SEPTEMBER 2, 2010 Summer of Economic Discontent The administration’s ‘summer of recovery’ has fizzled in almost every way imaginable. The growth rate is less than half what it was at this stage after the 1974-75 and 1981-82 recessions. By MICHAEL BOSKIN The Obama administration’s “summer of recovery” has morphed into a summer of economic discontent […]
OBAMA’S WEAK RECOVERY Read More »
AUGUST 31, 2010 TARP and the Continuing Problem of Toxic Assets It was a bold bet that the Treasury and Fed could engineer an economic recovery without allowing the repricing of U.S. housing stock. By ANDY KESSLER We should have eaten those toxic assets instead of sweeping them under the carpet. The Troubled Asset Relief
TARP AND ITS CONTINUING SAGA OF ECONOMIC WOES Read More »
AUGUST 27, 2010 Public Pensions and Our Fiscal Future Few Californians in the private sector have $1 million in savings, but that’s effectively the retirement account they guarantee to many government employees. By ARNOLD SCHWARZENEGGER Recently some critics have accused me of bullying state employees. Headlines in California papers this month have been screaming “Gov
SCHWARZENEGGER SPEAKS OUT ON CALIFORNIA FISCAL WOES Read More »
AUGUST 23, 2010 How States Hide Their Budget Deficits The SEC’s charges against New Jersey for misleading investors should warn other states against sweeping the truth under the rug. By STEVE MALANGA In April, the New York State Comptroller, Thomas DiNapoli, issued a damning report on the Empire State’s financial practices. Albany’s budgets, he observed,
FoxNews.com – August 24, 2010 More Bad Economic News, Yet Here Comes ANOTHER Wall Street Bailout Existing home sales in July may have suffered a record drop but come September 7, President Obama will have Wall Street investment banks lining up for another huge bailout. Americans may be extremely upset about Wall Street bailouts, but
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EDITORIAL: Democratic decline Bush-league blame game can’t hide the truth By THE WASHINGTON TIMES– August 10, 2010 ASSOCIATED PRESS House Speaker Nancy Pelosi, outside the White House on Thursday, calls for BP to stop making dividend payments to shareholders until it addresses economic assistance claims from businesses that have been affected by the oil spill.
DEMOCRATS CAN’T BLAME BUSH ANY LONGER Read More »
AUGUST 20, 2010 The SEC’s Jersey Score At last, a state gets hit for securities fraud. The movement to clean up state pension funds is gaining momentum, and the latest evidence is that even the Securities and Exchange Commission is getting in on the action. In the Wonders Never Cease Department, the SEC has scored
STATES’ VERSION OF A PONZI SCHEME Read More »
AUGUST 19, 2010 Unfunded Public Pensions—the Next Quagmire A federal bailout would cost trillions and prevent necessary reforms. But there are several ways states can rationalize their workers’ retirement benefits. By R. EDEN MARTIN The next big issue on the national political horizon may be whether the federal government should bail out the many budget-strapped
THE NEXT BAILOUT – UNFUNDED PENSIONS Read More »
AUGUST 19, 2010 Barney to Fannie: Drop Dead Wonder of wonders, miracle of miracles. Barney Frank has been all over the airwaves this week with a clear and—we never thought we’d say this—perfectly sound message about Fannie Mae and Freddie Mac: “They should be abolished.” Well, praise be. Two years ago next month, then Treasury
BARNEY FRANK HAS SEEN THE LIGHT! Read More »
AUGUST 15, 2010 The Next Pension Bailout New momentum to dump union retirement burdens on taxpayers. Congress is gone for August—heaven be praised—but that hasn’t stopped unions from quietly mobilizing to push through a big new priority this fall: a pension bailout. Big Labor is going Code Red on the issue, in the face of
BAILING OUT THE UNION’S MULTI-EMPLOYER PENSION PLANS Read More »
