Overview for debt

And the Super Winners Are...

“Winners and Losers” headlines abounded after the Joint Select Committee on Deficit Reduction (JSC) whimpered to an end. One of the most interesting analyses was in The Hill , written by Bob Cusak, although we disagree with some of his picks. Here is our analysis. "and, the winner is…the …

Written by Steve Bell on Tuesday November 22, 2011

Will the Super Committee Act Out of Fear?

“Messiness” has been a prime characteristic of legislation since the days of Solon. So, the mess surrounding the operations of the Joint Select Committee on Deficit Reduction and Congress’ “work” on a jobs bill shouldn’t surprise anyone. What does always seem to surprise observers almost every …

Written by Steve Bell on Friday October 7, 2011

Is Daniels' Jobs Warning A Self-Fulfilling Prophecy?

I’ve been reading through Gov. Mitch Daniels' new book to see if he has anything to say about the current jobs crisis that America is in. The early results are a little disappointing. The first third of the book is focused on long term debt, the middle is focused on his time as governor, and the …

Written by Noah Kristula-Green on Tuesday September 20, 2011

Huntsman Goes All in For Ryan

While watching Jon Huntsman give his remarks on his jobs plan, I paid attention to how his speech described the existential threat of US debt. Huntsman made clear he supports a Balanced Budget Amendment because "our debt is immoral and should be unconstitutional." During a question-and-answer …

Written by Noah Kristula-Green on Thursday September 1, 2011

How to Profit From the Debt Apocalypse

Those inclined to speculate can buy credit default swaps on US debt. Warning: the price has already reached a record high, reports the FT.

Written by David Frum on Thursday July 28, 2011

How to Protect Your Finances in a Default

Six months ago I thought a federal default unthinkable. Default now seems all too sadly possible. How can individuals protect themselves from the economic consequences of a worst-case scenario? Some thoughts: In a default, cash will be worth less (because the dollar will plunge), and debt …

Written by David Frum on Tuesday July 26, 2011

Boehner Shows Leadership in Debt Negotiations

Boehner’s acknowledgement that a smaller debt deal makes sense seems to allow a path to avoid default and lets the GOP make the best of the politically disastrous decision to play with the debt limit. Let’s have some genuine applause for John Boehner’s leadership: his acknowledgement that a …

Written by Eli Lehrer on Monday July 11, 2011

Infrastructure Money Should Buy Us Things Worth Having

Future generations will look back in amazement at the 2009 stimulus and wonder: what exactly did America buy with all that money? Where are all the equivalents of the amazing things done in the 1930s? Larry Summers this weekend argued in favor of another round of stimulus, including: …

Written by David Frum on Tuesday June 14, 2011

Did Geithner Really Kill The Recovery?

The Left is focusing their ire on Treasury Secretary Geithner, accusing him of pushing austerity measures that have weakened the economic recovery. Zachary Goldfarb’s reporting in the Washington Post has revealed an important piece of information about why the economy is slowing down. Forget …

Written by Noah Kristula-Green on Thursday June 9, 2011

Does Pawlenty Have a Jobs Plan?

On Tuesday, Tim Pawlenty will unveil his economic policy. So far, he's focused on tackling the debt, but will his speech also have serious policies to spur job growth? On Tuesday, Tim Pawlenty will deliver his big economic policy speech in Chicago, promising a "specific plan for boosting the …

Written by Noah Kristula-Green on Monday June 6, 2011

GOP Running Out of Time to Win Debt Fight

The clean debt limit vote has predictably failed. But by wasting time on political games, the GOP may have run out of time to cut the long-term spending deal they want. The clean debt limit vote has predictably failed. Of course, it wasn’t the best conceivable option. A debt ceiling increase …

Written by Andrew Pavelyev on Wednesday June 1, 2011

A Debt Fight the GOP Can't Win

Fighting over the debt limit will end in a GOP defeat. The party should instead use its political capital to fight for serious entitlement reform. Congress’ rejection of a “clean” debt ceiling increase isn’t surprising and probably won’t have many short-term consequences. Largely because most …

Written by Eli Lehrer on Tuesday May 31, 2011

Want Big Budget Cuts? Weaken the Dollar

Republicans promise that rapid action to cut government spending will return us to prosperity. But their approach may not work if they also call for a strong dollar. Republicans promise that rapid action to cut government spending will lead to a quick return to prosperity. They have some …

Written by Tessa Berenson on Tuesday May 31, 2011

U.S. Can't Cut Its Way to Growth

Many countries have cut spending, reduced deficits and realized healthy economic growth. But there's a lot more that needs to happen for it to work in the U.S. In a recent blogpost debunking claims that reducing government spending always leads to a quick economic recovery, Frum Forum 's Noah …

Written by Eli Lehrer on Thursday May 26, 2011

GOP's Clean Debt Vote Won't Fool the Dems

If the GOP continues to substitute theatrics for substantive spending proposals the Dems will end up getting the debt ceiling increase and a lot of political capital. The House proposal for a "clean" debt vote is pure political theater. Given the way the House works, leadership almost never …

Written by Eli Lehrer on Tuesday May 24, 2011

A Treasury Fire Sale Won't Prevent Default

In a blogpost at NRO, Veronique de Rugy presses her claim that we can pay off America's debts without default or a debt limit rise. Unfortunately, it just won't work. Veronique de Rugy takes issue with my recent blogpost arguing that there isn't enough money to pay off America's debts without …

Written by Noah Kristula-Green on Friday May 20, 2011

If America Defaults, It’s Gonna Hurt

How painful would the cuts associated with default be? Well, they might be large enough to cause an economic downturn. In an earlier blog post today, I noted that despite conservative attempts to hide the fact, there isn’t enough tax revenue to pay for all the spending that would be needed …

Written by Noah Kristula-Green on Thursday May 19, 2011

Don't Be Fooled: Default Will Be Painful

Talking heads and think tank fellows are claiming that paying off America’s debts without default will be painless, but their numbers just don't add up. Conservatives, whether they are think tank fellows or radio hosts, share the same talking point: paying off America’s debt’s without default will …

Written by Noah Kristula-Green on Thursday May 19, 2011

Coburn Pulls the Plug on Senate Deficit Deal

The departure of Sen. Tom Coburn from the Gang of Six talks raises the odds that a significant fiscal deal won't be reached this year. As he looked down the dugout at his inept Mets, Manager Casey Stengel famously asked, “Can’t anybody around here play baseball?” The American people have a …

Written by Steve Bell on Wednesday May 18, 2011

Dump the Debt Ceiling

Congress shouldn’t increase the debt ceiling; instead it should just abolish it. The U.S. hit its debt ceiling this Monday. It’s time for Washington to stop the insanity and act responsibly. Congress shouldn’t increase the debt ceiling; instead it should just abolish it. Drive a stake through …

Written by Andrew Pavelyev on Monday May 16, 2011