MedWorm provides a medical RSS filtering service. Over 6000 RSS medical sources are combined and output via different filters. This feed contains the latest medical blog items that have been tagged with 'economy,'. Tue, 04 May 2010 18:20:39 +0100 http://www.medworm.com/index.php?rid=3508170&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F8HNZ9mjg9tw%2F By Cato EditorsRecently, the Federal Reserve has significantly altered the procedures and goals that it had followed for decades. Rep. Ron Paul (R-TX) has introduced a bill calling for an audit of the Fed. Remarkably, there is significant opposition to such oversight, and the political prospects for undertaking such an audit are relatively bleak. In a new paper, Cato scholar Arnold Kling examines the processes and outcomes on which an audit should focus, and looks at opposition to the audit: We should document why the Fed took each step, what the expected results were, and whether those results were achieved. …The profit or loss of the Fed’s investments would provide a very helpful indicator of whether the Fed’s actions served the economy as a whole or merely transferred ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3508170 Tue, 27 Apr 2010 15:36:50 +0100 3508170 http://www.medworm.com/index.php?rid=3499061&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fp482CAov00A%2F By David BoazToday in Washington: actress Sigourney Weaver testifies before the  Subcommittee on Oceans, Atmosphere, Fisheries, and Coast Guard of the Senate Committee on Commerce, Science and Transportation Committee on the topic of ocean acidification. Because, you know, she played an environmental scientist in Avatar. It’s the best fit since Jane Fonda, Jessica Lange, and Sissy Spacek — all of whom had played farm women — testified on America’s agricultural crisis. Congress doesn’t have time to vote on presidential nominations. It doesn’t bother engaging in serious oversight of presidential power and civil liberties abuses. It looks at the ceiling and whistles as the national debt approaches Greek levels. But members of Congress have time to listen ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3499061 Thu, 22 Apr 2010 16:02:14 +0100 3499061 http://www.medworm.com/index.php?rid=3494510&cid=t_348415_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F04%2F21%2Fdemocrats-and-the-economy-its-always-happy-hour%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily. Democrats and the Economy: It’s Always Happy Hour. Filed under: Politics Daily Tagged: chaos theory, deficit, democrats, economy, national debt, political cartoon (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3494510 Wed, 21 Apr 2010 21:20:42 +0100 3494510 http://www.medworm.com/index.php?rid=3471773&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FZJX3Cujvcks%2F By Neal McCluskeyWe were warned. When Washington passed the so-called “stimulus” bill, with its tens-of-billions for K-12 education, we were warned that the money wouldn’t just provide a one-time infusion of supposedly economy-saving cash. No, it would furnish a towering new spending floor for already super-funded government schools and numerous other beneficiaries. Well here come the sky lifts again. According to Education Week, Senator Tom Harkin (D-IA) is pushing legislation that would pile $23 billion in new federal funding into education once the stimulus cash dries up. And this money — which, of course, we don’t actually have – is intended not only to protect the jobs of teachers and other staff, but add even more employees to the obscene j... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3471773 Wed, 14 Apr 2010 18:07:22 +0100 3471773 http://www.medworm.com/index.php?rid=3463576&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FGc3yNwm3Qa0%2F By Mark A. CalabriaThe extent to which government spending either complements or crowds out private investment has long been one of the most heated debates in economics (and politics).  Generally economic theorists posit that an increase in government spending drives up interest rates, which increases the cost of private investment, accordingly reducing such investment.  Most macroeconomic models are build on this relationship.  In an interesting new working paper, a trio of economists attack the question from a different angle.  They measure the impact of increased earmarks on the local economy receiving those earmarks, and compare the impact to areas not receiving the increased earmarks, which allows them to control for the overall macroeconomic environment.  Their finding: even in... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3463576 Tue, 13 Apr 2010 12:38:20 +0100 3463576 http://www.medworm.com/index.php?rid=3440775&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FejU82fKB-00%2F By Ilya ShapiroAs we enjoy the opening week of the new baseball season, we should reflect on the dastardly organization that spends too much money and raises the price of baseball for everyone. No, it’s not the New York Yankees: it’s the United States government. You see, as discussed in this recent New York Times op-ed, the price of baseball has increased all across the Major Leagues because of the tax write-off (read: subsidy) that businesses get to treat clients and employees to ball games: There are many reasons for the price explosion, but a critical factor has been the ability of businesses to write off tickets as entertainment expenses — essentially a huge, and wholly unnecessary, government subsidy. These deductions have led to higher ticket prices in two ways. On the demand... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3440775 Tue, 06 Apr 2010 12:35:21 +0100 3440775 http://www.medworm.com/index.php?rid=3424826&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FAnyLYO3C5J0%2F By Chris Moody John McCain channels Dick Cheney: On March 4, McCain introduced a bill that  “would require that anyone anywhere in the world, including American citizens, suspected of involvement in terrorism — including ‘material support’ (otherwise undefined) — can be imprisoned by the military on the authority of the president as commander in chief.” President Obama declared passage of a major student-aid reform law yesterday. Will it help? Cato education expert Neal McCluskey calls it a mixed bag. Thought experiment: Let’s say for a moment that Congress could actually repeal the health care overhaul. What should they put in its place? Should Congress pursue a constitutional amendment that would limit federal spending to one-fifth of the... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3424826 Wed, 31 Mar 2010 16:09:38 +0100 3424826 http://www.medworm.com/index.php?rid=3403862&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F7qokWFmTTM0%2F By Chris Moody Too bad no one saw this coming: Social Security is now in the red. Now that the health care bill is law, you should know exactly how it’s going to affect you, your premiums, and your coverage over the next few years. Here’s a helpful breakdown. As the health care overhaul crosses home plate, global warming legislation steps up to bat. Appreciate this: Chinese currency rise will have a negligible effect on the trade deficit. For more, read the whole paper. Podcast:  “A Plea for Divided Government” featuring John Samples, author of the forthcoming book The Struggle to Limit Government. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3403862 Thu, 25 Mar 2010 15:43:18 +0100 3403862 http://www.medworm.com/index.php?rid=3398877&cid=t_348415_87_f&fid=36050&url=http%3A%2F%2Fblisstree.com%2Flive%2Fwill-work-for-money%2F Tired of lounging on the sofa all day eating bonbons? Or perhaps you spend your days on hold waiting for a representative from the Department of Labor’s unemployment office to answer. Whatever the motivation, you should know which professions are actively hiring in today’s shaky economy. But you’ll have to do the rest – we can’t forcibly remove those bonbons from your grasp. Image: istockphoto According to a survey by Robert Half International and featured on Forbes, the legal arena is the best place to begin your job hunt. From administrative work to lucrative lawyering posts, many gigs are up for grabs. Not surprisingly, the legal world is bustling due to the overload of foreclosures and bankruptcies. If the thought of working at a law firm makes your skin crawl... Breastfeeding 1-2-3 blogs http://www.medworm.com/rss/comments.php?id=3398877 Wed, 24 Mar 2010 03:30:06 +0100 3398877 http://www.medworm.com/index.php?rid=3399035&cid=t_348415_117_f&fid=37824&url=http%3A%2F%2Fwww.doctorkalitenko.com%2Fblog%2Fgeneral-health%2Fhow-do-we-survive-economic-impact The outlook for 2010 is bleak. Homes will continue to be foreclosed, jobs will be lost, and less money will be flowing as compared to years past. Also inevitable: we will get another year older. Bad news, right? Not really! Though we may not be able to control the outside elements that affect our lives and the world around us, we can do something to make sure than in the survival of the fittest, we are, indeed, the fittest we can be. To thrive this year, we need to be better than we have been. We need to make sure that we take care of our bodies, our minds, and our relationships. We need to do something practical to help our situation: 1.    Eat better. The foods we eat not only give us essential vitamins, but help our bodies to function better, including vegetables, lean organic meats... Doctor Kalitenko antiaging blog blogs http://www.medworm.com/rss/comments.php?id=3399035 Tue, 23 Mar 2010 17:41:47 +0100 3399035 http://www.medworm.com/index.php?rid=3390818&cid=t_348415_109_f&fid=34786&url=http%3A%2F%2Fdrmichelletempest.blogspot.com%2F2010%2F03%2Fcountryside.html Today it has felt as if spring has arrived. In North West Durham we are lucky to have some of the most picturesque landscapes in Great Britain. However, this Labour government does not seem to have understood the rural communities nor rural issues. Professor Robert Huggins, who devised and compiled the UK Competitiveness Index, suggested that urban development has been at the expense of rural areas, stating that 'local economies in rural areas are suffering from declining competitiveness.' Perhaps it's not just time for a change of season, but also a time for a change in government. (Source: The Psychiatrist Blog) The Psychiatrist Blog blogs http://www.medworm.com/rss/comments.php?id=3390818 Sun, 21 Mar 2010 18:46:00 +0100 3390818 http://www.medworm.com/index.php?rid=3382796&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FT8OxLguD9zw%2F By Jim HarperWriting on the TechLiberationFront blog, Berin Szoka warns of the extensive Internet regulation that could come with huge grants of authority to the Federal Trade Commission in H.R. 4173, the “Wall Street Reform and Consumer Protection Act of 2009.” Congress is about to reinvent the FTC as the “National Nanny” it was well on its way to becoming back in the 1970s.  Today, the FTC is not merely the general overseer of our economy, but the key regulator of the Internet.  If the Senate passes Rep. Frank’s bill with its so-called “improvements” to the FTC Act, future generations will look back and wonder why, without even taking the time to consider what it was doing, Congress radically transformed Internet governance as an afterthought to financial regulat... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3382796 Fri, 19 Mar 2010 14:53:09 +0100 3382796 http://www.medworm.com/index.php?rid=3370398&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FyEAbPg2TBEY%2F By Chris EdwardsThe head of the federal Office of Personnel Management, John Berry, has become unhinged by a few recent critiques of federal worker pay. Berry is an Obama appointee who apparently views his role as being a one-sided lobbyist for worker interests, rather than a public servant balancing the interests of taxpayers and federal agencies. Here is an 11-minute audio interview with Berry on Federal News Radio on Friday, where he lashes out at USA Today, Washington Times, and the Cato Institute. Berry is defensive, emotional, and unwilling to accept that new data might indicate a possible problem with the underpaid federal worker thesis that is constantly pushed by the unions. What do I mean when I say he is unhinged? An investigation by the USA Today found that in 83 percent of 216... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3370398 Mon, 15 Mar 2010 20:42:09 +0100 3370398 http://www.medworm.com/index.php?rid=3350256&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F4X94fxr3RvI%2F By Tad DeHavenLast week, after Rep. Barney Frank (D-MA) said that holders of Fannie Mae and Freddie Mac’s debt shouldn’t be expected to be treated the same as holders of U.S. government debt, the U.S. Treasury took the “unusual” step of reiterating its commitment to back Fannie and Freddie’s debt. If ever there was case against allowing a few hundred men and women to micromanage the economy, this is it. Fannie and Freddie, which are under government control, are being used to help prop up the ailing housing market. If investors think there’s a chance Uncle Sam won’t back the mortgage giants’ debt, mortgage interest rates could rise and demand for housing dampen. Therefore, Frank’s comments caused a bit of a stir. However, with the government bailing out anything that walk... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3350256 Wed, 10 Mar 2010 15:28:59 +0100 3350256 http://www.medworm.com/index.php?rid=3346514&cid=t_348415_109_f&fid=34786&url=http%3A%2F%2Fdrmichelletempest.blogspot.com%2F2010%2F03%2Fengineering-excellence.html Sir James Dyson completed a report for David Cameron highlighting the importance of science to help diversify the economy. Dyson has called for more support for science teachers and tax breaks for high-tech firms to conduct research to encourage an economy where Britain designs, makes and sells.Among the report's key recommendations are greater financial and regulatory freedom for universities to promote investment in science and engineering, public-private institutes to help translate research into commercial opportunities and more generous tax relief for investors in start-up and established high-tech firms.David Cameron summarised "I think we have a choice where we go on as we are borrowing money from the Chinese to buy their products, or we can say 'no - wait - this is actually a count... The Psychiatrist Blog blogs http://www.medworm.com/rss/comments.php?id=3346514 Tue, 09 Mar 2010 16:05:00 +0100 3346514 http://www.medworm.com/index.php?rid=3346446&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F_2rkEyE6Yn4%2F By David Boaz“Michael Foot, a bookish intellectual and anti-nuclear campaigner who led Britain’s Labour Party to a disastrous defeat in 1983, died [March 3],” reported the Associated Press. He was 96. Foot personified the socialist tendency in the Labour Party, which Tony Blair successfully erased when he won power at the head of a business-friendly, interventionist “New Labour.” Yet Foot remained a respected, even revered, figure. “Michael Foot was a giant of the Labour movement, a man of passion, principle and outstanding commitment to the many causes he fought for,” Blair said Wednesday. Prime Minister Gordon Brown, Blair’s partner in creating “New Labour,” praised Foot as a “genuine British radical” and a “ma... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3346446 Mon, 08 Mar 2010 21:40:51 +0100 3346446 http://www.medworm.com/index.php?rid=3339774&cid=t_348415_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F03%2F07%2Fwhen-banks-go-bad%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily. When Banks Go Bad. Filed under: Politics Daily Tagged: chaos theory, economy, great depression, political cartoon, recession, wall street (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3339774 Sun, 07 Mar 2010 16:16:06 +0100 3339774 http://www.medworm.com/index.php?rid=3331536&cid=t_348415_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F03%2F04%2Foh-by-the-way-dr-obama-code-blue%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily. Oh, by the Way, Dr. Obama, CODE BLUE. Filed under: Politics Daily Tagged: chaos theory, economy, great depression II, health care reform, obama, political cartoon, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3331536 Thu, 04 Mar 2010 17:55:09 +0100 3331536 http://www.medworm.com/index.php?rid=3331275&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fu3lFBBg7i2M%2F By Chris Edwards1. Additional federal spending transfers resources from the more productive private sector to the less productive public sector of the economy. The bulk of federal spending goes toward subsidies and benefit payments, which generally do not enhance economic productivity. With lower productivity, average American incomes will fall. 2. As federal spending rises, it creates pressure to raise taxes now and in the future. Higher taxes reduce incentives for productive activities such as working, saving, investing, and starting businesses. Higher taxes also increase incentives to engage in unproductive activities such as tax avoidance. 3. Much federal spending is wasteful and many federal programs are mismanaged. Cost overruns, fraud and abuse, and other bureaucratic failures are e... