Suppose I bought an iPhone yesterday for $500.
Suppose I argue that I will save $2000 this week, because I intend to refraining from buying an additional iPhone today, nor will I buy one this Wednesday, Thursday, or Friday.
There has been a lot of debate about whether the President’s budget improves or worsens the future deficit picture. This is a debate mostly about baselines — what do you assume would happen otherwise? Rather than engaging in that debate here, I am…
Budget Director Peter Orszag wrote on his blog yesterday that he thinks “Debt held by the public net of financial assets is the most meaningful measure of current federal debt.”
In the Rose Garden last Friday, the President proposed policy changes to address problems in the subprime mortgage market. Here are his remarks and a fact sheet. I’m going to do this in three parts: (1) give a few definitions for those who are new to the housing finance world; (2) define the…