The Current Crisis, The Coming Crisis, and the Impact on Tax Policy

By: Francis Cianfrocca (Diary)  |  January 19th at 08:02 AM  | 

We’re experiencing an economic recession as a result of several global economic imbalances that have been building for years now. Since sometime in the Clinton Administration, growth in US consumption has been funded by steady increases in the private “balance sheet,” or the net level of indebtedness. During the Bush years, growth was also supported by accomodative monetary policy and fiscal deficits. Since the early | Read More »

Revisiting the Supply-Side Thesis

By: Francis Cianfrocca (Diary)  |  January 6th at 05:46 AM  | 

Everyone’s attention has temporarily shifted away from the automaker bailout, to consideration of a vast Keynesian stimulus program, with some side-distractions relating to the personnel of the US Senate. Don’t worry about the automaker situation: it’ll be back on the front-burner next month as both GM and Chrysler LLC will have burned through last month’s bailout money and will be back for more. A lot | Read More »