General Economics

News                                                                                                                             

Politico | GOP divided over oil export ban
Republicans may be the party of free markets and “drill, baby, drill,” but the party’s presidential hopefuls and congressional leaders are seriously divided on whether the U.S. should start exporting its gusher of domestic oil.
Bloomberg | Pending Sales of U.S. Existing Homes Fell 1% in August
Contracts to purchase previously owned homes declined in August as tighter credit and limited wage growth weigh on potential buyers. The pending home sales index dropped 1 percent after a 3.2 percent increase in July, the National Association of Realtors said today in Washington.
Bloomberg | Euro-Area Economic Confidence Falls in Sign ECB Plan Takes Time
An index of executive and consumer sentiment slipped to 99.9 in September from 100.6 a month earlier, the European Commission in Brussels said today. That’s the lowest since November and in line with the median of 25 forecasts in a Bloomberg News survey.

Econ Comments & Analysis                                                                                            
WSJ | Capital Markets Ride to the Third World Rescue
From capital markets comes commerce, and from commerce the ability to trump conflict and drive macroeconomic viability for the long term.
Washington Times | An opportunity to rein in the EPA
In the absence of action by Congress, the Environmental Protection Agency (EPA) has taken dramatic and unprecedented steps to craft energy policy in this country by issuing new regulations regarding carbon-dioxide emissions.
Real Clear Markets | Inequality Worriers Aren't Entitled To Their Own Facts
Inequality is a problem that can be solved in two ways: punishing the successful or aiding the unfortunate. Liberals need to realize that the first is at best a temporary measure and one that makes us worse off as a nation. Let's be smarter about this and find policies that help all Americans to thrive and move forward together.
Bloomberg | U.S. Still the Dog Wagging Tail of World Economy as China Slows
As U.S. growth accelerated in the second quarter to the fastest rate since 2011, China’s economy waned, with manufacturing and lending data pointing to a weakening in activity. A resurgent U.S. and retreating China is the reversal of a trend that dominated in the wake of the financial crisis.
The Daily Signal | The Real Story About What Ended the Great Depression
The cruel irony of the New Deal is that the liberals’ honorable intentions to help the poor and the unemployed caused more human suffering than any other set of ideas in the past century.

Health Care

News                                                                                                                             
CNN Money | Hospitals ask patients to pay upfront
Hospitals are increasingly asking patients to pay for procedures either upfront or before they are discharged. That's because Americans are shouldering a greater portion of their health care bills, and medical centers don't want to get stuck with patients that can't pay.
NY Times | For Many New Medicaid Enrollees, Care Is Hard to Find, Report Says
Enrollment in Medicaid is surging as a result of the Affordable Care Act, but the Obama administration and state officials have done little to ensure that new beneficiaries have access to doctors after they get their Medicaid cards, federal investigators say in a new report.

Monetary

News                                                                                                                             
CNN Money | Elizabeth Warren wants to probe if Fed is too close to big banks
Sen. Elizabeth Warren wants Congress to look into allegations the New York Federal Reserve blocked one of its own from criticizing Goldman Sachs.
Bloomberg | Yellen Takes the Good Greenspan, Leaves the Bad
The Federal Reserve chair and her colleagues signaled this month they would be willing to push unemployment below its so-called natural rate -- a feat Greenspan as chairman managed in the late 1990s without fanning much inflation.

Econ Comments & Analysis                                                                                            
WSJ | When Central Bankers Become Central Planners
Macroprudential regulation is not likely to prevent asset bubbles. But credit allocation will depress growth.
Market Watch | Fed's Evans sees 'quite some time' before first rate hike
The Fed will likely need to keep interest rates low beyond next summer until it is sure the economy could sustain momentum with less support, said Charles Evans, the president of the Chicago Fed, on Monday.


Blogs                                                                                                                             
WSJ: Real Time Economics | Key Inflation Reading Slips Further Below Fed’s 2% Target
The price index for personal consumption expenditures—the Fed’s preferred inflation measure—advanced just 1.5% in August from a year earlier, the Commerce Department said Monday. August was the 28th straight month the inflation reading undershot the Fed target.

