Scalise: No Government Shutdown
The federal government will not run out of money until October 1, but new House majority whip Steve Scalise (R., La.) has already announced Republicans’ intention to surrender to President Obama and the Democrats on the issue of rising debt and …
Break Out the Party Hats!
Great news, everyone! The Office of Management and Budget says that this year’s deficit is slated to come in at only $759 billion!
Looking at the inflation-adjusted numbers for our annual deficit, year by year#…#$500 billion used to be considered a …
Okay, Mr. President, How About a Slightly Less Imbalanced Budget?
From the midweek edition of the Morning Jolt:
Obama: We Don’t Want a Balanced Budget Just for the Sake of Balance
When it comes to chasing a balanced budget, President Obama is not exactly Inspector Javert (or Samuel Gerard, …
Romney, RNC Kick Off Debt & Deficit Week
As mentioned below, this is “Debt and Deficit Week” for the Romney campaign. It’s the rhetorical equivalent of fish in a barrel.
This morning, the Republican National Committee takes batting practice on President Obama’s big promises, bigger disappointments, and biggest …
Is the Fed Pursuing Our Interest or Banks’ Interests?
The Fed signals that it intends to hitch our national wagon to Europe just as Europe is going over the edge, and the Dow jumps 4 percent. Maybe I’m missing something.
All that Bernanke & Co. did yesterday was to lower …
It’s not getting better:
Officials in Berlin told The Telegraph it is “more likely than not” that investors will suffer fresh losses on holdings of Greek debt, beyond the 21pc haircut agreed in July.
The exact level will …
Let’s say you’re a top-tier presidential candidate, and you want to steal the best ideas from the lower-tier candidates to buttress your own position and siphon away what support they have on the issues. You want to make …
Downgrade Watch: Weekend Edition
Stocks were pummeled this morning by a rumor that Standard & Poor’s would downgrade the United States, making the announcement after the close of markets Friday. When asked about this, S&P’s John Piecuch gave me the standard (and …
The Next Deficit-Reduction Deal
So, assuming this debt-ceiling deal gets done, are we out of the woods? Not by a long shot. Let’s revisit what Standard & Poor’s said on July 14:
Since we revised the outlook on our ‘AAA’ long-term rating to negative …
How Much Credibility Does the GOP Have on Taxes?
How you know the White House is not taking the bipartisan deficit-reduction talks seriously: Joe Biden is in charge. I’ve made that observation before, and people think it’s a quip, but I mean it. The vice president is …
Why the Debt Won’t — and Shouldn’t! — Go Away as a Campaign Issue
A few posts below, you’ll see that Republican representative Steve Daines of Montana, running for Senate, pledges he’s “fighting for more jobs and less government,” and he touts his bill that says if members of Congress can’t …
How Democrats Need You to Misunderstand ‘Deficit’ and ‘Debt’
Apparently the Democrats’ new dodge on the runaway national debt is to claim that the deficit is going down.
This argument relies on the public not knowing the difference between the deficit and the debt.
The deficit is a one-year …
It’s Debt and Deficit Week for the Romney Campaign
The big message for the week from the Romney campaign is the debt and deficit. This morning they pointed out in an e-mail:
On Friday, the Obama administration officially confirmed the FY2012 deficit exceeded $1 trillion for the fourth year in …
Bailing Out the Bail-Outers
Next up on the bailout parade? The FHA, probably:
The Federal Housing Administration, which backs about a third of U.S. home loans, could require billions of dollars in taxpayer aid if the housing market continues to deteriorate, a Republican …
Of German Bonds and American Prosperity
The question I am asked most often is: What will it take to get the government to stop running up the debt? A Republican president? A Republican president with a Republican House and a Republican Senate? A Republican president named …
Tons of Texas economic insights here.
On Monday, we will issue separate releases concerning affected ratings in the funds, government-related entities, financial institutions, insurance, public finance, and structured finance sectors.
If the U.S. government isn’t AAA, then government-backed securities aren’t …
Back-of-the-Envelope Balanced Budget
In one of the most awkward and vapid performances I can remember his having given, Pres. Barack Obama yesterday made it clear that he has learned absolutely nothing from the debt-ceiling debate — that he may be incapable of learning. …
The One True Debt Ceiling
Tim Geithner says there’s no “creative financial solution” to the debt-ceiling problem, but don’t believe him. Gimmicks are what these guys do: With the government having spent most of the Obama years “selling” most new Treasury bonds to …
For my sins, and in hopes of clarifying the debate, I will respond again to the criticism of Forbes’s Ralph Benko, though I am no longer much inclined to do so, inasmuch as I believe him to be either …