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The President’s new message is: No second stimulus. This one will work. Ride it out and be patient.

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 of [...]

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 by [...]

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 [...]

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 [...]

(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 in [...]

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 B has been allocated [...]

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 their capital [...]

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 [...]

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.
Advocates [...]