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Facts? We Don’t Need No Steekin’ Facts

October 16, 2013 Congress

The current craziness in Washington would be bad enough if it were based on actual facts. It isn’t. Nevermind that “austerity” as a policy emphasis is counterproductive while the economy is still sluggish, unemployment remains high, and the economy could be more robust without inflation … despite the political rhetoric and the conventional wisdom from […]

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The Tail of the Recession

April 6, 2012 Cities

Even though the most recent “Great Recession” is officially over and even though it appears we are slowly emerging from its aftermath, governmental finances have not escaped its gravitational pull. The recession was bad enough. Many communities, which were economically strapped to begin with, started with a small buffer and are just now running out […]

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Well, it’s Not Like Local Governments are all Flush. Krugman on the Economic Effects of Municipal Retrenchment

March 5, 2012 Budget

In Today’s New York Times, Paul Krugman writes States of Depression. In discussing the sluggish economic recovery, he says: But one significant factor in our continuing economic weakness is the fact that government in America is doing exactly what both theory and history say it shouldn’t: slashing spending in the face of a depressed economy. […]

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And Speaking of Cash

November 17, 2011 Cash

I haven’t seen the original report so can’t even attempt to validate the headline, but here’s a story on the risk that given its current trajectory, the City of Detroit will run out of cash by April, 2012.

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I’m not the only one

July 28, 2011 Budget

Lawrence O’Donnell just said the solution would be for Boehner to get the Democrats and about 50 “not-crazy” Republicans to pass the debt ceiling increase. Same strategy as I mentioned here. But then he pointed out that Boehner has never done anything to draw Democratic votes. Oh well.

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Postponed House Vote on Debt Ceiling

July 28, 2011 Budget

At this point, the House Republicans has postponed the vote on Boehner’s bill extending the debt ceiling and cutting the budget. Right now, the Republicans don’t have the votes to even pass their own bill. Reminds me of an incident years ago in the NYS Assembly. The parties and positions were the inverse of what […]

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If the Federal Government decides not to pay its bills

July 19, 2011 Default

Mathew Yglesias does a nice summary of how the pain (and whatever) will roll downhill if the Federal Government decides not to pay its bills. Actually, Yglesias says “can’t pay its bills.” I think it’s a matter of Congressional choice. Note which states are most likely to suffer the most.

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