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letsgetitdone's picture

Real Fiscal Responsibility 2; Carter: Stagnation and Unemployment

This post continues my series evaluating the fiscal responsibility/irresponsibility of the Governments of the United States (mostly the Congress, the Executive Branch, and the Federal Reserve) by Administration periods beginning in 1977 with the Jimmy Carter period. My first post explained why I chose to start my evaluation with the Carter period, and also laid out my related definitions of fiscal sustainability, and fiscal responsibility.

It explained why fiscal responsibility is closely connected to the idea of public purpose, which I've laid out here. I also claimed that the Government of the United States has been fiscally irresponsible in every Administration period since 1977. The remaining posts in this series, and they will be many, will document that claim with analysis.

In this second post, I begin my evaluation of the extent of fiscal responsibility or irresponsibility of the Federal Government during the Carter Administration by covering two of the primary problems reflecting public purpose, and what the Federal Government did or did not do about them with its fiscal and monetary policies. The two are: ending economic stagnation, and creating full employment at a living wage. Read below the fold...

letsgetitdone's picture

Real Fiscal Responsibility 3; Carter: Inflation and Health Care

Here's the third post in my series evaluating the fiscal responsibility/irresponsibility of the Governments of the United States (mostly the Congress, the Executive Branch, and the Federal Reserve) by Administration periods beginning in 1977 with the Jimmy Carter period. My first post explained why I chose to start my evaluation with the Carter period, and also laid out my related definitions of fiscal sustainability, and fiscal responsibility.

It explained why fiscal responsibility is closely connected to the idea of public purpose, which I've laid out here. I also claimed that the Government of the United States has been fiscally irresponsible in every Administration period since 1977.

In my second post, I began by examining the problems of ending economic stagnation, and providing full employment at a living wage, and, I hope, by showing that the Government, during the Carter period, failed to solve either problem because of its commitment to deficit reduction, and budget balancing, in the service of hoped for inflation moderation. The remaining posts in this series will continue to document the claim that all the US Governments since 1977 have been fiscally irresponsible. This, one, the third in the series, will examine how the US Government failed in its efforts to create and maintain price stability, and also failed to provide a solution to the problem of providing the right of receiving health care to every American in need. Read below the fold...

BruceMcF's picture

Sunday Train: NEC High Speed Rail for Under $20b (from 15Jul2012)

Sunday Train this week is a re-run from 15 July, 2012

Burning the Midnight Oil for Living Energy Independence

One of the transit bloggers that I enjoy reading is Alon Levy who blogs his observations on a variety of transit topics at Pedestrian Observations . Following the important California HSR funding vote in the California State Senate and the excitement leading up to it, I thought I'd like to take a look at the proposed Express HSR system for the states of the Northeast Corridor.

Of the $53b cost of the proposed San Francisco to Los Angeles Express HSR corridor seems hefty ~ and it seems even heftier when it shows the Year of Expenditure headline value of $68b ~ then the proposed Northeast Corridor states Express HSR will seem massive.

However, Alon claims:

Northeast Corridor HSR, 90% Cheaper
...
In contrast with this extravaganza, it is possible to achieve comparable travel times for about one tenth the cost. The important thing is to build the projects with the most benefit measured in travel time reduced or reliability gained per unit of cost, and also share tracks heavily with commuter rail, using timed overtakes to reduce the required amount of multi-tracking.

This sounds like an intriguing possibility ... but is it realistic? Or is it wishful thinking? Follow me below the fold, and then let's discuss it. Read below the fold...

In the garden: Spot the cat!

In case you can't.... Read below the fold...

In the garden: The Cardinal Climbers flower!

The very first one!

Read below the fold...

Tweet of the day (2)

Tweet of the day

DCblogger's picture

What Booman said

Yes, you heard me right, What Booman said. It seems that King Abdullah of Saudi Arabia has warned that the West will be the next target of the jihadists sweeping through Syria and Iraq, unless there is "rapid" action.

Yes

Seriously

Because the entire House of Saud is a bunch of rotten cowards incapable of fighting their own wars. Read below the fold...

In the garden: Special effects at Coastal Maine Botanical Gardens

This is my favorite kind of water feature: A thin sheet of water barely flowing over an edge:

Of course, Coastal Maine Botanical Gardens works on the grand scale (with the grand budget). But I could still steal the basic idea! Read below the fold...

Brilliant algorithm on the shape of epidemics

I was reading this fine article by Kevin Drum on lead and crime, when this paragraph jumped out:

Experts often suggest that crime resembles an epidemic. But what kind? Karl Smith, a professor of public economics and government at the University of North Carolina-Chapel Hill, has a good rule of thumb for categorizing epidemics: If it spreads along lines of communication, he says, the cause is information. Think Bieber Fever. If it travels along major transportation routes, the cause is microbial. Think influenza. If it spreads out like a fan, the cause is an insect. Think malaria. But if it's everywhere, all at once—as both the rise of crime in the '60s and '70s and the fall of crime in the '90s seemed to be—the cause is a molecule.

The way to fight ebola is said to be contact tracing, but I can't a graph mapping the shape of the contacts; my guess is that its spread follows transportation routes, or maybe it leaps via transport nodes, and then ans out from each node. I'm not sure why there's no shape listed for "viral," as opposed to microbia.)

But I wasn't thinking of ebola. Read below the fold...

letsgetitdone's picture

Real Fiscal Responsibility I: Preliminaries

This is the first in a lengthy blog series that will evaluate the US Government's record on Real Fiscal Responsibility, Administration period by Administration period, since the Administration of Jimmy Carter in 1977. In evaluating the US Government's record, it’s important to state clearly that I will be evaluating more than just each Administration and its activities.

The record of fiscal responsibility is not the product of the Executive Branch alone. It is the outcome of the interaction of the Executive with the two Houses of Congress and the Federal Reserve System, even on occasion the interaction of one or more of these with the Supreme Court. All bear joint, though not equal responsibility for the record of Government fiscal responsibility or fiscal irresponsibility, as the case may be, during each Administration period. Read below the fold...

Tweet of the day

DCblogger's picture

Democrats, warmongers with a human face

ELIZABETH WARREN FINALLY SPEAKS ON ISRAEL/GAZA, SOUNDS LIKE NETANYAHU

But Warren steadfastly defended her “pro-Israel” vote, invoking the politician’s platitude: “We’re going to have to agree to disagree on this one.” According to the account in the Cape Cod Times by reporter C. Ryan Barber, flagged by Zaid Jilani, Warren was also asked about her Israel position by other voters who were at the gathering, and she went on to explain:

Read below the fold...

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