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  • Job One is to Tell the Whole Jobs Story

    Whenever government throws billions of dollars at the economy, one would certainly expect to find some jobs at the end of those dollars. President Obama has worked hard to convince the nation that the mega fiscal stimulus he signed into law produced some 650,000 jobs. This PR blitz is amazing … More

    Exchange Rates and Interest Rates Tell Confusing Story

    The dollar’s steady and sometimes fleet downward slide in exchange markets is eliciting a number of interesting explanations, but most commentators are only looking at their favorite piece of the economic puzzle. The dollar is under pressure against, well, every currency that matters. But why, and are there other financial … More

    Obama’s Health Care Tax Explanation: Doesn’t Pass the Laugh Test

    The White House put out talking points on Tuesday in an attempt to deflect the debate on the multitude of tax increases in the health care plan working through the Senate Finance Committee. These tax increases almost uniformly violate (again) the President’s plan not to raise taxes on middle-income Americans. … More

    The Medicare Raid in Baucus Bill

    Senate Finance Committee Chairman Baucus’ (D-MT) health care reform proposal includes a number of reforms to reduce Medicare outlays. Medicare, as is now well established, is unsustainable in its current form. Projections of promised benefits far outstrip projections of program receipts, leaving the nation with an unfunded obligation of tens … More

    Full CBO Scoring Crucial in Health Care Reform

    The Senate Finance Committee will soon take up Chairman Baucus’ health care reform proposal for consideration and amendment. The initial proposal as outlined September 17 was incomplete in many respects and a detailed evaluation is impossible. There was enough detail to provide a meaningful initial reaction . The Congressional Budget … More

    Obama’s Deficient Budget Pledge

    President Obama’s address to a Joint Session of Congress on health care reform included a range of urgings, pleadings, and partisan jabs, and a single bright line in the sand dealing not with health care per se but with the deficit. The President said, “I will not sign a plan … More

    On the Fed, the Journal’s Readers Deserve Better

    The snarky aside is a common tool substituting for a sound argument. Sadly, a Wall Street Journal editorial today gave in to the temptation. The subject was the announcement by the Federal Reserve that it would maintain its basic, highly accommodative monetary policy stance for “an extended period”. The Fed … More

    Jobs Down 247,000 -- Mission Accomplished?

    In a discussion about the economy and the stimulus package President Obama signed into law earlier in the year, Vice President Joe Biden last Sunday said, “Jobs are being created that would not have been there before. Can I claim credit that all that’s due to the recovery package? No. … More

    Clunker Health Care Reform

    The $1 billion “Cash for Clunkers” auto bailout Congress passed last June has run out of cash after one week. The House of Representatives is already readying a bill to pump another $2 billion into the program, setting a new land speed record for expanding foolish programs. There are so … More

    Elmendorf, Obama Put CBO’s Integrity at Risk

    According to President Obama’s televised remarks, he recently met with Congressional Budget Office (CBO) Director Doug Elmendorf to discuss health care reform. Of course, the President may desire to meet with anyone if he believes such a meeting can help advance his agenda. However, it is extremely disturbing for a … More