Blog Archives

Auto loans, part 2: options for the President

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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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Posted in autos, budget, economy, financial, industry, labor

Auto loans: a deadline looms

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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.

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Posted in autos, budget, economy, financial, industry, labor

Is $700 billion enough?

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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.

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Posted in budget, economy, financial

President Bush discusses his Administration's plan to assist automakers

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,

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Posted in autos, budget, economy, industry

What caused this financial mess?

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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

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Posted in economy, financial, housing, int'l

Rose Garden Statement by President Bush on financial markets

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

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Posted in economy, financial, housing

A "second stimulus?"

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

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Posted in budget, economy, taxes

USA Today op-ed: Keep taxes low

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

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Posted in taxes

The Economic Report of the President

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,

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Posted in economy, financial, housing

Debt and the real threat

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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,

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Posted in budget, economy, taxes
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