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3331275 Wed, 03 Mar 2010 19:34:12 +0100 3331275 http://www.medworm.com/index.php?rid=3331276&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FPF4QysQiVgg%2F By Daniel J. MitchellFiscal crises have a predictable pattern. Step 1 occurs when the economy is prospering and tax revenues are growing faster than forecast. Step 2 is when politicians use the additional money to increase government spending. Step 3 is that politicians do not treat the extra tax revenue like a temporary windfall and budget accordingly.Instead, they adopt policies – more entitlements, more bureaucrats – that permanently expand the burden of the public sector. Step 4 occurs when the economy stumbles (in part because more resources are being diverted from the productive sector to the government) and tax revenues stagnate. If the resulting fiscal gap is large enough, as it is in places such as Greece and California, a crisis atmosphere is created. Step 5 takes pla... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3331276 Wed, 03 Mar 2010 18:53:29 +0100 3331276 http://www.medworm.com/index.php?rid=3306825&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F2MkyOnb5OyQ%2F By John SamplesThe Washington Post offers an instructive campaign finance story this morning. The essence of the story: employees of banks and brokerage houses contributed more to candidate Barack Obama in 2008 than to his rival John McCain. A lot more in fact: such employees gave almost twice as much to the current president at they did to the Arizona senator. Now, however, President Obama is attacking the banks and Wall Street for greed and selfishness, not to mention for ruining the economy. Moreover, Obama is proposing curbs on Wall Street pay and heavy regulation of banks. It would appear, in other words, that contributions don’t buy many favors with this administration. But the story goes deeper. Wall Street is now shifting its contributions to the GOP.  That’s not surpr... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3306825 Wed, 24 Feb 2010 20:46:17 +0100 3306825 http://www.medworm.com/index.php?rid=3302295&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FkCsNBMSpO9A%2F By Daniel J. MitchellLike the sequel to a horror film, the politicians in Washington are talking about just passed another stimulus proposal. Only this time, they’re calling it a “jobs bill” in hopes that a different name will yield a better result. But if past performance is any indicator of future results, this is bad news for taxpayers. By every possible measure, the first stimulus was a flop. But don’t take my word for it. Instead, look at what the White House said would happen. The Administration early last year said that doing nothing would mean an unemployment rate of nine percent. Spending $787 billion, they said, was necessary to keep the unemployment rate at eight percent instead. So what happened? As millions of Americans can painfully attest, the jobless rate actually c... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3302295 Wed, 24 Feb 2010 15:03:38 +0100 3302295 http://www.medworm.com/index.php?rid=3294567&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FJHLF_KdSQt0%2F By Chris Moody Progressives are outraged that the Supreme Court overturned limits on corporate political advertising last month. Here’s why they should be rejoicing. Policy forum today at Cato: “Will the Senate Health Care Bill Keep the Poor Poor?” Click here to watch live from 12:00-1:30 PM EST. Idea of the day: Cut the Commerce Department to boost real business. Harvard economist Jeffrey Miron: “Economists find weak or contradictory evidence that higher government spending spurs the economy. Substantial research, however, does find that tax cuts stimulate the economy and that fiscal adjustments—attempts to reduce deficits by raising taxes or lowering expenditure—work better when they focus on tax cuts.” Cato’s Ilya Shapiro wrapping up daily... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3294567 Mon, 22 Feb 2010 17:19:30 +0100 3294567 http://www.medworm.com/index.php?rid=3283519&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FNeVn2C_mCyo%2F By Neal McCluskeyWho said public schooling is all about the adults in the system and not the kids? Everyone knows it’s even more basic than that: Public schooling is a jobs program, pure and simple. At least, that’s what one can’t help but conclude as our little “stimulus” turns one-year old today. “State fiscal relief really has kept hundreds of thousands of teachers and firefighters and first responders on the job,” declared White House Council of Economic Advisers head Christina Romer today. Throwing almost $100 billion at education sure as heck ought to have kept teachers in their jobs, and the unemployment numbers suggest teachers have had a pretty good deal relative to the folks paying their salaries. While unemployment in “educati... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3283519 Wed, 17 Feb 2010 19:11:33 +0100 3283519 http://www.medworm.com/index.php?rid=3262606&cid=t_348415_87_f&fid=38368&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FDisruptiveWomenInHealthCare%2F%7E3%2Fu_-MtRoFi4o%2F One-third of Americans say they have received tests, treatment or medications they didn’t need, according to a survey conducted for the Commonwealth Fund of New York.  Are you one of them? Think about it.  We live in a market-driven economy where businesses thrive on getting us to consume more than we need, whether it’s a house that’s too big, a mortgage that’s unaffordable, or an investment that promises more than it can deliver.  Market-driven health care is motivated by the same imperative.  In our highly-caffeinated health care system, the mantra is volume, volume, volume.  That ‘volume’ is you and me, and the people we love. Here’s a story about a colleague, a research scientist, who has a heart condition that she watches very carefully. ... Disruptive Women in Health Care blogs http://www.medworm.com/rss/comments.php?id=3262606 Thu, 11 Feb 2010 13:21:46 +0100 3262606 http://www.medworm.com/index.php?rid=3262595&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FFiR9DbyeQCY%2F By Neal McCluskeyAs I have explained on numerous occasions, supporters of the Student Aid and Fiscal Responsibility Act (SAFRA) – which would end federal guaranteed student loans, turn everything into lending direct from Uncle Sam, and spend the resulting savings and way much more — have often shamelessly promoted the bill as a boon to taxpayers when it will almost certainly cost them tens-of-billions.  Where they have generally been right is in rebutting criticisms that SAFRA would be a federal takeover of a private industry. With lender profits all but assured under federal guaranteed lending, the vast majority of student loans haven’t been truly private for decades. Unfortunately, SAFRA advocates are just as clueless — or, more likely, rhetorically unbridle... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3262595 Wed, 10 Feb 2010 18:08:23 +0100 3262595 http://www.medworm.com/index.php?rid=3243773&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FHiods2JjYpo%2F By Daniel J. MitchellThe new budget from the White House contains all sorts of land mines for taxpayers, which is not surprising considering the President wants to extract another $1.3 trillion over the next ten years. While that’s a discouragingly big number, the details are even more frightening. Higher tax rates on investors and entrepreneurs will dampen incentives for productive behavior. Reinstating the death tax is both economically foolish and immoral. And higher taxes on companies almost surely is a recipe for fewer jobs and reduced competitiveness. The White House is specifically going after companies that compete in foreign markets. Under current law, the “foreign-source” income of multinationals is subject to tax by the IRS even though it already is subject to ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3243773 Thu, 04 Feb 2010 21:41:39 +0100 3243773 http://www.medworm.com/index.php?rid=3231452&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fd4QcrS6rXO8%2F By Chris EdwardsThe chart below shows federal spending in three component parts over the last five decades. It includes Obama’s proposed spending in 2011. Here are a few thoughts on the recent spending trends: Defense: In the post-9/11 years, defense spending bumped up to a higher plateau of around 4 percent of GDP. But now we have jumped to an even higher level of around 4.9 percent of GDP. Interest: The Federal Reserve’s easy money policies reduced federal interest payments in recent years. That is coming to an end. Obama’s budget shows that interest payments will start rising rapidly next year and hit 3 percent of GDP by 2015. And that’s an optimistic projection. Nondefense: This category includes all other federal spending. After a steady decline during... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3231452 Mon, 01 Feb 2010 22:05:55 +0100 3231452 http://www.medworm.com/index.php?rid=3231455&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FaP89vCC3svc%2F By Tad DeHavenExactly two years ago, George W. Bush released his final budget. Here’s what the Washington Post had to say: [T]he president’s budget envisions a big jump in the budget deficit, from $163 billion in 2007 to about $400 billion in 2008 and 2009. Much of that increase will be the result of a slowing economy and a stimulus package expected to cost about $150 billion. Today’s release of President Obama’s FY 2011 budget shows that those deficit prognostications were way off: Instead of a “big jump” to $400 billion in 2009, the actual deficit turned about to be a trillion dollars higher. Bush deserves most of the blame for that deficit, but the 2010 and 2011 deficits will be on Obama. The frightening prospect is that, like Bush, Obama’s future budget projections w... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3231455 Mon, 01 Feb 2010 21:05:37 +0100 3231455 http://www.medworm.com/index.php?rid=3220513&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FF0xgKacsWZY%2F By Andrew J. CoulsonYesterday, the president proposed yet another big increase in federal education spending. The Washington Post quoted ”senior White House officials” as saying that the spending would boost “the nation’s long-term economic health.” I sent the story’s authors a blog post laying out the evidence that higher government spending hasn’t raised student achievement, and that if you don’t boost achievement, you don’t accelerate economic growth. Today, there is an updated version of the original WaPo story. It no longer mentions the stated goal of the spending increase. It doesn’t mention that boosting gov’t spending has failed to raise achievement, and so will fail to help the economy. But it does cite a single ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3220513 Thu, 28 Jan 2010 18:17:25 +0100 3220513 http://www.medworm.com/index.php?rid=3220515&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FdC1O9e04uXY%2F By Cato EditorsCato experts put some of President Obama’s core State of the Union claims to the test. Here’s what they found. THE STIMULUS Obama’s claim: The plan that has made all of this possible, from the tax cuts to the jobs, is the Recovery Act. That’s right — the Recovery Act, also known as the Stimulus Bill. Economists on the left and the right say that this bill has helped saved jobs and avert disaster. Back in reality: At the outset of the economic downturn, Cato ran an ad in the nation’s largest newspapers in which more than 300 economists (Nobel laureates among them) signed a statement saying a massive government spending package was among the worst available options. Since then, Cato economists have published dozens of op-eds in major news outlets poking hol... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3220515 Thu, 28 Jan 2010 17:54:17 +0100 3220515 http://www.medworm.com/index.php?rid=3223468&cid=t_348415_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F01%2F27%2Fobamas-state-of-the-jungian%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily. Obama’s State of the Jungian. Posted in Politics Daily Tagged: chaos theory, economy, obama, political cartoon, recession, state of the union, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3223468 Wed, 27 Jan 2010 19:40:00 +0100 3223468 http://www.medworm.com/index.php?rid=3197610&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F46Mw8U1RmtU%2F By Daniel GriswoldThis has not been a good week for the national Democratic Party. Along with losing the Massachusetts Senate seat, the party took another step toward making hostility to trade liberalization a plank of party orthodoxy. As my Cato colleague Sallie James flagged earlier today, the Democratic Congressional Campaign Committee issued a press release yesterday criticizing a Republican candidate in upstate New York for contributing to the Cato Institute. And, of course, everyone knows that Cato is “a right wing extremist group that has long been a vocal advocate for extremist, unfair trade policies that would allow companies to ship American jobs overseas.” Among our sins, in the eyes of the DCCC, is that Cato research has supported tariff-reducing trade agreements, such as t... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3197610 Thu, 21 Jan 2010 21:23:51 +0100 3197610 http://www.medworm.com/index.php?rid=3171876&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FbUl0GoKWReI%2F By David BoazFormer secretary of state Madeleine K. Albright writes in Parade magazine that 20 years after the Berlin Wall, “We Must Keep Freedom Alive.” A commendable sentiment, but the article is a bit confused, notably in that it seems to use “freedom” and “democracy” interchangeably. But as Fareed Zakaria and Tom Palmer, among others, have demonstrated, they’re not the same thing. Freedom is the right and ability of individuals to make the important decisions about their lives. Democracy — especially constitutional democracy, with separation of powers, the rule of law, and constraints on government — can be the most effective way to protect liberty. But democracy isn’t liberty, and we shouldn’t confuse the relationship... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3171876 Thu, 14 Jan 2010 15:15:10 +0100 3171876 http://www.medworm.com/index.php?rid=3167090&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F6hNK1oMEAhA%2F By Daniel IkensonWhy blame only media and politicians for the public’s confusion about imports and trade deficits? Surely economists deserve some scorn. Some of the misunderstanding can be traced to the famous National Income Identity, which expresses gross domestic product, as: Y = C + G + I + (X-M). That is, national output (Y) equals personal consumption (C) plus government spending (G) plus investment (I) plus exports (X) minus imports (M). The expression clearly lends itself to the wrong interpretation. The minus sign preceding imports suggests a negative relationship with output. It is the reason for the oft-repeated fallacy that imports are a drag on growth. Here’s why that conclusion is wrong. The expression is an accounting identity, which “accounts” for all of the... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3167090 Wed, 13 Jan 2010 15:03:39 +0100 3167090 http://www.medworm.com/index.php?rid=3167091&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FQeZ2wnw7yrk%2F By Tad DeHavenThe board game Monopoly first took off during the Great Depression. A different game has become popular during today’s Great Recession. In this game, politicians race against high unemployment to create jobs in order to save their own. The players (politicians) have unlimited tax and borrowing authority, and can call upon friendly economists to help them maneuver. The players even get to keep score, although the media can penalize shoddy scorekeeping. Ultimately, voters will decide which players win and lose in the fall elections. Okay, I’m being facetious. But as politicians continue to throw trillions of dollars at the economy in a vain effort to create jobs, and the media continues to go along with it by obsessing over meaningless job counts, the entire spectacle has b... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3167091 Wed, 13 Jan 2010 13:50:01 +0100 3167091 http://www.medworm.com/index.php?rid=3153354&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FLE3EQtuGuQk%2F By Daniel GriswoldThe Center for American Progress and the Immigration Policy Center released a new study this morning that finds comprehensive immigration reform would boost the U.S. economy by $189 billion a year by 2019. The bottom-line results of the study are remarkably similar to those of a Cato study released last August. Titled “Raising the Floor for American Workers: the Economic Benefits of Comprehensive Immigration Reform,” the CAP study was authored by Dr. Raul Hinojosa-Ojeda of the University of California, Los Angeles. It finds that legalizing low-skilled immigration would boost U.S. gross domestic product by 0.84 percent by raising the productivity of immigrant workers and expanding activity throughout the economy. Using a different general-equilibrium model of the U.S. ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3153354 Thu, 07 Jan 2010 20:19:45 +0100 3153354 http://www.medworm.com/index.php?rid=3153355&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F9SAHBGsYaRw%2F By Thomas FireyWashington is fretting this week over news that mortgage applications fell dramatically in November. Coupled with earlier indications of renewed softening in the housing market, there is growing fear that housing is headed for a “double-dip downturn” that could further damage the economy. As a result, Federal Reserve policymakers are considering additional stimulus, while the National Association of Realtors is suggesting an(other) extension of the “temporary” homebuyer tax credit. Remarkably, neither policymakers nor the media are asking the obvious question: Given all of the emergency interventions in housing that government has undertaken, and the fact that the housing market continues to erode, do such interventions do much good? Since... