Reconciliation: How the Democrats Can Run the Table
Congressional Democrats will take office in January with the broadest mandate since the post-Watergate midterms in 1974—twice the popular-vote margin the Contract-with-America Republicans won in 1994. The work begins with dismantling most of what Donald Trump and his corrupt, incompetent administration have done over the past two years. Much of what Trump wrought came through his One Big Beautiful (sic)… Continue reading
Time for a Midcourse Correction in Economic Policy
The economic proposals unveiled this week by the Administration suggest that the President’s determination to target his policies for the long-term has led the White House to misread the economy today.  Allowing firms to deduct their capital investments in the year they occur instead of slowly depreciating those costs, and expanding the R&D tax credit and making it permanent are…Continue reading
Why the Value of Your House Moved Global Markets This…
This week’s housing news was a primer on globalization. U.S. existing home sales fell 27 percent in July, twice as sharp a drop as Wall Street analysts said to expect. (Of course, they’re the same geniuses who didn’t see their own meltdown coming; didn’t expect the long, deep recession that followed; and couldn’t figure out that the recovery would be…Continue reading
How to Remain the Number One Economy as China Ascends…
The news that China’s GDP will surpass Japan’s this year, making China the world’s number two economy, raises important issues for the United States.  There’s no prospect of China taking over the number one slot anytime soon: Even in our present shape, the United States will produce at least $14.3 trillion in goods and services this year, compared to China’s…Continue reading
Who’s Really to Blame for High Unemployment, and What to…
An economic slowdown is now here – one we repeatedly cautioned would come – so even the Federal Reserve is downgrading its forecast.  Alas, the United States isn’t alone.  The prospects for Europe look even worse, especially with their largest banks so heavily invested in the bonds of EU member countries still skirting the edge of sovereign debt defaults. And…Continue reading
Rebuilding a National Consensus for Economic Reform
The Washington politics around America’s economic policies has become dysfunctional. In Barack Obama’s first 18 months, the broad support for Democrats expressed in the 2006 and 2008 elections, the big congressional majorities they produced, and the public’s loud demand for change from the Bush era were enough to enact major stimulus, followed by health care and financial reforms. The full-throated…Continue reading
Jobless Benefits, Deficits, and the Art of Washington Compromise
The President will sign another $34 billion extension of unemployment benefits this week, and this is only the beginning of a debate almost certain to produce uncomfortable moments for both parties. For now, the Republicans have embraced the more shameless position. Their new talking points tell us that the economy cannot afford any new measures that would increase the deficit…Continue reading
The Economy is Slowing Down – Alas, Much as We…
Recent polls have left most Democrats discouraged, even if the loss of public confidence reflects economic weaknesses largely beyond their control. Americans these days seem to both blame President Obama for economic developments that were not his doing and discount his real accomplishments in other areas. It’s hardly a surprise that life in politics is unfair. The real misstep here…Continue reading
In Promoting Universal Broadband, Less Truly Is More
The right federal policy isn’t always hard to figure out. Take broadband. As broadband becomes an increasingly important factor in securing access to economic opportunities and public information, it’s obvious that the right public policy is to promote universal broadband service. Not only are most job openings today posted only online, so is most information about health care, government services,…Continue reading