Budgets & Deficits

10
May

What The Fed’s Rate Hike And The 1st Quarter Contraction Means… And Doesn’t Mean

Given the frenzied and contradictory economic news lately, I wouldn’t blame anyone for having a bad case of whiplash. It’s difficult to get a read on what’s happening when the headlines flip between bull and bear faster than the stock market. One moment the discussion is about labor shortages restraining growth even as the administration pitches new relief efforts, how

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3
Nov

Why GDP Growth Should Slow… And Why It Won’t

In the 3rd quarter, U.S. GDP grew by 2%, down from an almost 6% pace over the three preceding quarters. Weak growth in consumer spending, with a sharp drop in spending on durables, is the primary culprit. Business investment slowed as well. Not surprisingly, the relatively weak number has led to an abundance of hang-wringing by pundits and many in

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24
Feb

Miserabilism and Money: Why More Stimulus Is A Bad Idea (part 2)

18
Feb

Miserabilism and Money: Why More Stimulus Is A Bad Idea (part 1)

3
Jun

Autonomous Cars On The Way… What Do They Mean For Infrastructure Investment?

Here in Los Angeles, the first thing visitors learn is that our public transportation system won’t get them anywhere. The second thing they learn is that, according to legend, Henry Ford is the reason why. Car manufacturers (tire manufacturers in some retellings) tore up all of the train lines in Los Angeles in the early 20th century to make way

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10
Mar

School Construction Bonds: A Matter of Fairness

Governor Jerry Brown announced in his recent budget proposal that California should stop issuing school construction bonds. This came as a bit of a surprise to many. School bonds generally cruise through the State Legislature and very rarely fail at the ballot box. The State Assembly unanimously passed a $9 billion bond initiative last year before it stalled with the

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