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3153355 Thu, 07 Jan 2010 19:44:22 +0100 3153355 http://www.medworm.com/index.php?rid=3149034&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FtVv87lxdqr0%2F By Daniel GriswoldThree items in the news this week remind us why we should be glad we live in a more global economy. While American consumers remain cautious, American companies and workers are finding increasing opportunities in markets abroad: Sales of General Motors vehicles continue to slump in the United States, but they are surging in China. The company announced this week that sales in China of GM-branded cars and trucks were up 67 percent in 2009, to 1.8 million vehicles. If current trends continue, within a year or two GM will be selling more vehicles in China than in the United States. James Cameron’s 3-D movie spectacular “Avatar” just surpassed $1 billion in global box-office sales. Two-thirds of its revenue has come from abroad, with France, Germany, and Russia the lea... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3149034 Wed, 06 Jan 2010 19:02:52 +0100 3149034 http://www.medworm.com/index.php?rid=3111464&cid=t_348415_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2009%2F12%2F21%2Fmanaging-childrens-expectations-during-a-holiday-recession%2F This will not be a great Christmas for many families, due to another holiday season with the economy still in shambles. That is, if you believe that Christmas should be measured in the amount of gifts you give (or receive). And while most of us wouldn’t say we believe the number of gifts we give to our children is important, many still rely on quantity acting as some sort of indicator of parental worthiness. Psych Central writers have written before on this topic, doing Christmas on a budget and providing answers to people who believe simplifying during the holidays is just not possible. It is. And you should always set a budget for gift purchases every year (for all occasions, not just Christmas). “But what if that budget this year is smaller than in years past? Won’t m... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=3111464 Mon, 21 Dec 2009 18:00:22 +0100 3111464 http://www.medworm.com/index.php?rid=3104994&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F2M-FiGahb1g%2F By Chris Moody How to manufacture a climate consensus: “The East Anglia emails are just the tip of the iceberg.” Forecast for Copenhagen: “Cloudy with a chance of nothing.” A tale of how far modern “constitutional law” has taken us toward the executive state. How the president’s policies are holding back the economy: “Right now, the best thing Washington can do for our economy is to simply stop what it has been doing.” Podcast: “Liberty, Tradition and Values“ (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3104994 Fri, 18 Dec 2009 17:22:40 +0100 3104994 http://www.medworm.com/index.php?rid=3104996&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FSSVKuxXsqbI%2F By Roger PilonPolitico asks, “Was he convincing?” My response: In Copenhagen this morning, President Obama convinced only those who want to believe — of which, regrettably, there is no shortage.  Notice how he began, utterly without doubt:  “You would not be here unless you, like me, were convinced that this danger is real.  This is not fiction, this is science.”  The implicit certitude is no part of real science, of course.  But then the president, like the environmental zealots cheering him in Copenhagen, are not really interested in real science.  Theirs, ultimately, is a political agenda.  How else to explain the corruption of science that the East Anglia Climate Research email scandal has brought to light, and the efforts, presently, to dismiss the s... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3104996 Fri, 18 Dec 2009 16:49:18 +0100 3104996 http://www.medworm.com/index.php?rid=3096828&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FvG1MFG7RDvc%2F By Michael D. TannerPresident Obama gave what seems like his thousandth exclusive health care interview last night, this one to ABC News’s Charles Gibson.  In trying to sell his health care plan, the president warned that if Congress does not pass legislation controlling health care costs, the federal government “will go bankrupt.”  He also warned that unless health care is reformed, “your premiums will go up.”  The president is absolutely correct about that.  The only problem is that, according to the president’s own chief health care actuary, the bills that Congress is now considering do nothing to restrain either federal health care spending or total health care costs.  In fact, Rick Foster, chief actuary at the Center for Medicare and Medicaid Services (CMS) says that... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3096828 Thu, 17 Dec 2009 15:48:43 +0100 3096828 http://www.medworm.com/index.php?rid=3096841&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FsUITgFNxEJ8%2F By Edward H. CraneIn his ongoing effort to micromanage the U.S. economy President Obama used his Dec. 12 weekly radio address to promote his proposed Consumer Financial Protection Agency.  It will be filled with bureaucrats second-guessing entrepreneurs and is sure to improve the performance of our financial institutions — much in the manner of the SEC’s bureaucrats alertly nailing Bernie Madoff just 30 years into his Ponzi scheme.  Never mind that the federal government had much more to do with the financial meltdown than the banks did, the real knee-slapper in his address was his claim that the CFPA “would bring new transparency and accountability to the financial markets…” This, from a man demanding passage of a 2000-page health care reform bill that no one, incl... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3096841 Wed, 16 Dec 2009 16:59:23 +0100 3096841 http://www.medworm.com/index.php?rid=3096842&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FWYfBD0mISaA%2F By Daniel GriswoldThe good news is that a bill has been introduced in the House this week under the broad heading of immigration reform. Even during a recession, Congress should be working to change our immigration system to reflect the longer-term needs of our economy for foreign-born workers. The bad news is that the actual bill put in the hopper by Rep. Luis Gutierrez, D-IL, on Tuesday would do nothing to solve the related problems of illegal immigration and the long-term needs of our economy. As I argued in a recent blog post and a Washington Times op-ed, immigration reform must include expanded opportunities for legal immigration in the future through a temporary worker visa. Any so-called reform that is missing this third leg will be doomed to fail. We will simply be repeating the mi... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3096842 Wed, 16 Dec 2009 16:25:53 +0100 3096842 http://www.medworm.com/index.php?rid=3089509&cid=t_348415_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F12%2F14%2Fstill-have-cash-wall-street-wants-to-talk%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily. Still Have Cash? Wall Street Wants to Talk. Posted in Politics Daily Tagged: chaos theory, economy, gold bubble, meltdown, political cartoon, small investor, wall street (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3089509 Mon, 14 Dec 2009 18:30:11 +0100 3089509 http://www.medworm.com/index.php?rid=3082389&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FEhrIgHk52wE%2F By Andrei IllarionovAs the Copenhagen Climate Conference is taking place, it is appropriate to clarify once again what is more or less accurately known about the climate of our planet and about climate change. Obviously, a brief post can not substitute for detailed studies of professionals in a variety of scientific disciplines – climatology, atmospheric physics, chemistry, geology, astronomy, and economics. However, a short post can summarize basic theses on the main trends in climate evolution, on its forecasts, and on its actual and projected effects. 1. The Earth’s climate is constantly changing. The climate was changing in the past, is changing now and, obviously, will be changing in the future – as long as our planet exists. 2. Climatic changes are largely cyclical in nature. T... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3082389 Fri, 11 Dec 2009 22:33:41 +0100 3082389 http://www.medworm.com/index.php?rid=3079323&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FUKClRcE7WKw%2F By Chris EdwardsThe expansion in government and poor state of the economy got me thinking about how government growth is reflected in measured gross domestic product. So here is a wonky look at the treatment of government in the Bureau of Economic Analysis GDP data. Data notes: By “government,” I mean total federal, state, and local. For 2009, I’m using the average of second and third quarter data. All data from BEA Tables here. GDP measures total production. In 2009, government production was 20.7 percent of U.S. GDP.  Government production is roughly the sum of government value-added (the stuff it produces itself) and government purchases. The first item, government value-added, was 12.4 percent of GDP and mainly consists of employee compensation. For exampl... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3079323 Thu, 10 Dec 2009 19:37:11 +0100 3079323 http://www.medworm.com/index.php?rid=3075482&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FyR9ykOoEhQ8%2F By David BoazScary news today from Washington Post columnist Kathleen Parker: despite losing his reelection bid in 2006, former senator Rick Santorum is still thinking about running for president. He tells Parker that he represents the Ronald Reagan issue trinity: the economy, national security and social conservatism. And he’s the limited-government guy: Both pro-life and pro-traditional family, Santorum is an irritant to many. But he insists that such labels oversimplify. Being pro-life and pro-family ultimately mean being pro-limited government. When you have strong families and respect for life, he says, “the requirements of government are less. You can have lower taxes and limited government.” But Santorum is no Reaganite when it comes to freedom and limited governme... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3075482 Wed, 09 Dec 2009 17:45:29 +0100 3075482 http://www.medworm.com/index.php?rid=3071130&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FNZ7UqXUUQ-o%2F By Tad DeHavenHuge deficit spending, a supposed stimulus bill, and financial bailouts by the Bush administration failed to stave off a deep recession. President Obama continued his predecessor’s policies with an even bigger stimulus, which helped push the deficit over the unimaginable trillion dollar mark. Prosperity hasn’t returned, but the president is persistent in his interventionist beliefs. In his speech yesterday, he told the country that we must “spend our way out of this recession.” While a dedicated segment of the intelligentsia continues to believe in simplistic Kindergarten Keynesianism, average Americans are increasingly leery. Businesses and entrepreneurs are hesitant to invest and hire because of the uncertainty surrounding the President’s agenda for higher... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3071130 Wed, 09 Dec 2009 16:04:42 +0100 3071130 http://www.medworm.com/index.php?rid=3071137&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F0Ro4uvhCvlk%2F By Ilya ShapiroMany law firms are asking their incoming first-year associates to defer their start dates (from a few months to a full year) and are offering stipends to these deferred associates to work at public interest organizations. Cato has been running a deferred associates program for the last few months and we are now extending it for as long as top-notch candidates want to ride out the economy with us. The Cato Institute invites third-year law students and others facing firm deferrals to apply to work at our Center for Constitutional Studies. This is an opportunity to assist projects ranging from Supreme Court amicus briefs to policy papers to the Cato Supreme Court Review. Start and end dates are flexible. Interested students and graduates should email a cover letter, resume, tra... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3071137 Wed, 09 Dec 2009 13:35:19 +0100 3071137 http://www.medworm.com/index.php?rid=3067013&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FyefUWEV1P1c%2F By Patrick J. Michaels25,000 bureaucrats, factota, hangers on, and representatives of various environmental organizations have just converged on Copehagen for the UN’s latest “Conference of the Parties (COP) to its infamous 1992 climate treaty. Expect a lot of heat, not much light, and a punt right into our next election. President Obama says that the US will agree to a “politically binding” reduction of our emissions of carbon dioxide to a mere 17% of 2005 levels by 2050. This will allow the average American the carbon dioxide emission of the average citizen in 1867. Obama’s pronouncement has stepped all over the toes of the US Senate, which really doesn’t want to vote on similar legislation this election year. Jim Webb, a democrat heretofore very loyal to the President recent... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3067013 Tue, 08 Dec 2009 04:01:37 +0100 3067013 http://www.medworm.com/index.php?rid=3056617&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FP1wbE-cyLCA%2F That is one of the conclusions in my new paper, “Made on Earth: How Global Economic Integration Renders Trade Policy Obsolete.” For hundreds of years, trade policy has been premised on the assumptions that exports are good, imports are bad, and the interests of domestic producers are tantamount to the “national interest.” Though that mercantilist worldview has never been accurate, its persistence as a pillar of trade policy into the 21st century is especially confounding given the emergence and proliferation of disaggregated production processes, transnational supply chains, and cross-border investment. Those trends have blurred any meaningful distinctions between “our” producers and “their” producers and speak to a long chain of interdepende... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3056617 Thu, 03 Dec 2009 20:57:28 +0100 3056617 http://www.medworm.com/index.php?rid=3026924&cid=t_348415_158_f&fid=36018&url=http%3A%2F%2Fcaregiversbeacon.blogspot.com%2F2009%2F11%2Flife-of-senior-small-business-owners.html From thrift shop owners to RV park manager/owners, seniors who are small business owners balance the challenges of innovation to keep pace with change along with the doctor visits and health issues that come with the senior territory.Many seniors are still managing successful small businesses. Staying afloat in the present economy means inventing new strategies that are situation specific for the current times. Many seniors enjoy the independence and challenges of owning their small businesses, instead of retiring or working for someone else.One 93 year old woman I met was still going over to do maintenance tasks at the apartment building she owned and managed for college students' housing. She would arrive to visit with the student renters who might be around, change light bulbs or fix ga... The Caregiver's Beacon - Resources, Links, Ideas, News blogs http://www.medworm.com/rss/comments.php?id=3026924 Wed, 25 Nov 2009 01:56:00 +0100 3026924 http://www.medworm.com/index.php?rid=3023100&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FrshhO2-EQSg%2F Three decades of politics and failed policies at HUD. Michael D. Tanner on the Senate Sell-Outs: “At a time of 10.2 percent unemployment, they voted to make it more expensive to hire workers, especially low-wage workers. With the economy struggling, they voted for $485 billion in tax hikes. They voted to raise the payroll tax, limit your flexible spending account, and tax your health insurance plan. This is moderation?” The limits of U.S. power in Afghanistan: “Even if more troops were better deployed, the odds of reasonable success in reasonable time at reasonable cost are long.” Republican and Democratic senators pushing for subsidizing prayer. In Washington next week? Tom Palmer will be here Tuesday, Dec. 1 to discuss his new book, Realizing Freedom. Can&... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3023100 Mon, 23 Nov 2009 20:38:41 +0100 3023100 http://www.medworm.com/index.php?rid=3015270&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F6xiawI6-at4%2F In a recent Washington Post op-ed, Professor Joseph Gyourko, chair of the Wharton School’s Real Estate Department, lists what he sees as the five biggest myths about homeownership. Given the central role of federal housing policy, particularly Fannie Mae and Freddie Mac, in our recent financial crisis, it is worth following Professor Gyourko’s suggestion and question whether a national policy of ownership, all the time for everyone, really makes sense. Professor Gyourko’s five myths: 1.  Housing is a great long-term investment. 2.  The homebuyer tax credit makes buying a house more affordable. 3.  Homeowners are better citizens. 4.  It’s safe to buy a house with a very low downpayment. 5.  Owning is always cheaper than renting. You’ll have to read the op-... