Pay As You Earn: Not the Solution to Student Debt Crisis
America / Culture / Debt / Economy

Pay As You Earn: Not the Solution to Student Debt Crisis

President Obama’s expansion of the Pay As You Earn program for student loan payment while earning support still fails to fix the root of the student debt problem. The expansion allows for more people to become eligible for their student loan payments to be capped at 10 percent of their monthly income, which is based … Continue reading

The Affordable Care Act Aims High for Fiscal Irresponsibility
Affordable Care Act / Debt / Medicaid Expansion

The Affordable Care Act Aims High for Fiscal Irresponsibility

In budgetary terms, the Affordable Care Act (ACA) is anything but affordable. Though well-intentioned, it expands a poorly designed program and adds significant spending during a time of slow economic growth. This attempt to improve and expand health coverage to uninsured Americans is unduly expensive. In an already strained fiscal climate where the federal budget has reached … Continue reading

HUD’s Latest Proposal Brings Moral Hazard into Rental Housing
Debt / Economy / Politics

HUD’s Latest Proposal Brings Moral Hazard into Rental Housing

The 2008 Financial crisis was a costly lesson in the dangers that come with subsidizing risk. Fannie Mae and Freddie Mac are well recognized as the principal creators of moral hazard by reimbursing investors that held mortgage-backed securities when homeowners failed to make payments on their mortgages. Yet only five years after the worst of … Continue reading

Egoism Over Action: The Thoughtlessness Behind the Latest Budget Talks
Debt / Economy / Fiscal policy

Egoism Over Action: The Thoughtlessness Behind the Latest Budget Talks

For those in the D.C. metro area, this month has been pretty normal. Employees were furloughed. The government shut down. Partisan bickering continued. The city was placed on high alert after a failed attempt to break through White House security, which led to a car chase down Constitution Avenue. Congressmen realized their approval ratings would … Continue reading

4 Reasons Why the Reinhart-Rogoff Fiasco Doesn’t Change Anything
Debt / Economy

4 Reasons Why the Reinhart-Rogoff Fiasco Doesn’t Change Anything

Two weeks ago, a grad student at UMass Amherst discovered a spreadsheet error in the Reinhart-Rogoff (R-R) paper, a paper that many austerity advocates cited as proof that too much debt cripples economic growth. In the days and weeks after the spreadsheet error fiasco, many were quick to draw significant implications from this event, calling … Continue reading

High Percentage Rate of Uninsured Population Across the United States
Debt / Healthcare / Medicaid / Medicaid Expansion

High Percentage Rate of Uninsured Population Across the United States

Last week, Gallup released a report analyzing 43 U.S. Metropolitan areas and found that more than one in five Americans are uninsured. The study looked at the top 10 areas with the highest percentage rate of uninsured individuals, not surprisingly, located in highly populated states: California, Florida, Texas, Nevada, and Washington. The survey was among … Continue reading

Debt / Economy / Healthcare / Medicaid / Medicare / Tax

The President’s Budget Proposal Clashes with Health Care Priorities

The White House finally released the President’s FY 2014 budget proposal last week. Not only has it garnered the media’s attention due to the fact that President failed to keep his deadline (more than two months late) but also both the Democrats and Republicans are equally unsatisfied with the President’s proposal. Here are some key … Continue reading

Social Security: A Little Reform Today Might Solve a Big Problem Tomorrow
Debt / Economy / Fiscal policy / Taxes

Social Security: A Little Reform Today Might Solve a Big Problem Tomorrow

The CBO’s budget and economic outlook, released last week, looks bleak. And one of the drivers of future budget shortfalls? Social Security. During the Feb. 13th house budget hearing on CBO’s outlook, Rep. John Campbell (CA) asked Doug Elmendorf – CBO Director – if we were in a pickle with regards to the U.S. budget. … Continue reading

Economics Made Easy: Does the U.S. Have too Much Debt?
Debt / Economy / Fiscal policy

Economics Made Easy: Does the U.S. Have too Much Debt?

On Wednesday, January 25, Congress voted to raise the debt ceiling to allow more government spending until about May of this year. The sequester’s forced automatic spending cuts go into effect March 27th. Debt, spending, “fiscal cliff’, budgets, etc. keep Americans on the verge of a heart attack, and many find themselves wondering: how much … Continue reading

Let He Who Is Without Sin Cast the First Stone
America / Debt / Economy / Fiscal policy

Let He Who Is Without Sin Cast the First Stone

By Chris Hartline The American political system is broken.  Congress is broken.  Our representatives don’t represent us.  These are common refrains you hear particularly outside of Washington – though inside as well – and they possess some semblance of truth. The 112th Congress was the most unproductive Congress in 60 years and the 2nd year of … Continue reading