I want to propose a four-part test for measuring any particular bill on health care cost control. short run long run Federal deficit 1 2 Government health care spending X 3 Private health care spending X 4 In each case, I will define the test so that “yes” is a good outcome: Test 1: The […]
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Tag Archives: trade
Understanding the GM bankruptcy
1 June 2009 
51 Comments
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 […]
Read moreThe Smoot-Krugman carbon import tariff
29 May 2009 34 Comments
I wrote last Friday about the China/India hole in the American climate strategy: America appears to lack a high-probability strategy for how to get China, India, and Russia to agree to self-impose a significant positive carbon price. The Administration and its Congressional allies are trying to impose a significant carbon price in the U.S. through […]
Read more Third party payment in health care (part 3): Technology drives cost growth
18 May 2009 17 Comments
Imagine that Sony plans to bring to market a new TV that is twice as good as the old $500 TV but costs $200 more to produce. If instead it is twice as good but costs $2,000 more, they will probably hold off and look for a less expensive way to improve quality. Now imagine […]
Read moreIntro to TARP — TARP II: Direct investment
30 April 2009 5 Comments
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 […]
Read moreCBO: More taxpayer-financed health insurance coverage won't save money
22 April 2009 2 Comments
Last December the Congressional Budget Office published a comprehensive paper that describes how they approach analysis of health insurance reform proposals. It is a critically important (and somewhat technical) document for anyone who cares about health care legislation in the United States. CBO is the referee for the budgetary costs of legislation. They estimate the […]
Read moreSlowing health cost growth requires information AND incentives
21 April 2009 6 Comments
When I was growing up, I was taught that you change the oil in your car every 3,000 miles. Suppose I take my three-year old car to Jiffy Lube for an oil change. Jiffy Lube has all the latest information technology, as well as good data on both manufacturers’ recommendations and best practices. After entering […]
Read more The danger of autopilot entitlement spending
21 April 2009 4 Comments
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 […]
Read more How many uninsured people need additional help from taxpayers?
9 April 2009 144 Comments
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. […]
Read moreThe President's strong free trade language in Strasbourg
6 April 2009 4 Comments
I would like to compliment and thank President Obama for saying this in Strasbourg, France last Friday: As we take these steps, we also affirm that we must not erect new barriers to commerce; that trade wars have no victors. We can’t give up on open markets, even as we work to ensure that trade […]
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