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3015270 Fri, 20 Nov 2009 21:02:41 +0100 3015270 http://www.medworm.com/index.php?rid=2984775&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F9WriRdpMVHE%2F This report is a small illustration of the fundamental problems with the federal government subsidizing local governments. The local public housing agencies are supposed to be monitoring how money is spent and reporting to HUD. HUD is supposed to be monitoring the local public housing agencies. But no one does a very good monitoring job, despite the piles of regulations and paperwork that every level of government has to deal with for such subsidies. The muddled web of responsibilities also makes it easy for fraud artists to take advantage. Last week, HUD’s IG reported that the department is sending $220 million in stimulus funds to local agencies already known to misspend taxpayer dollars. From USA Today: The government is sending millions of dollars in stimulus aid to communities and h... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2984775 Thu, 12 Nov 2009 14:27:20 +0100 2984775 http://www.medworm.com/index.php?rid=2984779&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FUPeuK9WidMo%2F Today’s episode of “Hagar the Horrible” could be an epigraph for the new Fall 2009 issue of Cato Journal. This issue includes Greek economists Michael Mitsopoulos and Theodore Pelagidis on “Vikings in Greece: Kleptocratic Interest Groups in a Closed, Rent-Seeking Economy” as well as Peter Leeson, author of The Invisible Hook: The Hidden Economics of Pirates, writing (with David Skarbek) on the effects of foreign aid. As for taxes, well, editor Jim Dorn has assembled a number of useful papers: Andrew T. Young on taxing, spending, and “fiscal illusion” Michael J. New on the “starve the beast” hypothesis Alan Reynolds on Paul Krugman’s misunderstanding of the monetary and fiscal lessons of the Great Depression and Japan’s l... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2984779 Wed, 11 Nov 2009 19:44:22 +0100 2984779 http://www.medworm.com/index.php?rid=2981058&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FqX9P6h_jem8%2F Import competition can throw Americans out of work. Even advocates of free trade like me will readily acknowledge that fact. And nobody needs to remind the people of Hickory, North Carolina. On the front page of the Washington Post this morning, under the headline, “In N.C., damage not easily mended: Globalization drives unemployment to 15% in one corner of state,” the paper reports in detail how the people of that community are struggling to adjust to a more open U.S. economy: The region has lost more of its jobs to international competition than just about anywhere else in the nation, according to federal trade-assistance statistics, as textile mills have closed, furniture factories have dwindled and even the fiber-optic plants have undergone mass layoffs. The unemployment rate is on... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2981058 Tue, 10 Nov 2009 20:35:09 +0100 2981058 http://www.medworm.com/index.php?rid=2943764&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fc_AVM17vP68%2F The bad news this morning on the impact of both the federal stimulus and the Cash for Clunkers program should not come as a surprise to anyone who has paid attention to the history of government intervention in the economy. New data that the jobs created by the stimulus have been overstated by thousands is compelling, but it’s really a secondary issue. The primary issue is that the government cannot “create” anything without hurting something else. To “create” jobs, the government must first extract wealth from the economy via taxation, or raise the money by issuing debt. Regardless of whether the burden is borne by present or future taxpayers, the result is the same: job creation and economic growth are inhibited. At the same time the government is taking und... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2943764 Thu, 29 Oct 2009 19:05:37 +0100 2943764 http://www.medworm.com/index.php?rid=2943765&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FJ08j1EAl2cE%2F According to a Washington Post story today, “the weak dollar is one problem the United States loves to have.” The story reports how the fall of the dollar against the euro and other currencies in the past year has boosted U.S. exports and discouraged imports, cutting the trade deficit and allegedly boosting the U.S. economy. A weaker dollar has spurred complaints in Europe and elsewhere, but here at home the Post story leaves the impression the approval is practically unanimous. Nowhere in the 1,058-word story is the impact on consumers ever mentioned. But it is American consumers who pay the biggest price when the dollars we earn buy less on global markets. We are paying more for oil, which not coincidentally has zoomed toward $80 as the dollar flounders. A weaker dollar means higher ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2943765 Thu, 29 Oct 2009 18:56:31 +0100 2943765 http://www.medworm.com/index.php?rid=2916081&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FziYjmUwKyB8%2F According to reports, executives from bailed out companies Citigroup, Bank of America, GM, Chrysler, GMAC, Chrysler Financial and AIG are going to see major pay cuts this year, which will be enforced by the president’s “pay czar,” Kenneth R. Feinberg. WaPo: NEW YORK — The Obama administration plans to order companies that have received exceptionally large amounts of bailout money from the government to slash compensation for their highest-paid executives by about half on average, according to people familiar with the long-awaited decision. The administration will also curtail many corporate perks, including the use of corporate jets for personal travel, chauffeured drivers and country club fee reimbursement, people familiar with the matter have said. Individual per... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2916081 Thu, 22 Oct 2009 14:30:50 +0100 2916081 http://www.medworm.com/index.php?rid=2905073&cid=t_348415_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F10%2F19%2Fchaos-theory-the-bonus-on-wall-street-nothing-could-stop-it%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily: The Bonus on Wall Street: Nothing Could Stop It! Posted in Politics Daily Tagged: bailout, bank, economy, political cartoon, wall street bonus (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=2905073 Mon, 19 Oct 2009 14:52:35 +0100 2905073 http://www.medworm.com/index.php?rid=2898998&cid=t_348415_109_f&fid=34699&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2Fscienceblogs%2FvjmG%2F%7E3%2Fp-5bQ4E1NFQ%2Fk_street_remains_the_fourth_br.php Just goes to show how lobbying reform hasn't gone anywhere near far enough: Bank Lobbyists Are Not Only Trying to Kill NEW Legislation, They Are Trying to Weaken EXISTING Regulations By George Washington of Washington's Blog. Everyone knows that the lobbyists for the financial giants are trying to kill any tough new regulations. But they are also trying to weaken existing regulations. Specifically, Robert Borosage notes:     The [derivatives] bill that the House will consider on Wednesday creates a clearinghouse, not a publicly managed exchange. It also allows banks to decide that a deal is so unique that it needn't be posted on the clearinghouse. The best experts in the field -- like Michael Greenberger of the University of Maryland -- warn that the legislation might ... The Corpus Callosum blogs http://www.medworm.com/rss/comments.php?id=2898998 Fri, 16 Oct 2009 12:47:43 +0100 2898998 http://www.medworm.com/index.php?rid=2898927&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FsOTk-fBoGcU%2F Social Security benefits are indexed for inflation, but because inflation has been roughly zero for the past year, the adjustment formula implies no increase in benefits this year. Nevertheless, President Obama on Wednesday attempted to preempt the announcement that Social Security recipients will not get an increase in their benefit checks for the first time in three decades, encouraging Congress to provide a one-time payment of $250 to help seniors and disabled Americans weather the recession. Obama endorsed the idea, which is expected to cost at least $13 billion, as the administration gropes for ways to sustain an apparent economic rebound without the kind of massive spending package that critics could label a second stimulus act. This is outrageous on four levels: 1. If the president ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2898927 Thu, 15 Oct 2009 16:34:58 +0100 2898927 http://www.medworm.com/index.php?rid=2890897&cid=t_348415_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F10%2F13%2Fchaos-theory-the-house-and-senate-always-wins%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily: The House – and Senate – Always Wins. Posted in Politcal Cartoons, Politics Tagged: congress, corruption, economy, house, senate (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=2890897 Tue, 13 Oct 2009 18:46:28 +0100 2890897 http://www.medworm.com/index.php?rid=2886418&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FqU-D-xKXTAk%2F Perhaps the worst feature of the bailouts and the stimulus has been that, whatever their merits as short terms fixes, they have done nothing to improve economic policy over the long haul; indeed, they compound past mistakes. Here is a good example: For months, troubled homeowners seeking to lower their mortgage payments under a federal plan have complained about bureaucratic bungling, ceaseless frustration and confusion. On Thursday, the Obama administration declared that the $75 billion program is finally providing broad relief after it pressured mortgage companies to move faster to modify more loans. Five hundred thousand troubled homeowners have had their loan payments lowered on a trial basis under the Making Home Affordable Program. The crucial words in the story are “$75 billio... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2886418 Mon, 12 Oct 2009 17:35:51 +0100 2886418 http://www.medworm.com/index.php?rid=2876019&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FFnqkMAr70nY%2F Speaking recently a Steamboat Institute conference, I explain that big government is America’s fiscal challenge, not whether the spending is financed with taxes or borrowing.   This issue is important because the statists are trying to create the conditions for a big tax hike. We got huge spending increases under Bush, and now Obama has picked up the baton and is racing in the same direction. Needless to say, the politicians don’t care about deficits when they are spending money. But when it is time to discuss tax policy, deficits suddenly become a giant threat to the economy and turning more of our money over to the political class is the only solution. The Q&A session also is interesting, as I pontificate about the financial crisis, Keynesian economics, the rule of law,... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2876019 Thu, 08 Oct 2009 18:20:30 +0100 2876019 http://www.medworm.com/index.php?rid=2851742&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FAJydmeUPsGM%2F During a speaking trip to China three years ago, the young tour guide in Beijing kept referring to “the liberation.” I soon realized that she meant the October Revolution of 1949, in which Mao Tse Tung and the communists seized power and began their rule 60 years ago today. Far from liberating China, the reign of Mao represents one of the worst tyrannies in the history of mankind. Opposition parties, free speech and freedom of religion were quickly eliminated. The Great Leap Forward of 1958-61 forced the collectivization of agriculture, resulting in a famine that killed tens of millions. The Cultural Revolution of 1966-76, while not as deadly, unleashed chaos that crippled the economy and scarred a generation. As Gordon Chang writes in a Wall Street Journal op-ed this morning, the cele... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2851742 Thu, 01 Oct 2009 15:38:21 +0100 2851742 http://www.medworm.com/index.php?rid=2842513&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FM9AfmWdCXWQ%2F USA Today’s Dennis Cauchon reports that ”state governments are rushing to borrow money to take advantage of cheap and plentiful credit at a time when tax collections are tumbling.” That will allow them to “avoid some painful spending cuts,” Cauchon notes, but it will sadly impose more pain on taxpayers down the road. When politicians have the chance to act irresponsibly, they will act irresponsibly. Give them low interest rates and they go on a borrowing binge. The result is that they are in over their heads with massive piles of bond debt on top of the huge unfunded obligations they have built up for state pension and health care plans. The chart shows that total state and local government debt soared 93 percent this decade. It jumped from $1.2 trilli... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2842513 Mon, 28 Sep 2009 19:34:18 +0100 2842513 http://www.medworm.com/index.php?rid=2832096&cid=t_348415_86_f&fid=34445&url=http%3A%2F%2Fwomenshealthnews.wordpress.com%2F2009%2F09%2F24%2Fon-the-economy-and-family-planning%2F Discussions about women and families who are carefully considering their reproductive and health care choices often overlook out one important fact, however: poor women have always faced this situation. (And, they have historically been targeted for coercive efforts to restrict their childbearing by forced contraception and/or sterilization efforts.) Worries about the affordability of health care and decisions about having additional children aren’t new — they’re simply being experienced by a broader range of people than usual right now.” Other recent articles from the newsletter are available here. Posted in Access, Rights, & Choice, Contraception, Health, Women's Health (Source: Women's Health News) Women's Health News blogs http://www.medworm.com/rss/comments.php?id=2832096 Thu, 24 Sep 2009 23:50:20 +0100 2832096 http://www.medworm.com/index.php?rid=2823964&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FGP_FEocr8sE%2F “My critics say that I’m taking over every sector of the economy,” President Obama sighed to George Stephanopoulos during his Sunday media blitz. Not every sector. Just health care energy local schools banks insurance companies automobile companies compensation at financial firms newspapers the internet This president and his Ivy League advisers believe that they know how an economy should develop better than hundreds of millions of market participants spending their own money every day. That is what F. A. Hayek called the “fatal conceit,” the idea that smart people can design a real economy on the basis of their abstract ideas. This is not quite socialism. In most of these cases, President Obama doesn’t propose to actually nationalize the means of product... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2823964 Wed, 23 Sep 2009 14:10:35 +0100 2823964 http://www.medworm.com/index.php?rid=2814397&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FdOUTrF4ueVU%2F Pakistan long has tottered on the edge of being a failed state:  created amidst a bloody partition from India, suffered under ineffective democratic rule and disastrous military rule, destabilized through military suppression of East Pakistan (now Bangladesh) by dominant West Pakistan, dismembered in a losing war with India, misgoverned by a corrupt and wastrel government, linked to the most extremist Afghan factions during the Soviet occupation, allied with the later Taliban regime, and now destabilized by the war in Afghanistan.  Along the way the regime built nuclear weapons, turned a blind eye to A.Q. Khan’s proliferation market, suppressed democracy, tolerated religious persecution, elected Asif Ali “Mr. Ten Percent” Zardari as president, and wasted billion... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2814397 Mon, 21 Sep 2009 13:45:20 +0100 2814397 http://www.medworm.com/index.php?rid=2809662&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FYN8MwjrmY-s%2F Nat Hentoff has a few tough questions for doctors who aided CIA torture. Is public option a private insurer killer? Larry McNeely and Michael Cannon debate. “Cap-and-Trade Is Dead. Long Live Cap-and-Trade!” Fed Chairman Ben Bernanke says the recession is probably over. But was he the man who saved the economy? Podcast: Should the government have the power to punish you for speaking your mind? Many Americans think it should…so long as it’s people with whom they don’t agree. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2809662 Fri, 18 Sep 2009 20:37:30 +0100 2809662 http://www.medworm.com/index.php?rid=2807848&cid=t_348415_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F09%2F17%2Fchaos-theory-ben-bernankes-good-news%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily: Ben Bernanke’s Good News. Posted in Politcal Cartoons Tagged: ben bernanke, economy, recession, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=2807848 Thu, 17 Sep 2009 20:47:21 +0100 2807848 http://www.medworm.com/index.php?rid=2803883&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FnHv08v7U-SI%2F Earlier this month, the Lowy Institute in Australia published a paper offering some very sound and, obviously, very timely advice about how to contain, and ultimately, eradicate protectionism. The paper is being circulated among the G20 delegations, who will undoubtedly discuss the topic of trade and protectionism in Pittsburgh next week. So for those of you interested in getting a sense of what will probably be the single best idea on (or at least near) the table at the G20 summit, I highly recommend this 20-pager. The solution proposed by the authors boils down to a two-word phrase: “Domestic Transparency.” What is meant by that phrase is that “defeating protectionism begins at home.” And by that slogan, the authors mean that the key to reducing, and ultimately el... