Relevant and even prescient commentary on news, politics and the economy.

CBO’s 2015 Long-Term Projections for Social Security: Additional Information

CBO’s 2015 Long-Term Projections for Social Security: Additional Information The Social Security Policy Options, 2015 was not the only report released by CBO yesterday. You have this one filling out the details in the Long-Term Budget Outlook Haven’t read this one either. So you all get first shot at framing the debate! Go get ’em […]

US life expectancy flat for third year

US life expectancy flat for third year Life expectancy in the United States has stalled for three straight years, the government announced Wednesday. A child born last year can expect to make it to 78 years and 9 1/2 months — the same prediction made for the previous two years. In most of the years […]

Shorter Mitch McConnell: “Zero Social Security COLA Too Generous”

Way to rally the base Turtle Neck! NY Times: No Social Security Raises Even if Medicare Soars WASHINGTON — The 60 million people on Social Security will not receive any cost-of-living increase in their benefits in 2016, the government said Thursday, but because of a quirk in federal law, nearly one-third of Medicare beneficiaries could […]

Homo Oeconomicus vs Homo Socialis: The Anthropology of Neo-Classical Econ

I have been working (in my head) on a wonkish, fully cited, post on the fundamental fallacy embedded at the basis of neo-classical econ. But I am still engaged on reading the ur-texts (hint Karl Polanyi and a revisit to E.P. Thompson) so instead will just throw out my thesis and let the thoughtful critics […]

Libertarianism Simplified: the Three Proper Powers of Government

In your basic Austrian style Libertarianism Government only has three proper functions: External Defense, Internal Policing, and Enforcement of Contracts. Or we could simplify all that as: Protection of Private Property, Protection of Private Property, and Protection of Private Property. It really is that simple, at least once you define private beliefs and personal freedom […]

CBO Aug 7, 2015: Monthly Budget Review for July

Monthly Budget Review for July 2015 Bolding mine: The federal government’s budget deficit amounted to $463 billion for the first 10 months of fiscal year 2015, CBO estimates. That deficit was $2 billion larger than the one recorded during the same period last year. If not for shifts in the timing of certain payments (which […]