regime uncertainty

Uncertainty More Than Anecdotal

During a recent CNBC debate on federal spending, I argued that government policies are creating uncertainty in the business community. Businesses are reluctant to invest or hire because they’re concerned that the president’s big government agenda will mean higher taxes and more onerous regulations.

The Obama Labor Market

In a recent speech on the economy at Carnegie Mellon, President Obama took great pains to remind us that he inherited an economy that was “shrinking at an alarming rate.”  Of course his implication was that everything wrong with the economy today is George Bush’s fault.  While Bush does deserve considerable blame for current recess, a new working paper by economists at the University of Michigan and the New York and San Francisco Federal Reserve Banks paints a picture of a recession that was on par with previous deep recessions until wel

Why the Slow Recovery?

“Wealthy Face Higher Taxes.” That’s the headline that greeted two million American businesspeople Tuesday when they opened their Wall Street Journals.

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