The Obama Administration is in the midst of rolling out the President’s new game plan. I’d like to walk you through the options the President faces.
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Tag Archives: debt
Auto loans: a deadline looms
27 March 2009 
4 Comments
The Obama Administration is beginning to leak to the press their impending decision on loans to U.S. auto manufacturers. I am writing in parallel to explain how you might think about such a Presidential decision.
Read more Is $700 billion enough?
27 March 2009 7 Comments
I think President Obama will soon need to ask Congress for more TARP funding, and that such a request will displace his legislative agenda for a while.
Read morePresident Bush discusses his Administration's plan to assist automakers
19 December 2008 Comments Off
President Bush spoke at 9:01 AM this morning in the Roosevelt Room, announcing his plan to aid two U.S. auto manufacturers. Here are his remarks. THE PRESIDENT: Good morning. For years, America’s automakers have faced serious challenges — burdensome costs, a shrinking share of the market, and declining profits. In recent months, the global financial […]
Read more What caused this financial mess?
17 October 2008 Comments Off
President Bush spoke today about the financial crisis to the U.S. Chamber of Commerce. I’m going to use the President’s speech as an opportunity to explain to a non-financial audience what the Federal government did this week and why. I will oversimplify in many cases, and will gloss over many details. I don’t claim that […]
Read moreRose Garden Statement by President Bush on financial markets
14 October 2008 Comments Off
President Bush spoke at 8:02 AM this morning in the Rose Garden. Good morning. I just completed a meeting with my working group on financial markets. We discussed the unprecedented and aggressive steps the federal government is taking to address the financial crisis. Over the past few weeks, my administration has worked with both parties […]
Read moreA "second stimulus?"
7 August 2008 Comments Off
We are frequently asked whether there should be a “second stimulus” bill. Unfortunately, what is being considered on Capitol Hill is a very different animal from what we did earlier this year. 10-second macroeconomic review GDP = Consumption + Investment + Government spending + Exports – Imports = C + I + G + X […]
Read moreUSA Today op-ed: Keep taxes low
9 June 2008 1 Comment
USA Today editorializes today against making the tax cuts permanent, and includes an opposing view from me. I’ll include both here. I’ve learned that he who writes the opposing view is at a disadvantage, in that they get to see what I wrote, but not the reverse. I thought I had anticipated their attacks, but […]
Read moreThe Economic Report of the President
13 February 2008 Comments Off
On Monday Dr. Edward Lazear, Chairman of the President’s Council of Economic Advisers, released the Economic Report of the President for 2008. This traditionally is released a week after the President’s Budget. It describes the state of the U.S. economy, and also discusses in more detail a range of economic policy issues. As the ERP […]
Read more Debt and the real threat
7 February 2008 Comments Off
Monday the President proposed his budget for Fiscal Year 2009. This is the first “e-Budget” – it was transmitted electronically as an official document to the Congress, and was digitally signed by the Executive Clerk. At a press conference Monday, Senate Budget Committee Chairman Kent Conrad (D-ND) said: But let me emphasize to you what […]
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