Blogs
Marginal Revolution | Medicare cost control in action
Tens of thousands of people with chronic conditions and disabilities may find it easier to qualify for Medicare coverage of potentially costly home health care, skilled nursing home stays and outpatient therapy under policy changes planned by the Obama administration.
Wednesday, October 24, 2012
Taxes
News
National Journal | As Cliff Looms, IRS Braces for Chaos
At the beginning of each year, the Internal Revenue Service issues forms and instructions to help employers calculate tax withholding from workers’ paychecks. The new year is also crunch time for issuing guidance to taxpayers before the April filing deadline. The process is always hectic, but in 2013, it could be especially chaotic.
Econ Comments & Analysis
Real Clear Markets | How Tax Reform Became a Conservative Cause
For decades liberals railed against the gradual evolution of the federal income tax into a morass of special provisions benefitting individual interests at the expense of the average taxpayer. Under that system, tax rates became meaningless for some households and companies because what they paid depended on how many special exemptions they could claim.
National Journal | As Cliff Looms, IRS Braces for Chaos
At the beginning of each year, the Internal Revenue Service issues forms and instructions to help employers calculate tax withholding from workers’ paychecks. The new year is also crunch time for issuing guidance to taxpayers before the April filing deadline. The process is always hectic, but in 2013, it could be especially chaotic.
Econ Comments & Analysis
Real Clear Markets | How Tax Reform Became a Conservative Cause
For decades liberals railed against the gradual evolution of the federal income tax into a morass of special provisions benefitting individual interests at the expense of the average taxpayer. Under that system, tax rates became meaningless for some households and companies because what they paid depended on how many special exemptions they could claim.
Employment
News
FOX News | ADP making changes to monthly employment report, will now team on it with Moody's Analytics
Automatic Data Processing Inc. is making some changes to its monthly employment report, including adding more industry categories.
CNN Money | Dow Chemical cuts 2,400 jobs
Dow Chemical announced Tuesday that it is cutting 2,400 jobs, citing slow economic growth in Europe and elsewhere.
Econ Comments & Analysis
Washington Times | EPA anti-energy regulations killing jobs
More and more, daily decisions are made less by responsible citizens than by nanny-state government, especially powerful, unelected, unaccountable executive branch agencies in Washington. Among the worst is the Environmental Protection Agency (EPA).
FOX News | ADP making changes to monthly employment report, will now team on it with Moody's Analytics
Automatic Data Processing Inc. is making some changes to its monthly employment report, including adding more industry categories.
CNN Money | Dow Chemical cuts 2,400 jobs
Dow Chemical announced Tuesday that it is cutting 2,400 jobs, citing slow economic growth in Europe and elsewhere.
Econ Comments & Analysis
Washington Times | EPA anti-energy regulations killing jobs
More and more, daily decisions are made less by responsible citizens than by nanny-state government, especially powerful, unelected, unaccountable executive branch agencies in Washington. Among the worst is the Environmental Protection Agency (EPA).
Budget
News
WSJ | Debt Investors Put Faith in a More Stable Africa
African countries are winning over investors scrounging for profits in a world of falling interest rates and lackluster growth.
CNN Money | Greece gets 2-year bailout extension
Greece has reached a new deal with its international lenders, gaining two more years to make painful spending cuts and tax increases, and paving the way for the troubled nation to receive the next installment of bailout funding.
Econ Comments & Analysis
Washington Times | Obama’s legacy is ’til debt do us part
The end of his fourth year is a good time to see what President Obama hath wrought on the nation’s finances. It’s not a pretty picture.
Blogs
Neighborhood Effects | Is the United Kingdom Savagely Cutting Spending?
In new Mercatus research, UK-based economist Anthony Evans goes in search of the data.
WSJ | Debt Investors Put Faith in a More Stable Africa
African countries are winning over investors scrounging for profits in a world of falling interest rates and lackluster growth.
CNN Money | Greece gets 2-year bailout extension
Greece has reached a new deal with its international lenders, gaining two more years to make painful spending cuts and tax increases, and paving the way for the troubled nation to receive the next installment of bailout funding.
