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

Don’t Torture the Constitution

The title is from a sign held up by those protestors during the appearance of Attorney General Gonzales at a Georgetown Law School Forum. Gonzales had earlier said on the Today Show that the standard under the Fourth Amendment is reasonableness, but check out what the text really says: The right of the people to […]

Will the Fed Overshoot?

We’re now in the final week of the 19-year long Greenspan Era. Overall, the period was marked by plenty of strong economic growth, two recessions that were among the mildest on record, and consistently moderate inflation that has gradually trended downward. But there’s also some fodder for criticism in the record of monetary policy under […]

Forecast Accuracy

How good are economists at forecasting economic variables? That will be the topic for discussion at this week’s Econoblog at WSJ.com (look for it late Wednesday or early Thursday). James Hamilton (co-author of Econbrowser) and I will be discussing some of the forecasting successes and failures of the economics profession, and their implications. As a […]

Colors (Mostly) Restored

By overwhelming popular demand the colors are now back to something similar to the original design. I used Firefox (as all right-thinking web surfers should do) when I was testing the layout. Viewed in Firefox, the blog is comprised of nice muted tones and the panels are evenly spaced. However, it doesn’t look nearly as […]

Bush’s Approval Ratings

UPDATE: Gallup reports: Many States Shift Democratic During 2005. For a map of the Gallup results, see my post: America Turning Blue. According to the American Research Group, Bush’s approval rating “Returns to Record Low“: George W. Bush’s overall job approval rating has returned to its lowest point in Bush’s presidency as Americans again turn […]

Health Care: Do Tax-based Subsidies Reduce Costs?

Kash has promised to spend a fair amount of time discussing the health care debate – a topic he assuredly knows far better than yours truly. My contribution to this debate is to toss out a query that has been bugging me for quite a while and this article by Peter Gosselin of the Los […]

Steve Antler Needs a Better Tutor than Stephen Moore

Unless there is some new math that really does say 1.08 divided by 131 equals 6%, Max Sawicky is having fun with Steve Antler. But his On Reaganomics and Supply-side is truly sad as he simply accepts the latest spin from the op-ed pages of the Wall Street Journal as evidence as to the following […]

Iran – Did Anyone Say Imminent Threat?

A week ago, Dean Baker wrote: The latest news about Iran should be very scary to anyone old enough to remember the 2002 elections. Those who lived in that distant time will remember a president slumping in the polls in the wake of a sinking economy and an accounting scandal that centered on his Texas […]

Medical Care Spending: How Big a Bite?

It should come as no surprise to anyone that, partly as a result of a persistently higher-than-average rate of inflation in medical care, consumers have been spending a larger and larger fraction of their income on medical care. So how much of household spending actually goes to health care? Well, that depends on whom you […]

Was Kevin Drum Too Timid to Call Karl Rove on His Latest BS?

Kevin points to the latest GOP attack on my party’s interest in national security – delivered by none other than Karl Rove: “The United States faces a ruthless enemy, and we need a commander in chief and a Congress who understand the nature of the threat and the gravity of the moment America finds itself […]