Taxes

News                                                                                                                             
Politico | Republicans shift away from tax cutting mania
Though still low by historical standards, that’s the highest since the Reagan administration. Republicans once argued that allowing the increase would wreak havoc on the economy, but lawmakers say their constituents are now more focused on issues like the battle against Islamic militants in Syria.
WSJ | Fed Questions Bank Maneuver to Reduce Hedge Funds' Dividend Taxes
Large banks generate more than $1 billion a year in revenue by helping hedge funds and other clients reduce taxes through a complicated trading strategy that has drawn criticism from U.S. authorities.

Blogs                                                                                                                             
WSJ: Real Time Economics | One Good Sign the Economy Is Staying Strong: Your Payroll Tax Withholdings
One gauge of economic activity goes all the way through this week: payroll tax withholdings. Every day the U.S. Treasury reports the amount of revenue received from withholdings. This creates a handy, real-time gauge of the economy because the tax payment is typically collected from each paycheck. When people get raises, payroll-tax revenue rises the moment an increase goes into effect.

Employment

Econ Comments & Analysis                                                                                            
Market Watch | Big rebound seen for U.S. jobs growth
Don’t worry, most economists say. They expect the U.S. to bounce back in September with a 200,000- plus net gain in jobs. And they predict the disappointing 142,000 preliminary increase in August will be revised markedly higher.

Budget

News                                                                                                                             
Politico | AIG still battling over 2008 bailout
While AIG has quietly accepted its designation as being a a “systemically important financial institution,” which means it is now regulated by the Fed, Prudential and MetLife have both grumbled about being so designated, arguing their business model poses no threat to the broader system and economy.
CNN Money | $4.35 to get your own money - ATM fees surge again
It's more expensive than ever to get your hands on your own money. A customer is slapped with fees when they use an ATM that's not owned by their bank, and those fees jumped 5% in the past year, according to Bankrate.
Bloomberg | Consumer Spending Climbs as U.S. Job Gains Boost Wages: Economy
Consumer spending rebounded in August as employment gains revived household earnings growth and encouraged Americans to return to shops and car dealerships.

General Economics

News                                                                                                                             
National Journal | Inside Big Oil's Fight Over Arctic Drilling Rules
Oil giants Royal Dutch Shell and ConocoPhillips are pressing White House officials on upcoming standards for drilling operations in Arctic seas.
Market Watch | Over 900,000 homes regain equity in second quarter
U.S. homeowners’ negative equity tumbled last quarter, with the second greatest drop in underwater properties since data tracking started, according to a Thursday release.
National Journal | Even as Sun Belt Cities Grow, Many Are Left Behind
Fueled by the energy boom, this sprawling and steamy city has added significantly more jobs since 2000 than any other U.S. metropolitan area.
Bloomberg | Consumer Comfort in U.S. Falls to Lowest Since Early June
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Market Watch | Look past 18% tumble — durable-goods data was solid
Orders for durable U.S. goods plunged by a record 18.2% in August after a record 22.5% gain in July, mainly because of up-and-down demand for large and expensive commercial airplanes, government data showed Thursday.

Econ Comments & Analysis                                                                                            
Real Clear Markets | Why the CEO Earns Much More Than You Do
The timing was interesting for a number of reasons, but in retrospect a major reason was that the economic dip of 2008 hadn't yet revealed itself.
Real Clear Markets | California's Economic Recovery That Wasn't
California's Employment Development Department announced that the state added 44,200 jobs in August. This news was trumpeted by Sacramento as further evidence of California's comeback.
Market Watch | Surprise! Businesses actually are investing a lot
The yawning gap between the U.S. bull market in stocks and the historically weak economic recovery seems proof positive that something is fundamentally wrong with American business’ priorities – and especially its lack of interest in creating and productively investing capital.

