September 1, 2014

Blogs

Nearly Half a Trillion in the Red in Just Three Months

There’s news from the Treasury Department today (monthly Treasury statement) on the federal budget deficit for the first quarter of fiscal year 2009 (i.e., 4th quarter of calendar year 2008). I guess this is what a year headed for a (way?-)more-than-a-trillion-dollars deficit looks like; AP reports:

I.O.U.S.A. on CNN This Weekend

Fresh off its appearance as one of five documentaries competing for a Critics Choice Award last night, I.O.U.S.A. will air on CNN two times this weekend.

Why Do Two Wrongs Have to Make a Political Compromise?

This week we've heard more about what's likely to be in the mix in the next economic stimulus/recovery package.  We've learned that there are more tax cuts in the picture—this despite the skepticism expressed over the past few months about how effective another round of tax cuts would be in boosting consumption, given the already-mediocre marks  many economists gave them the last time around, and the current state of American consumers, who are now less than enthusiastic about even being

Another 10 Trillion?!

The big story today is that the non-partisan Congressional Budget Office updated their baseline estimate for the federal budget's ten-year outlook. Our analysis, based on their most recent data, shows that current policy trends could add $10.295 trillion to the national debt from 2010-2019. Note that the current national debt is $10.6 trillion, so this would double that in just 10 years!

With a New Year, the World Ages

To start out the new year, I want to call attention to a recent Washington Post Op-Ed by Neil Howe and Richard Jackson, the editors of the Concord Coalition's Facing Facts Quarterly.

I.O.U.

Many of you have heard about the documentary movie I.O.U.S.A. For this blog post, I would like to borrow just the first three letters of this catchy title as I thank the wonderful Concord Coalition volunteers of the Midwest: I.O.U.

Why Health Care Costs Will Continue To Rise

Although the report doesn’t speculate on the size of the potential cost savings that could be obtained from some of the reform proposals (most of which are not terribly comprehensive or economically “bold”–although elimination of the employer-provided health care tax exclusion would surely be politically “bold”), I found the discussion on pages 118-119 of the health care chapter most interesting:

New Face of the Youth

A few weeks back we had our annual Economic Patriot Award Dinner, and among the short list of speakers (which included award recipient New York City Mayor Michael Bloomberg) was Yoni Gruskin, Executive Director of the youth advocacy group, Concerned Youth of America (CYA). A sophomore from The University of Pennsylvania, he gave an inspired and inspiring address that spoke to the timelessness of partiotism and an honest sense of American stewardship shared across generations. 

Glass Houses

Executive Director Bob Bixby has a timely (in light of today's Congressional hearings) Op-Ed in this morning's Washington Post that analogizes congressional pressure on the big three automakers to come up with a sustainable, long-term business model, to the pressure that should be put on Congress to come up with a similarly forward-looking plan for the federal budget.

What Disagreement on the Need for Stimulus?

Congress has been developing a stimulus plan in recent weeks which it hopes will provide a much needed boost to the ailing economy. There has been a tendency to pin those supporting a large stimulus plan against those individuals deemed to be “deficits hawks.”