Econ Comments & Analysis
Washington Times | Obama’s legacy is ’til debt do us part
The end of his fourth year is a good time to see what President Obama hath wrought on the nation’s finances. It’s not a pretty picture.
Blogs
Neighborhood Effects | Is the United Kingdom Savagely Cutting Spending?
In new Mercatus research, UK-based economist Anthony Evans goes in search of the data.
Tuesday, October 23, 2012
General Economics
News
WSJ | U.K. Businesses Wary of Spending
Economic uncertainty continues to limit U.K. business investment plans, with the latest figures published Tuesday reporting a fourth consecutive net repayment by nonfinancial firms to British high street banks.
Washington Times | Caterpillar: Economy weaker than expected
Caterpillar says the world’s economy is weaker than it thought, and it doesn’t expect growth to pick up until the second half of next year.
Bloomberg | World Bank Lauds Developing Nations’ Competitiveness Push
Singapore ranked at the top of the World Bank’s annual competitiveness study for a seventh straight year, while developing nations were found to be accelerating reforms making it easier to open and operate businesses.
CNN Money | Gas price slide could brighten Thanksgiving
Americans thinking about driving over the river and through the woods for Thanksgiving could be in line for a nice surprise: lower gas prices.
Market Watch | CFTC's Gensler: Derivatives transparency by 2013
The public will benefit from real-time reporting for the $650 trillion global derivatives market by year-end, the nation's commodity futures regulator said Tuesday.
Bloomberg | DeMarco Shrinks Fannie-Freddie Without Help From Congress
The man with power over more than half of U.S. mortgages lives in a 1961 brick split-level house. There’s a basketball hoop in the driveway and a green Subaru Outback in the carport. The homes on Edward J. DeMarco’s block are so close that neighbors see into each other’s windows.
Econ Comments & Analysis
WSJ | The Real Stimulus: Low-Cost Natural Gas
An unconventional oil and gas revolution is under way in the United States, but its full ramifications are only beginning to be understood. The basic facts are clear enough. Half a decade ago, it was assumed that the U.S. would become a large importer of liquefied natural gas; now the domestic natural gas market is oversupplied, thanks to the ability to produce shale gas through hydraulic fracturing and horizontal drilling technologies.
Real Clear Markets | Obama Envisions An Energy Future Through Pink Shades
In Monday's third foreign policy debate President Obama promised to develop the energy sources of the future.
WSJ | Banking Union or Bailout Union?
European policy makers are trumpeting the progress they made at last week's summit: The EU will agree "over the course of 2013" on how its banking union will work. But the more interesting action took place on the summit's sidelines.
Blogs
Daily Capitalist | Fraud: Why The Great Recession
Free markets are not to be blamed for the Great Recession. On the contrary, its origins rest upon the deep government and central bank intervention in the economy. Through fraudulent mechanisms, this causes recurrent boom and bust cycles: bad policies create phases of irrational exuberance, which are then followed by economic recessions, a result that every citizen ends up suffering from.
John Cochrane | Are recoveries always slow after financial crises and why
Carmen Reinhart and Ken Rogoff have an interesting new Bloomberg column, "Sorry, U.S. recoveries really aren't different." They point to the great Barry Eichengreen and Kevin O'Rourke "Tale of two depressions: what do the new data tell us" columns.
AEI | Disagreeing with Christina Romer on the value of the Obama stimulus
Former Obama White House economic adviser Christina Romer gives it her best effort in defending the efficacy of the 2009 American Recovery and Reinvestment Act. In a New York Times op-ed yesterday, Romer says the stimulus package wasn’t “the knockout punch the administration had hoped for, but a valuable effort that improved the lives of many.”
WSJ | U.K. Businesses Wary of Spending
Economic uncertainty continues to limit U.K. business investment plans, with the latest figures published Tuesday reporting a fourth consecutive net repayment by nonfinancial firms to British high street banks.
Washington Times | Caterpillar: Economy weaker than expected
Caterpillar says the world’s economy is weaker than it thought, and it doesn’t expect growth to pick up until the second half of next year.
