GIVEN the furor from both the left and the right, one would be tempted to think that the initial proposal from the co-chairmen of President Obama’s fiscal commission, Erskine Bowles and Alan Simpson, must offer an excellent starting point for a discussion of deficit reduction.
Commentary & Op-Eds
How Democrats and Republicans Can Break Our Foreign Oil Addiction Overnight
If we have learned anything from the failed energy policies of every
president since Richard Nixon, it is this: Reducing America's heavy oil
import dependence is easier said than done. However, if America truly
wants to return to its full potential economic growth rate, we must
significantly reduce that oil import dependence.
How Underwater Mortgages Can Float the Economy
Recent
calls for another federal stimulus package raise an important question:
Before considering costly short-term measures to raise overall consumer
demand, have we done enough to ensure that financial markets will work
properly and lead us to recovery?
Obama Discovers Incentives
The president's proposed tax cuts for business are a welcome departure from Keynesian stimulus. Earlier this week President Obama proposed tax cuts for business, including 100% expensing through 2011. In other words, firms that purchase new machines and other capital goods would be able to write them off immediately, instead of over many years.
Desperate Times Do Not Always Call For Desperate Measures
These seem like desperate times, particularly for incumbent politicians facing re-election. Here, we have an economy slowing once more below a 2% annual growth rate, even as the unemployment remains persistently high.