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    Economic Myths vs. Reality

    The recent failures of Bear Stearns and the Carlyle Group, coupled with turmoil in the housing markets and overall pessimism about the economy, has Congress rushing to microphones to promise a legislative quick fix. Meanwhile, President Bush and the Federal Reserve are being second guessed by liberal economists for not … More

    A Pointless Excercise at the Post

    The Washington Post solicited plans from each of the remaining presidential campaigns on what each candidate will do, if elected, “to solve the current crisis.” Gene Sperling wrote for Hillary Clinton, Dougla Holtz-Eakin wrote for John McCain, and Austan ‘I did not make reassurances to that Canadian” Goolsbee wrote for … More

    Morning Bell: Don't Make the Markets Worse

    The campaign to turn the current economic turmoil into justifications for new invasive federal government intervention in the marketplace is in full swing. The Hill reports, “After Bear Stearns bailout, Dems renew push to help homeowners,” and E.J. Dionne comments: “Never do I want to hear again from my conservative … More

    Fed Responds to Risky Business

    Despite the Fed’s bold and timely moves, the U.S. economy overall has at best entered a period of slow growth, and may be teetering on the edge of recession if one is not already at hand. Two major sectors of the economy – housing and financial markets – are in … More

    Morning Bell: Just Don't Call It a Tax Hike

    It is not common to advocate for tax increases as the economic outlook darkens, but that is exactly what liberals in Congress did yesterday when the House and Senate passed budget blueprints. Sympathetic minds in the press are determined to portray the budget proposals as only letting “tax cuts expire“, … More

    Tax Cut Facts

    Since the economy is set to be a key issue in the general election, tax policy will be a major point of departure for the two eventual nominees. Both leading Democrats have pledged to end the Bush tax cuts arguing that they only benefited upper income tax payers and that … More

    So Are Biofuel Assets Subprime, or Not?

    Al Gore has warned a group of leading investment managers at a UN-sponsored conference to cleanse their portfolios of “subprime carbon assets.” In Gore’s mind, businesses that rely on carbon-intensive energy are bad investments — or should be, and Wall Street should see them as riskier than “clean energy” companies … More

    Not So Fair and Balanced at the Wall Street Journal

    A story in yesterday’s Wall Street Journal , “Cost of Business Tax Cuts Underestimated,” argues that the revenue estimates of the business tax cuts included in the tax stimulus bill are low-balled because the tax relief is spread over a number of years and so the time value of money … More

    A Real Solution to Our Economy's Woes

    The federal government is doing all it can to revive the economy and prevent the United States from dipping into a recession. Most notable is the stimulus package focused on tax rebates which, in effect, won’t actually stimulate the economy. As Roy Innis, chairman of the Congress of Racial Equality, … More

    Morning Bell: Stop the Tehran Two Step

    When the National Intelligence Estimate announced that, “We judge with high confidence that in fall 2003, Tehran halted its nuclear weapons pro­gram,” it was the lead story in the nation’s biggest newspapers. But following congressional testimony from Director of National Intelligence Michael McConnell that only the “least significant” parts of … More