I always try to reserve space for at least one silver lining story. That’s been getting more and more difficult of late. Here’s what I could come up with today: carmakers and the White House have reached a deal on new fuel economy standards. The Obama administration is preparing to
Enterprising saviors of the Republic continue to look for ways out of the debt limit box, and here’s another one: the Treasury Department could simply go overdrawn at the Federal Reserve: This is nothing to do with the 14th Amendment or with coin seignorage — this is just the simple
Elizabeth Warren hinted at this last week when Richard Cordray was named as the nominee to run the Consumer Financial Protection Bureau, but now it’s official – she will leave her position as a counselor to Treasury and Assistant to the President on August 1. And rather than Cordray, the
We now have a CBO report on Harry Reid’s plan, and what once again sticks out is the extreme similarities with John Boehner’s. Remember that the Boehner plan had discretionary spending caps, a “Super Congress” committee to recommend deficit reduction, spending on program integrity for several programs, increases in Pell
The CBO report on John Boehner’s debt limit plan has really set back the effort and probably poisoned the entire enterprise among the more conservative members of his caucus. But it did provide some key information. First of all, take a look at CBO’s summary of the Boehner plan. It
How’s doomsday going in your neighborhood? • CBO gave a fairly poor assessment of the Boehner debt limit plan that gets a vote tomorrow, saying that it only reduces deficits $850 billion over ten years, from the March baseline. It reduces more based on January, but March is current law.