Taxing solutions will emerge from federal budget negotiations

The election is over. The Sunday morning gab shows suddenly found a purpose, interviewing serious Senators and other concerned about the work that the new (and first old!) Congress will face – particularly the “Fiscal Cliff”. A tremendous amount of movement on the Republican side shows that tax increases, particularly coming as reform in the deductions allowable, is definitely on the table. Continue Reading

While Europe burns: We can ignore Europe’s crisis, but we’d do better to learn from it

It’s been a long time since I wrote about Europe. How many ways can a humble blogger say, “Nothing has really changed”? Nothing has. Currency union has turned into a straightjacket of austerity and the European Union is plunging into a deep recession. The only true news has been a day of protest across Europe, fueled in part by the now 25% unemployment rate in Spain and other nations. It has become a full meltdown. Continue Reading

A Fiscal Cliff primer

The phrase is often credited to Ben Bernanke, but variations of it have been around for decades. The “Fiscal Cliff” that went largely unmentioned during the campaign now dominates the talk out of Washington. It is probably the most important thing that will happen in the next Congress, and it will certainly set the tone for the end of the Obama administration. Yet almost no one has taken the time to explain what’s at stake in plain language. Continue Reading

Breaking the oil cycles

News shown out over the highway in big glowing numbers – 3.289, a number lower than anyone had seen in a while. That was the price per gallon of gasoline the last time the little purple car was filled up and piloted back down the highway. A few months earlier it was 3.929 at the same station, about 20% higher or $7.68 over a tankful. How can that possibly be? Continue Reading

Income inequality: We have to talk about it to fix it

Income inequality is one of those things that we find almost impossible to talk about in US politics. Simply raising the issue automatically leads to charges of “class warfare”, a term that is empty enough in meaning to raise emotions without much intellect. Yet it is important. Continue Reading