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  • A Most Dangerous Era

    The devil is in the details, we are told, and the details are often buried in an appendix or footnote. This week we were confronted with a rather troubling appendix in the Congressional Budget Office (CBO) analysis of the Affordable Care Act, which suggests that the act will have a rather profound impact on employment patterns. You could tell a person's political leaning by how they responded. Republicans jumped all over this. The conservative Washington Times, for instance, featured this headline: "Obamacare will push 2 million workers out of labor market: CBO." Which is not what the analysis says at all. Liberals immediately downplayed the import by suggesting that all it really said was that people will have more choice about how they work, giving them more free time to play with their kids and pets and pursue other activities. Who could be against spending more time with your children?

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  • The Endgame Headwinds

    In This Issue:

    The Endgame Headwinds
    If Something Can't Happen…
    GDP = C + I + G + Net Exports
    Increasing Productivity
    Toronto, Cleveland, LA, Philadelphia, Boston, and Italy

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