Blogs                                                                                                                             
Cato Institute | Financial Crisis Lessons From Experimental Economics
Economic scholarship tends to operate in silos. That is, banking scholars don’t talk to macroeconomists, etc.

Health Care

Econ Comments & Analysis                                                                                            
Cato Institute | Economists’ Arguments against Obamacare Lawsuits Backfire
Three years ago, we blew the whistle on the government behavior now being challenged in multiple Obamacare lawsuits.

Monetary

News                                                                                                                             
Bloomberg | Fed Trio Urges Patience on Rates Amid Cooling Inflation
Three Federal Reserve presidents are calling for patience as the central bank weighs when to raise interest rates above zero, arguing moving prematurely poses a greater risk to the economy than waiting too long.

Econ Comments & Analysis                                                                                            
Market Watch | Here’s what will happen to stocks before and after rates rise
Last week the Federal Open Market Committee surprised a lot of pundits by doing what it has said it would do.
Bloomberg | Banks Face Stable Funding Rule After Basel Strikes Accord
Global regulators have reached a deal on a rule requiring banks to use funding sources that won’t dry up in a crisis.

Blogs                                                                                                                             
Wall Street Journal | Fed Economist Calls for ‘Urgency’ in Addressing Unemployment
The U.S. job market remains far from full health despite recent progress, and requires active efforts by policy makers to help it heal, a Federal Reserve economist said Wednesday.

Taxes

Econ Comments & Analysis                                                                                            
AEI | State taxation of interstate commerce and income flows: The economics of neutrality
Although the U.S. Supreme Court has long held that the Commerce Clause of the U.S. Constitution prohibits state taxes that discriminate against interstate commerce, it has failed to provide a clear explanation of which taxes are discriminatory.

Employment

News                                                                                                                             
Bloomberg | Jobless Claims in U.S. Climbed Less Than Forecast Last Week
Applications for unemployment benefits in the U.S. increased less than forecast last week as an improving economy prompted employers to retain staff.
Market Watch | Los Angeles approves raising minimum wage for large-hotel workers
The city council here has approved one of the nation’s highest minimum wages for workers at the city’s large hotels.

Econ Comments & Analysis                                                                                            
Real Clear | http://www.realclear.com/markets/2014/09/24/bass_unemployment_rate_rigged_closer_to_11_8901.html
America's unemployment rate as measured by the Labor Department vastly underrepresents the number of Americans actually out of work, hedge fund manager Kyle Bass told CNBC.

Budget

Econ Comments & Analysis                                                                                            
Wall Street Journal | Surge in Student Debt Forgiveness
Last week we told you about the $20 billion annual rise in Department of Education outlays, due to an increase in student-loan borrowers using income-based repayment programs.
The Washington Times | The two views of government: Raising taxes or cutting spending
The final days of September are a time of last-minute budget wrangling in towns across America.

Blogs                                                                                                                             
Wall Street Journal | Student Loan Defaults Vary Wildly by State
Across the U.S., the share of Americans defaulting on their student loans shortly after leaving school fell in the past year. But the performance of borrowers varied greatly among the states

General Economics

News                                                                                                                             
Fox Business | New Home Sales Jump 18% in August
Sales of new U.S. single-family homes surged in August and hit their highest level in more than six years, offering confirmation that the housing recovery remains on course.
Fox Business | World Bank Slashes Forecast for Russian Economy
The World Bank on Wednesday slashed its forecast for Russia's economy over the next two years, saying growth would stagnate amid a lack of structural reforms and Western sanctions over Russia's role in the Ukraine conflict.
Market Watch | Comcast, Time Warner Cable say merger wouldn’t reduce choice
Comcast Corp. and Time Warner Cable Inc. fired back at critics of their $45 billion proposed merger, defending the transaction against concerns it would make Comcast the gatekeeper of the online and pay TV world.
AEI | There is no rational basis for MetLife's SIFI designation
Earlier this month, the Financial Stability Oversight Council (FSOC) preliminarily designated MetLife as a systemically important financial institution, or SIFI.