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2803883 Thu, 17 Sep 2009 16:00:42 +0100 2803883 http://www.medworm.com/index.php?rid=2803885&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fe7l3bFEGGRA%2F This is from the Reagan administration’s deregulatory 1981 energy plan: “All Americans are involved in making energy policy. When individual choices are made with a maximum of personal understanding and a minimum of government restraints, the result is the most appropriate energy policy.” Many modern Republicans claim devotion to Ronald Reagan’s ideas, but they often seem to forget about the “minimum of government” thing. The following points are from Republican Virginia gubernatorial candidate Bob McDonnell’s “More Energy, More Jobs” plan: “McDonnell was the chief sponsor of legislation creating the Virginia Hydrogen Energy Plan.” “McDonnell also supported grant programs for solar photovoltaic manufacturing, tax ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2803885 Thu, 17 Sep 2009 15:42:09 +0100 2803885 http://www.medworm.com/index.php?rid=2803888&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F21p5UjsSTFk%2F The Obama administration has been touting its wasteful “stimulus” package as the answer to the recession.  Now that Uncle Sam has started his spending binge, John Cogan, John Taylor, and Volker Wieland assess the result.  Their conclusion:  for all of the money spent, the effort wasn’t much of a stimulus. They write in the Wall Street Journal: Direct evidence of an impact by government spending can be found in 1.8 of the 5.4 percentage-point improvement from the first to second quarter of this year. However, more than half of this contribution was due to defense spending that was not part of the stimulus package. Of the entire $787 billion stimulus package, only $4.5 billion went to federal purchases and $17.7 billion to state and local purchases in the second quarte... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2803888 Thu, 17 Sep 2009 13:40:10 +0100 2803888 http://www.medworm.com/index.php?rid=2800665&cid=t_348415_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F09%2F16%2Fyou-want-savers-not-debtors-since-when%2F My new Politics Daily / Woman Up post: It’s not often that Kansans make the national news. But one did so a few days ago in The New York Times. His name is Ray Rucker, and he lives in Overland Park, a suburb of Kansas City. Rucker is 62 years old. He wants to work another 10 years, but he’s been laid off. And no one wants to hire him. For 32 years I have lived just a few miles from Overland Park. So I think I can describe the mindset of a typical Kansan: They are polite to a fault. If they have something unkind to say, they keep silent. They go to church. They vote Republican. They work hard. They hoard more than they spend. The cliche of the salt-of-the-earth Midwesterner is not far off the mark… Read the rest on AOL: You Want Savers, Not Debtors? Since When? Posted in K... Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=2800665 Wed, 16 Sep 2009 05:09:55 +0100 2800665 http://www.medworm.com/index.php?rid=2796842&cid=t_348415_180_f&fid=38610&url=http%3A%2F%2Fwww.productivity501.com%2Fstarting-a-business-in-a-down-economy%2F5358%2F A friend of mine is starting a business selling Cupcake Towers. When I first heard what she was doing I thought, “Why would you want to start a business right now?” After further consideration, I realized that if you have a good product or service, now might be the best possible time to start a business.  Here is why: There is less competition for workers right now so you can get good help for a reasonable cost. If you have a business idea that you can run on the side, it makes sense to start before you quit your day job. Technology has drastically reduced the cost of running a business. You can get a web store up for $20 to $40 per month (sometimes even less). If you want to work from home, but can’t with your current job, starting a business that you can manage durin... Productivity501 blogs http://www.medworm.com/rss/comments.php?id=2796842 Tue, 15 Sep 2009 16:11:56 +0100 2796842 http://www.medworm.com/index.php?rid=2796414&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FgXSkReayefo%2F When Treasury Secretary Hank Paul proposed the bailout of Wall Street banks last September, I objected in part because the TARP meant that government connections, not economic merit, would come to determine how capital gets allocated in the economy. That prediction now looks dead on: As financial firms navigate a life more closely connected to government aid and oversight than ever before, they increasingly turn to Washington, closing a chasm that was previously far greater than the 228 miles separating the nation’s political and financial capitals. In the year since the investment bank Lehman Brothers collapsed, paralyzing global markets and triggering one of the biggest government forays into the economy in U.S. history, Wall Street has looked south to forge new business strategies... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2796414 Mon, 14 Sep 2009 18:27:19 +0100 2796414 http://www.medworm.com/index.php?rid=2793133&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FiRipOsGJiuw%2F Obama spoke on Wall Street today about increasing regulation of the American financial system. But did deregulation really cause the financial crisis? According to the Economic Freedom in the World report, the U.S. was ranked the second-freest economy in 2000. It has fallen to 6th place this year. A bold exit strategy for Afghanistan. The economics of health care reform. Why it’s time for the U.S. to start doing less abroad. Podcast: China’s economy is on track to be larger than the U.S. economy in a few years. Trade expert Dan Griswold says, “So what?” (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2793133 Mon, 14 Sep 2009 17:45:12 +0100 2793133 http://www.medworm.com/index.php?rid=2793134&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FHQmw2pZGlFY%2F Today President Obama took his financial reform plan to the airwaves.  While there is no doubt our financial system is in need of financial reform, the President’s plan would make bailouts a permanent feature of the regulatory landscape.  Rather than ending “too big to fail” — the President wants us to believe that with additional discretion and power, the same Federal Reserve that missed the boat last time will save us next time. The truth is that the President’s plan will result in a small number of companies being viewed by debtholders as “too big to fail”.  These companies would see their funding costs decline, allowing them to gain market-share at the expense of their rivals, making these firms even larger.  Greater concentration in our fi... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2793134 Mon, 14 Sep 2009 16:29:55 +0100 2793134 http://www.medworm.com/index.php?rid=2786172&cid=t_348415_125_f&fid=38161&url=http%3A%2F%2Fwww.dentalheroes.com%2F5-things-you-can-do-to-make-the-economy-work-for-your-dental-practice%2F The following is guest post by Monica Cross, author of  UrgentDentalCareServices.com. Interested in guest posting on Dental Heroes? Have a look at our guidelines and sign up. There is no doubt that today’s economy has had a profound effect on industries across the board. Consumer spending is way down due to heightened unemployment, salary cuts and the housing crisis. While the dental industry has proven to be recession-proof in the past, fears of losing jobs and/or insurance benefits have made many consumers reluctant to pay for dental treatments. Don’t Cut Back While common sense is telling many business owners to cut back during this time in order to manage costs, the recession actually presents a great opportunity for dental professionals to stand out from their competitors. Al... Dental Heroes blogs http://www.medworm.com/rss/comments.php?id=2786172 Fri, 11 Sep 2009 05:00:56 +0100 2786172 http://www.medworm.com/index.php?rid=2778388&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FjerIjbKhW7M%2F Will the President raise taxes on new tires? President Obama will need to decide any day now whether to impose tariffs on lower-end automobile tires imported from China. As my colleague Dan Ikenson has ably argued, the decision will tell us much about whether the president believes trade policy should serve the general interest of all Americans, or whether it is simply a political tool to satisfy key constituencies. Neglected in the news coverage of the pending decision is the impact it could have on consumers. The imported tires targeted by this Section 421 case are of the cheaper variety, the kind that low-income Americans would buy to keep their cars on the road during a recession. If the president decides to impose tariffs, his union supporters will cheer, but “working families’ wi... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2778388 Wed, 09 Sep 2009 17:15:35 +0100 2778388 http://www.medworm.com/index.php?rid=2778389&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F1NqFM6Kq5LM%2F Commenting on a recent article of mine in The Wall Street Journal, Peter Gartside claims that: Prior to 1913, the U.S. annual gross domestic product changes oscillated between extremes of approximately plus orminus 15%.   After the establishment of the Federal Reserve Board, the limits of GDP oscillations narrowed to approximately plus or minus 6%. You may well wonder where he got that idea, since there are no official estimates of gross domestic product (GDP) for years before 1929.  In the early 1960s, however, John Kendrick and Simon Kuznets bravely attempted to construct such estimates for gross national product (GNP).  That would be close enough to modern GDP data were it not for the primitive statistics and technology they had to work with. The table (after the jump) shows these h... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2778389 Wed, 09 Sep 2009 16:14:21 +0100 2778389 http://www.medworm.com/index.php?rid=2778390&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fhr4K3Ll_DM4%2F I blogged this morning that the research shows higher public school spending slows the economy, and explained that this is because spending more on public schools doesn’t increase students’ academic performance. Some readers no doubt find that hard to accept. With them in mind, I present the following chart: Spending vs. Achievement If public schools had merely maintained the level of productivity they exhibited in 1970, Americans would enjoy a permanent $300 billion annual tax cut. Now THAT would stimulate economic growth. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2778390 Wed, 09 Sep 2009 15:52:41 +0100 2778390 http://www.medworm.com/index.php?rid=2778395&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FP2BtG8Vt7nk%2F Tomorrow morning, the president’s Council of Economic Advisers will release a report assessing the short and long-term effects of the stimulus bill on the U.S. economy. As with previous iterations, this report will attempt to forecast overall effects of the stimulus across its many different components and the different economic sectors it targets. In doing so, it ignores the clearest research findings available pertaining to a key portion of the stimulus: k-12 education. The president has committed $100 billion in new money to the nation’s public school systems, and required that states accepting the funds promise not to reduce their own k-12 spending. The official argument for this measure is that higher school spending will accelerate U.S. economic growth. But a July 2008 st... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2778395 Wed, 09 Sep 2009 12:34:21 +0100 2778395 http://www.medworm.com/index.php?rid=2774890&cid=t_348415_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F09%2F08%2Fchaos-theory-the-tao-of-recession%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily: The Tao of Recession. Posted in Politcal Cartoons, Politics Tagged: conservative, democrat, economy, liberal, recession, republican (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=2774890 Tue, 08 Sep 2009 16:46:37 +0100 2774890 http://www.medworm.com/index.php?rid=2774605&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FVn4WjxzD5cw%2F Bloomberg News points out that President Obama needs a health-care crisis in order to impose a health-care “solution”: President Barack Obama returns to Washington next week in search of one thing that can revive his health-care overhaul: a sense of crisis…. “At the moment, except for the people without insurance, we’re not in a health-care crisis,” said Stephen Wayne, a professor of government at Georgetown University in Washington. “You do need a crisis to generate movement in Congress and to help build a consensus.” This administration has used Naomi Klein’s book The Shock Doctrine as a manual. Klein said in an interview that The Shock Doctrine is a political strategy that the Republican right has been perfecting over the past 35 years to use for variou... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2774605 Tue, 08 Sep 2009 16:07:50 +0100 2774605 http://www.medworm.com/index.php?rid=2766275&cid=t_348415_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F09%2F04%2Fchaos-theory-its-a-hobo-jungle-out-there%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily: It’s a Hobo Jungle Out There. Posted in Politcal Cartoons Tagged: democrat, economy, recession, republican (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=2766275 Fri, 04 Sep 2009 13:32:39 +0100 2766275 http://www.medworm.com/index.php?rid=2766276&cid=t_348415_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F09%2F04%2Fchaos-theory-obama-wheres-our-bailout%2F New cartoon by Trussell and Trussell on AOL’s Politics Daily: Obama, Where’s Our Bailout? Posted in Politcal Cartoons Tagged: bailout, clown, economy, obama, recession (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=2766276 Fri, 04 Sep 2009 13:28:57 +0100 2766276 http://www.medworm.com/index.php?rid=2766005&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FOG4OrpHy7IQ%2F The Washington Post reports on the results of a survey of federal agencies on their hiring needs conducted by the Partnership for Public Service: The federal government needs to hire more than 270,000 workers for ‘mission-critical’ jobs over the next three years… Mission-critical jobs are those positions identified by the agencies as being essential for carrying out their services. The study estimates that the federal government will need to hire nearly 600,000 people for all positions over President Obama’s four years — increasing the current workforce by nearly one-third. Given the mind-set of most government managers I’ve encountered, I’m a little surprised they didn’t define all 600,000 as “mission critical.”  But 270,000 or ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2766005 Thu, 03 Sep 2009 18:54:27 +0100 2766005 http://www.medworm.com/index.php?rid=2757731&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FixQzP3RhJ68%2F Will Afghanistan become Obama’s Vietnam? Why America’s experience in Bosnia and Iraq offers ample warning against taking the mission too far in Afghanistan. Will Japan remain pacifist? Paul Krugman claims a victory for Big Government, which he says “saved” the economy from an economic depression. Alan Reynolds debunks his claim and shows why bigger government  produces only bigger and longer recessions. Podcast: Johan Norberg explores the causes of the financial crisis. For more, don’t miss his new book, Financial Fiasco: How America’s Infatuation with Homeownership and Easy Money Created the Economic Crisis. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2757731 Tue, 01 Sep 2009 20:49:28 +0100 2757731 http://www.medworm.com/index.php?rid=2751887&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FM5BkKGxa-aQ%2F Last November’s rejection of the failed GOP didn’t mean voters were ready to embrace a massive increase in the size of the federal government, says Scott Keeter, director of survey research at Pew Research Center: Obama campaigned for strong government action on the economy and health care, and most of his voters agreed with this direction. But Obama’s efforts to expand the role of government have alienated many of those who did not vote for him but nonetheless gave him high marks when first he took office. Pew Research’s political values survey this spring showed no surge in public demand for more government. Indeed, anti-government sentiment, which had been building for years, was heightened by the financial bailout and stimulus program. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2751887 Mon, 31 Aug 2009 18:08:18 +0100 2751887 http://www.medworm.com/index.php?rid=2744054&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fim1QPFz52KY%2F The White House and the CBO announced this week that: The nation’s fiscal outlook is even bleaker than the government forecast earlier this year because the recession turned out to be deeper than widely expected, the budget offices of the White House and Congress agreed in separate updates on Tuesday. The Obama administration’s Office of Management and Budget raised its 10-year tally of deficits expected through 2019 to $9.05 trillion, nearly $2 trillion more than it projected in February. That would represent 5.1 percent of the economy’s estimated gross domestic product for the decade, a higher level than is generally considered healthy. What is the right response to these deficits? One view holds that most current expenditure is desirable — indeed, that expenditure should ideall... