By now you’ve probably heard about or seen the consequences of Frankenstorm Sandy, especially along the Jersey Shore and in the five boroughs of the New York City metropolitan area. The evacuation of NYU Hospital. The flooding of the New York City subway system. The shutdown of the New York Stock Exchange on consecutive days due to weather for the first time since 1888. The transformer explosion on 14th Street which cut power to most of Manhattan below 39th Street. The evacuations in Bergen County after a levee broke. The alert at the nation’s oldest nuclear plant. The 16 inches of snow in West Virginia. The 7.5 million people without power.
|By: David Dayen Tuesday October 30, 2012 6:27 am|
|By: David Dayen Thursday August 23, 2012 8:16 am|
It’s not the threat of recession from the fiscal cliff that is despairing so much as it’s the CBO estimate that, even if the fiscal cliff gets put off, we’re staring at anemic 1.7% growth for 2013, and an unemployment rate remaining above 8% by the end of next year. This points to some serious problems with the US economy, and being the “best in the world” at a time of global slowdown is a cold comfort.
|By: David Dayen Monday August 6, 2012 9:30 am|
Nelson Schwartz reports that the prospects of Congress allowing the country to fall over the fiscal cliff, that combination of tax hikes and spending cuts set to trigger at the end of the year, has already led to businesses pulling back on hiring.
|By: David Dayen Friday May 18, 2012 2:33 pm|
The House has passed this year’s defense authorization bill which departs from last year’s debt limit deal by adding $8 billion above spending targets set for the military, and by replacing the defense side of the automatic “trigger” cuts with cuts from elsewhere in the budget.
|By: David Dayen Sunday April 1, 2012 1:10 pm|
Paul Ryan performed a phalange-ectomy today on CNN’s State of the Union today, cleaning up comments he made about military leaders lying to Congress about their true opinions on the defense budget.
|By: David Dayen Sunday March 25, 2012 5:00 pm|
|By: David Dayen Monday February 13, 2012 8:55 am|
The FY 2013 budget that the Administration will release today is, in the long run, a meaningless document in substantive terms, so I don’t want to spend that much time on it. But I was a little surprised with the pushback I received about my assessment that it reflects a shift in tone rather than policy. It’s a simple fact that the Administration has wanted a deficit deal for some time, and that this budget will build in a deficit deal. They’re going about it in a smarter way with a higher bid in the negotiations.
|By: David Dayen Tuesday January 17, 2012 11:21 am|
I’ve seen a spate of stories recently suggesting that a economic recovery is fated to happen by 2013, and whoever wins the Presidential election will be able to claim the mantle of the “recovery President.” This is far too deterministic a take for me. There is such a thing as a business cycle, but to suggest that national policy cannot dislodge it ignores recent history and the candidates’ budget plans.
|By: David Dayen Tuesday October 25, 2011 11:30 am|
Rick Perry says the tax code is a mess, riddled with problems and is unsustainable. So his solution is to offer a choice between his “flat tax” and the current code. Wonder what rich people will choose?
|By: David Dayen Tuesday August 23, 2011 11:30 am|
One of the policy items you hear the Administration tout as part of defending their record is the food safety bill. Food policy experts considered it flawed, but generally a step in the right direction, and the first overhaul of the nation’s food safety system in decades. There’s every reason for the White House to use that as part of their list of accomplishments.
There’s only one thing: as a result of the legislation, the FDA has more responsibility but does not have more money.