Econ Comments & Analysis                                                                                            
Forbes | The Obama-Reagan Comparison Does O. No Favors
With the stock market cruising at all-time highs and the unemployment rate sitting at quaint levels, a fashionable new argument is making the rounds. Barack Obama is better at economic recovery than Ronald Reagan ever was.
Wall Street Journal | Alaska's Lessons for the Keystone XL Pipeline
Earlier this year the Obama administration again delayed a decision about the Keystone XL pipeline.
The Washington Times | Overcoming hardship to survive and thrive
We have heard much about the tragic events in Ferguson, MO, during which a young man lost his life, a community became enraged, and many differing definitions of justice emerged.

Blogs                                                                                                                             
Wall Street Journal | More Americans Forgo Marriage as Economic Difficulties Hit Home
As long-term financial security becomes a pipe dream for more Americans, a growing share is giving up on marriage.
Wall Street Journal | Low-Income Home Buyers Left Behind
The home-buying market picked up sharply in 2013, but it looks as if much of the pickup came from those with the highest incomes.

Health Care

News                                                                                                                             
Politico | Insurers’ bigger role suggests confidence in Obamacare
The insurance industry believes Obamacare is here to stay no matter who wins control of the Senate this fall.
The Daily Signal | Family of 6 Says They’ll Go Uninsured Before Paying Obamacare’s ‘Abortion Fee’
Barth Bracy has devoted his life to his Catholic faith. He spent 15 years in the Philippines as a missionary, where he met his wife, Abbie.

Monetary

News                                                                                                                             
National Journal | Federal Regulators Force Shutdown of Fake Bitcoin-Mining Operation
A federal court has forced a Kansas-based company to cease selling computers that were marketed as able to produce bitcoin on grounds the company failed to deliver its technology in a timely or effective manner—costing consumers tens of millions of dollars.
Fox Business | Inflation Watch as Fed Hawks Retire
What is the prognosis for inflation, now that two hawks at the Federal Reserve are about to step down?
Bloomberg | Draghi Says Euro Level Reflects Monetary-Policy Paths
The euro’s depreciation is in line with the divergence of monetary policies around the world, European Central Bank President Mario Draghi said.

Econ Comments & Analysis                                                                                            
Mercatus Center | Measuring the Dodd-Frank Act (and Other Major Acts) with RegData 2.0
RegData 2.0 can be used to examine how agencies’ regulatory stocks respond to major acts of Congress.

Blogs                                                                                                                             
Wall Street Journal | Fed’s Bullard Still Looks to 1st Quarter 2015 Fed Rate Increase
Federal Reserve Bank of St. Louis President James Bullard said Tuesday that he still sees the U.S. central bank raising interest rates some time early next year.

Taxes

Econ Comments & Analysis                                                                                            
CNN Money | Crazy corporate tax loopholes? 'Inversions' are small potatoes
Few argue that the loopholes that encourage such tax-driven mergers with foreign companies are fine and dandy. In fact, many lawmakers and tax experts wouldn't mind seeing them closed.

Blogs                                                                                                                             
Reuters | Just why does the NFL have tax-exempt status?
In the wake of the fallout over National Football League Commissioner Roger Goodell’s handling of his players’ domestic violence arrests, there have been multiple reports by journalists, who read the league’s filing of form 990 with the Internal Revenue Service, that Goodell was paid $44 million in the fiscal year ending March 31, 2013.
Market Watch | Bill Clinton says corporate tax system needs reform
Former President Bill Clinton on Tuesday said the corporate tax system was in need in reform — even as he acknowledged he was the one who signed the law that brought the tax rate to 35%.

Employment

News                                                                                                                             
Wall Street Journal | Limited English Limits Job Prospects
Almost one in 10 adults of working age in the U.S. has limited proficiency in English, more than 2.5 times as many as in 1980, curbing their job prospects and ability to contribute to the economy.

