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 […]
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Tag Archives: SPR
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 more The total tax battle
15 April 2009 6 Comments
Now that we have reviewed how big a bite the government has taken out of the economy over time, let’s examine the competing tax proposals for the near future. Revenues are only one element of a budget proposal. For a complete picture of the effect of a budget proposal on the rest of the economy, […]
Read more Can we ever know how many jobs the Obama Administration has saved?
6 April 2009 21 Comments
Almost two months ago, President Obama set a specific employment goal for his Administration: I think my initial measure of success is creating or saving 4 million jobs. It is clear that this “create or save” phrase is now a standard and important part of the Administration’s economic message. Greg Mankiw quickly identified both the […]
Read more A reporter's budget mistake at the press conference
27 March 2009 4 Comments
A concurrent resolution never goes to the President for a signature or veto.
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 — […]
Read moreStatement by Treasury Secretary Hank Paulson
19 September 2008 Comments Off
The President will speak at 10:45 AM. I’ll send his remarks soon after he has spoken. Here’s what Secretary Paulson said shortly after 10 AM this morning. Last night, Federal Reserve Chairman Ben Bernanke, SEC Chairman Chris Cox and I had a lengthy and productive working session with Congressional leaders. We began a substantive discussion […]
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