My Reuters colleagues break the news that the White House is revising upward its ten-year budget forecast to $9 trillion from $7 trillion:
Things I am “wee weed up” (which I think means “agitated”) about: the long-term budget deficit, the Long Recession, the state of U.S. competitiveness, the cancellation of “The Sarah Connor Chronicles” (now and forever!), breaking my Kindle by putting my elbow on the screen and then leaning my full 205 pounds on my elbow (I mean, Amazon never said “not” to do that), Washington humidity, not being at Jackson Hole, health exchanges, the housing market, Rick Schroeder in “24” in season six (currently watching on DVD via NetFlix), my six-day summer cold, my commute which is even slower in the summer (something about “hot” rails, the Cubs falling out of the pennant race (now and forever, apparently) …
A good post on the healthcare debate from Alex Harris of the OpenMarket blog:
Any arguments about providing more entitlements somehow reducing the total amount of entitlements just don’t work. Insurance produces moral hazard. People overconsume goods they get for free on the margin. That’s Econ 101. The Democrats may have realized this and so proposed various cost-cutting measures, like panels to determine who gets care and who doesn’t.