Category: government
Governments Innovate in Response to Fiscal Crisis
Who says governments can’t be innovative. AZCentral reports on ways local governments there are creatively responding to the fiscal crisis: Responding to a growing demand for library services in east Mesa, the city in 2011 opened an express library at a vacant strip mall for $360,000 rather than building a stand-alone library for as much [...]
View PostIs Canada Drinking the Austerity Kool Aid?
Thus far, our stolid neighbor to the north has managed to avoid the worst of the global crisis, thanks to a common-sense moderation that is almost tedious to observe. They didn’t go in for massive bank deregulation, they have a pretty high-functioning health care system, the list goes on and on. But now there are [...]
What a Fiscal Drag
That’s what JP Morgan thinks we got from the debt limit agreement. They see four consequences of the deal: 1) No default. This had always been a low probability (<1%) very high cost outcome, which now seems off the table. 2) An eventual S&P downgrade is still more likely than not, though we think this [...]
Who’s Your Debt Daddy?
Amid all of this foolish brinkmanship, it might be worth remembering who owns our national debt. The Congressional Quarterly has an interesting interactive chart here. You can also see the past (noncontroversial) history of the US debt limit here.














