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Austerity Hasn’t Lost the Battle Yet

Austerity Hasn’t Lost the Battle Yet

The amazing discrediting of one of the most influential research papers of our time—Kenneth Rogoff and Carmen Rinehart’s 2010 “Growth in a Time of Debt”—has mobilized opponents of austerity around the globe.

As we wrote last week, the paper, which … More…

Bush Was the Worst President of the Last 50 Years

Bush Was the Worst President of the Last 50 Years

On Thursday President Obama and the four living former presidents will travel to Dallas to dedicate the George W. Bush Presidential Library and Museum at Southern Methodist University. Everyone will no doubt say kind things about the 43rd president, … More…

Kenneth Rogoff small Canada 2020

Rogoff and Reinhart’s Screw-Up May Undercut Austerity

So, now it seems that the paper heard ‘round the world—the 2010 study by Kenneth Rogoff and Carmen Reinhart that said economic growth goes negative when debt gets too big—was deeply flawed.

The two researchers, now both Harvard professors, … More…

Marco Rubio on Face the Nation (540×354)

Rubio Takes a Calculated Risk on Immigration Reform

There was Sen. Marco Rubio of Florida on seven—that’s right, seven– different Sunday talk shows, making the case for immigration reform.

Rubio will join eight Senators of both parties to present the bill officially on Tuesday. It promises to be More…

President Obama Unveils 2014 Budget (540×405)

President’s Budget Is a Small Step Forward

President Obama finally presented his 2014 budget Wednesday, and the coverage has been mostly favorable, except on the progressive left and the Tea Party right.

Progressives were enraged at the president for changing the way cost-of-living increases are calculated for … More…

Margaret Thatcher and Ronald Reagan Official White House Photo Margaret Thatcher Foundation (540×489)

How Thatcher Set the Template for Reagan

Love her or hate her, one thing is beyond dispute: Margaret Thatcher mattered.

The grocer’s daughter from Grantham, England became the United Kingdom’s first woman prime minister. She also served the longest of any PM in the 20th Century. … More…

Labor force participation (540×405)

Where Have All the Workers Gone?

The March employment report, released last Friday, was a real shocker. After several consecutive months of strong jobs growth, we got only 88,000 net new jobs last month.

The official unemployment rate dropped 0.1 percentage points in March, to 7.6%, … More…

President Obama meets Congressional leaders briefly at Capitol Pete Souza (540×360)

Will the Budgetary Twain Ever Meet?

Now that the Democratic-controlled Senate has passed its first budget in four years by the resounding margin of 50-49, Congressional leaders will face the unenviable task of reconciling it with the budget passed by the House of Representatives and sponsored … More…

Le-reve-1932-Wikimedia

Multibillionaire Hedgie Thumbs His Nose at the Feds

A couple of weeks ago, Steven A. Cohen, the multibillionaire founder of hedge fund SAC Capital, agreed to settle insider-trading charges with the Justice Department and the Securities and Exchange Commission for what the feds predictably called a “record” $616 … More…

Cyprus Financial Crisis

Why America Is Not Cyprus–or Europe

The banking crisis in Cyprus has caused alarm bells to ring in the US—mostly from the Fox News channels, Tea Party spiritual leader Rick Santelli on CNBC and conservative bloggers, who have proclaimed this is a warning sign for us … More…