This ended up a longer post than I intended. I discuss current federal outlays and receipts and the debt limit. The sad fact is neither political party seem to treat the issue seriously.
Debt Limit Discussion, Radio Primer
Fiscal discipline for thee, but not for me
I rant a bit (alright a great deal) about the supposed notion of fiscal restraint and fiscal discipline in the U.S. today.
Is $2 Trillion Enough?
I have yet to see the actual text of the legislation but I am looking at the news reports of what is included and I have doubts this will be enough. It is good though to see, finally, a fiscal response from the federal government.
Continue reading Is $2 Trillion Enough?Capital gains and inflation are complicated
Sipping my coffee this morning and reading the paper about the proposed capital gains tax cut it struck me that this is a really big change with very unclear consequences.
The Gephardt Rule Returns
The House passed the Gephardt rule and essentially says they will not take two votes on every fiscal matter. Not a fiscal panacea but some return to adult behavior.