low in 2013, according to a new study out Wednesday ranking the best and worst places to work in the federal government.
Bloomberg | U.S. Jobless Claims Unexpectedly Rise on Holiday Distortions
Applications for U.S. unemployment benefits unexpectedly rose last week to an almost nine-month high, showing fluctuation in the filings that typically occurs around the year-end holidays.
Blogs
WSJ | Vital Signs: Jobless Claims Look Unreasonably Adjusted
Once again, forecasters missed the direction in jobless claims: filing for unemployment benefits unexpectedly rose 10,000 last week after jumping a surprisingly large 64,000 gain in the previous week.
Politico | Federal job satisfaction at all-time low
Job satisfaction among federal government workers dropped to an all-time low in 2013, according to a new study out Wednesday ranking the best and worst places to work in the federal government.
Bloomberg | U.S. Jobless Claims Unexpectedly Rise on Holiday Distortions
Applications for U.S. unemployment benefits unexpectedly rose last week to an almost nine-month high, showing fluctuation in the filings that typically occurs around the year-end holidays.
Blogs
WSJ | Vital Signs: Jobless Claims Look Unreasonably Adjusted
Once again, forecasters missed the direction in jobless claims: filing for unemployment benefits unexpectedly rose 10,000 last week after jumping a surprisingly large 64,000 gain in the previous week.
Budget
News
Politico | Senate passes budget deal
With little suspense but still a bit of drama, the Senate passed a bipartisan budget deal Wednesday that will help Washington return to some fiscal normalcy after years of gridlock.
CNN Money | What the next debt ceiling fight will look like
House Budget Chairman Paul Ryan and Senate Minority Leader Mitch McConnell said this week that Republicans will demand something in exchange for an increase in the debt ceiling early next year.
Econ Comments & Analysis
Washington Times | Republicans cave on budget and principle of cutting runaway spending
The conservative wing in Congress, backed by like-minded outside groups, hate to stand by while a federal budget is enacted that increases spending and adds to the $17 trillion debt dragging down our economy.
Politico | Senate passes budget deal
With little suspense but still a bit of drama, the Senate passed a bipartisan budget deal Wednesday that will help Washington return to some fiscal normalcy after years of gridlock.
CNN Money | What the next debt ceiling fight will look like
House Budget Chairman Paul Ryan and Senate Minority Leader Mitch McConnell said this week that Republicans will demand something in exchange for an increase in the debt ceiling early next year.
Econ Comments & Analysis
Washington Times | Republicans cave on budget and principle of cutting runaway spending
The conservative wing in Congress, backed by like-minded outside groups, hate to stand by while a federal budget is enacted that increases spending and adds to the $17 trillion debt dragging down our economy.
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