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

CBO’s Long-Term Projections for Social Security: 2009 Update

by Bruce Webb Summary from Director’s Blog CBO’s Long-Term Projections for Social Security: 2009 UpdateFull Report: Long-Term Projections for Social Security: 2009 Update This newest report on the long-range health of Social Security shows a shape not much changed from last year’s but with some changes in the detailed dates and numbers. Per this report […]

Employment report follow up

By Spencer, Yesterday in describing the employment report I said: Moreover, the manufacturing work week rose from 39.5 to 39.8 hours and overtime hours were 2.9 hours versus 2.8 in the second quarter. Much of this was auto and confirms the other reports that at least auto output is rebounding. I was criticized and accused […]

How to be a Communist and a Fascist at the Same Time

by Bruce Webb Those of us with a passing knowledge of the development of Communism and Fascism within the larger context of the Popular Revolution vs Reaction tend to scratch our heads when people accuse Obama and his whole program of being both. After all in Europe, the historical cradle of each, the movements have […]

Can the U.S. Government do anything right ?

Robert Waldmann I hate to type that headline given the health care reform debate, but I am alarmed by Karen DeYoung’s article in the Washington Post about new efforts to get Afghans to stop producing opium — all new this time with carrots. The problem is that the price of wheat is too low. The […]

Clinton derangement syndrome

rdan Joe Conason of Salon gets this one right. Here was an effort that exemplified the best of America — a society that values the lives of its citizens enough to send a former head of state, with all the power of government behind him, to the aid of two women in distress. Here was […]

employment report

By Spencer, The employment report was very encouraging. Most importantly, aggregate hours worked were unchanged at 91.1 as compared to 104.1, 101.7 and 99.7 over the last three quarters. An unchanged reading is a massive improvement from the 8% to 9% rate of decline over the past three quarters. With positive productivity this impies that […]

Wyden’s Proposal for taxing oil and gas speculators

Ron Wyden, Democratic Senator from Oregon who serves on the Senate Finance Committee and the Energy Committee, is generally considered a liberal, though with a mixed bag of positions that hardly qualify on all grounds. He is against the estate tax and favors lowering rates of capital gains taxes, neither of which makes sense, from […]