Blogs                                                                                                                             
Wall Street Journal | One in Five U.S. Workers Laid Off in Last Five Years, Report Says
One in five U.S. workers, nearly 30 million people, say they were laid off from their jobs in the last five years, according to a new survey that highlights lasting scars from the spike in U.S. long-term unemployment following the last recession.

Budget

News                                                                                                                             
Wall Street Journal | Defaults on Federal Student Loans Decline
The share of borrowers defaulting on federal student loans shortly after leaving school has declined, as the economy improves and legions of borrowers enroll in federal programs that lower their monthly payments.

Econ Comments & Analysis                                                                                            
CATO Institute | Zombie Spending
Aficionados of horror movies know that the monster is never really dead when you think it is.

General Economics

News                                                                                                                             
Market Watch | Home prices rise 0.1% in July: FHFA
Home prices rose a seasonally adjusted 0.1% in July, slower than a 0.3% gain in June, according to data released Tuesday.
CNN Money | Is the economic recovery real? 3 stats to watch
There is so much data on the economy now, it is hard to figure out what is most important.
Market Watch | U.S. Markit flash PMI flat at 57.9 in September
The "flash" reading of U.S. manufacturing conditions was unchanged in September at 57.9, keeping the indext at a 52-month high, the privately run firm Markit said Tuesday.
Wall Street Journal | Obama Takes U.N. Rostrum to Back World Emissions Cuts
President Barack Obama will use a speech at the United Nations on Tuesday to argue that the U.S. is ready to lead in a new set of global climate-change negotiations, despite uncertain commitment to emissions cuts from U.S. and other countries and political disagreement at home.

Econ Comments & Analysis                                                                                            
The Washington Times | The long-run solution to an economic mess
Yes, the world is a mess - but there is a long-run solution.

Blogs                                                                                                                             
Wall Street Journal | Hispanics Were the Only Major Group to See Poverty Drop Last Year
Last week’s news that the official U.S. poverty rate fell for the first time in seven years to 14.5% from 15% was greeted lukewarmly—and for good reason.

Health Care

News                                                                                                                             
The Daily Signal | Why You Can’t Keep Your Plan Under Obamacare, Explained in 3 Minutes
In 2009, President Obama repeatedly told the American people, “If you like the plan your health care plan, you’ll be able to keep your health care plan, period.”

Econ Comments & Analysis                                                                                            
NBER | Controlling Health Care Costs Through Limited Network Insurance Plans: Evidence from Massachusetts State Employees
Recent years have seen enormous growth in limited network plans that restrict patient choice of provider, particularly through state exchanges under the ACA.

Monetary

News                                                                                                                             
Fox Business | Fed's George: Small Banks Ensnared in Regulation
Federal Reserve Bank of Kansas City President Esther George said Tuesday small banks around the nation are being hurt by rulemaking aimed at too-big-to-fail financial institutions.
Bloomberg | Kocherlakota Says Fed Should Give Timetable on 2% Inflation Goal
Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said policy makers should improve communications by saying how long they expect it will take for price increases to reach their target level.

Econ Comments & Analysis                                                                                            
Wall Street Journal | Behind the Fed's Dovish Turn on Rates
The battle at the Federal Open Market Committee is now on. Score the previous meeting in late July for the inflation hawks, but last week's meeting went for the doves, who are more worried about jobs.

Taxes

Econ Comments & Analysis                                                                                            
The Washington Times | EDITORIAL: Pink slips for the death tax
New Jersey is bleeding jobs.
Wall Street Journal | A Pro-Family, Pro-Growth Tax Reform
Too many Americans believe the American dream is slipping away for them and their children. They see their cost of living rise while their paychecks remain stagnant.
Market Watch | Treasury unveils measures to combat tax inversions
The Obama administration went on a regulatory offensive against U.S. companies that move to lower-tax countries, issuing new rules that take away major benefits of the deals.

