January 23, 2018

A Non-Sexy Way to Cut Government Spending

Speculating on ways to save taxpayer money and curb the national debt has become a bit of a national pastime. The right wants to cut “entitlement spending” and the left has their sights set on defense and tax loopholes. Everyone agrees that we should do something. We’re stuck with lots of rhetoric, line drawing and politicians who largely maintain the status quo.

State and local governments are also slashing budgets and cutting back essential public services to save money. I would like to propose an idea that is not original and won’t solve the national debt. It’s simple, has been tried and tested and may even help our obesity epidemic. [cont…]

From the WSJ: “Republicans and Mediscare”

The reality is that Medicare “as we know it” will change because it must. The issue is how it will change, and, leaving aside this or that detail, the only alternatives are Mr. Ryan’s proposal to introduce market competition or Mr. Obama‘s plan for ever-tightening government controls on prices and care. Republicans who think they […]

While the world watches, the world’s largest debtor quibbles…

“The longer Congress fails to act, the more we risk that investors here and around the world will lose confidence in our ability to meet our commitments and our obligations,” Geithner said in a letter to congressional leaders. via Geithner warns U.S. to hit debt ceiling by May 16 | Reuters. Meanwhile, in Congress: A […]

Adding up the Federal Balance Sheet

Do you know your net worth? If you add up all your assets (cash, property, etc) and subtract all your liabilities (debts), do you know what you are worth? As a person, your net worth on paper doesn’t really account for your intangibles, like personality, education, or dashing good looks. Just your value if you sold […]

Is the recession over, or are there more bubbles?

Image via Wikipedia I’m reading “Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown” by Wiedemer, Wiedemer, and Spitzer. They claim to have seen the current recession coming before it happened, the result of the popping of various bubbles in our economy, including in the housing and credit markets. Interestingly, and perhaps most […]