Econ Comments & Analysis
WSJ | Saving Taxpayers From Money Funds
Since 2008 politicians have put taxpayers on the hook for guaranteeing losses in ever more of the financial system. So behold Wednesday's little miracle, in which the Securities and Exchange Commission began shrinking the implied taxpayer safety net around money-market mutual funds.
National Journal | Do You Have Emergency Savings to Get You Through a Crisis?
The stock market is booming, but $57 billion disappeared from 401(k) accounts in 2011. Why? Without emergency savings, millions of Americans who found themselves out of work, on the verge of losing their homes, or facing other financial emergencies were forced to raid their retirement accounts. In addition to incurring the standard penalties and taxes required when a worker does so, these individuals damaged their long-term economic prospects.
Mercatus | Constitutional Solutions to our Escalating National Debt: Examining Balanced Budget Amendments
Chairman Goodlatte, Ranking Member Conyers, and members of the committee: Thank you for inviting me here today to discuss the need for a constitutional amendment to help achieve credible and sustainable fiscal reform.
CATO | D.C. Forgets about the Debt
Although it is expected to top $17.6 trillion by August 1, the national debt has dropped out of the headlines recently. Out of sight may indeed mean out of mind, especially in Washington, but that hardly means the problem has gone away — as a new report from the Congressional Budget Office makes clear.