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2744054 Fri, 28 Aug 2009 14:55:57 +0100 2744054 http://www.medworm.com/index.php?rid=2737696&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FyPNJcGHYRgM%2F A Bloomberg story on one cause of the ongoing British economic disaster under Prime Minister Gordon Brown: Andrew Wesbecher moved to London from New York in 2006 to sell software to banks and hedge funds. This month he joined the exodus of American expatriates fleeing high taxes and the city’s shrinking financial industry . . . Americans are heading home as Britain plans a 50 percent tax rate for those who earn more than 150,000 pounds ($248,000) a year and employers cut benefits for workers living abroad, reducing the allure of London. That comes a year after the U.K. said foreigners who have lived in the country for more than seven years must pay 30,000 pounds annually or give up the special status that shields overseas income from British taxes. Since the 1980s, London has boomed as a... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2737696 Thu, 27 Aug 2009 13:30:19 +0100 2737696 http://www.medworm.com/index.php?rid=2737704&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F7X_pJG6gRnI%2F An article published this week by National Review magazine blames the many problems of California on—take a guess—high taxes, over-regulation of business, runaway state spending, an expansive welfare state? Try none of the above. The article, by Alex Alexiev of the Hudson Institute, puts the blame on the backs of low-skilled, illegal immigrants from Mexico and the federal government for not keeping them out. Titled “Catching Up to Mexico: Illegal immigration is depleting California’s human capital and ravaging its economy,” the article endorses high-skilled immigration to the state while rejecting the influx of “the poorly educated, the unskilled, and the illiterate” immigrants that enter illegally from Mexico and elsewhere in Latin America. Before swallowing the article’s ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2737704 Wed, 26 Aug 2009 15:34:18 +0100 2737704 http://www.medworm.com/index.php?rid=2734157&cid=t_348415_125_f&fid=34820&url=http%3A%2F%2Fwww.dentalblogs.com%2Farchives%2Fadministrator%2Fsmart-dentists-overcome-the-recession%2F In “Dentists work on reducing costs” by Arlene Furlong, an article posted on the American Dental Association’s website, we’re told that dentists are making these changes to weather the economic storm: Adding or Adjusting Hours of Operation Adding Services Hiring Associates (for extended hours & services) Do More General Dentistry Cut Overhead Cut Staff Hours Fully Use Assistants & Hygienists Tips from the experts include… Change your hours to three full days rather than four short days. Open the office early – those appointment times always book up! People work 9-5 and don’t want to dip into paid time off (or unpaid) to go to the dentist, so make sure your hours accommodate the working class – the people who have money to spend at your office. Book up empty sched... dental blog for dentists about dentistry blogs http://www.medworm.com/rss/comments.php?id=2734157 Tue, 25 Aug 2009 15:04:40 +0100 2734157 http://www.medworm.com/index.php?rid=2734014&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FXmuqbPJu1us%2F In re-appointing Bernanke to another four year term as Fed chairman, President Obama completes his embrace of bailouts, easy money and deficits as the defining characteristics of his economic agenda. Bernanke, along with Secretary Geithner (then New York Fed president) were the prime movers behind the bailouts of AIG and Bear Stearns. Rather than “saving capitalism,” these bailouts only spread panic at considerable cost to the taxpayer. As evidenced in his “financial reform” proposal, Obama does not see bailouts as the problem, but instead believes an expanded Fed is the solution to all that is wrong with the financial sector. Bernanke also played a central role as the Fed governor most in favor of easy money in the aftermath of the dot-com bubble — a policy t... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2734014 Tue, 25 Aug 2009 14:25:29 +0100 2734014 http://www.medworm.com/index.php?rid=2725324&cid=t_348415_177_f&fid=38134&url=http%3A%2F%2Fbabybound.wordpress.com%2F2009%2F08%2F22%2Fbookends%2F Life is strange.  Everything happens for a reason of course, but sometimes things happen that just make you wonder: what the f. is going to happen next? This was an extremely challenging week.  More of a shitstorm of sorts.  One of those weeks that make you have to look reeeeaaaally deep inside yourself to find the funny.  I can’t lie, I kinda flipped the f. out.  For the first time in a really long time, I was physically unable to cope and almost needed loads of drugs, hospitalization sedation.  But while this may have seemed like the hardest thing I’ve ever gone through, after sleeping on it, I realized its not.  But even more personal reflection revealed that we been through this exact same shitstorm before. Let me explain.  Bring on the bullets… The year 2000 ... B a b y B o u n d blogs http://www.medworm.com/rss/comments.php?id=2725324 Sat, 22 Aug 2009 23:30:55 +0100 2725324 http://www.medworm.com/index.php?rid=2724911&cid=t_348415_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2009%2F08%2F22%2Fmoney-fear-two-ways-to-cope-with-financial-panic-and-recession-anxiety%2F One of my depression busters is to “become the expert.” This means, as I’m peeing my pants about where Eric and I are going to get our next paycheck, I am doling out advice on how to cope with such anxiety. In telling someone else what you are supposed to be doing, I actually learn the lesson myself. And then I think if I can actually fool people into thinking that I have it all together, maybe I could have it altogether. Nah….. A few days ago a reader wrote me this email: Lately I have been nearly paralyzed with fear and anxiety about financial issues. I have contacted my former shrink and hope she will take me back. Could you possible write an entry about dealing with and handling such fear? I’m sure that it would help me so much. Ironically, I read it an h... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=2724911 Sat, 22 Aug 2009 13:28:19 +0100 2724911 http://www.medworm.com/index.php?rid=2719776&cid=t_348415_113_f&fid=35744&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2Fe-CareManagement%2F%7E3%2Fjp_2OUrAwoQ%2F   “We need to make care linkages a core competency of American health care.”  George Halvorson, Chairman and CEO, Kaiser Foundation Health Plan, Kaiser Foundation Hospital   There’s a double meaning to the title of this new series: Healthcare Crosses the Chasm to the Network Economy At the level of technology, it’s a reference to Geoffrey Moore’s bestselling business/technology book — “Crossing the Chasm”. The Chasm here is the huge gap between early adopters of technology and mainstream users. The book describes the process of bringing specific technologies into mainstream usage. At the level of clinical care, its a reference to the landmark 2001 report by the Institute of Medicine — “Crossing the Chasm”.  Here, the Chasm is a reference to the quality/safety... e-CareManagement blogs http://www.medworm.com/rss/comments.php?id=2719776 Fri, 21 Aug 2009 01:09:37 +0100 2719776 http://www.medworm.com/index.php?rid=2715922&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FEYEjyI3nroc%2F My colleagues have blogged before about the recent sugar “market” woes. There was some hope that the USDA, which manages sugar imports very carefully to maintain U.S. prices up to three times higher than world prices, would relax the sugar quotas this year and give sugar users some well-deserved and long overdue relief. Alas, it was not to be. According to Congress Daily, the USDA announced today [$] that there would be no increase in the import quota for the time being, and that their models saw no cause for alarm because of predicted increases in domestic production and Mexican imports (allowed special import status through NAFTA). And who cares about sugar users’ concerns when you have models? The American Sugar Alliance says (sigh) that the announcement “makes ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2715922 Wed, 19 Aug 2009 17:00:30 +0100 2715922 http://www.medworm.com/index.php?rid=2715924&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FzuIp2BgI0Is%2F Mark Calabria notes how the form of salary scheme at financial institutions played no apparent role in sparking the financial crisis.  But that hasn’t stopped the federal pay czar from boasting about his power, even to regulate compensation set before he took office. Reports the Martha’s Vineyard Times: Speaking to a packed house in West Tisbury Sunday night, Kenneth Feinberg rejected the title of “compensation czar,” but he also said said his broad and “binding” authority over executive compensation includes not only the ability to trim 2009 compensation for some top executives but to change pay plans for second tier executives as well. In addition, Mr. Feinberg said he has the authority to “claw back” money already paid to executives ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2715924 Wed, 19 Aug 2009 15:08:56 +0100 2715924 http://www.medworm.com/index.php?rid=2709113&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FXCwbsfeOA9o%2F Jeff Jonas has published an important post: “Your Movements Speak for Themselves: Space-Time Travel Data is Analytic Super-Food!” More than you probably realize, your mobile device is a digital sensor, creating records of your whereabouts and movements: Mobile devices in America are generating something like 600 billion geo-spatially tagged transactions per day. Every call, text message, email and data transfer handled by your mobile device creates a transaction with your space-time coordinate (to roughly 60 meters accuracy if there are three cell towers in range), whether you have GPS or not. Got a Blackberry? Every few minutes, it sends a heartbeat, creating a transaction whether you are using the phone or not. If the device is GPS-enabled and you’re using a location-based ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2709113 Mon, 17 Aug 2009 16:21:30 +0100 2709113 http://www.medworm.com/index.php?rid=2709257&cid=t_348415_125_f&fid=34820&url=http%3A%2F%2Fwww.dentalblogs.com%2Farchives%2Fkeith-drayer%2Fhow-dentists-can-stay-fiscally-fit-in-2009%2F Tax breaks and limited-time laws make 2009 the right time to invest in your practice… The American Recovery and Reinvestment Act of 2009 was signed into law on February 17, 2009 with some of the best benefits having limited remaining time eligibility. Small-business owners have limited time in 2009 to benefit from the most lucrative tax incentives for acquiring technology and/or equipment. If your practice is ready to buy equipment or software, the tax incentives for doing so are better than ever. These benefits will expire (or be reduced) as of January 1, 2010. The American Recovery and Reinvestment Act accompanied with lower interest rates make this a strategic time to invest in your practice to meet the demands of today’s healthcare industry. Because of these beneficial conditio... dental blog for dentists about dentistry blogs http://www.medworm.com/rss/comments.php?id=2709257 Mon, 17 Aug 2009 15:33:33 +0100 2709257 http://www.medworm.com/index.php?rid=2709116&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F7nvtIb_Ez3o%2F Politico reports that the so-called “public option” provision could be dropped from the highly controversial health care bill currently being debated throughout the country: President Barack Obama and his top aides are signaling that they’re prepared to drop a government insurance option from a final health-reform deal if that’s what’s needed to strike a compromise on Obama’s top legislative priority…. Obama and his aides continue to emphasize having some competitor to private insurers, perhaps nonprofit insurance cooperatives, but they are using stronger language to downplay the importance that it be a government plan. As I have said before, establishing health insurance co-operatives is a poor alternative to the public option plan. Opponents of a government ta... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2709116 Mon, 17 Aug 2009 14:33:11 +0100 2709116 http://www.medworm.com/index.php?rid=2674391&cid=t_348415_125_f&fid=34820&url=http%3A%2F%2Fwww.dentalblogs.com%2Farchives%2Fadministrator%2Fdentists-can-survive-and-thrive-in-economic-downturn%2F If you’re not sure what tomorrow holds for your business, or if you’ve begun to worry about financial stability and success in light of the economy, listen to the experts. Apply their advice. See what happens. Brandon Parkhurst, CPA, CFP, tells us in this month’s Dental Products Report that “What Goes Down, Must Come Up.” Based on a survey by DPR, half of general dentists will not make an investment in new products for the office this year as a direct result of the lagging economy. But should they? That’s just one piece of the puzzle, actually. Many factors contribute to a dental office’s success. Parkhurst and other experts recommend these tips: Manage costs - Parkhurst Don’t pay down debt too quickly. Keep your cash fluid for emergencies and the future. Consolidat... dental blog for dentists about dentistry blogs http://www.medworm.com/rss/comments.php?id=2674391 Thu, 06 Aug 2009 12:47:24 +0100 2674391 http://www.medworm.com/index.php?rid=2667401&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FL6XbTQy8V9A%2F Over the weekend Treasury Secretary Timothy Geithner, who’s had a bit of trouble paying his own taxes, made it clear–in Washington-speak–that tax hikes are coming.  He appeared on air with George Stephanopoulos.  Byron York of the Washington Examiner provides the transcript of the relevant Q&A: STEPHANOPOULOS: Former deputy Treasury Secretary Roger Altman said it is no longer a matter of whether tax revenues should increase but how. Is he right? GEITHNER: George, it is absolutely right and very important for everyone to understand we will not get this economy back on track, recovery will not be strong enough to sustain unless we can convince the American people that we’re going to have the will to bring these deficits down once recovery is firmly established. ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2667401 Mon, 03 Aug 2009 16:36:51 +0100 2667401 http://www.medworm.com/index.php?rid=2663919&cid=t_348415_87_f&fid=38368&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FDisruptiveWomenInHealthCare%2F%7E3%2FRBpTJzGiRBI%2F I just finished a great book; Why She Buys. I was stunned to learn just how much of the US economy is controlled by women: 65% of apparel, 52% of all auto and truck, 45% of consumer electronics and 70% of travel purchases. If influence over purchases is considered, women influence 80% of auto and truck, 91% of home, and 61% of consumer electronics purchases.     Wondering about health care? It turns out that Dr. Mom makes more decisions than Dr. Welby; directing 80% of expenditures. It’s not just “Dr. Mom,” I’m guessing, but Dr. Wife, Dr. Sister, Dr. Friend and Dr. Daughter (or Daughter-in-Law) who help with the health care maze.   A great book. I recommend it, though it raised my ire and blood pressure more than once as I realized how even with that level of seeming economic p... Disruptive Women in Health Care blogs http://www.medworm.com/rss/comments.php?id=2663919 Mon, 03 Aug 2009 11:29:19 +0100 2663919 http://www.medworm.com/index.php?rid=2662479&cid=t_348415_86_f&fid=34445&url=http%3A%2F%2Fwomenshealthnews.wordpress.com%2F2009%2F08%2F01%2Fon-the-economy-and-reproductive-health-choices%2F My most recent piece for the National Women’s Health Network newsletter, Women’s Health Activist, is now available, and covers issues of the economy, access to care and coverage, and how worries about family planning and affordability are nothing new to many families. An excerpt: Worries about the affordability of health care and decisions about having additional children aren’t new — they’re simply being experienced by a broader range of people than usual right now. One Planned Parenthood staffer who was interviewed by National Public Radio said it was “a very different decision today than it was a year ago to expand your family and to have a child.” For many low-income families, however, economic instability, limited access to health care, and concerns about re... Women's Health News blogs http://www.medworm.com/rss/comments.php?id=2662479 Sat, 01 Aug 2009 23:23:50 +0100 2662479 http://www.medworm.com/index.php?rid=2625952&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FUZ1NYgCkBFg%2F We own three iPods at my house, including a recently purchased iPod Touch. Since many of the iPod parts are made abroad, is my family guilty of allowing our consumer spending to “leak” abroad, depriving the American economy of the consumer stimulus we are told it so desperately needs? If you believe the “Buy American” lectures and legislation coming out of Washington, the answer must be yes. Our friends at ReasonTV have just posted a brilliant video short, “Is Your iPod Unpatriotic?” With government requiring its contractors to buy American-made steel, iron, and manufactured products, is it only a matter of time before the iPod—“Assembled in China,” of all places—comes under scrutiny? You can view the video here: In my upcoming Cato book, Mad about Trade: Why M... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2625952 Tue, 21 Jul 2009 19:54:03 +0100 2625952 http://www.medworm.com/index.php?rid=2625963&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fj9AVWzqNpdc%2F In today’s Wall Street Journal, Fed Chairman Ben Bernanke has outlined “The Fed’s Exit Strategy.” He tells the reader how the central bank will avoid an inflation of historic proportions resulting from all the money and credit it has injected into the economy. All of the strategies he outlines are technically feasible ways for the Fed to implement monetary restraint. The op-ed has an air of a classroom exercise, however, rather than a practical central-bank strategy. Much of the article is devoted to explaining how the Fed can now pay interest on reserves, and how it could raise that interest rate so as to dissuade commercial banks from lending the reserves out. It could do that, but what would that rate need to be in order to meet a private bank’s threshold r... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2625963 Tue, 21 Jul 2009 15:15:52 +0100 2625963 http://www.medworm.com/index.php?rid=2621752&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FJyaZOAD6zdo%2F A new ABC/Washington Post poll is out.  The trends are not comforting for the White House.  President Obama’s approval rating - probably the most important number for a president these days - continues to drop. Approval by independents has fallen by 9 points over his term.  Support for his handling of the economy now garners the approval of barely half of respondents.  The number of people who see him as an “old-style tax and spend” Democrat has rise by 11 percentage points; the number who see has as a new Democrat “careful with public money” has dropped by about the same number. A majority of the public now rejects a second spending splurge. Most now give avoiding deficits a higher priority than increasing spending, even to fight the recession. The number... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2621752 Mon, 20 Jul 2009 18:00:10 +0100 2621752 http://www.medworm.com/index.php?rid=2615381&cid=t_348415_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2009%2F07%2F18%2Fimprisoning-people-with-mental-illness%2F People with mental illness are increasingly ending up being imprisoned, rather than in the mental health care system where many of them belong. With the down economy, states and counties — who are primarily responsible for the health of the indigent — cut social services first. And with most public psychiatric hospitals long-since closed, people who have a mental disorder end up being warehoused not in hospitals, but in prisons. Yes, we succeeded in closing down the state mental hospitals. But we moved the population not to outpatient facilities, but to our prisons. Now, finally, people are realizing the short-sightedness of locking people with mental illness up, as the spiraling prison costs of doing so become a burden to cash-strapped local governments. In Philadelphia, a ne... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=2615381 Sat, 18 Jul 2009 17:11:30 +0100 2615381 http://www.medworm.com/index.php?rid=2613827&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FN0C09Kl2jwA%2F Rep. Ron Paul now has a majority of the House of Representatives supporting his bill for an independent audit of the Federal Reserve System. He presented his case at a Cato Policy Forum recently, with vigorous responses from Bert Ely and Gilbert Schwartz. Now more than 200 economists have signed a petition calling on Congress to “defend the independence of the Federal Reserve System as a foundation of U.S. economic stability.” The petition seems implicitly a rebuttal to Paul’s bill. Allan Meltzer, a leading monetary scholar and frequent participant in Cato’s annual monetary conferences, declined to sign the petition and explained why: “I wrote them back and said, ‘the Fed has rarely been independent and it strikes me that being independent is very unlikely’” in th... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2613827 Fri, 17 Jul 2009 21:05:22 +0100 2613827 http://www.medworm.com/index.php?rid=2613838&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fk4KyMt3g-yk%2F More than 250 economists have signed an “Open Letter to Congress and the Executive Branch” calling upon them to “defend the independence of the Federal Reserve System as a foundation of U.S. economic stability.” Allan Meltzer is not a signatory to the petition and he has explained why not.  The Fed has frequently not shown independence in the past, and there is no reason to expect it to do so reliably in the future.  Professor Meltzer has just completed a multi-volume history of the Fed and knows all-too-well of the Fed’s willingness to accommodate the policies of administrations from FDRs to Lyndon Johnson’s.  I would add that the Fed’s behavior under Chairman Bernanke breaks new ground in aligning the central bank’s policy with Treasury’s.  Much of what the Fed has... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2613838 Fri, 17 Jul 2009 12:37:06 +0100 2613838 http://www.medworm.com/index.php?rid=2610892&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FersmG340Lew%2F In an IBD op-ed today, I point out that we’re spending twice as much per pupil as we did in 1970, despite no improvement in achievement at the end of high school and a decline in the graduation rate over that same period. What difference does that make? If public schools had just managed not to get any less efficient over the past 40 years, we’d be saving $300 billion annually. Our education monopoly is a luxury we can no longer afford. When the economy was booming, it didn’t matter that it cost us more and more every year for the same or even inferior results. These days, it’s becoming imperative that we find ways for our education system to enjoy the same relentless increases in efficiency that we take for granted in every other field. This, for instance, would ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2610892 Thu, 16 Jul 2009 12:59:19 +0100 2610892 http://www.medworm.com/index.php?rid=2598197&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FtIOAGuvoii8%2F Obama Considering Another Round of Stimulus With unemployment continuing to climb and the economy struggling along, some lawmakers and pundits are raising the possibility of a second stimulus package at some point in the future. The Cato Institute was strongly opposed to the $787 billion package passed earlier this year, and would oppose additional stimulus packages on the same grounds. “Once government expands beyond the level of providing core public goods such as the rule of law, there tends to be an inverse relationship between the size of government and economic growth,” argues Cato scholar Daniel J. Mitchell. “Doing more of a bad thing is not a recipe for growth.” Mitchell narrated a video in January that punctures the myth that bigger government “stimulate... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2598197 Fri, 10 Jul 2009 22:37:11 +0100 2598197 http://www.medworm.com/index.php?rid=2591537&cid=t_348415_109_f&fid=34699&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2Fscienceblogs%2FvjmG%2F%7E3%2Fv4J1qn3KkAw%2Fnet_job_creation_in_21st_centu.php A chart on Clusterstock (great name) by Kamelia Angelova (another great name) shows what I've suspected for a while: all the jobs created in the USA, during the Bush II years, were unsustainable.  All have been lost.  Meanwhile, the population has increased by about 23 million.  People can argue about what the latest job numbers mean.  Some see signs of recovery; others do not.  I say the data are too noisy, but my take on it is that it is more bad than good.  Some say that employment tends to be alagging indicator, but that is onlypart of the story.  The most comprehsensive look at the employment numbers that I've so so far, is here:  Employment Is NOT A Lagging Indicator.  It's good for people who like graphs.  There is a slideshow... The Corpus Callosum blogs http://www.medworm.com/rss/comments.php?id=2591537 Fri, 10 Jul 2009 13:36:17 +0100 2591537 http://www.medworm.com/index.php?rid=2570384&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FrGWIX7NUNs0%2F A news story from today in a slightly alternate universe: Jobless Rate at 26-Year High Employers kept slashing jobs at a furious pace in June as the unemployment rate edged ever closer to double-digit levels, undermining signs of progress in the economy, and making clear that the job market remains in terrible shape. The number of jobs on employers’ payrolls fell by 467,000, the Labor Department said. That is many more jobs than were shed in May and far worse than the 350,000 job losses that economists were forecasting. Job losses peaked in January and had declined every month until June. The steep losses show that even as there are signs that total economic activity may level off or begin growing later this year, the nation’s employers are still pulling back. White House pres... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2570384 Thu, 02 Jul 2009 15:34:21 +0100 2570384 http://www.medworm.com/index.php?rid=2477534&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fq16t_eoGPbY%2F The Obama Administration is proposing higher taxes on just about everyone and everything, but one common theme is that most of the tax increases are being portrayed as ways of fleecing the so-called rich. This new video, narrated by yours truly, provides five reasons why the economy will suffer if entrepreneurs and investors are hit with punitive taxes. As always, any feedback on message and style would be appreciated. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2477534 Mon, 15 Jun 2009 20:46:53 +0100 2477534 http://www.medworm.com/index.php?rid=2473189&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FOVHZMzbFKSM%2F Will Obama Raise Middle-Class Taxes to Fund Health Care? President Obama is promoting an expansion in federal health care spending, and Democratic leaders are scrambling to find ways to pay for it. The plan is expected to cost about $1.5 trillion over the next decade, but the administration has promised that health care legislation won’t add to already huge federal budget deficits. In a new paper, Cato scholars Michael D. Tanner and Chris Edwards argue that expanding government health care will likely involve huge tax increases on the middle class. Tanner warns of “Obamacare” to come, saying that Obama’s new health care plan will give “government control over one-sixth of the U.S. economy, and over some of the most important, personal, and private decisions in Americans&#8217... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2473189 Fri, 12 Jun 2009 21:17:08 +0100 2473189 http://www.medworm.com/index.php?rid=2464096&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F9y_bEsWFH0o%2F Which uses less energy and emits less pollution: a train, a bus, or a car? Advocates of rail transportation rely on the public’s willingness to take for granted the assumption that trains — whether light rail, subways, or high-speed intercity rail — are the most energy-efficient and cleanest forms of transportation. But there is plenty of evidence that this is far from true. Rail advocates often reason like this: the average car has 1.1 people in it. Compare the BTUs or carbon emissions per passenger mile with those from a full train, and the train wins hands down. The problem with such hypothetical examples is that the numbers are always wrong. As a recent study from the University of California (Davis) notes, the load factors are critical. The average commuter car has 1... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2464096 Mon, 08 Jun 2009 17:11:06 +0100 2464096 http://www.medworm.com/index.php?rid=2464101&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FjNvnLCy3gRU%2F There are lots of reasons Washington should not bail out the automakers.  Whatever the justification for saving financial institutions — the “lifeblood” of the economy, etc., etc. — saving selected industrial enterprises is lemon socialism at its worst.  The idea that the federal government will be able to engineer an economic turnaround is, well, the sort of economic fantasy that unfortunately dominates Capitol Hill these days. One obvious problem is that legislators now have a great excuse to micromanage the automakers.  And they have already started.  After all, if the taxpayers are providing subsidies, don’t they deserve to have dealerships, lots of dealerships, just down the street?  That’s what our Congresscritters seem to think. Observes St... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2464101 Mon, 08 Jun 2009 14:04:51 +0100 2464101 http://www.medworm.com/index.php?rid=2452370&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F98V4sfu4lQY%2F The head of the Office of Personnel Management claims that federal workers are underpaid compared to private sector workers by 20 percent, on average. Federal unions and other cheerleaders for the bureaucracy have been making similar claims for years. I’ve pointed out the dramatic acceleration of federal compensation over the last decade and the excessive generosity of federal worker benefits. Federal workers are not underpaid. Now a Human Resources expert writing in The Washington Post backs up my claims. Lily Garcia writes: The primary advantages of working for the federal government are generous benefits, solid pay, and relative job security, a combination that is challenging to find in the private sector, even in the best of times . . . In addition to these benefits, federal... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2452370 Thu, 04 Jun 2009 21:06:57 +0100 2452370 http://www.medworm.com/index.php?rid=2452729&cid=t_348415_109_f&fid=34699&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2Fscienceblogs%2FvjmG%2F%7E3%2F41GUozWxrxs%2Fmiscellaneous_financial_link.php Business Matters has posted interviews about the financial crisis.   these interviews provide a good overview of the origin of the crisis, plus some clues as to where we are headed.  The first interview is with Paul Craig Roberts.  Roberts was an Assistant Secretary of the Treasury in the Reagan Administration.  The second interview is with Ilargi, one of the pseudonymous authors of the blog, The Automatic Earth.  They have different perspectives, but similar conclusions. Basically, we're screwed. Read the comments on this post... (Source: The Corpus Callosum) The Corpus Callosum blogs http://www.medworm.com/rss/comments.php?id=2452729 Thu, 04 Jun 2009 04:53:47 +0100 2452729 http://www.medworm.com/index.php?rid=2447929&cid=t_348415_125_f&fid=34820&url=http%3A%2F%2Fwww.dentalblogs.com%2Farchives%2Fadministrator%2Fdrop-offs-for-cosmetic-dentistry-mean-thinking-outside-the-box%2F This article tells us that Sageworks reports dentists have profit margins greater than accountants, legal services, and mining support services, three of the industries in the top five for profit margins. So that’s the positive side of things. In the Baltimore Bizjournals article, Dr. Kellner of Smile Design Center in Lutherville says that patients have money, but they’re being careful about spending it. Here’s what some dentists and doctors are doing to boost business: Promotions – Keller is offering a $199 teeth-whitening procedure, a discount of $201. Clinical Research Associates reports that ¼ or 3300 surveyed dentists now offer discounts and referral incentives. Be sure to have your promotion placed on the front page of your website. Service – A Smile Design Center employe... dental blog for dentists about dentistry blogs http://www.medworm.com/rss/comments.php?id=2447929 Mon, 01 Jun 2009 14:26:24 +0100 2447929 http://www.medworm.com/index.php?rid=2453068&cid=t_348415_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F06%2F01%2Fchaos-theory-lagging-indicators%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily. Lagging Indicators. Posted in Politcal Cartoons, Politics Tagged: economy, Politics Daily, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=2453068 Mon, 01 Jun 2009 14:22:33 +0100 2453068 http://www.medworm.com/index.php?rid=2441173&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fs4bH_Ap6yDI%2F Desperate for fresh revenues to feed the giant spending appetite of President Obama, Democratic policymakers are talking up ‘tax reform’ as a way to reduce the deficit. Some are considering a European-style value-added tax (VAT), which would have a similar effect as a national sales tax, and be a large new burden on American families. A VAT would raise hundreds of billions of dollars a year for the government, even at a 10-percent rate. The math is simple: total U.S. consumption in 2008 was $10 trillion. VATs usually tax about half of a nation’s consumption or less, say $5 trillion. That means that a 10% VAT would raise about $500 billion a year in the United States, or about $4,300 from every household. Obviously such a huge tax hit would fundamentally change the American... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2441173 Thu, 28 May 2009 17:07:21 +0100 2441173 http://www.medworm.com/index.php?rid=2441764&cid=t_348415_109_f&fid=34699&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2Fscienceblogs%2FvjmG%2F%7E3%2FMKARMVsQo84%2Fgreen_shoots_in_graphs.php Courtesy of Chart of the Day... Click on the graphs to see the Chart of the Day explanations for the data. The top chart shows the aggregate earnings, over time, of the companies in the S&P 500 Index.  The second chart shows the ratio between the aggreagte price of the stock, and the earnings of the companies. Oversimplified view: A low price-to-earnings ratio means that you are not paying much, to get a share of a company that is earning a lot.  A high P:E ratio means that you are paying a lot for companies that aren't earning so much.  