The next time someone tells you that “the banks need help,” just refer them to Barry Ritholtz: Talk about burying the lead: The Times also noted — in the very last paragraphs — how the big incompetent banks and their very pricey bailouts are screwing these small healthy banks: “Isn’t that the American way?” [Donald […]

In the matter of externalities, accusing political enemies of being terrorists even after they are cleared of all wrongdoing is a feature of having economic power.* Good thing it’s not being done by a country G-Mu dislikes, or we’d hear about this at Marginal Revolution. But they’re too busy arguing that the Greenspan Commission were […]

By Spencer The web is full of comments on the CBO projections of the Obama budget. So I though a slightly different analysis might be appreciated. Most bloggers are comparing the Obama budget to the Bush budget. But I suspect a comparison to the Reagan budget would be more meaningful in that both Obama and […]

Dear Philadelphia Inquirer, I also am a native of the City of Brotherly Love. The last two firms at which I have worked have lost billions of dollars. While I admit that—unlike your latest columnist—I am not responsible for that happening, I believe this qualifies me to write a monthly column for you. While I […]

The 2009 Report of the Trustees of Social Security released at 3 PM East Cost Time. File names have been updated and should work. If for some reason they are different you should be able to access the PDF and HTML versions or order the paper version at Reports from the Board of Trustees Entry […]

by cactus The End of a Recession… And Where We’re Going There seems to be some misunderstanding among most people about what constitutes the “end of a recession.” The end, or the trough, does not signify all is well, or even that everything is improving. The best description for the end of a recession comes […]

by Bruce Webb & Coberly (Update: links to Google versions of spreadsheets added. .xls versions available by request)The Northwest Plan is put forth here as a replacement for the plan of Nothing The Cost of Inactivity: ‘Nothing’ as a Plan for Social Security. Not that there is anything wrong with Nothing, we did nothing between […]

Via Brad DeLong, I see Time magazine has identified the “25 people to ‘blame’ for the financial crisis.” [my sarcastic quotes on blame; Time appears to be serious] Amazingly, none of TWX’s (mostly former) top management—who pushed LBOs in the 1980s and Internet bubbles in the 1990s—makes on the list. More amazingly, Lew Ranieri is […]

by Rusty (STR) The Great Tax Debate Employer-paid health insurance is usually a non-taxable benefit to the employee. IRC S106. Over the years this “loophole” has popped up in various discussions of tax fairness and expanding health care coverage. The Obama administration has floated various trial balloons, and Senator Baucus (D. Montana), an influential player […]

by Bruce Webb; plan details and numbers by Coberly and Arne The Northwest Plan takes as a starting point by answering the question raised in A Time for Clarity by coming down clearly on the side of the beneficiary. Which among other things means accepting that the current Trust Fund is an asset and not […]