Employment

News                                                                                                                             
CNN Money | 1 in 5 laid-off workers can't find a job
More than 20% of workers laid off in the last five years haven't found new jobs, according to a Rutgers University survey released Monday.
CNBC | Study: Recovery eludes long-term unemployed
More than 20% of Americans laid off the past five years are still unemployed and one in four who found work is in a temporary job, according to a survey out Monday.

Budget

News                                                                                                                             
Real Clear Markets | The Myth That Record American Wealth Explodes
Although any governmental report that presumes to put a number on total American wealth is bound to be riddled with inaccuracies, a Federal Reserve study last week revealed that American household wealth had risen to a record high of $81.5 trillion.

General Economics

News                                                                                                                             
Fox Business | Existing Homes Sales Fall 1.8% in August
Fewer Americans bought homes in August, as investors retreated from real estate and first-time buyers remained scarce.
CNN Money | Gen Xers are poorer than their parents
The typical Gen Xer has only $29,100 in wealth, compared to the $65,200 that their parents had socked away at the same age, according to a new report from the Pew Economic Mobility Project. Wealth includes savings, retirement funds, homes and other investments.
CNN Money | For rich people, mortgages are getting cheaper and easier
Not only are big-pocketed borrowers paying lower average rates on the high dollar value loans known as jumbo mortgages, but lenders are now requiring even smaller down payments -- and, in some cases, they are waiving the mortgage insurance, too.
Bloomberg | Apple Sells Record 10 Million IPhones in Debut Weekend
Apple Inc. (AAPL) sold a record of more than 10 million iPhones the first weekend two new versions hit stores, helping Chief Executive Officer Tim Cook in a push to narrow Samsung Electronics Co.’s lead in bigger-screen smartphones.
Market Watch | National activity index turns negative in August, Chicago Fed says
U.S. economic activity was below-trend in August, according to data released Monday.

Econ Comments & Analysis                                                                                            
Wall Street Journal | The West's Bruised Confidence in Capitalism
Across the six Septembers since the global financial meltdown, the corporate world has faced intense questions about major challenges, not least about how to sustain growth during an imperfect recovery.
The Washington Times | The War on Poverty: 50 years of failure
This year marks the 50th anniversary of President Lyndon Johnson's launch of the War on Poverty.
Washington Post | The next (nasty) economic surprise?
We live in the shadow of “secular stagnation,” to use a phrase now fashionable among economists.

Blogs                                                                                                                             
Wall Street Journal | Rate of Americans Starting Own Households ‘Disturbingly Slow’
New data show that household formation slowed considerably last year, a potentially ominous sign for the housing market.
Café Hayek | More on Competition and Monopoly
The fact that almost no actual competition takes place in perfectly competitive markets doesn’t stop people, most of whom are unfamiliar with the theory, from supposing that what economists (the experts!) call “perfect competition”
Wall Street Journal | Cash Home Sales, While High, Are Falling
The share of homes being purchased without a mortgage remains high, historically speaking, but it is beginning to edge down.
Wall Street Journal | Student Debt Could Reduce Home Sales 8% This Year, Report Says
Higher levels of student debt will reduce U.S. home sales by around 8% this year, according to a report released Friday by John Burns Real Estate Consulting, an advisory firm.

Health Care

News                                                                                                                             
National Journal | 7.3 Million People Have Obamacare Coverage
Roughly 7.3 million people are currently enrolled in private insurance through Obamacare, a top health official said Thursday.

Econ Comments & Analysis                                                                                            
The Washington Times | EDITORIAL: Medical privacy lacking in age of Obamacare
Obamacare requires every visit to a doctor, every diagnosis, every X-ray and every prescription to be recorded and kept electronically.

Monetary

News                                                                                                                             
Fox Business | Philly Fed Chief Plosser to Retire in March 2015
Philadelphia Federal Reserve President Charles Plosser said Monday he will retire from his post on March 1, 2015.
Bloomberg | Draghi Says ECB Actively Managing Balance Sheet
The European Central Bank will actively manage its balance sheet and is willing to implement more stimulus if required to stave off the threat of deflation in the euro area, ECB President Mario Draghi said.
Wall Street Journal | Easy to Lose and Expensive to Produce: Is the Penny Worth It?
Americans place little value on the penny, and it's costing us millions each year.

