Articles by J.D. Foster

 

Even Krugman Agrees–Economy in a Dead-Cat-Bounce Recovery

J.D. Foster | February 08, 2012

Despite a recent spate of good economic data, including last week’s jobs report, the U.S. economy remains deeply depressed. Don’t take my word for it…. Read More

 

Romney’s Taxes: Too Little or Too Much?

J.D. Foster | January 24, 2012

Much has been made of Mitt Romney’s asserted 15 percent or so tax rate. There is both a material error and an irony to this… Read More

 

Obama to Obama Jobs Council: I Disagree

J.D. Foster | January 19, 2012

President Obama’s Council on Jobs and Competitiveness released its third report January 17 entitled “Road Map to Renewal,” a worthy description of serious issues affecting… Read More

Economy

Krueger Tries and Fails to Disguise an Anti-Growth Tax Plan in Keynesian Garb

J.D. Foster | January 13, 2012

The remarks of Alan Krueger, chairman of Obama’s Council of Economic Advisers, asserting that taxing the rich can spur economic growth demonstrate that he and… Read More

 

The Senate Takes a (Payroll Tax) Holiday

J.D. Foster | December 22, 2011

The political battle over extending the payroll tax holiday is understandably confusing for many Americans, so it is worthwhile to step back and see how… Read More

 

The Fed, Other Central Banks Prepare for the Firestorm

J.D. Foster | November 30, 2011

The Fed has shocked us once again, and it’s probably right. There’s a firestorm on the horizon. It starts in Europe, but it threatens the… Read More

 

CBO Report’s Good News Built on Shifting Economic Sands

J.D. Foster | August 24, 2011

Contrary to tradition, the Congressional Budget Office (CBO) today released its mid-year assessment of the budget and economic situation. Traditionally, CBO releases its mid-year assessment… Read More

Economy

The U.S. Government Debt Default Bogie Man Scares No One

J.D. Foster | July 11, 2011

Ever since the debate over the debt limit began in earnest at the start of the year, the Obama Administration, led by Treasury Secretary Tim… Read More

 

Biden Campaigns Against Wasteful Spending

J.D. Foster | June 14, 2011

The White House yesterday launched yet another signature initiative to cut wasteful spending, once again setting the Administration’s key utility infielder, Vice President Joe Biden,… Read More

Economy

Moody’s Points to the Real Debt Judgment Day

J.D. Foster | June 03, 2011

May 21, 2011, was supposed to be Judgment Day according to Harold Camping. It was, in a sense. As the day came and went, the… Read More

Economy

On the Budget: Ryan 40, Obama Zip, Senate Dems—No Show

J.D. Foster | May 26, 2011

In just about any contest, a score of 40–0 is a pretty impressive trouncing. In football, that’s five touchdowns, a field goal, and a safety—think… Read More

 

Obama Belatedly Engages on Budget by Launching a Political Screed

J.D. Foster | April 13, 2011

An editorial headline in today’s Washington Post captured it well: “Late to the Game – Again.” President Obama gave what was billed today as a… Read More

 

Morning Bell: Commander-in-Chief Turns His Back on America’s Military

J.D. Foster | April 08, 2011

The American military is engaged in multiple conflicts and humanitarian missions around the world, yet President Obama promised to veto legislation funding the troops for… Read More

Economy

A Senate where Shame, Spending, and Inertia Rule

J.D. Foster | March 08, 2011

The federal government ran a budget deficit last month of $223 billion, according to recent analysis by the Congressional Budget Office (CBO). With deficits consistently… Read More

 

Cutting Spending Means More, Not Fewer Jobs

J.D. Foster | February 18, 2011

The debate in the House of Representatives over spending cuts has left many observers utterly unraveled. Exhibit A: the President’s veto threat. The core of… Read More

Economy

If Debt Hits the Ceiling, Make Interest Top Priority

J.D. Foster | February 04, 2011

As the Treasury Department reminded us on Wednesday, the federal government will likely reach the debt limit sometime between April 5 and May 31. Hitting… Read More

 

The Euro Suffers an Identity Crisis

J.D. Foster | December 20, 2010

Pity the poor euro. It’s a currency, but it’s asked to be so much more. More, indeed, than any currency can possibly be. The euro… Read More

Economy

Obama’s November Jobs Deficit One More Reason to Extend Bush Tax Cuts

J.D. Foster | December 03, 2010

“You are what your record says you are.” So says Bill Parcells, three-time Super Bowl–winning coach. Professional sports, athletes, coaches, and commentators can spin the… Read More

Economy

The Political Theater of the Expiring Bush Tax Cuts and the Street Mob

J.D. Foster | December 02, 2010

The House of Representatives is set to open the next act in the grand political theater, a fiscal tragedy of epic proportions surrounding the prevention… Read More

Economy

Is Brussels the New Borscht Belt?

J.D. Foster | October 20, 2010

Borscht Belt is a colloquial name for the Catskills Mountains in New York where famous comedians of the 1940s to 1960s would work their trade…. Read More

Economy

Taxhiker in Chief Takes On Social Security

J.D. Foster | October 18, 2010

There he goes again. President Obama is proposing yet another huge tax hike. Maybe we should cut to the chase and just ask our Taxhiker… Read More

Economy

Fear – of Greenspan

J.D. Foster | October 07, 2010

If economic sages were judged the same way major league baseball hitters are, Alan Greenspan hitting .333 would deserve the attention he garners. In recent… Read More

 

CBO Makes the Case for Change of a Different Sort

J.D. Foster | October 04, 2010

Congressional Budget Office (CBO) Director Douglas Elmendorf recently testified before the Senate Budget Committee on policies that might give the economy a helpful lift in… Read More

Economy

Reviewing a Do-Nothing (Right) Congress

J.D. Foster | October 01, 2010

As Members of Congress limp out of Washington to face their constituents, it’s worth reviewing their accomplishments—or lack thereof. The most basic function of Congress… Read More

Economy

Marcus Makes the Case for … Lower Tax Rates on Small Businesses

J.D. Foster | September 17, 2010

Ruth Marcus tried her best yesterday to undercut the argument that tax cuts hurt the economy’s main job creators — small businesses. But once you… Read More

Economy

Greenspan’s Latest Mistake: Tax Hikes

J.D. Foster | September 16, 2010

The recent global financial panic and recession had many authors. Millions of individuals and businesses made bad decisions about investing and debt. Scores of big… Read More

Economy

Tax Hikers Senselessly Stuck on Saving

J.D. Foster | September 15, 2010

Tax-hike advocates have erected yet another straw man to protect their high-tax policy, now arguing that little economic harm would be done if Congress and… Read More

Economy

Obama Opts for Politics Over Jobs, The Times Joins In

J.D. Foster | September 09, 2010

Today’s New York Times editorial on President Obama’s Cleveland political diatribe-cum-economic speech got one point right — Obama “took too long to engage this debate.” The… Read More

Economy

While Unemployment Rises, 15 Minutes to Tee Time

J.D. Foster | September 03, 2010

The latest jobs report showed the unemployment rate ticking up to 9.6 percent, putting the final nail in the coffin of recovery summer. The Obama… Read More

Economy

Obama Jobs Deficit Forcing Obama to Scramble

J.D. Foster | September 03, 2010

The August jobs report shows the Obama jobs deficit at 7.5 million workers. The Obama jobs deficit is the difference between the current level of… Read More