News
Politico | Tis the season for health and taxes
Government-funded health law “navigators” and advocacy groups helping people sign up are emphasizing the health benefits of getting covered, while tax preparation firms are hammering home the economic benefits.
CNN Money | Debit vs. credit cards: Which is safer to swipe?
While the tens of millions of Target shoppers who had their credit and debit card information stolen likely won't be on the hook for any fraudulent transactions that may occur, debit card users could face much bigger headaches than credit card users.
Fox Business | Pension Woes Have Cities, States Eyeing 401(k) Style Plans
Recent studies by the Pew Charitable Trust revealed that the 61 largest U.S. cities were a combined $217 billion short on their pension obligations and the 50 U.S. states were a combined $1.3 trillion short on pension promises made to state employees.
CNN Money | Wow! U.S. economy revved up
Gross domestic product -- the broadest measure of economic activity -- grew at a 4.1% annual pace in the third quarter, up from the 2.8% pace that was first reported in November.
Bloomberg | Bankers Become Realists as Recovery Leaves Them Sidelined
Throughout the current slump in takeovers, mergers and acquisitions advisers have said a recovery was around the corner, awaiting a stronger U.S. economy, rising stock markets or an end to the European debt crisis.
WSJ | Fed's Mortgage Role Expands
Central Bank's Asset Purchases Are Bigger Share of Market as It Begins to Taper.
Econ Comments & Analysis
TIME | Why Mortgages Will Soon Be More Expensive
Homebuyers are in a sudden headwind of rising home prices, mortgage rates and lending limits.
Washington Times | TRIPLETT: Shale revolution reality checks
In fact, this year, the IEA has predicted that the United States would take the lead in 2015, not 2020.
AEI | The Volcker rule won't reduce risk
After three years of regulatory wrangling, the Volcker Rule is finally out. The rule sharply curtails the types of trading activities that banks whose deposits are insured by the government can engage in. Volcker Rule supporters argue that it will make the financial sector a safer place. Don't bet on it.
Blogs
WSJ: Real Time Economics | Vital Signs: Businesses Brace for Benefits Bump
While the surveys focus on manufacturing, the healthcare challenge probably extends to all types of business, and has implications for future consumer spending. Paying more for health insurance means businesses have less for pay raises that would support more household shopping.
The Economist | The backlash against the BRICs backlash
Growth in the biggest emerging economies has disappointed the high expectations generated by their swift rebound from the 2008 financial crisis.
WSJ: Real Time Economics | Economists React: Third-Quarter GDP ‘Downright Impressive’
U.S. GDP rose a revised 4.1% in the third quarter of the year, the strongest annualized rate of growth since the end of 2011.
Friday, December 20, 2013
Health Care
News
National Journal | Obama Administration to Delay Individual Mandate for Some
Those with canceled policies will be exempt from Obamacare’s penalty for not buying insurance.
Blogs
Heritage Foundation | Obamacare Was Supposed to Help the Uninsured. So Why Don't They Like It?
More uninsured Americans (37 percent) believe Obamacare will hurt them—citing increased costs as a major reason—than uninsured Americans who believe the law will help them (33 percent).
Heritage Foundation | It's Official—HHS Says Obamacare Is a Hardship
Thus, the Health and Human Services (HHS) Secretary is now exercising her authority to grant a “hardship” exemption to the individual mandate to purchase health insurance.
National Journal | Obama Administration to Delay Individual Mandate for Some
Those with canceled policies will be exempt from Obamacare’s penalty for not buying insurance.
Blogs
Heritage Foundation | Obamacare Was Supposed to Help the Uninsured. So Why Don't They Like It?
More uninsured Americans (37 percent) believe Obamacare will hurt them—citing increased costs as a major reason—than uninsured Americans who believe the law will help them (33 percent).
Heritage Foundation | It's Official—HHS Says Obamacare Is a Hardship
Thus, the Health and Human Services (HHS) Secretary is now exercising her authority to grant a “hardship” exemption to the individual mandate to purchase health insurance.
Monetary
News
Bloomberg | Fed Seen Tapering QE in $10B Steps in Next Seven Meetings
If we’re making progress in terms of inflation and continued job gains, then I imagine we’ll continue to do, probably at each meeting, a measured reduction in purchases, Bernanke said
CNN Money | Fed's assets top $4 trillion
To be more exact, the Fed's assets now total $4,008,062,000,000 -- a new record high, according to a weekly report released by the central bank on Thursday afternoon. And it's going to keep climbing.
