A conservative revolt on cutting taxes

By Cate Long
June 13, 2012

Voters and legislators in two very red states, Oklahoma and North Dakota, have recently defeated conservative initiatives to eliminate important taxes. Among some Republicans, there seems to be a realization of the need to pay taxes to fund essential services like schools and police and firemen, and of the need to find other sources of revenue once a given tax is repealed.

America’s only economic boom

By Cate Long
November 15, 2011

In an April 2008 study, the U.S. Geological Survey increased its estimates of the size of recoverable oil reserves in the Bakken Formation — an area stretching across Montana and North Dakota — by a factor of 25. The press release for the study said:

Operation Twist, or Operation Shout?

By Cate Long
September 22, 2011

Op Twist and demand

The Federal Reserve announced further efforts to stimulate the U.S. economy yesterday by reapportioning the maturity of the bonds in its $2.6 trillion portfolio. The operation has been dubbed “Operation Twist” because it twists the yield curve by raising short-term rates and lowering long-term rates. This is another attempt by the Fed to goose consumers into spending and borrowing at higher levels in the hopes that it will increase demand and get the national economic engine running at a higher speed. Reuters reports: