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Six month economic policy status update
Sometimes it helps to zoom way out. Here is a summary I would give to someone who had missed the past six months, including the good, the bad, the non-existent, the uncertain, and the too-soon-to-tell.
Misreading the economy
The Vice President says that "We and everyone else misread the economy," and that "No one anticipated, no one expected that that recovery package would in fact be in a position at this point of having to distribute the bulk of money." This is inaccurate.
CNBC today at 2 PM
I'll be on CNBC once, maybe twice, in the 2 PM EDT hour today. I expect to talk about today's employment report, maybe toward the top of the hour. They may also have me comment [...]
The New York Times (implicitly) calls for no climate change law
The House passed the Waxman-Markey cap-and-trade bill last Friday on a largely party-line 219-212 vote. The New York Times editorial board now urges the Senate both to strengthen and pass the House-passed bill. But the Senate is right of the House on climate, so the choice will be to strengthen or pass a bill. Senate passage would require "weakening" the bill from the standpoint of a cap-and-trade advocate. This legislative situation provides me with a great teaching opportunity about the hard choices of practical legislating.