Tuesday, August 19, 2014

General Economics

Fox News | Power plant regs spur new union rebellion for Obama administration
The Obama administration is facing another union rebellion over its environmental policies, this time over the EPA’s proposed rules for limiting power plant emissions.
Bloomberg | Home Construction Rebounds in U.S. as Inflation Eases: Economy
Home construction rebounded in July and the cost of living rose at a slower pace, showing a strengthening U.S. economy has yet to generate a sustained pickup in inflation.

Econ Comments & Analysis                                                                                            
Washington Times | When regulators break their own rules
A major function of most regulatory agencies is to keep those in the private sector honest and from abusing power. Yet we know that those in government often abuse the power that has been entrusted to them.
Wall Street Journal | Liberals for Social Security Insolvency
On July 15 the Congressional Budget Office rolled out updated projections that show a precipitous decline in Social Security's solvency. The program's 75-year deficit has nearly quadrupled since 2008, and the trust fund's exhaustion date has moved forward by nearly 20 years.
Real Clear Markets | America Has a Retirement Spending Problem
Achieving a secure retirement is a complex endeavor. Working-age households are charged with saving the right amount to enable a similar standard of living in retirement as that enjoyed during their working years.
Bloomberg | Only Rich Know Wage Gains With No Raises for U.S Workers
Call it the no-raises recovery: Five years of economic expansion have done almost nothing to boost paychecks for typical American workers while the rich have gotten richer. | Wheels Are Coming Off California's Ballyhooed Comeback
Stop the music. All the merriment over the California recovery may have been a bit premature.

Health Care

CNN Money | Hospitals in battle to pay people's Obamacare premiums
Low-income consumers struggling to pay their Obamacare premiums may soon be able to get help from their local hospital or United Way.


Fox Business | Consumer Prices Tick Higher in July
U.S. consumer prices barely rose in July as declining energy costs partially offset increases in food and rents, which could give the Federal Reserve ammunition to keep interest rates low for a while.

Wall Street Journal | Grand Central: Fed’s Exit Strategy Quietly Taking Shape As September Meeting Approaches
Federal Reserve officials have been making progress on developing a blueprint for the mechanics of future interest rate increases, a project that has occupied much of the agenda of their past three policy meetings. This puts officials in a position to make some decisions on “how” they will raise interest rates– as opposed “when”– by their September meeting.
Market Watch | Fed says SEC money-market rule could spark, not reduce, runs
A new Securities and Exchange Commission rule designed to reduce runs in the money-market mutual-fund industry could instead spark them, the New York Federal Reserve said Monday.


Econ Comments & Analysis                                                                                            
Wall Street Journal | Beltway 'Strip' Club
Not content with the highest corporate tax rate in the industrialized world, President Obama and Sen. Chuck Schumer (D., N.Y.) seem determined to make the U.S. even less hospitable to business. Both are developing plans to make it more expensive for multinational companies to invest in America.
Mercatus Center | Cutting Taxes is Patriotic
Several states cut a wide variety of taxes this summer. Indiana and Rhode Island, for example, cut the conventional corporate tax. Idaho, meanwhile, took an unconventional route by cutting sales taxes on software purchased through “the cloud.” When revenues are on the rise, some states choose to lower taxes, while others prefer to spend the tax windfall. Both moves could be wrong.
NBER | Corporate Taxes and Capital Structure: A Long-Term Historical Perspective
We study the relation between leverage and corporate tax rates using an extensive data set constructed from all corporate income tax returns filed with the IRS from 1926 to 2009. This data set includes financial statement data from millions of private and public corporations of all sizes.


Wall Street Journal | Utah Emerges as Job Creation Engine, Giving Chase to North Dakota
The employment boom in the West isn’t confined to energy-rich North Dakota.
Wall Street Journal | Blame Employers, Not Workers, for Any Skills Gap, Economist Says
Ever since the the recession,  job openings have far outpaced the number of people being hired. A common refrain from employers is that workers lack proper training and education for the available jobs–in other words, that a “skills gap” is to blame.


The Daily Signal | Governor Grapples With Budget Shortfall, Won’t Give Up on Obamacare Medicaid Expansion
Virginia’s bleak financial outlook just got gloomier. Gov. Terry McAuliffe told members of the General Assembly that Virginia is projected to take in $2.4 billion less than it’s budgeted to spend during a three-year period.