Larry Summers Calls for More Stimulus

Funny how all the economists leaving the Obama administration seem to be saying the same thing: What, then, is to be done? This is no time for fatalism or for traditional political agendas. The central irony of financial crisis is that while it is caused by too much confidence, borrowing and lending, and spending, it [...]

Shovel-Ready Projects Watch

Man, if only we had a bunch of jobless construction workers: Shrinking budgets are forcing PennDOT to make a tough choice. Do they fix bad bridges or bumpy roads first? It’s a no win situation… New numbers from PennDOT show more bridges in our area are classified as “structurally deficient” in spite of a state [...]

Despite Democrats’ Best Efforts, the Public Agrees With Liberals On the Deficit

Two important polls came out this week showing Americans disagree with Republicans on the need for short-term spending cuts. First, Gallup finds that only a small minority of Americans think the budget deficit a more important problem than jobs or the economy. Nicolas Mendoza explains: A majority of Americans, fifty-five percent, have said that either [...]

Big Win for Small Biz on Interchange Fees

Annie Lowrey has the good news: Yesterday, something rare happened in Washington. Main Street beat Wall Street. Consumers beat lobbyists. Small business defeated big banks. Despite weeks of hyperbolic ad campaigns and a lobbying blitzkrieg, the Senate reaffirmed its decision to limit the “swipe fees” that banks charge businesses for debit card transactions, starting on [...]

Rentiers vs. Debtors

Paul Krugman says what’s really holding back the recovery is the fight between creditors and debtors. The reason the recovery can’t take off is that there’s a consensus in Washington on bleeding out debtors rather than making the creditors take a haircut. That’s why the banks that made the bad loans in the first place [...]

Charlie Dent Still Does Not Know What Is Wrong With the Economy

Can we finally dispense with the notion that Charlie Dent has any clue what to do about jobs? Here’s Dent on the terrible jobs report: “Certainly, I am disappointed the May employment figures reveal the economy is still struggling to recover. Sadly, I am not surprised by this news. Employers are naturally reluctant to hire [...]

How China Views Our Deficit

Ryan Avent says our Chinese overlords think the deficit should take a back seat to job creation, and Republicans need to stop screwing around and raise the debt ceiling: One thing seems clear: America’s government is making its economic road harder than it needs to be. Debt problems loom, but there is no immediate fiscal [...]