Sometimes true costs are hidden by backloading them. Originally published in the New York Times. Americans of a certain age may remember J. Wellington Wimpy, a droll character from Popeye cartoons. “I’ll gladly pay you Tuesday for a hamburger today,” Wimpy would periodically implore passers-by. That pretty much summarizes the opaque budget math behind the two huge […]
It’s not time yet to be raising interest rates. But let’s at least stop pouring $120 billion a month into the financial markets. Originally published in the New York Times. On Wednesday the Federal Reserve tiptoed ever so slightly toward reducing its efforts to pump liquidity into the financial system. It did so through brief references that […]
The president wants to pour billions more into a service that only makes sense in a few areas. Originally published in the New York Times. Ah, the romantic suspense of train travel: Cary Grant and Eva Marie Saint canoodling in “North by Northwest.” Farley Granger and Robert Walker conspiring in “Strangers on a Train.” While […]
The president should lean more heavily on the private sector to boost his infrastructure plan’s odds of success. Originally published in the New York Times. The Biden administration has put forward the biggest, boldest, most expensive expansion of government in at least a half-century. The goals listed are on target and its sweeping ambition is welcome, […]
Fears were overblown for years. But let’s not be blasé about how hard it could be to halt high prices if they haunt us again. Originally published in the New York Times. We are all, to one degree or another, shaped by early experiences. My father grew up during the Depression and never lost his fear […]
But his opening proposal should be more targeted to the most needy. Originally published in the New York Times President Biden’s proposed $1.9 trillion Covid relief plan contains many commendable provisions, from money for speeding the vaccine rollout to aid for struggling states and cities. That said, the measure, the American Rescue Plan, is also partly […]
A tour of the major trends, from Covid-19 spread to political polarization, that affected Americans this year. Originally published in the New York Times. If 2019 was the Year of Trump, then 2020 was the Year of Covid-19 and Trump. Only the most devastating pandemic in a century could have bumped our loudmouthed president into second place. […]
Even though significant compromises will be required in Congress and not every progressive idea will be embraced. Originally published in the New York Times Here we are, just four weeks past Election Day, and renewed skirmishing has already broken out within the Democratic Party. Having mostly rallied behind Joe Biden after the primaries, progressives now […]
Biden needs to counter the president’s positive economic approval ratings with the facts. Originally published in the New York Times By most measures, President Trump’s poll ratings have long been loitering below the waterline, even more so since the pandemic swept through the United States, killing more than 220,000 and devastating the nation’s economy. That is, by […]
Don’t believe the story that Trump will tell at the Republican convention. Originally published in the New York Times As Republicans take the virtual stage for their convention this week, expect to hear much chest pounding about how great the economy has been under Donald Trump’s leadership and how fast it is coming back from […]
