News
CNN: Money | Open enrollment: Maximize your benefits
Though the offerings may look pretty much the same as last year's, companies are tinkering with the design of their health plans to shift even more of the financial burden to employees.
Econ Comments
AEI | Medicine's Next Great Challenge: Returning Science to Patient
Creating the personalized healthcare system of the future will require the combined efforts of universities and industry, regulators and entrepreneurs. But more than anything else, it will require an unprecedented level of participation from patients themselves, whose willingness to contribute to this effort and share of themselves will ultimately drive the success of this initiative.
WSJ | The Census, ObamaCare and the Uninsured
Health insurance remains closely tied to employment. Don't expect a turnaround until the jobs picture improves.
Monday, September 26, 2011
Monetary
News
Bloomberg | Betting on Bernanke Returns 28% for Treasuries
Treasuries due in 10 or more years have returned 28 percent in 2011, exceeding the 24.4 percent gain in all of 2008 during worst financial crisis since the Great Depression.
Econ Comments
Washington Times | EDITORIAL: Keep the change
During Banking Committee nomination hearings, senators will often ignore candidates for important jobs in other financial roles if there’s someone else at the table who can talk about dollar coins. This utterly wasteful program is costing us a billion, and it’s a perfect example of why this country is going bankrupt.
WSJ | Will Chinese Twist Fight the Fed?
China probably won't face a new wave of destabilizing hot money into its financial system. "Operation Twist" doesn't involve printing more money, but only a shift in $400 billion of the Federal Reserve's holdings of U.S. Treasury's from the short to the long end of the curve.
Blogs
Minyanville | The Logic of Operation Twist
Realistically, no one should hold out any hope for this latest foray into monetary tinkering to affect output and employment.
Bloomberg | Betting on Bernanke Returns 28% for Treasuries
Treasuries due in 10 or more years have returned 28 percent in 2011, exceeding the 24.4 percent gain in all of 2008 during worst financial crisis since the Great Depression.
Econ Comments
Washington Times | EDITORIAL: Keep the change
During Banking Committee nomination hearings, senators will often ignore candidates for important jobs in other financial roles if there’s someone else at the table who can talk about dollar coins. This utterly wasteful program is costing us a billion, and it’s a perfect example of why this country is going bankrupt.
WSJ | Will Chinese Twist Fight the Fed?
China probably won't face a new wave of destabilizing hot money into its financial system. "Operation Twist" doesn't involve printing more money, but only a shift in $400 billion of the Federal Reserve's holdings of U.S. Treasury's from the short to the long end of the curve.
Blogs
Minyanville | The Logic of Operation Twist
Realistically, no one should hold out any hope for this latest foray into monetary tinkering to affect output and employment.
Taxes
Blogs
Heritage Foundation | Chart of the Week: U.S. Rivals Japan for World’s Highest Corporate Tax Rate
Republicans and Democrats on the Joint Select Committee on Deficit Reduction this week finally agreed on something substantive: The U.S. corporate tax rate is too high.
Heritage Foundation | Scribecast: Rep. Kevin Brady on Taxes, Free Trade and Why Texas Is Best
The MAP ACT is an ambitious plan to control government spending through “smart caps” and other measures such as a Sunset Commission and requirement to prioritize spending from most to least essential. He would also create a permanent continuing resolution to avoid the threat of government shutdowns.
Heritage Foundation | Chart of the Week: U.S. Rivals Japan for World’s Highest Corporate Tax Rate
Republicans and Democrats on the Joint Select Committee on Deficit Reduction this week finally agreed on something substantive: The U.S. corporate tax rate is too high.
Heritage Foundation | Scribecast: Rep. Kevin Brady on Taxes, Free Trade and Why Texas Is Best
The MAP ACT is an ambitious plan to control government spending through “smart caps” and other measures such as a Sunset Commission and requirement to prioritize spending from most to least essential. He would also create a permanent continuing resolution to avoid the threat of government shutdowns.
Budget
News
CNN Money | Shutdown looms as Congress debates FEMA funding
The standoff continues Monday between the House and the Senate over emergency funding, which is holding up a short-term spending measure to keep government running into the new fiscal year that begins this weekend.
NY Times | As Sides Dig In, Panel on Deficit Has an Uphill Fight
As if expectations were not low enough for the special Congressional committee charged with writing a deficit-reduction deal, they seem to be falling by the day as the two parties harden their positions on spending and taxes.
CNN Money | Geithner sounds alarm on Europe
U.S. Treasury Secretary Tim Geithner warned Saturday that the sovereign debt and banking crisis in Europe represents "the most serious risk now confronting the world economy."
