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

Another Eyewitness, This Time With Pictures

From the Oregon Mail Tribune (wouldn’t it be nice if the NYT or WaPo could break one of these stories?): “He and another officer now say we weren’t under fire at that time,” [Robert] Lambert [a crew member on swift boat PCF-51 on the day in question, March 13, 1969] said Wednesday afternoon. “Well, I […]

Income and Poverty in the US

The Census Bureau has just released its annual estimates of poverty, income, and health insurance coverage for the US in 2003. Some of the highlights: Real median household income fell by .1%, from $43,381 to $43,318 between 2002 and 2003. By contrast, in 2000, real median household income was $44,853. Real household income has therefore […]

Add it Up: Bush Promises $3 Trillion More in Debt

Jonathan Weisman, writing in the Washington Post today, reports that Kerry’s plan won’t balance the budget. Sen. John F. Kerry’s pledge to reduce record federal budget deficits is colliding with an obstacle that may be growing higher by the week: his own campaign commitments. This is true enough. The credibility of Kerry’s pledge to cut […]

Robert Novak: Another Bush/Swift Link?

Ben Ginsberg’s resignation may be the big story as far as linkages between Bush-Cheney and the infamous Swift Boat liars. Brad Delong notes the sad tale of how Robert Dole will say anything to help Bush in this campaign. So what has been up with the fellow that Scooter Libby got to out a CIA […]

Bush outruns the Cleland wheelchair

Max Cleland wanted to personally deliver this letter to the President. Of course, George W. Bush is trying to avoid responsibility for the Swift Boat smears any way he can. I figured Bush’s running ability might allow him to stay ahead of Cleland in his wheelchair and it looks like I was right: (CNN) — […]

What’s Up With the Housing Market?

Has it peaked? Will it fall? Data on existing home sales in July was released yesterday by the National Association of Realtors. It showed a slight drop in sales, but still a very active market. From CBSMarketwatch: July’s drop was larger than expected. Economists had been expecting a decline to 6.85 million from the initial […]

Employment: DeLong v. Mankiw

Greg Mankiw’s Sunday New York Times oped is critically reviewed by Brad DeLong here. Mankiw tries to convince his readers that the unemployment rate is a better measure of the labor market than the payroll employment figure (interestingly both show we are worse off than when Bush took office). In a rather long disagreement with […]

Worldly Voters Prefer Kerry

According the a Zogby telephone poll from last week, “voters with active passports prefer Kerry 58% to 35%, while those without a passport are for Bush 48% to 39%.” Perhaps there’s some subtle interpretations of this finding: maybe passport holders are more common along the Canadian Border, and states like Washington, Minnesota, and Maine tend […]

I Want Six Weeks Vacation Too

I always enjoy reading Economic Reporting Review, which offers a dozen or so short, mild-mannered, critiques of economic reporting each Monday. Oh, after you’ve read it for a few years, it becomes a little repetitious, and you become a little tired of Dean Baker’s hobby horses, but it’s still well worth reading. This week’s issue […]

Social Security Privatization: An Irrelevance Proposition

Proponents of the Bush Social Security partial privatization plan wish to pretend there is some free lunch as if taking $10 out of the Social Security Trust Fund and placing it into private retirement accounts would turn the $10 bill into a $20 bill. Free lunch proposals are often based on flakey economics or bad […]