By Will Portman Critics of a balanced budget amendment (BBA), such as the Center on Budget and Policy Priorities (CBPP), argue that a BBA would “mandate perverse actions in the face of recessions” and thus “aggravate recessions.” And they’ve got a point — at least about a BBA that would mandate that the budget be balanced … Continue reading
Monthly Archives: April 2012
Buffett Rule: #FAIL
“So we have a consensus. Nobody likes the Buffett Rule,” said Howard Gleckman, resident fellow at the Urban-Brookings Tax Policy Center and moderator of a forum today on whether the rich should pay higher taxes. The event’s expert panelists may not have agreed on what our tax code should look like, but they did agree … Continue reading
Another Example of Why the United States Will Never “Win” Its War on Drugs
The United States is most assuredly not winning the war on drugs. Anyone who tells you otherwise is woefully uninformed or playing politics. The most recent example of how badly the United States is losing this war can be evidenced by its decision to adopt counter-measures to the Mexican drug cartels’ newspaper advertisement campaign. I … Continue reading
Economic Daily Outlook
THURSDAY, APRIL 12, 2012 ECONOMICS: Treasury Faulted in Effort to Relieve Homeowners http://www.nytimes.com/2012/04/12/business/economy/treasury-department-faulted-in-effort-to-relieve-homeowners.html A fund to support homeowners in the communities hit hardest by the collapse of the housing bubble has disbursed just 3 percent of its budget and aided only 30,640 homeowners in the two years since its creation, according to a report … Continue reading
Open Letter to Álvaro Uribe
Mr. Uribe, first and foremost I must respectfully express my gratitude for what you and your policies have done for my country of birth. Once on the verge of being deemed a “failed state,” Colombia is now a safer and more prosperous country. Your Democratic Security initiative and other policies laid the groundwork for Colombian … Continue reading
Economic Daily Outlook
WEDNESDAY, APRIL 11, 2012 ECONOMICS: Obama Goes on Offensive Over Taxes on Wealthy http://www.nytimes.com/2012/04/11/us/politics/obama-to-make-case-for-buffett-rule.html All but certain now that his Republican opponent will be Mitt Romney, President Obama has made his proposed “Buffett Rule” minimum tax for the wealthiest Americans like Mr. Romney a centerpiece of his re-election campaign, defying the political risk of … Continue reading
A Lesson for Future Mexican Presidential Candidates
Last week I stood by my earlier prediction that the Institutional Revolutionary Party (PRI) will return to the Mexican Presidency in July’s election, which I believe will be won by Enrique Peña Nieto. This Monday, the Parametria firm published a poll indicating that Peña Nieto has an 18-point lead over the incumbent National Action Party’s … Continue reading
DeMarco Hints at Principal Reduction Decision
The director of the Federal Housing Finance Agency (FHFA) announced today that with additional incentives, funded through TARP, a program of principal forgiveness through Fannie Mae and Freddie Mac, the Government-Sponsored Enterprises (GSE), might now make more sense. While making no official announcement, FHFA Director Edward DeMarco said that the additional funds would make such … Continue reading
Economic Daily Outlook
TUESDAY, ARPIL 10, 2012 ECONOMICS: White House highlights tax fairness ahead of Obama speech http://www.reuters.com/article/2012/04/10/us-usa-campaign-obama-buffett-idUSBRE8390CZ20120410 Taxes for America’s highest earners have fallen sharply since 1995, according to a White House report on Tuesday, released ahead of a speech by President Barack Obama on fairness in the tax code that is a key part of … Continue reading
Formal Criminal Alliances Pose a Major Security Threat to the Americas
A recent report from Guatemalan authorities focuses on a formal alliance between two major criminal entities: the Mexican Zetas cartel and the Mara Salvatrucha (MS) street gang that operates throughout Central and North America. Informal and temporary alliances are often formed between criminal groups, but this is the first report of a formal alliance. Such … Continue reading
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