The Great Debate UK

from Breakingviews:

Cameron takes deficit amnesia to a new level

October 1, 2014

By Ian Campbell

The author is a Reuters Breakingviews columnist. The opinions expressed are his own. 

from Reihan Salam:

Does Britain’s austerity hold lessons for the United States?

By Reihan Salam
January 4, 2013

The dog’s breakfast of a deal that “resolved” the fiscal cliff fell far short of expectations. In the hours after it passed, deficit hawks at the Committee for a Responsible Federal Budget and the tag team of former Senator Alan Simpson and former Clinton White House chief of Staff Erskine Bowles all expressed disappointment in a bargain that was anything but grand. Senate Republicans gritted their teeth to accept a small increase in taxes on America’s highest-earning households while Senate Democrats made permanent the bulk of the Bush-era tax cuts. A number of tax provisions that hark back to the 2009 fiscal stimulus law were extended, as were unemployment benefits, thus delivering a modest income boost to a large number of low-income households. But the Social Security payroll tax cut, a Republican-backed replacement for the more narrowly targeted Making Work Pay tax credit that was part of the stimulus law, which benefited a wide range of affluent households as well as families of more modest means, was allowed to lapse. Long-term spending levels, meanwhile, were left largely untouched, which is why rebellious House Republicans came close to scuttling the delicately constructed compromise.

from MacroScope:

The Law of Diminishing Greeks

April 13, 2012

The Law of Diminishing Returns  states that a continuing push towards a given goal tends to  decline in effectiveness after a certain amount of effort has been expended. If this weren't the case, Usain Bolt would be able to run the mile in  less than 2-1/2 minutes.

The U.S.’s big, fat political debt problem

April 19, 2011

USA-BUDGET/By Kathleen Brooks

The U.S. has practically zero chance of solving its debt problem in the foreseeable future while politicians line up to contest the 2012 Presidential elections.

George Osborne and the band-aid effect

March 22, 2011

BRITAIN-BUDGET/The second budget presented to Parliament by Chancellor George Osborne is likely to be less talking and more doing when it comes to bringing the UK’s public finances under control.

from The Great Debate:

Obama, Moses and exaggerated expectations

By Bernd Debusmann
October 25, 2010

-Bernd Debusmann is a Reuters columnist. The opinions expressed are his own-

President Barack Obama is close to the half-way mark of his presidential mandate, a good time for a brief look at health care, unemployment, war, the level of the oceans, the health of the planet, and America's image. They all featured in a 2008 Obama speech whose rhetoric soared to stratospheric heights.

from Global News Journal:

Ireland’s boasts come home to roost

October 1, 2010

Irish Finance Minister Brian Lenihan

Irish Finance Minister Brian Lenihan

Irish literature and legend is full of boasts, like the claim by Christy Mahon in Synge's "Playboy of the Western World" that he has killed his da with a loy (Irish for spade), only to have the old man track him down in another town.

EU stress tests: for banks or governments?

July 19, 2010

- Laurence Copeland is a professor of finance at Cardiff Business School. The opinions expressed are his own.-

Osborne’s book-balancing a risky venture

June 24, 2010

BRITAIN-BUDGET/

-Tony Cleaver is senior teaching fellow in Economics and Finance in the Durham University School of Economics, Finance and Business. The opinions expressed are his own.-

Roger Bootle analyses the potential impact of the budget

June 22, 2010

BRITAIN-BUDGET/

London-based Roger Bootle, director of Capital Economics and an advisor to business accountancy firm Deloitte, shares his thoughts on what Chancellor George Osborne’s budget may hold and its long-term effects on the economy.