In 2012, U.S. consumers purchased over one million more new cars than the year before. This year, we’re expected to buy nearly one million more than in 2012. And in 2014? Yep, auto sales are projected to increase by another …
Economy
Why the Fiscal Cliff Deal Should Have Included Social Security
Social Security may not add to the deficit, but it does add to the national debt. Fortunately, it’s easy to fix this.
Four Misconceptions About Taxes and the Deficit
A misguided response to the fiscal cliff could risk a recession while doing little to solve long-term financial problems
Do We Have Another Financial Bubble On Our Hands? Or Three?
Multiple debt markets are facing big trouble because of excessive borrowing and the Fed’s easy-money policies.
Why the Fiscal Cliff May Cost You $6,000 in 2013
You can’t turn on the television or open a magazine these days without hearing or seeing the term fiscal cliff. The media is awash with reports of President Obama and Speaker John Boehner’s negotiations over tax increases and …
Why Yesterday’s Fed Announcement Is a Big Deal
The Federal Reserve is a famously inscrutable institution. Given their ability to move markets, Fed officials have long been in the habit of speaking in careful, jargon-laced language that is often constructed with the express …
Good News: Young Americans On the Move Again
American mobility is on the rise — at least for now.
Fixing Inflation Adjustments Is the Smart Way to Shrink the Deficit
Limiting future increases in government spending will be less painful than making sudden deep cuts in current programs.
The Bad News Behind the Good Jobs Numbers
Never underestimate the importance of expectations. While most of us were bracing for a poor jobs report due to the disruptive effects of Hurricane Sandy, the headline numbers of 146,000 jobs added in November and a four-year-low …
Is The Housing Recovery Just an Illusion Created by the Federal Reserve?
It’s now conventional wisdom that the housing market — once the anchor that sank the American economy — is the ballast that’s keeping it afloat, however tenuously. The Case-Schiller index of home prices, released last week, …
The Best Way to Cut Government Spending: Get Really Tough on Fraud
Fraud and improper payments for government programs amount to $125 billion a year. Reducing those losses substantially would avoid a lot of painful cuts.
Oh No, Canada! Are We Watching Another North American Financial Crisis Unfold?
For some time during and after the financial crisis, it was fashionable to point to Canada as a paragon of fiscal and regulatory prudence. In the years leading up to the crisis, the Canadian government ran budget surpluses, which …