Commentaries

Cleaning up the mess that remains

September 14, 2009

At least the Obama administration isn’t saying “Mission Accomplished.”

Obama urging Wall Street to do the right thing

September 14, 2009

In his speech, Obama emphasizes that big banks should take it upon themselves to give back to the community after the tax payer has done so much to put them on them on the road to recovery. While I agree with the point in theory, I’m not sure Wall Street is built to think about the moral imperative of creating a better society when it’s primary goal is to make money.

from Rolfe Winkler:

A healthcare failure could save Obama

September 9, 2009

The rising costs of Medicare and Medicaid threaten to destroy the nation's fiscal future, but President Obama is pushing for healthcare reform that would increase costs. Instead, he should refocus his presidency on paying down debt.true-national-debt-updated1

Why the U.S. needs a Value Added Tax

September 8, 2009

Swelling deficits and an aging population leave few palatable options when it comes to taxes.

Stones and glass houses, offshore tax haven edition

September 4, 2009

One of the week’s more amusing stories takes us to the sun-kissed shores of the Cayman Islands, scuba diver’s paradise,┬ámagnet for hedge funds and – until very recently – world-beating tax haven.

Debt on autopilot

August 28, 2009

At first glance this week’s budget projections paint President Obama as a spendthrift. The White House itself offered a grim glimpse of a future in which U.S. debt more than doubles to $17.5 trillion in a decade — an increase of nearly $10 trillion.

The mirage of U.S. healthcare

August 26, 2009

On healthcare, the White House is struggling with a political riptide that threatens to drag it into deep water.

Wall Street’s $4 trillion kitty

August 24, 2009

matthewgoldstein.jpgThe Obama administration’s plan for reining in derivatives leaves unchecked one of Wall Street’s dirty little secrets: the ability of a derivatives dealer to redeploy cash collateral that gets posted by one of its trading partners.

from Rolfe Winkler:

White House: 10-yr deficit now $9 trillion

August 21, 2009

Some breaking news from Reuters about an updated deficit projection:

The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.

The government’s foreclosure flop

August 12, 2009

The Obama administration has attacked the problem of rising home foreclosures with a humanitarian zeal. Their program — the most ambitious in generations — was intended to save up to four million people from being thrown out of their homes.