Allan R. Bevere discusses the recent report of the bipartisan commission on the deficit. The new is not good, but it is also not surprising.
In Preserving Democracy, chapter 2, “Taxes and the Welfare State” discusses spending, taxation and the deficit, and these topics are taken up in chapter 10, “The Never Ending Struggle,” where recent massive increases in the deficit are discussed.
… try more government! From Preserving Democracy: In the chapter on planning and control, I wrote that the failure of government planning normally results in even more government planning. This pretty much summarizes the current financial problems. (p. 259) Links News Stories: TARP Panel: Effects of AIG Rescue “Poisonous” Financial Reform Could Whack TARP Banks…
That’s not what the post is actually about, but Hot Air discusses a story that Rahm Emmanuel may want out of the White House or alternatively it may be folks from the left wanting to push him out. The reason? Amongst many others, it is believed he would accept a compromise on Cap and Trade…
Elgin has posted a new blog: A Failure of Capitalism? Includes a discussion of Mark to Market and other fascinating material on the road into our current economic crisis.