Each year Congress enacts 12 annual appropriations (spending) bills. Those bills are the subject of vigorous and legitimate fights about spending priorities. Included in these annual appropriations bills are spending for defense, veterans, military construction, highways, housing, education (except student loans), foreign aid and the foreign service, the FBI, CIA, and Department of Justice, most […]
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Tag Archives: housing
Four 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 moreIs $700 billion enough? Part 3: Secretary Geithner says we have more room
31 March 2009 8 Comments
The Wall Street Journal reported Monday that Treasury says “it has about $134.5 billion left in its financial-rescue fund.” Secretary Geithner addressed this question Sunday on This Week with George Stephanopolous.
Read more Auto loans, part 2: options for the President
27 March 2009 4 Comments
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.
Read moreWelcome!
27 March 2009 10 Comments
Welcome to my new blog. If you would like to learn more about American economic policy, I would be honored to be your guide.
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 more The President's speech on financial markets and the world economy
13 November 2008 Comments Off
President Bush spoke at the Manhattan Institute today on financial markets and the world economy. This speech is a prelude to the financial summit the President will host this weekend. I’ll write separately about the Summit, and about the elements of today’s speech that talk about principles for reform. I want to draw your attention […]
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 moreAddress by President Bush on financial markets
24 September 2008 Comments Off
President Bush gave a major policy address on the State Floor of the White House this evening. THE WHITE HOUSE State Floor 9:01 P.M. EDT THE PRESIDENT: Good evening. This is an extraordinary period for America’s economy. Over the past few weeks, many Americans have felt anxiety about their finances and their future. I understand […]
Read moreRose Garden Statement by President Bush on the Economy
19 September 2008 Comments Off
Here’s what President Bush said at 10:45 AM today in the Rose Garden. This is really important. Good morning. I thank Treasury Secretary Hank Paulson, Federal Reserve Chairman Ben Bernanke, and SEC Chairman Chris Cox for joining me today. This is a pivotal moment for America’s economy. Problems that originated in the credit markets — […]
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