Econ Comments & Analysis                                                                                            
Real Clear Marketes | The ECB's Failed Quantitative Easing Attempt Shows Its Irrelevance
The European Central Bank (ECB) believes that Europe's economy would improve if there were just more money floating around Europe, especially in the form of bank loans made to companies.
Daily Caller | The Return Of King Dollar
Maybe the U.S. economy, a weakling for the last six years, is finally starting to flex some muscle. We’re referring to the return of King Dollar.
Market Watch | Dudley: Fed keeping eye on U.S. dollar rally
The Federal Reserve doesn't target the value of the U.S. dollar but is paying attention to the currency's rally, New York Federal Reserve Bank President William Dudley said Monday.

Taxes

Econ Comments & Analysis                                                                                            
Wall Street Journal | The Move-to-Ireland Tax Reform
The Organization for Economic Cooperation and Development last week released its latest proposals to combat "base erosion and profit shifting," or the monster known as BEPS.

Blogs                                                                                                                             
CATO Institute | Bipartisan Agreement against the Taxpayers
The Washington Post reports on strong disagreements in consecutive appearances by Virginia Senate candidates Mark Warner and Ed Gillespie.

Employment

News                                                                                                                             
Fox News | Unemployment rates rise in nearly half of US states in August, though two-thirds gain jobs
Unemployment rates rose in nearly half of U.S. states in August, even as employers in two-thirds of the states added jobs.

Blogs                                                                                                                             
Wall Street Journal | This State Had Just 2.8% Unemployment In August. Here’s How All 50 States Fared.
The unemployment rate has fallen sharply across the U.S. over the year, but some states performed far better than others.

Budget

News                                                                                                                             
Wall Street Journal | U.S. Household Wealth Hits Fresh Record
Americans' combined wealth posted a new high in the second quarter, allowing consumers to ramp up borrowing—a development that could put the economy into a higher gear.

Econ Comments & Analysis                                                                                            
Wall Street Journal | Should Mortgage Lending Standards Ease?
Easy lending standards have helped set postrecession records for new-car sales. New-home building is barely rising, due in part to much tighter standards among mortgage lenders.
The Daily Signal | 51 Cents of Every Dollar: How Much Americans Think the Government Wastes
Americans estimate that Washington wastes 51 cents of every dollar it spends, according to a Gallup poll released last week.
AEI | Cutting fat from the budget
Over my lifetime, the advice of nutritionists has varied greatly. For a while, I was supposed to shun butter and replace it with margarine; then it was the reverse.

Blogs                                                                                                                             
Wall Street Journal | Debt Growth Can’t Keep Pace with GDP, But Net Worth Can
Households in the U.S. borrowed more on credit cards, cars and their educations in the second quarter and their collective net worth climbed to a new record, according to a new Federal Reserve report.

General Economics

News                                                                                                                             
Bloomberg | Biggest Economies Plan to Keep G-20 Growth Pledge, Official Says
The Group of 20 economies meeting this week in Cairns, Australia, have kept a target to boost gross domestic product by 2 percent over five years in a draft of the meeting’s communique, even as the global outlook dims, an official said.
Fox News | Yellen says many US families highly vulnerable to financial setbacks because of low savings
The Great Recession showed that a large number of American families are "extraordinarily vulnerable" to financial setbacks because they have few assets to fall back on, Federal Reserve Chair Janet Yellen said Thursday
Bloomberg | Slump in U.S. Housing Starts Led by Multifamily Units: Economy
Housing starts slumped in August from the highest level in almost seven years, reflecting a setback in multifamily projects that are at the forefront of the rebound in U.S. real estate.
Market Watch | Yellen says poor Americans live in ‘sobering’ conditions
The condition of lower-income families in America is “sobering” even as the economy recovers, Federal Reserve Chairwoman Janet Yellen said Thursday.

