James Pethokoukis

U.S. federal debt now bigger than entire U.S. economy

June 27, 2011

A scary chart from the Bank for International Settlements looking at the rise in government debt around the world since Lehman exploded:

Why the GOP shouldn’t go wobbly on taxes

June 27, 2011

It’s up to House Speaker John Boehner now. Democrats, the media and Wall Street will be pounding him to agree to raise taxes as part of a debt ceiling deal. But now is no time for Republicans to go wobbly. Here’s why the GOP should stick to its guns until Aug. 2 – and beyond if necessary:

Does Pelosi want a debt ceiling crisis?

June 27, 2011

After watching Nancy Pelosi on Sunday, Jonathan Chait speculates that she just might:

More evidence Medicare is a bad deal for younger Americans

June 27, 2011

A stunning table by healthcare economist John Goodman:

Goodman then explains why the twentysomethings take the hit:

No money has been saved. No investments have been made. No cash has been stashed away in bank vaults. Today’s payroll tax payments are being spent to pay medical bills for today’s retirees. And if any surplus materializes, it’s spent on other government programs. As a result, when today’s workers reach the eligibility age of 65, they will be able to get benefits only if future taxpayers pay (higher) taxes to support them.

Rep. Dave Camp battles the tax hikers

June 27, 2011

Great WSJ interview with House Ways and Means Chairman Dave Camp,  a Michigan Republican.  A few of the better bits (but please read it all):