Do You Pay Your Credit Cards: Economics of the Federal Debt Ceiling

April 4, 2011 Leave a comment

This is pretty simple.  Debt come from past ceiling.  If you want to lower future debt and debt ceilings, then stop spending growth now.   The core problem is constraining Medicare spending, certain out of control subsidies tax cuts for the wealth, military spending and, to a lesser extent, social security spending.

If you spend your income on things you want, and the charges then show up the following month on your credit card bill, would you pay those charges? Yes, of course you would. You’ve made purchases and the bill has come due.

That’s the whole question about raising the debt limit—whether Congress should allow the government to pay for spending that has already been approved by Congress.

via Raising the Federal Government’s Debt Ceiling – Brookings Institution.

Filed under Economy, Finance

URGENT: Weakening Citizens’ Challenge to Local Development Decisions

April 1, 2011 1 Comment

I bring this matter to your attention, and especially to those who are concerned about ensuring organized community development and protection of the environment.

Please Call the Members of the Senate Environment and Preservation Committee and Oppose SB 1122
April 1, 2011

Senate Bill 1122–Your calls are needed to oppose the damaging Senate Bill 1122. While this bill establishes Alternative State Review as the amendment process and keeps language more favorable for citizen challenges to inappropriate local development decisions it still has a number of damaging provisions. It eliminates Rule 9J-5, thus eliminating years of favorable legal rulings regarding citizens’ rights to challenge local development decisions, urban service boundaries and other critical issues. It removes local government authority to require supermajority votes on development decisions, and has numerous other provisions of concern. Click herefor technical comments on the bill. Please call the members of the Senate Environmental Preservation and Conservation Committee and tell them to oppose this damaging bill which undermines Florida’s growth management process.

Senate Environmental Preservation and Conservation Committee

To find out more about what’s happening this session, please visit 1000 Friends atwww.1000friendsofflorida.org.

 

Filed under Business and Commerce, Economy, Florida, Housing, Miami-Dade County

Long-Term Economic Impact of Japan Disaster Is Likely Smaller Than Thought

March 24, 2011 Leave a comment

This explains that the actual permanent impact of significant disasters have been relative less than thought and that is likely to be the case in Japan.

…while the fear is understandable, this may turn out to have been an overreaction: history suggests that, despite the terrifying destruction and the horrific human toll, the long-term impact of the quake on the Japanese economy could be surprisingly small.

via Japan and the Economics of Natural Disasters : The New Yorker.

Filed under Economy, Environment, International

Nothing to Add to This: Jobs or War

March 22, 2011 Leave a comment

We have enough money to pay for military action in Libya, but not for job creation?

via Economist’s View: Revealed Preference.

Filed under Economy

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