Not my field, but it sounds right.
Article in the New York Times, which at my last check was not a member of the Vast Right-Wing Conspiracy.
Governments are struggling as mounting pension obligations crowd out the rest of their budgets. Oregon faces a severe, self-inflicted crisis. . . .
A county road recently washed out, stranding 300 people. Ms. Dwyer, of the Three Rivers School District, reported the problem to a public-works official.
She recalled his response: “I have trucks, but I can’t put gas in them to come to you and dig it out.”
While I think it's a little early to declare "the end," it sure is trending strongly that way.
How's this for a really bad prediction?
In 1920, the U.S. Geological Survey estimated that "the world's supply of recoverable petroleum" was no more than 60 billion barrels. It was wrong. The world has already produced 1,400 billion barrels of oil. Worldwide, there is about 1,700 billion barrels of oil in reserve – nearly a 60-year supply at current production rates. And the size of the ultimate resource is likely to be greater than 10 trillion barrels.
John Cochrane with an excellent answer to the "Democratic economic establishment".
Their bottom line, really, is that entitlements and deficits are not a problem. They put the blame pretty much entirely on the recently enacted corporate tax cut. (I'm simplifying a bit. As did they, a lot.)
By contrast, we focused on entitlement spending -- Social Security, Medicare, Medicaid, VA, pensions, and social programs -- as the central budget problem, and entitlement reform (not "cut") together with a strong focus on economic growth as the best answer.
A big knock on economics--mostly macroeconomics, but that's another post--is a supposed lack of refutable hypotheses and accurate predictions. Well, here's Alex Tabarrok using an acclaimed microeconomic theory to make a prediction. Keep track and see how it turns out.
When critics want to assess the alleged harms of Amazon, how the heck do they factor in this potentially large benefit?
Ken Fisher's column nicely explicates a basic feature of capitalism: any social problem is a profit opportunity.
Yet another reason for why the federal government is running huge deficits.
On the basis of our sample results, we estimated that the State agency made Medicaid payments of $628,838,417 (Federal share) on behalf of 366,078 ineligible beneficiaries and $402,358,529 (Federal share) on behalf of 79,055 potentially ineligible beneficiaries.
Guess. Go ahead, guess.
Here's another reason: "Massachusetts State Police versus a private sector job".