The Great Debate

The sham of Simpson-Bowles

By Rep. Jan Schakowsky
October 24, 2012

Erskine Bowles and former Senator Alan Simpson deserve some kind of medal for creating the widely held perception that their plan for reducing the deficit and debt is anything other than a bad proposal.

Key fiscal questions nominees must answer

By David M. Walker
October 19, 2012

 

We can only hope the final presidential debate Monday provides less heat and more light than the previous two. Especially with regard to fiscal matters, the debates have so far not provided the substance and solutions that voters need and deserve to hear.

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 fast track to a balanced budget

By Howell E. Jackson
February 8, 2012

The state of the union, fiscally speaking, is perilous. Despite record deficits and dire warnings from Europe as to the consequences of sustained fiscal imbalance, our leaders have been unable to find common ground. The Simpson-Bowles Commission in 2010, the Gang of Six last summer and the misnamed Super Committee of this past fall were all bipartisan efforts to cut through the Gordian knot of budgetary gridlock. And all of them failed. Miserably.

The Democrats’ opportunity in the supercommittee’s failure

By Nicholas Wapshott
November 8, 2011

By Nicholas Wapshott
All opinions expressed are his own.

Thanksgiving, I don’t have to remind you, marks the settling of irreconcilable differences between the early settlers and the original Americans, the burying of the hatchet, as it were, between Christians and heathens. If only this Thanksgiving marked the same.

from Reuters Money:

Fury brewing at ratings agencies as markets gyrate

August 9, 2011

Carnival revellers are silhouetted as they carry a burning wooden wagon in Liestal, near Basel, February 21, 2010.  REUTERS/Michael BuholzerSo let me get this straight.

Ratings agencies helped spark the financial meltdown of 2008-9, when they deemed that steaming piles of mortgage junk were brimming with triple-A goodness. They were wrong – and epically so.

from Reuters Money:

Deficit cutting need not be cruel

December 2, 2010

SPAIN-ECONOMY/Congress needn't be cruel to be kind in cutting the U.S. budget deficit while saving popular programs like Social Security and Medicare.

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 The Great Debate UK:

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.-

Eerie calm before Britain’s election

By J Saft
May 4, 2010

To look at sterling and gilts, you would hardly know that Britain is sailing into a general election which will likely deliver a weaker government with a diminished ability, if not will, to grapple with high debts, an uncertain role in the global economy and an aging population.