April 28, 2024

The Last of the Baby Boomers Are Turning 65, And…

Between now and 2030, nearly 30 million Americans born between 1959 and 1964 will turn 65, the tail end of the Baby Boom generation. As the largest cohort on record to reach retirement age, they are often called the “peak boomers.”  In a new study supported by the Alliance for Lifetime Income, my co-author Luke Stuttgen and I found that… Continue reading

May 13, 2009

The Courage and Cunning of the Administration’s Health Care Plans…

The administration’s new health care initiative has the distinctive “yes, but” quality of the Obama banking and housing plans: The focus is correct — here, address sharply-rising health care costs before moving on to guarantee universal coverage — even as the details fall and the proposed execution remains up-in-the-air. Let’s start by recognizing the political courage and cunning involved in…Continue reading

May 7, 2009

Efficient Markets and the Economic Meltdown

I found myself this week addressing the chairman of the SEC and three other commissioners at a forum on short sales, and the discussion illustrated how much the attitudes of some lag behind the realities of our current crisis. After the repeated meltdowns of numerous markets over the past year, the open minds at the forum belonged to the members…Continue reading

April 28, 2009

Administration Out on a Limb for GM — and for…

As Churchill famously said of democracy, the administration’s new plans for General Motors are a dismal idea, except for all of the alternatives. Under the plan, GM has to come up with a detailed strategy by June 1 that plausibly will allow it to survive and so receive nearly $12 billion more from the taxpayers, or file for bankruptcy. By…Continue reading

April 28, 2009

Administration Out on a Limb for GM — and for…

As Churchill famously said of democracy, the administration’s new plans for General Motors are a dismal idea, except for all of the alternatives. Under the plan, GM has to come up with a detailed strategy by June 1 that plausibly will allow it to survive and so receive nearly $12 billion more from the taxpayers, or file for bankruptcy. By…Continue reading

April 22, 2009

The Political Challenges We Face To Preserve the Earth

It’s Earth Day as I write this, and the challenges to preserve the Earth as we know it are momentous ones. The biggest and most obvious one is climate change, since it involves the most serious threat. Getting Congress to pass a plan that can reduce greenhouse gas emissions sufficiently to be meaningful will be a very tall order. The…Continue reading

April 16, 2009

How the Housing Crisis Can Change National Attitudes

The Great Depression deeply affected the attitudes of the generation that came of age in the 1920s and 1930s. For example, it made the country thriftier and more Democratic. It took two full generations for other social changes to turn us into a society that was more Republican and saved much less — shifts led, as before, by those who…Continue reading

April 9, 2009

Time to Face the Facts: The Economy Probably Won’t Get…

Brace yourself for a very anxious and stormy time, economically and politically, because there’s little prospect that the U.S. economy will improve for quite some time. The latest to weigh in is the Federal Reserve, whose new private forecast sees no growth in sight for the rest of this year and slow gains at best for 2010. The Fed always…Continue reading

April 1, 2009

Is Cap-and-Trade a Dead Policy Walking?

In his February 24 speech to Congress, President Obama asked members “to send me legislation that places a market-based cap on carbon pollution.” So, yesterday, House Energy and Commerce chair Henry Waxman took the first step by introducing his cap-and-trade plan. Yet sometimes, the political sands shift underneath a policy approach that was once viable, even embraced broadly, and its…Continue reading