Another Day, Another $3 Billion In Red Ink

August 7, 2012

Think four years of $1 trillion deficits is easy? It takes a Dream Team. A dream of high-speed rail doesn’t hurt, either.

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The President’s Plan Of Inaction

September 20, 2011

The president does not actually plan to raise taxes on the wealthy, which he could do with ease. He merely plans to talk about it.

Obama’s White House Party Is Winding Down

July 6, 2010

You know a party is winding down when the revelers start heading for the exits. Though a few true friends will stick around to help the host clean up the mess, most partiers prefer to be out the door before the music stops. This month’s planned departure of Peter Orszag, the White House budget director, is a sure sign that the good times are about to stop rolling for the …

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A Risk Premium For ‘Riskless’ Debt

March 26, 2010

For decades, finance professors have taught students that the interest rate on U.S. Treasury obligations reflects the cost of money for “riskless” obligations. Other borrowers’ riskiness could be measured by how much more than the Treasury rate they were required to pay. It is time to revise the lesson plan. Our national finances have deteriorated to the point that many corporate obligations are trading at lower yields than Treasury bonds. …

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