Politico | Disaster aid or disaster in making?
Senate Majority Leader Harry Reid’s risky decision to wait until the 11th hour to hold a vote on a must-pass budget bill relies on the support of a handful of Republicans who previously backed a Democratic plan approving billions in federal disaster aid.
CNN Money | Shutdown looms as Congress debates FEMA funding
The standoff continues Monday between the House and the Senate over emergency funding, which is holding up a short-term spending measure to keep government running into the new fiscal year that begins this weekend.
NY Times | As Sides Dig In, Panel on Deficit Has an Uphill Fight
As if expectations were not low enough for the special Congressional committee charged with writing a deficit-reduction deal, they seem to be falling by the day as the two parties harden their positions on spending and taxes.
CNN Money | Geithner sounds alarm on Europe
U.S. Treasury Secretary Tim Geithner warned Saturday that the sovereign debt and banking crisis in Europe represents "the most serious risk now confronting the world economy."
Politico | Disaster aid or disaster in making?
Senate Majority Leader Harry Reid’s risky decision to wait until the 11th hour to hold a vote on a must-pass budget bill relies on the support of a handful of Republicans who previously backed a Democratic plan approving billions in federal disaster aid.
Friday, September 23, 2011
General Economics
News
Bloomberg | China, Japan Say Europe Must Fix Own Debt Crisis, No ‘Blank Check’ for Aid
Officials from China and Japan, the world’s second- and third-biggest economies, indicated that their support for Europe will have limits and the region needs to solve its own debt crisis.
CNN: Money | Global economy alarm bells ring
The latest monthly readings released Thursday on manufacturing in the eurozone, the U.K. and China all were weaker than they had been, as was a report on the service sector in Europe.
Bloomberg | World’s Financial System Risks Repeat of 2008 Credit Crisis, O’Neill Says
More than $3.4 trillion has been erased from equity values this week, driving global stocks into a bear market, as the Federal Reserve’s new stimulus and a pledge by Group of 20 nations fails to ease concern the global economy is on the brink of another recession.
CNN: Money | Poverty pervades the suburbs
A record 15.4 million suburban residents lived below the poverty line last year, up 11.5% from the year before, according to a Brookings Institution analysis of Census data released Thursday. That's one-third of the nation's poor.
Fox News | First-Time Owners Stuck in Their Homes
The housing decline that started in 2008 is having a profound impact on families across the country. Many who are in their first homes are stuck causing them to delay starting families or even moving for job opportunities.
Politico | Trade deal can't wait
The most important issue now pending between the governments of the Republic of Korea and the United States is to ratify and implement the South Korea-U.S. Free Trade Agreement without further delay.
WSJ | Economic Signals Heighten Worries of a Double-Dip
The risk remains that another shock—such as deeper turmoil in the European banking sector—could be one too many for the world economy.
Econ Comments
Washington Times | STANEK: Ponzi on the Potomac
Renowned economists agree: Social Security is a scam.
Daily Caller | Is this the beginning of a double-dip recession?
The Fed should have listened to the GOP congressional leadership, which in a letter advocated no more stimulus and no more market-subverting interference.
Politico | Agencies stiffing small-businesses
This apparent disinterest in helping small businesses is unacceptable, and the agencies that refuse to adhere to the Small Business Act will be held accountable.
Blogs
AEI: American | Is Competitiveness Worth Defending?
In the State of the Union address this year, President Obama called for a “competitiveness initiative.” He has his own Council on Jobs and Competitiveness, and earlier this week the White House released the president’s “American Jobs Act” and suggested the plan would help America compete: “The president’s plan will put Americans back to work in key areas that are central to America’s future competitiveness.”
AEI: American | How Do You Know When Government Has Gotten Too Big?
One reason for the D.C. area’s ranking, I’ve argued, is that federal salaries are likely to be excessive. Are federal employees more educated and experienced than the average private sector worker?
Reports
RCM: Wells Fargo | Investors Boost Existing Home Sales in August
Sales of existing homes increased 7.7 percent in August to an annualized rate of 5.03 million units. Single-family sales accounted for most of the gain as all four regions of the country reported increased sales activity.
Bloomberg | China, Japan Say Europe Must Fix Own Debt Crisis, No ‘Blank Check’ for Aid
Officials from China and Japan, the world’s second- and third-biggest economies, indicated that their support for Europe will have limits and the region needs to solve its own debt crisis.
CNN: Money | Global economy alarm bells ring
The latest monthly readings released Thursday on manufacturing in the eurozone, the U.K. and China all were weaker than they had been, as was a report on the service sector in Europe.
