BAILOUT BILL: Good piece in Daily Caller by Sam Zamarippa on how financial reform extends TBTF. If financial reform fails, that will be a big reason.
BILLONS AND BILLIONS: Actually, make it $300 billion in outstanding bailout money, according to Pro Publica.
THE WAY FORWARD: Yet another insightful analysis by Nicole Gelinas on how to restructure the banking system.
VETTING A VAT: Brett Swanson tries to explain the WSJ’s editorial board position on a VAT. It is not so much that board hates a VAT (indeed a Hall-Rabushka VAT-like tax would be OK) but that it hates a VAT on top of the current tax system:
The Journal has always opposed a European style VAT on top of our current anti-growth tax code. The point is not that they hate a VAT conceptually. The point is that they don’t want the federal government’s share of the economy to grow dramatically from its already too-large and too-intrusive level. But I doubt the Journal is fundamentally opposed to a VAT-like levy under any circumstances . . . because as they surely know, it is in fact an efficient way to collect revenue.
VON RYAN’S EXPRESS: Kim Strassel outlines the Dem attack on Paul Ryan’s deficit reduction plan. She also pushes the GOP to fully embrace the plan. Well, someone should.
SICK SYSTEM: Philip Klein helpfully explains why Anthem’s health insurance rate hike makes the case for free market reform.