A bad idea…with 47 co-sponsors

Writing in today’s Wall Street Journal today, Senators Olympia Snowe (R-ME) and Jim DeMint (R-SC) tout their support (along with their 45 Republican Senate colleagues) for a balanced budget amendment to the constitution. This is a bad idea for three reasons.  First, it is bad economic policy.  Second, if passed, it would likely make the … Read moreA bad idea…with 47 co-sponsors

Glenn Hubbard is half right

Writing in today’s Financial Times, Glenn Hubbard argues–correctly–that the debate over the debt ceiling in Washington is misplaced. Rather than focus on the debt ceiling, he suggests that Congress and the Administration ought to consider the deficit. Or, as he puts it: “My wife and I don’t vote on whether we will pay our bills. … Read moreGlenn Hubbard is half right