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What is the Strategic Petroleum Reserve (SPR)?
Based on public information, I think it’s hard to justify an SPR release now. If a lot more supply goes offline (in Libya or elsewhere), and if the Saudis lack the spare capacity to offset that additional loss, then the President will have a tough call to make.
When halfway isn’t
The negotiations on the continuing resolution (CR) began yesterday. The Administration’s new line, echoed by Congressional Democrats, is that their new offer “comes halfway.” As the players jockey for position they will be throwing out [...]
The President’s proposed deficits and “primary balance”
Today we’ll look at President Obama’s proposed deficit path, as yesterday we looked at his spending and revenue paths. The red line on this graph compares the last 50 years of deficits with the next 50 [...]
The long term budget problem begins now
Let’s look at President Obama’s proposed long run budget path. Click the graph to see a larger version. <a href="https://keithhennessey.files.wordpress.com/2013/01/obama-long-term-policy.png" target="_blank" rel="shadowbox[post-7070];player=img;"> I am comparing the past 50 years with the next 50 years under [...]