Bloomberg | World’s Financial System Risks Repeat of 2008 Credit Crisis, O’Neill Says
More than $3.4 trillion has been erased from equity values this week, driving global stocks into a bear market, as the Federal Reserve’s new stimulus and a pledge by Group of 20 nations fails to ease concern the global economy is on the brink of another recession.
CNN: Money | Poverty pervades the suburbs
A record 15.4 million suburban residents lived below the poverty line last year, up 11.5% from the year before, according to a Brookings Institution analysis of Census data released Thursday. That's one-third of the nation's poor.
Fox News | First-Time Owners Stuck in Their Homes
The housing decline that started in 2008 is having a profound impact on families across the country. Many who are in their first homes are stuck causing them to delay starting families or even moving for job opportunities.
Politico | Trade deal can't wait
The most important issue now pending between the governments of the Republic of Korea and the United States is to ratify and implement the South Korea-U.S. Free Trade Agreement without further delay.
WSJ | Economic Signals Heighten Worries of a Double-Dip
The risk remains that another shock—such as deeper turmoil in the European banking sector—could be one too many for the world economy.
Econ Comments
Washington Times | STANEK: Ponzi on the Potomac
Renowned economists agree: Social Security is a scam.
Daily Caller | Is this the beginning of a double-dip recession?
The Fed should have listened to the GOP congressional leadership, which in a letter advocated no more stimulus and no more market-subverting interference.
Politico | Agencies stiffing small-businesses
This apparent disinterest in helping small businesses is unacceptable, and the agencies that refuse to adhere to the Small Business Act will be held accountable.
Blogs
AEI: American | Is Competitiveness Worth Defending?
In the State of the Union address this year, President Obama called for a “competitiveness initiative.” He has his own Council on Jobs and Competitiveness, and earlier this week the White House released the president’s “American Jobs Act” and suggested the plan would help America compete: “The president’s plan will put Americans back to work in key areas that are central to America’s future competitiveness.”
AEI: American | How Do You Know When Government Has Gotten Too Big?
One reason for the D.C. area’s ranking, I’ve argued, is that federal salaries are likely to be excessive. Are federal employees more educated and experienced than the average private sector worker?
Reports
RCM: Wells Fargo | Investors Boost Existing Home Sales in August
Sales of existing homes increased 7.7 percent in August to an annualized rate of 5.03 million units. Single-family sales accounted for most of the gain as all four regions of the country reported increased sales activity.
Health Care
News
National Journal | Long-Term Insurance Program Gets No Money, Loses Staff
Republicans on Capitol Hill gleefully circulated a note on Thursday from a staffer at a controversial long-term disability program called CLASS saying the Health and Human Services Department will close the program.
National Journal | Geithner: Higher Retirement Age Must Be Accompanied by Health Reform
The Obama administration isn’t going to push for raising the Medicare eligibility age to reduce the nation’s deficit until its 2010 overhaul of the country's health insurance system is more firmly in place, Treasury Secretary Timothy Geithner said on Thursday.
Blogs
Heritage Foundation | The Latest Obamacare Implosion
Inefficient programs that don’t solve problems and are passed against the will of the American people seem to be the Obama Administration’s forte. Now their high-minded aspirations of a health care revolution are quickly unraveling as fatal glitches in Obamacare become apparent.
Heritage Foundation | If You Like Your Health Care Plan, Can You Keep It?
Since Obamacare will require employers to spend more money on health care plans for their employees, it’s expected to hinder job creation. To avoid this, a discussion draft under review would prevent the regulations and requirements in the new law from affecting grandfathered health plans.
National Journal | Long-Term Insurance Program Gets No Money, Loses Staff
Republicans on Capitol Hill gleefully circulated a note on Thursday from a staffer at a controversial long-term disability program called CLASS saying the Health and Human Services Department will close the program.
National Journal | Geithner: Higher Retirement Age Must Be Accompanied by Health Reform
The Obama administration isn’t going to push for raising the Medicare eligibility age to reduce the nation’s deficit until its 2010 overhaul of the country's health insurance system is more firmly in place, Treasury Secretary Timothy Geithner said on Thursday.
Blogs
Heritage Foundation | The Latest Obamacare Implosion
Inefficient programs that don’t solve problems and are passed against the will of the American people seem to be the Obama Administration’s forte. Now their high-minded aspirations of a health care revolution are quickly unraveling as fatal glitches in Obamacare become apparent.
Heritage Foundation | If You Like Your Health Care Plan, Can You Keep It?
Since Obamacare will require employers to spend more money on health care plans for their employees, it’s expected to hinder job creation. To avoid this, a discussion draft under review would prevent the regulations and requirements in the new law from affecting grandfathered health plans.
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