Some of the recommendations as outlined by TPM from the Pres. Obama’s Bowles and Simpson fiscal commission: Social Security cuts: Index the retirement age to longevity — i.e., increase the retirement age to qualify for Social Security — to age 69 by 2075. Index Social Security yearly increases to inflation rather than wages, which will […]

by Mike Kimel Post WW2 Private Investment v. New Deal Private InvestmentCross posted at the Presimetrics blog. I had a post the other day (which appeared at the Presimetrics blog and Angry Bear, and which was followed up by my fellow Angry Bear, Spencer, here) looking at a paper by David R. Henderson about the […]

A battle to keep using rare earths on our terms by Tim Worstall in The Register points to a facet of trade policy that would seem to demand some government action…I fail to see why trans-national companies would feel a need to act at least currently to implement more modern technology (or search for an […]

by Linda Beale David Cay Johnston on the Child-Care Credit crossposted with Ataxingmatter David Cay Johnston, former tax reporter for the New York Times, now does a column in the weekly Tax Notes called “Johnston’s Take.”  This week, he examines Alan Viard’s claim that the child-care credit is a boon for working parents.   Download Who […]

lifted from comments by spencer on Mike Kimel’s post Very bad economic theory (historiography) From Real Civilian GDP in July this year. From 1933 to 1950 real civilian GDP grew at a 5.6% growth rate even though it fell -18.4% and -14.8% in 1943 and 1944 — a decline about the same as the drop […]

I want to point to Linda Beale’s post with Naked Capitalism, where additional commentary is added from Yves Smith and a few others. Worth a visit for sure.

By Mike KimelCross posted at the Presimetrics blog. One of the enduring myths about the US economy, which like most such myths is used to support a lot of very bad economic theory, is the notion that there was some sort of big economic boom at the end of World War 2. Case in point: […]

Simon Johnson says it so I don’t have to: Paul Ryan is not a fiscal conservative… This is further confirmed by the following: 1. Paul Ryan’s main short-term suggestion in his FT piece today is: Cut taxes.  Anywhere else in the world you would be laughed out of the room for suggesting this as the […]

No transcript available at this time, but Rand Paul is all into symbolic votes and stomping his feet. (h/t Robert)

by Tom aka Rusty Rustbelt Health Care: The New, New Thing Hits a Snag The feds are starting to push “accountable care organizations” (ACOs) as a means of improving care while bending the cost curve, and providers appear eager to join the movement. Problem is, it appears ACO participants could violate general antitrust laws and […]