Michael Perelman reports with NPR's help about how the Republicans shut down the FAA in mid-July for nearly 4 weeks as a favor to Delta Airlines. Basically, in July the law authorizing the FAA, the agency that supervises airport and airline safety,including flight controllers, expired. Normally this would be a routine renewal effort. Even in … Continue reading Republicans: What Deficit? We Need to Stop Unions First.
In the whole crazy, unnecessary debate over raising the debt-ceiling law, politicians, reporters, and commentators all spoke as if there were only two ways to reduce the government deficits. Nearly everyone took it as an article of "serious thinking" that to reduce a deficit requires either reducing spending or increasing taxes. But rather than being … Continue reading There Is An Efffective Way to Reduce Government Deficit: Employment. But They Won’t Take That Route.
I don't enjoy scary movies. Never have. I also don't enjoy scary "amusement" park rides.* I know I'm kind of a fluke in our U.S. culture this way. I just find that there's enough excitement, thrills, and fright in the real world if you just open your eyes. An example of real world things to … Continue reading This Is No Movie Folks. It’s Real and It’s Scary.
One of the reasons my posts have been scarce* lately is because, frankly, I'm frustrated and nearly speechless at the foolish talk and nonsense that currently passes for news about the economy lately. In particular, this year the politicians and reporters in Washington have been focused on the federal government deficits and debt. We are … Continue reading How to Tell If the Politician or Reporter Is Ignorant, Foolish, or Has a Hidden Agenda – Part 1
The top end of the income distribution has recovered from any ill effects of the Great Recession, but the average worker has not. CEO's in particular saw their compensation increase 27% in 2010, while the workers at the corporations these CEO's "lead" has barely moved. Wonkroom notes: Households across the country are still feeling the … Continue reading CEO’s Pay Grows, Average Worker Pay Stagnates
My Mother was a big advocate of patience. She was the anti-crisis. In response to any panicked concerns I had about the some "crisis" that was coming, we always counseled "we'll cross that bridge when we get to it". And sure enough, there was usually either no problem eventuallly crossing the bridge or there was … Continue reading What Budget Crisis? Let’s Do Nothing Now
I missed this when it came out Feb 1, but an alert student pointed me to it. The NYTimes has an excellent interactive visual breakdown of the U.S. Federal Budget spending. It very graphically shows where the money goes and how much. Link: http://www.nytimes.com/interactive/2010/02/01/us/budget.html A couple of notes. First, the graphic shows only spending and … Continue reading U.S. Budget Proposal Analysis Tool (spending)
The easy way to fix Obama's healthcare bill/law and at the same time cut the federal deficit. Just sayin'... The Easy Way to Cut the Federal Deficit by Jonathan Zasloff One can debate the political pros and cons of President Obama’s proposed budget: Jonathan Chait does an excellent job here debating with — himself! But … Continue reading Easy Way to Fix Obamacare and Cut Deficit
From Alan Blinder via Brad deLong (bold emphasis mine): Alan Blinder: The Economic Silly Season Is Upon Us: 'Debt ceilings' and 'job killing' spending are two dumb ideas. Obsessing on the deficit while unemployment is at 9% is another: Our country seems mired deeply in the silly season.... The silliness comes in at least four … Continue reading Obsessing on Deficit When Unemployment Is 9% Is Silly
I will repeat: Social Security is NOT in financial trouble. Social Security does NOT contribute in any way shape or form to the U.S. Federal government's deficit, now or in the future. It cannot. If anything, it has enabled a coverup of how big the real deficit has been for years. News media does not … Continue reading Social Security Under Attack By Media