Nearing agreement says NYT An administration official said that in the emerging deal, the “Making Work Pay” credit would be replaced with a one-year reduction in payroll taxes for workers. In addition to a two-year extension of the income tax rates enacted under President George W. Bush, the deal includes a one-year extension of jobless […]

The Financial Times reports this news: The US Supreme Court is to decide whether the largest class action employment lawsuit in US history can proceed against Walmart, the discount retailer, in a case that is being closely watched by other large corporate employers. Walmart appealed to the highest US court in the summer after a […]

by Tom aka Rusty Rustbelt Health Care: Really, Really Bad Idea(?)The Food and Drug Administration has approved a proposal to liberalize the guidelines for lap band weight loss surgery (much to the delight of the company making lap bans). Previous guidelines required a very high level of severe obesity OR severe obesity combined with hypertension […]

by Mike Kimel Ireland – The Questions Nobody Seems to be AskingCross-posted at the the Presimetrics blog. Talk about deja vu all over again. Here’s Tyler Cowen talking about the Ireland bailout, and linking to Megan McArdle discussing the same. Its deja vu, for me, because it seems just about everyone commenting on the issue […]

Robert Borosage writes a warning about when bipartisan elites come to a consensus on solving the “problem”. Today’s elite consensus — that deficits are at crisis levels, that budgets must be brought into balance immediately — is equally wrong-headed. It slights the real crisis we face, and is foreign to the spirit that made America […]

Revolving door continues. Citigroup (C) is rumored to be in advanced talks to hire Peter Orszag, who served as budget director for the Obama administration until he stepped down in July 2010. Sources said Orszag might take a job in Citi’s I-banking division and an announcement could come as soon as today. Citigroup, which is […]

Lifted from comments, by Cedric Regula, from the post on Stedwegg. I think I should add some historical context here since the econ news on the problem with the PIIGS is focusing only on “the problem is they can’t depreciate there own currency and make everything better”. Ten years ago the PIIGS and others were […]

by Linda Beale Friday Animations–Bush Tax Cutscrossposted with Ataxingmatter It might be worth reminding everbody about now that the Bush tax cuts were a poor idea even when they were first proposed. Like so much else done by the Bush administration (and pushed by the right generally), they amounted to yet another means of redistributing […]

By Noni Mausa The Opposite of Bankrupt Some time ago I wrote about dollars as bizarre IOUs, with no names,dates or specific obligations. They are free-floating promises, whichcan be used to command the efforts of the other people who accept themas valid. I give you ten promises, and you give me a sack of potatoes. […]

Well no there isn’t more under the fold. Let the creativity fly! Hmm proactive commenting! First Amendment bonanza!