Bloomberg | World Bank Lauds Developing Nations’ Competitiveness Push
Singapore ranked at the top of the World Bank’s annual competitiveness study for a seventh straight year, while developing nations were found to be accelerating reforms making it easier to open and operate businesses.
CNN Money | Gas price slide could brighten Thanksgiving
Americans thinking about driving over the river and through the woods for Thanksgiving could be in line for a nice surprise: lower gas prices.
Market Watch | CFTC's Gensler: Derivatives transparency by 2013
The public will benefit from real-time reporting for the $650 trillion global derivatives market by year-end, the nation's commodity futures regulator said Tuesday.
Bloomberg | DeMarco Shrinks Fannie-Freddie Without Help From Congress
The man with power over more than half of U.S. mortgages lives in a 1961 brick split-level house. There’s a basketball hoop in the driveway and a green Subaru Outback in the carport. The homes on Edward J. DeMarco’s block are so close that neighbors see into each other’s windows.
Econ Comments & Analysis
WSJ | The Real Stimulus: Low-Cost Natural Gas
An unconventional oil and gas revolution is under way in the United States, but its full ramifications are only beginning to be understood. The basic facts are clear enough. Half a decade ago, it was assumed that the U.S. would become a large importer of liquefied natural gas; now the domestic natural gas market is oversupplied, thanks to the ability to produce shale gas through hydraulic fracturing and horizontal drilling technologies.
Real Clear Markets | Obama Envisions An Energy Future Through Pink Shades
In Monday's third foreign policy debate President Obama promised to develop the energy sources of the future.
WSJ | Banking Union or Bailout Union?
European policy makers are trumpeting the progress they made at last week's summit: The EU will agree "over the course of 2013" on how its banking union will work. But the more interesting action took place on the summit's sidelines.
Blogs
Daily Capitalist | Fraud: Why The Great Recession
Free markets are not to be blamed for the Great Recession. On the contrary, its origins rest upon the deep government and central bank intervention in the economy. Through fraudulent mechanisms, this causes recurrent boom and bust cycles: bad policies create phases of irrational exuberance, which are then followed by economic recessions, a result that every citizen ends up suffering from.
John Cochrane | Are recoveries always slow after financial crises and why
Carmen Reinhart and Ken Rogoff have an interesting new Bloomberg column, "Sorry, U.S. recoveries really aren't different." They point to the great Barry Eichengreen and Kevin O'Rourke "Tale of two depressions: what do the new data tell us" columns.
AEI | Disagreeing with Christina Romer on the value of the Obama stimulus
Former Obama White House economic adviser Christina Romer gives it her best effort in defending the efficacy of the 2009 American Recovery and Reinvestment Act. In a New York Times op-ed yesterday, Romer says the stimulus package wasn’t “the knockout punch the administration had hoped for, but a valuable effort that improved the lives of many.”
Health Care
Econ Comments & Analysis
John Cochrane | After the ACA: Freeing the market for health care
Most of the current policy debate, and the optimistically‐named “Affordable Care Act,” focuses on health insurance. I think we need to move on to think about the economics of health care. If the ACA is repealed, we still have a mess on our hands, and just fixing insurance will not be enough to clean up that mess.
Blogs
Neighborhood Effects | If Obamacare is Repealed, Maybe We Should Replace it With George McGovern’s Plan?
The editorial board in today’s Wall Street Journal eulogizes George McGovern. At the end, they point to a 1992 OpEd that McGovern wrote for the journal. It talks about the regulatory burdens he encountered after he gave up the trappings of public office to become an inn-keeper
John Cochrane | After the ACA: Freeing the market for health care
Most of the current policy debate, and the optimistically‐named “Affordable Care Act,” focuses on health insurance. I think we need to move on to think about the economics of health care. If the ACA is repealed, we still have a mess on our hands, and just fixing insurance will not be enough to clean up that mess.
Blogs
Neighborhood Effects | If Obamacare is Repealed, Maybe We Should Replace it With George McGovern’s Plan?
The editorial board in today’s Wall Street Journal eulogizes George McGovern. At the end, they point to a 1992 OpEd that McGovern wrote for the journal. It talks about the regulatory burdens he encountered after he gave up the trappings of public office to become an inn-keeper
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