Lockheed-Boeing rocket JV feels competitive heat

May 25, 2016

Elon Musk’s SpaceX just broke the monopoly on military satellite launches enjoyed by the defense contractors’ alliance. Congress may help the pricey venture by allowing it to buy more sanctions-tainted Russian rocket engines. That’d be a strike against efficiency and innovation.

U.S. OK for IMF reforms could come just in time

December 17, 2015

Congress has wedged ratification of five-year-old changes into a deal to keep Washington running. The measures would give China and other emerging economies more say. With Venezuela one country that looks close to default, the IMF may soon need all the unity it can muster.

U.S. payroll tax fight shows faux fiscal restraint

February 14, 2012

Using seized mortgage backers Fannie Mae and Freddie Mac to fund a short extension of the tax cut was bad enough, but Congress is about to do worse. It’s ready to pay for another 10 months’ worth by adding $100 bln to the deficit. Politics and dogma are foiling needed discipline.

Gridlocked Congress might respond to docked pay

February 16, 2012

California now cuts lawmakers’ income if they don’t pass budgets on time. That could work in Washington, too, where a bill to the same effect was just introduced. As Wall Street knows, financial incentives are powerful. Many politicians would be loath to lose generous perks, too.