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Republican Collapse?

Never say never. But I have never seen anything quite like this. The Republican leadership is in disarray over the debt ceiling limit issue and the related deficit cutting exercise. Today’s events have been extraordinary. They reveal the GOP not only to be deeply divided – to the extent that they cannot hold together on […]

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US Trade Gap Worsens: Oil. What’s New?

Today’s trade report is not good. The gap between imports and exports rose to $50.2 billion in May. That’s a 15% jump. By itself that suggests that trade will have a negative impact on GDP when the final numbers are put together. Then again maybe not. Most of that negative shift in May came from […]

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Inequality Intrudes

Senator Orrin Hatch made a fool of himself last week when he seemed to suggest that the poor were not paying their share of taxes. The middles class, he said, is paying too much, so we should not reverse the Bush tax cuts on the wealthy. After all, he argued, is a $200,000 a year […]

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