December 16, 2011 | 8 comments
December 15, 2011 | 3 comments
December 15, 2011 | 0 comments
December 14, 2011 | 39 comments
December 14, 2011 | 4 comments
In Bloomberg View, the economists Scott R. Baker, Nicholas Bloom, and Steven J. Davis provide some intellectual backing for one of the GOP’s most frequently repeated talking points: that policy uncertainty is harming the economy. Specifically, they believe that if there were as only as much uncertainty about future government policies today as there was in 2006, the economy would add 2.5 million jobs over 18 months.
They measure policy uncertainty using three factors: “the frequency of newspaper articles that refer to economic uncertainty and the role of policy, the number of federal tax code provisions set to expire in coming years, and the extent of disagreement among forecasters about future inflation and government spending.”
Here’s the graph of uncertainty, as measured by that index:
The authors don’t claim that policy uncertainty is the only cause of the weakness of the recovery, nor do they say that reducing uncertainty will solve all our problems. But their article does point to the conclusion that getting rid of uncertainty would be low-hanging fruit for Congress.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?