Congress should bite the bullet and raise the gas tax to fund highway repairs and construction, and it should make sure highway taxes are used for the roads, not to finance politicians’ pet projects and line union pockets.
Greece has committed to more austerity and arduous reforms to keep the euro, but success requires equally significant but unlikely changes from Germany.
The nuclear deal with Iran will unleash economic forces that make it unenforceable. Tehran will become the dominant economic and military power in the Middle East and, if it chooses, build nuclear weapons.
Prime Minister Tsipras has negotiated a third bailout for Greece with its Eurozone partners. The Greek Parliament should reject it, dump the euro and reintroduce the drachma.
Germany is using its size and wealth to compel its Eurozone partners to take a hard line toward Greece, but in the end, Germany has much to lose by forcing the Aegean nation to choose between more austerity and dumping the euro.
Sunday, Greeks should vote “No!”
Thursday, the Labor Department is expected to report the economy added 230,000 jobs in June. Hardly robust—monthly gains averaged 260,000 in 2014—but good enough to push the Federal Reserve to raise interest rates soon.
Greece and its principal creditors—the European Union, European Central Bank and International Monetary Fund—should acknowledge that Athens will never be able to repay the €131 billion it owes, write down its debt and let the Aegean nation exit the euro gracefully.
The Supreme Court ruling on King v. Burwell will soon decide whether the Affordable Care Act permits the federal government to subsidize health insurance premiums. Those should be struck down for both legal and economic reasons—and in simple fairness to most Americans who have found it makes no economic sense to buy health insurance through federal and state exchanges.
The ACA clearly states subsidies may only be paid to individuals who qualify on the basis of income, “through an Exchange established by the State.”
Greece will never be able to pay all it owes, and the sooner its principal creditors—the European Union, European Central Bank and International Monetary Fund—face reality, the better for everyone.
Federal Reserve policymakers meet Tuesday and Wednesday, and markets are looking for clues about when Chairwoman Yellen will raise short term interest rates. However, globalization makes that decision far less important for the economy and stock prices than in years past.
Congress should not grant President Obama authority to conclude another free trade agreement in Asia, because it would lower American wages and exacerbate income inequality.
Shaking off a severe winter and West Coast port strike, the Labor Department is expected to report the economy added 220,000 jobs in May. That’s well below the 269,000 monthly average for 2104, and a strong dollar, revived productivity growth and shortage of qualified workers will slow jobs creation going forward.
The strong dollar continues to drag down U.S. growth, complicating the Federal Reserve’s plans to raise interest rates and casting serious doubts on President Obama’s proposed free trade agreement with Asian nations.
The Federal Reserve is on track to raise interest rates later this year. Chairwoman Yellen has good reasons to push ahead, but she may not get very far in her quest to “normalize” rates.
Demonstrators bent on forcing McDonald’s to dramatically raise wages are doomed to fail, but their rage is well founded and inequality requires much better solutions than boosting the minimum wage.
President Obama has proclaimed Hillary Clinton an effective Secretary of State. All along, it must have been the plan for Russia to seize the eastern Ukraine, Beijing to build airstrips and assert sovereignty over international shipping lanes in the South China Sea, and Iran to have nuclear weapons capabilities.
Congress should impose tough conditions on President Obama’s request for authority to negotiate a free trade agreement with Pacific nations.
The economy added 223,000 jobs in April—well below the 260,000 averaged during 2014—pitching cold water on forecasts of stronger economic growth this spring and complicating Fed plans to raise interest rates.
Friday, the Labor Department is expected to report the economy added 220,000 jobs in April and push the Federal Reserve toward raising interest rates.
Tuesday, the Commerce Department is expected to report the March deficit on international trade in goods and services was $42 billion, up from $37.8 billion in February.
In this century, economic growth has averaged 1.9 percent per year—down from the 3.4 percent the prior two decades—and anemic growth is a major force squeezing wages, the middle class, and the working poor.
Federal Reserve policymakers meet Tuesday to consider when to raise interest rates, but the strong dollar and inflation risks put them between a rock and a hard place.
Investors in securities markets are now strongly betting the Federal Reserve won’t raise interest rates in June, but the million dollar question is will the Fed ever be able to raise interest rates again?