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

The Republican Leadership Declines ‘Pigou Club’ Membership

Tom Bozzo John “Don’t Say” Boehner makes (or should make) Greg Mankiw cry: Mr. Boehner likewise criticized Mr. Obama’s cap-and-trade emissions permits proposal, saying, “Cap-and-trade is code for increasing taxes and killing American jobs, and that’s the last thing we need to do during these troubled economic times.” As the NYT reports, the Obama budget […]

A Spoonful of Sugar and TARP Part 2

Tom Bozzo Reader Roger Senserrich listened to the Obama reply that also caught CR’s eye and sends a relatively favorable (to the administration) interpretation: Let´s see if it makes sense. 1. Obama says that America doesn´t nationalize; it is not something we do. That´s actually false; ask IndyMac or WaMu shareholders on what hit them. […]

Is Larry Summers an Infrastructure Spending Skeptic?

by Tom Bozzo whose Facebook status currently reads, “Tom is feeling an unaccustomed sense of not-shame, at least pending some action on the economics, energy/environment, and transportation fronts.” Meanwhile, over at FDL, they find Rep. Peter DeFazio saying: I think [Obama]’s ill-advised by Larry Summers.[*] Larry Summers hates infrastructure. And some of these other economists […]

Oberstar on ‘Use it or Lose It’ Stimulus Provisions

Tom Bozzo Via TrafficWorld: According to the House Transportation and Infrastructure Committee, 50 percent of funds provided to states will be required to be obligated within 90 days. Within 180 days of enactment, states must submit a program of projects outlining how the remaining 50 percent of the projects will be obligated within one year […]

Infrastructure Stimulus Amounts

Tom Bozzo Around election time, the House Transportation and Infrastructure Committee had identified $45 billion in ready-to-go infrastructure projects a stimulus package. Now TrafficWorld reports that the Committee now is looking at $85 billion: The recommendations, outlined in a Dec. 12 memo, include $30 billion for highways and bridges, $12 billion for transit, $4.9 billion […]

News Flash: Obama to Fulfill Campaign Promises!

Tom Bozzo is amazed at the reaction of leading figures in the left blogiverse to the W$J’s “news” that there will be tax cuts as part of the stimulus. See Aravosis, Digby, Krugman, Marshall. Can we cancel the circular firing squad? As far as I can tell from the Journal’s reporting, the main tax elements […]

The Best and the Brightest Meme — Eight Years Too Late?

Ken Houghton CR beat me to commenting on this Mankiw whine post, partially because I couldn’t think of anything reasonable to say about it. (CR could. That’s why he gets the big bucks.) But now that CR has done the heavy lifting, let’s look at the other aspect: Mankiw’s standard: Based a standard ranking of […]

Why Conservatives Hate Social Security

By Bruce Webb PGL raises and answers this question over at Econospeak Health Care Debate: So This is Why Conservatives Hate Social Security. Or rather he allows Conservatives in the person of Michael Cannon at Cato admit the fundamental truth: successful government social programs fatally undercut future political success for the Right. Cannon: Blocking Obama’s […]

Open Thread II: Treasury Boogaloo

Geithner it is. I guess we can pretend he’s not a Clinton administration alum. And he has the right experience: Though not an economist, Mr. Geithner has a deep understanding of monetary and fiscal policy and broad experience in international trade issues. Before the current crisis, he was involved in the bailouts of Mexico, Indonesia, […]