Exchequer

Bring on the Draconian Cuts

Hark, unless mine eyes are cheated, it appears that the House has passed a bill — on energy and water development — that would spend less money than we spent ...

Today in Fiscal Foolishness

On the Corner: Delaware considers a bailout for casinos. Texas plans to spend millions of dollars to replace thousands of new computers (via Pratt on Texas).  Hey, let’s all have a big ...

Detroit Defaults

The City of Detroit has defaulted on a portion of its bonds, specifically on payments to unsecured creditors. Those who invested in bonds with dedicated revenue streams attached have been ...

Killing Pollyanna

There has been an unfortunate outbreak of deficit naivety in the past few weeks. Ezra Klein declared the deficit “pretty much solved, at least for the next 10 years or ...

The Revelries of Baucus

The New York Times on Sunday carried a heavy breathing report alerting the diminished newspaper-reading public to the fact that Senator Max Baucus (D., Mont.), who chairs the committee that ...

Where’s Warren?

  Where is Senator Elizabeth Warren when we need her? Senator Warren — whose main mode of political operation is grandstanding during financial-oversight hearings — recently browbeat some feckless Treasury officials ...

Children of the Corn

Everybody loves the idea of the self-sufficient farmer — hardy, independent, working his own land to produce what he needs on his own terms. It is a romantic vision, unless ...