Econ Comments & Analysis                                                                                            
CNN Money | Millennials are staying put at mom and dad's place
Remember all of those Millennials living in their parent's basements because they couldn't find a job or afford a place of their own?
Fox Business | Gas Prices Sinking, Airline Tickets Next?
Well here’s some good news for consumers, the price you pay at the pump is on a rapid decline, and the price of your airline ticket might be next.
Investors.com | Obama's Subpar Recovery Gets A "B-Minus" Grade
The Census Bureau has just released its 2013 edition of "Income and Poverty in the United States," sometimes called the nation's "economic report card."
AEI | US housing finance in 100-year perspective
In the housing boom which went along with the general boom of the 1920s, the remarkable “Coolidge Prosperity,” the number of U.S. savings and loans grew to over 12,000.

Blogs                                                                                                                             
Wall Street Journal | Rent Boom: Apartment Construction Hits Highest Level Since 1989
Housing construction dipped in August, driven by a 32% drop from July in the notoriously volatile multifamily sector.
Wall Street Journal | The Biggest Economic—and Political—Puzzle: Persistently Flat Wages
It is in many ways both the ultimate economic puzzle and the great political challenge: Why have American incomes remained so flat, for so long, and what can be done to change that?

Health Care

News                                                                                                                             
The Daily Signal | Government Insider Warned of HealthCare.gov Security Risks: ‘I Am Tired of the Cover-Ups’
Government insiders who flagged security issues prior to the launch of HealthCare.gov were right to be concerned.

Econ Comments & Analysis                                                                                            
The Daily Signal | The Problems With the Census Bureau’s New Estimates on How Many Americans Have Health Insurance
If you are looking for information on how Americans are engaging with the Affordable Care Act, the Census Bureau’s recently released latest annual estimates of health insurance coverage is probably not the place to look—at least for now.
Mercatus Center | The Medicare Cost Problem Remains Unsolved
On August 28 the New York Times published a provocative article entitled “Medicare: Not Such a Budget Buster Anymore.”

Monetary

News                                                                                                                             
Fox News | Federal Reserve balance sheet could return to normal at end of decade, Yellen says
Federal Reserve Chair Janet Yellen says "it could take until the end of the decade" to shrink the Fed's record investment portfolio to more normal levels.

Econ Comments & Analysis                                                                                            
Forbes | Quantitative Futility
Evidence is piling up that the Federal Reserve, which has been conducting a rules-free, 100% discretionary monetary policy for the past 13+ years, simply Does Not Know What It Is Doing.

Taxes

News                                                                                                                             
Bloomberg | Japan’s Household Assets Rise to Record as Abe Weighs Tax
Japan’s household assets rose to a record, providing support for consumers as Prime Minister Shinzo Abe weighs another increase in the nation’s sales tax.

Econ Comments & Analysis                                                                                            
Wall Street Journal | Your Tax Dollars Haplessly at Work
Congress returned to its investigation of the General Motors  faulty ignition switch Tuesday with a blistering Senate hearing on the National Highway Traffic Safety Administration's failure to act.
The Washington Times | Making the Internet more expensive for consumers
Congress has long been derided as a body crippled by score-settling, grandstanding and ideological skirmishing.

Employment

News                                                                                                                             
Market Watch | U.S. weekly jobless claims fall 36,000 to 280,000
The number of people who applied for jobless benefits dropped 36,000 to 280,000 in the week that ended Sept. 13, hitting the lowest level since mid-July, signaling that employers are laying off very few workers, according to government data released Thursday.

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Wall Street Journal | Revised Payroll Data Show Better Mix of Jobs, Nearly Same Total
A preliminary annual revision to payroll data, released Thursday, shows an earlier count of how many people were employed in the U.S. in March was off by just 7,000. (Total payrolls equaled 138 million that month.)