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

Frivolous Lawsuits: Spinning the Cost to Health Care

Several blogs have noted the sad state of the American press as far as challenging blatant lies from this Administration. Sadly No challenges President Bush’s claim that junk lawsuits costs our economy $230 billion per year and links to this, which draws from a number of sources including a statistical compilation by the National Association […]

Deficit Forecasting

I think the numbers in the previous post by Kash would look nice in graphical format. To reiterate, this graph shows the CBO’s projections for the cumulative deficit from 2004 to 2009, as projected in 1/03, 8/03, 1/04, and today. The final bar, labeled “Today (*)” adds $1 trillion to realistically, but conservatively, account for […]

Tax simplification as the cure to all ills

We are below full employment, real wages are falling, national savings is very low, and as Kash and AB note, projected deficits are as far as the eye can see. So what is the game plan for Bush’s second term – tax simplification as noted in his speech on 9/2: “The American people deserve and […]

More Broken Promises

The Bush administration has repeatedly vowed to acheive the very meager budgetary goal of “halving the deficit” in 5 years. Bush himself made such a promise in his state of the union address in January. Today the CBO released its mid-year update on the budget outlook for the next ten years. Here are the CBO’s […]

Total War?

… Political Total War, not total war in Iraq, that is. Let’s look at the facts: While the degree of the bounce is contentious, Bush got a real bounce in August (see also, here). The month of August, between the Swift Boat BS and the convention (Bush’s speech aside) was extremely negative, and conducted with […]

The Natural Employment-Population Ratio

This Labor Day weekend is a good time to discuss two ways of viewing the state of the U.S. labor market. The President’s reaction to the August employment report was to suggest that the fall in the unemployment rate was a sign of an improving labor market. But the unemployment rate is simply one minus […]

Bush’s Solution to Rising Health Care Costs

As has been pointed out here in several posts over the past few months (e.g., see here, here, and here), the rapidly rising cost of health care in the US is a large and growing problem. In his speech the other night, Bush reiterated his plan to get the rising cost of health care in […]

Stepford Voters Boo Clinton

Political Animal posts this from an AP story: President Bush on Friday wished Bill Clinton “best wishes for a swift and speedy recovery.” “He’s is in our thoughts and prayers,” Bush said at a campaign rally. Bush’s audience of thousands in West Allis, Wis., booed. Bush did nothing to stop them. In fairness, Kevin provides […]

A Distributional Analysis of the National Sales Tax

The Effects of Replacing Most Federal Taxes with a National Sales Tax A State-by-State Distributional Analysis by the Institute on Taxation and Economic Policy begins by quoting President Bush: You know, I’m not exactly sure how big the national sales tax is going to have to be, but it’s the kind of interesting idea that […]