We welcome the public convenience, safety benefits and economic advantages that flow from revitalizing our infrastructure. Moody’s estimates that $1.44 is returned for each infrastructure dollar invested. The case for upgrading infrastructure sounds straightforward, but the depth and scope of upgrade, the competing claims on federal funds and other political agendas make infrastructure a complex […]
Twenty-one nonprofit groups submitted a letter to members of Congress asking them to be mindful of using a competitive bidding process when considering appropriations and legislation related to revitalizing the Nation’s aging infrastructure. By one estimate, open competition rules would save the federal government hundreds of billions of dollars. The coalition letter is available online.
Get used to hearing “trillion” – i.e., a million millions. Two decades ago, I heard a politician lament about government spending, “a million here, a million there, pretty soon you’re talking real money.” Today, Wall Street and Washington DC are awash in discussions of financial and economic factors that need measuring with a trillion dollar […]
This op-ed, published in The Hill’s Congress Blog, discusses legislation designed to allow Puerto Rico to shaft its investors in order to dig itself out of its spending spree. To read the piece, visit The Hill.
Most consumers would welcome some events again; the birth or college graduation of a child, paying off our mortgage, or man on the moon. But government shutdown and debt ceiling “chicken” are not on the welcome list. In October this year, politicians grossly overestimated their constituents’ support for a budget grudge match. Those hostilities may […]
Earlier we noted surprises in the budgetary emphasis on energy and transportation. Without prose to explain its retreat, the White House slashed spending in its quest for cars that run on pure green thoughts. All that remains is deep seated hostility to most families’ means of transportation. Some of the biggest reductions in the budget […]
Chicken Little lacked the aggressiveness of DC’s political fabulists, but he was just as wrong. The sequester has real consequences, yet in our world the sky is not falling. And despite stylish braying, when we awaken tomorrow grannie and the little kids will still be alive and cared for. The spending cut of $1.2 trillion […]
Congress and the President need to extend all of the prior administration’s tax cuts and do this immediately. Given the current teetering economy, an increase in dividend, capital gains and income taxes will only reduce consumer disposable income and harm the economy. For this piece, however, let’s begin reform of the tax code …. A […]
As most anyone can see, federal spending has gotten out of control. As you read this, the so called “Super Committee” is looking for ways to cut billions from the federal budget in an attempt get spending under control and, hopefully, right the drifting ship that is our economy. While most agree that Congress needs […]
Reminiscent of a Stasi leg-breaking, Argentina persecuted economists for publishing inflation estimates that exceed the banana republic’s official estimates. Encouraged by those soul-mate vaqueros, Italian politicians started a regulatory shootout with S&P and Moodys for publicly saying a downgrade may result from Italy’s excessive levels of sovereign debt. The spaghetti western ended a few days […]