The President’s new message is: No second stimulus. This one will work. Ride it out and be patient.
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Tag Archives: bush administration
Government Motors discussion on Fox News Sunday (continued)
7 June 2009 
12 Comments
In an earlier post I attempted to correct Dr. Austan Goolsbee’s incorrect and inflammatory statements about President Bush.I would like here to add my views to one additional question on the auto industry discussion on this morning’s edition of Fox News Sunday. Host Chris Wallace moderated a discussion this morning with: Dr. Austan Goolsbee, Member […]
Read moreDr. Goolsbee gets it wrong on the auto loans
7 June 2009 41 Comments
This morning on Fox News Sunday, host Chris Wallace moderated a discussion about the auto industry. One of his guests was Dr. Austan Goolsbee, who is a Member of President Obama’s Council of Economic Advisers and chief economist on the President’s Economic Recovery Advisory Board. I want to focus on some incorrect and inflammatory statements […]
Read more Working in the West Wing: Doing a TV news interview on the North Lawn
5 June 2009 1 Comment
This is the second in a series of occasional posts about the nitty gritty of working in the West Wing of the White House. I am describing things as they were in the Bush Administration. YMMV in the Obama Administration. Again, it seems a bit silly to write about such trivial details, but given the […]
Read moreUnderstanding the GM bankruptcy
1 June 2009 51 Comments
Many of you are new to this blog since I wrote extensively about autos six weeks ago. As background, I coordinated the auto loan process for President Bush last fall as the Director of the White House National Economic Council (the position now held by Dr. Lawrence Summers). I wrote a series of posts on […]
Read more Understanding the President’s CAFE announcement
19 May 2009 126 Comments
(Editorial note: I was doing so well moving to shorter posts. I fail miserably in achieving that goal here. I went the comprehensive route instead. I promise to return to shorter posts in the future. Buckle up – this is a long ride. I hope you find it’s worth it.) (Update: There’s an important correction […]
Read moreIntro to TARP — TARP III: The Geithner Plan
1 May 2009 7 Comments
We have so far: created our example of Large Bank; described TARP I, in which the government would buy bad assets from banks; and described TARP II, in which the government made direct equity investments in banks. The Bush Administration implemented TARP II as the $250 B Capital Purchase Program (CPP), although less than $250 […]
Read moreIntro to TARP — TARP II: Direct investment
30 April 2009 5 Comments
Tuesday I began with a simple example, which I am calling Large Bank. Yesterday we looked at TARP I, in which the government would buy troubled/toxic assets from banks. Today I will describe TARP II, the plan we (the Bush Administration) implemented, in which the government made direct equity investments in banks to help fill […]
Read moreFour unpleasant options for TARP funding
13 April 2009 7 Comments
Despite Secretary Geithner’s statement to the contrary, I still think the Administration is running out of room within the $700 B Troubled Assets Relief Program (TARP). In my last four posts on TARP funding (1 2 3 4), I have stuck to what I think I can demonstrate analytically. I am now going to shift […]
Read more How many uninsured people need additional help from taxpayers?
9 April 2009 144 Comments
When discussing health insurance we frequently hear that there are “46 million uninsured” in America. This figure is from a monthly survey of about 50,000 households done by the Bureau of Labor Statistics and the Census Bureau. This Current Population Survey (CPS) then uses statistical techniques to paint a picture of the entire U.S. population. […]
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