Bloomberg | Fed Seen Tapering QE in $10B Steps in Next Seven Meetings
If we’re making progress in terms of inflation and continued job gains, then I imagine we’ll continue to do, probably at each meeting, a measured reduction in purchases, Bernanke said
CNN Money | Fed's assets top $4 trillion
To be more exact, the Fed's assets now total $4,008,062,000,000 -- a new record high, according to a weekly report released by the central bank on Thursday afternoon. And it's going to keep climbing.
Taxes
Econ Comments & Analysis
Forbes | Romney Was Wrong About The 47 Percent, The Problem Is Much Worse
This suggests that in actuality around 70 percent of American families are receiving more from the government than they are paying in.
CRS | Energy Tax Policy: Issues in the 113th Congress
Energy tax policy may also be considered as part of comprehensive tax reform legislation in the 113th Congress. A base-broadening approach to tax reform might consider the elimination of various energy tax expenditures in conjunction with a reduction in overall tax rates.
Heritage Foundation | Business Tax Reform: Focus on Rate Reduction Now, Save Expensing for Later
Business tax reform is essential to increasing investment and restoring robust job creation and wage growth. Reform is necessary in large part because the U.S. has the highest corporate tax rate in the developed world.
Forbes | Romney Was Wrong About The 47 Percent, The Problem Is Much Worse
This suggests that in actuality around 70 percent of American families are receiving more from the government than they are paying in.
CRS | Energy Tax Policy: Issues in the 113th Congress
Energy tax policy may also be considered as part of comprehensive tax reform legislation in the 113th Congress. A base-broadening approach to tax reform might consider the elimination of various energy tax expenditures in conjunction with a reduction in overall tax rates.
Heritage Foundation | Business Tax Reform: Focus on Rate Reduction Now, Save Expensing for Later
Business tax reform is essential to increasing investment and restoring robust job creation and wage growth. Reform is necessary in large part because the U.S. has the highest corporate tax rate in the developed world.
Employment
Econ Comments & Analysis
Bloomberg | More Jobs Are the Antidote to Inequality
There are two different trends visible in data on income inequality: the stagnating -- at times, declining -- wages of working-class families on one hand, and the awesome spike in the incomes of the top 1 percent on the other.
MarketWatch | The real cost of raising the minimum wage
More low-skill Americans would be out of work. People would buy less of the higher-priced services. Supersizing a wage is not as simple as supersizing a hamburger.
Blogs
WSJ: Real Time Economics | Without Unemployment Extension, Which States Would Be Hit Hardest?
About 1.37 million people nationwide received emergency unemployment compensation at the end of November. That program, which provides an average of $300 a week in benefits to unemployed people once they exhaust their state benefits, is set to expire Dec. 28.
Bloomberg | More Jobs Are the Antidote to Inequality
There are two different trends visible in data on income inequality: the stagnating -- at times, declining -- wages of working-class families on one hand, and the awesome spike in the incomes of the top 1 percent on the other.
MarketWatch | The real cost of raising the minimum wage
More low-skill Americans would be out of work. People would buy less of the higher-priced services. Supersizing a wage is not as simple as supersizing a hamburger.
Blogs
WSJ: Real Time Economics | Without Unemployment Extension, Which States Would Be Hit Hardest?
About 1.37 million people nationwide received emergency unemployment compensation at the end of November. That program, which provides an average of $300 a week in benefits to unemployed people once they exhaust their state benefits, is set to expire Dec. 28.
Budget
News
CNN Money | Most bizarro budget moves Congress made in 2013
Sure, Congress cut a small budget deal in 2013. But that minor victory can't compensate for many of the nutty things lawmakers did on the fiscal front this year.
Econ Comments & Analysis
Washington Times | EDITORIAL: Doc Coburn’s government diet
Oklahoma senator prescribes $30 billion in federal restraint.
CNN Money | Most bizarro budget moves Congress made in 2013
Sure, Congress cut a small budget deal in 2013. But that minor victory can't compensate for many of the nutty things lawmakers did on the fiscal front this year.
Econ Comments & Analysis
Washington Times | EDITORIAL: Doc Coburn’s government diet
Oklahoma senator prescribes $30 billion in federal restraint.
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