We ran a piece today touching on the difficulty of fixing an economy broken by the bursting of something as large as the recent housing bubble. That is, if the inflated housing market allowed millions of Americans to leverage equity to buy things they couldn’t afford — and if More…
Is there an echo in here?
In The New York Times today, op-ed columnist David Brooks blasts the Democrats’ House-passed stimulus package with the charge that it doesn’t meet the “timely, targeted and temporary” criteria pushed by supporters:
In a fateful decision, Democratic leaders merged the temporary stimulus
With this morning’s news that employers laid off 524,000 workers in December, at least one prominent economist has some news of his own: “The economy is the jaws of a depression,” Peter Morici, a professor at the University of Maryland, wrote to reporters this morning.
What’s the criterion? Morici More…
It’s no mystery that the first item on the agenda when Congress returns to Washington next week will be an enormous spending package designed to create jobs and get the derailed economy back on track. The bill is expected to be in the range of $800 billion, and Democrats have More…
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