Although there are many factors involved in determining whether a certain stock is a good investment, a lower P:E ratio is one indicator that suggests that the stock is a good investment. What remains to be seen is whether the ... The Corpus Callosum blogs http://www.medworm.com/rss/comments.php?id=2441764 Mon, 25 May 2009 13:25:26 +0100 2441764 http://www.medworm.com/index.php?rid=2441608&cid=t_348415_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F05%2F25%2Fgetting-a-grip-on-climate-change%2F Last month, Adam Corner wrote a worthwhile editorial, “Time to Gamble on a Post-Carbon World,” for the Guardian. Here are some excerpts. * * * That we engage in tactics of diversion, avoidance, and denial has been documented extensively on these pages. But as if our natural tendency to stick our heads in the sand wasn’t bad enough, the global recession further undermines our confidence. And when we lack self-confidence, facing up to the immense challenge that climate change represents is made all the more difficult. One of the trickiest aspects of getting to grips with climate change is acknowledging that some of our beliefs about the world – say, for example, that private car ownership should be encouraged because it enhances personal freedom – might have to be recon... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2441608 Mon, 25 May 2009 04:01:39 +0100 2441608 http://www.medworm.com/index.php?rid=2424022&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FJfYN8jH9l5A%2F If you like driving a big car or SUV, the good news about Obama’s new fuel-economy standards is that they won’t dictate what kind of car you will be able to buy in the future. If you want to buy a 15-mpg SUV, Detroit (or Aichi or Wolfsburg) will be free to make and sell you one. The bad news is that the standards may make your car more expensive. Corporate Average Fuel Economy (CAFE) standards are actually calculated as the mean of gallons per mile, not miles per gallon. So, as of 2016, for every 15-mpg model made by an auto maker, that company will have to make five models of cars that can go 50 mpg in order for its fleet to meet Obama’s new target. Since bringing each new model to market can cost billions of dollars, if there are not enough people who want to buy those ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2424022 Wed, 20 May 2009 13:04:12 +0100 2424022 http://www.medworm.com/index.php?rid=2424039&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FzrXkWFEfTOw%2F The Obama Administration has announced new fuel-economy regulations and emissions rules that will boost the cost of new car by at least $1300. This is probably another nail in the coffin of the American automobile industry, but Jerry Taylor is the guy to provide thoughtful analysis. When I read about the new White House scheme, the first thing that came to my mind was this extremely clever video (yes, I am envious that my videos are not this creative) about the type of car we will all be driving if politicians continue to run amok: (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2424039 Tue, 19 May 2009 14:14:24 +0100 2424039 http://www.medworm.com/index.php?rid=2416796&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FIB9XXAMEvwQ%2F Thomas Jefferson famously opined that “the natural progress of things is for liberty to yield and government to gain ground,” but Canada has bucked that gloomy forecast in recent years. As my co-authored op-ed in the Washington Post yesterday showed, Canada has: Cut government spending Cut government debt Balanced its budget consistently Pre-funded its version of Social Security to make it solvent Decentralized power within its federation of provinces Cut taxes, particularly corporate taxes  Meanwhile, the United States has headed in the opposite direction in each of these policy areas. Consider further that Canada has other economic policy advantages over the increasingly uncompetitive welfare state to its south: Canada has more liberal immigration policies for highly... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2416796 Mon, 18 May 2009 19:01:06 +0100 2416796 http://www.medworm.com/index.php?rid=2416802&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F1c3gTc551gg%2F Steve Moore and Art Laffer have an excellent column in today’s Wall Street Journal. They explain that high-tax states drive repel entrepreneurs and investors, leading to a pronounced Laffer Curve effect. Productive people either leave the state or choose to earn and report less taxable income. And because growth is weaker than in low-tax states, there also is a negative impact on lower-income and middle-class people: Here’s the problem for states that want to pry more money out of the wallets of rich people. It never works because people, investment capital and businesses are mobile: They can leave tax-unfriendly states and move to tax-friendly states. …Updating some research from Richard Vedder of Ohio University, we found that from 1998 to 2007, more than 1,100 people ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2416802 Mon, 18 May 2009 16:27:17 +0100 2416802 http://www.medworm.com/index.php?rid=2414744&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FOLJvSspHGGA%2F Bloomberg reports: General Motors Corp., facing a probable bankruptcy filing by June 1, is telling 1,100 “underperforming” U.S. dealers they will be terminated as the automaker starts shrinking its retail network. Most of the closings will occur by October 2010, and none are happening now, Detroit-based GM said today. The targeted outlets will have until the end of the month to appeal the decisions, GM said, without specifying the stores on the list. The shutdowns are the biggest U.S. automaker’s first step toward paring domestic dealers to a range of 3,600 to 4,000 from 5,969 by the end of 2010. To be sure, it is a very sad day for thousands of workers and businesses around the country.  But we’re in the midst of a deep recession, which may be nowhere deeper than in the auto ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2414744 Fri, 15 May 2009 21:08:20 +0100 2414744 http://www.medworm.com/index.php?rid=2405038&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FN_eTKAOix2M%2F Recently on Leno, President Obama compared some financial products to an exploding toaster. His words: When you buy a toaster, if it explodes in your face there’s a law that says your toasters need to be safe. But when you get a credit card, or you get a mortgage, there’s no law on the books that says if that explodes in your face financially, somehow you’re going to be protected. So this is — the need for getting back to some common sense regulations — there’s nothing wrong with innovation in the financial markets. We want people to be successful; we want people to be able to make a profit. Banks are critical to our economy and we want credit to flow again. But we just want to make sure that there’s enough regulatory common sense in place that ord... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2405038 Wed, 13 May 2009 15:23:22 +0100 2405038 http://www.medworm.com/index.php?rid=2405044&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FNlB6s2uL0CU%2F Editors’ Note: The post below is an expanded version of Tanner’s initial post at this URL. The Social Security system’s trustees have released their annual report on the system’s finances and announced that — surprise — the program’s looming financial crisis hasn’t gone away. Social Security will begin running a deficit by 2016, meaning that just seven years from now the program will begin spending more money on benefits than it takes in through taxes. That’s a year sooner than last year’s report. Of course, in theory, the Social Security Trust Fund will pay benefits until 2037. But even that figure is misleading, because the Trust Fund contains no actual assets. Instead, it contains government bonds that are simply IOUs, a measure of how much money the ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2405044 Tue, 12 May 2009 20:36:44 +0100 2405044 http://www.medworm.com/index.php?rid=2405521&cid=t_348415_111_f&fid=36048&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FAHeartyLife%2F%7E3%2FY--vKwEGa0c%2F Summer breaks are coming soon to many lucky people. For some, this means staying at home and relaxing, for others it means traveling to visit family and friends or to explore new places. Of course, when we travel, we want to stay healthy so we get vaccinations if we need and we be sure to take necessary medicaitons with us, but what about unforeseen problems, like deep vein thrombosis (DVT)? What’s that you say? DVTs are blood clots that form in deep veins in your body - most commonly in the legs, but they could happen anywhere a deep vein exists. The vein sits along the vein wall and, if big enough, it can slow or block blood flow. But worse, if it breaks off - it could travel to your lung and cause a pulmonary embolism , a clot in your lung, which could lead to death. What has this... A Hearty Life blogs http://www.medworm.com/rss/comments.php?id=2405521 Mon, 11 May 2009 08:34:26 +0100 2405521 http://www.medworm.com/index.php?rid=2398595&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FdosPwWxBMmk%2F President Obama’s estimated $17 billion budget cuts for fiscal year 2010 amounts to a measly .5 percent of the president’s total proposed spending, and 1.5 percent of the president’s proposed deficit for the coming fiscal year. His offerings to cut the budget should be dismissed as unserious. In fact, this is reminiscent of the Bush administration’s annual list of minuscule proposed cuts in the face of profligate spending and mounting federal debt. President Obama says his efforts “are just the next phase of a larger and longer effort needed to change how Washington does business and put our fiscal house in order.” Promising more spending and more debt while celebrating relatively insignificant cuts and ignoring the looming entitlement crunch represents businesses as usual, not... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2398595 Thu, 07 May 2009 18:09:00 +0100 2398595 http://www.medworm.com/index.php?rid=2389653&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Ft7bPpwrc5dg%2F The ever-sensible Shaun Waterman has begun to tally the cost of overreaction to the fear outbreak inspired by the H1N1 flu strain. He reports in ISN Security Watch: Even the precautions that you take against this kind of global flu pandemic could knock about 1.9 [or] 2 percent off global [economic production]. That’s about a trillion dollars,” according to journalist Martin Walker, who cited World Bank figures from a study last year. The Economist reported last week that the crisis in Mexico was costing Mexico City’s service and retail industries $55m a day - not because of the handful of deaths but because of people’s reactions. And that was even before the national suspension of non-essential public activities called for this week by the authorities there, which was expected to d... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2389653 Wed, 06 May 2009 18:54:38 +0100 2389653 http://www.medworm.com/index.php?rid=2389664&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F4OyzVrtztoU%2F With the economy in a deep recession and policymakers turning to massive government intervention in an attempt to create jobs and bolster the financial system—it feels like the 1930s all over again.  Today’s new New Deal is rapidly unfolding, with the Obama administration and many lawmakers making it clear that any question of the success of FDR’s New Deal policies was resolved long ago: government intervention worked, and history bears repeating.   However, there are deep disagreements about the New Deal, and whether Roosevelt’s policies deepened the depression and delayed recovery.  Join us at the Cato Institute on June 1 to be a part of a highly informative half-day conference. Recognized national experts will discuss the economic and legal impact of the New Deal, and how i... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2389664 Tue, 05 May 2009 15:11:37 +0100 2389664 http://www.medworm.com/index.php?rid=2386828&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FyYxaQssHdR0%2F So far the Obama administration has been enjoying the ultimate fiscal free lunch.  Massive borrowing, massive spending, lower taxes, and low interest rates. Alas, all good things must come to an end. Reports the New York Times: The nation’s debt clock is ticking faster than ever — and Wall Street is getting worried. As the Obama administration racks up an unprecedented spending bill for bank bailouts, Detroit rescues, health care overhauls and stimulus plans, the bond market is starting to push up the cost of trillions of dollars in borrowing for the government. Last week, the yield on 10-year Treasury notes rose to its highest level since November, briefly touching 3.17 percent, a sign that investors are demanding larger returns on the masses of United States debt being issued to ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2386828 Mon, 04 May 2009 12:50:52 +0100 2386828 http://www.medworm.com/index.php?rid=2386952&cid=t_348415_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2009%2F05%2F03%2Fif-only-keeping-you-stuck-and-frustrated%2F Two words. Six letters. So much potential for destruction. You say it to yourself and so do I, sometimes without even realizing it. Do you even realize how powerful it is? If only I had more time, I would exercise. If only my parents weren’t so annoying, I’d be less stressed. If only I had a bigger house, then I’d be more organized. If only, if only, if only…You know, it isn’t just the “if only” part that is so damaging. By itself, it just a harmless wish or fantasy. It’s saying “then”, as if you only have permission to have this better outcome when the first part happens. Let’s break this down once, shall we? Take the example about having a bigger house and being more organized. I threw this one in for me. We still live in... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=2386952 Sun, 03 May 2009 16:44:08 +0100 2386952 http://www.medworm.com/index.php?rid=2382569&cid=t_348415_109_f&fid=34699&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2Fscienceblogs%2FvjmG%2F%7E3%2F4Zi3Q5ZR6tM%2Fcorporate_welfare_in_perspecti.php Barry Ritholtz, author of Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy,  has a nice, terse, thought-provoking post on his blog: The Big Picture: US vs Europe: Who is the Welfare State? By Barry Ritholtz - May 1st, 2009, 10:25AM Today is May Day, and while International Workers' Day (Labour Day in the UK), means little in the USA, its a big holiday in Europe. Banks and markets are closed on the continent, (England celebrates on Monday). Speaking with Mike Panzner this morning (his clients are mostly Europeans) made me think about this:  Which region is the true Socialist state?     -Europe has cradle to grave health care plans, generous unemployment benefits, and free or subsidized college costs.     ... The Corpus Callosum blogs http://www.medworm.com/rss/comments.php?id=2382569 Sat, 02 May 2009 05:13:57 +0100 2382569 http://www.medworm.com/index.php?rid=2380725&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FKYjFx7RRtMI%2F Yesterday the House and Senate passed a bloated $3.5 trillion budget blueprint for fiscal year 2010.  According to House Speaker Nancy Pelosi (D-CA), “What is important to us as a nation is reflected in this budget. It’s a very happy day for our country.” Included in the blueprint is language that calls for an equal pay raise between military employees and civilian federal employees.  President Obama had originally proposed slightly higher pay for members of the armed services.  The exact pay raise for bureaucrats will be determined in the appropriations process, but it’s likely to be a hike of anywhere from 2.9% to 3.9%.  This would come on top of last year’s 3.9% raise. Omitted from the blueprint was language included in the Senate version by Sen. Tom Co... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2380725 Thu, 30 Apr 2009 15:17:53 +0100 2380725 http://www.medworm.com/index.php?rid=2380728&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FTH9YJzJh5n4%2F A coalition of more than 70 groups around the world, from Canada to Brazil to Kyrgyzstan to Germany to China to Japan to Kenya, has joined together to stop the dangerous stirrings of protectionism.  The FreedomToTrade.org coalition (coordinated internationally by the Atlas Economic Research Foundation and the International Policy Network) has circulated a petition (signed by over 1,000 economists and thousands of others) and is now producing documentaries to alert the public to the dangers posed by protectionism.  This one is on the role the Smoot-Hawley Tariff played in turning a serious recession into the Great Depression. The mini-documentary is also being made available in 12 other languages.  The Spanish version will be available on Cato’s Spanish-language project, ElCato.or... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2380728 Thu, 30 Apr 2009 13:41:00 +0100 2380728 http://www.medworm.com/index.php?rid=2380734&cid=t_348415_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F0Qzsts6wkpI%2F Billions and billions of dollars! Get yours today! I’ve written before about the massive lobbying game in Washington to get your own special interests written into the stimulus and budget bills. And about the efforts to pressure governments into spending that money NOW. Today a friend sent me a new piece of the incredible expanding stimulus economy. A publishing company has created a new newsletter on how to keep up with “ever-changing opportunities and the complex requirements to apply for them” — The Money for Main Street Monitor. Yes, for only $229 a year, with this special offer, you can keep up with the lucrative and ever-changing “new stimulus funding opportunities.” I’m omitting the specifics so as not to give this parasitical industry any... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2380734 Wed, 29 Apr 2009 21:20:08 +0100 2380734