Rich Karlgaard sees only one way out the U.S.' debt problem. And it ain't a VAT.
We are a nation of borrowers, not savers, and therefore we will have no tolerance for a multi-decade deflationary recession that favors savers. We will pressure our politicians to "do something." Caught between the rock of debt and a hard place of slower growth--and unable to imagine transcendence in tax and budget cuts--our Washington geniuses will give us inflation.
Apr 8, 2010 10:27 AM
Given the snail-like speed of the federal government, the hospital revenue taxes under consideration in many states, including Tennessee, it could be a while before they have any impact on state Medicaid program.
Late last week, the Centers for Medicare and Medicaid Services approved plans for Colorado's hospital tax almost one year after state legislators passed the law, reports the Denver Post. Gov. Bill Ritter signed House Bill 1293 on April 21, 2009, authorizing collection of the hospital provider fee.The background on Tennessee's plan for a "coverage fee" is here. The legislation creating the fee is expected to go before the state's Senate finance committee on April 13th and the House budget committee on April 14th.
Apr 7, 2010 2:34 PM
Barry Ritholtz is hoping the give and take on Christopher Dodd's financial reform plans doesn't end up with the root causes of the financial crisis being left untreated.
The Consumer Protection Agency might be a nice way to provide some education about finance to the average American, and help to reduce fraud, and increase transparency in consumer contracts,. However it had less to do with the cause fo the crisis than many other factors. Reducing leverage, re-regulating derivatives, maintaining adequate capital, separating insured deposits from more speculative activities are much more important.
Apr 7, 2010 10:32 AM
Citing the added financial stresses of funding the Music City Center, Fitch Ratings analysts have lowered their opinion of Metro's general obligation bonds to AA-, albeit with a stable outlook. (They'll be revised back up to AA in a few weeks because of a Fitch recallibration.) The firm also has rated as A+ the $633 million in bonds that will help build our new convention center.
Apr 6, 2010 3:10 PM
State Attorney General Bob Cooper issued an opinion Tuesday calling state legislative challenges to national health care reform laws unconstitutional. Read Ken Whitehouse's coverage of the opinion on The City Paper's site at this link. Some context on Cooper's decision:
States whose attorneys general have a differing opinion and are filing challenges include Florida, South Carolina, Nebraska, Texas, Utah, Louisiana, Alabama, Michigan, Colorado, Pennsylvania, Washington State, Idaho and South Dakota. The suing attorneys general are all Republicans except James "Buddy" Caldwell of Louisiana, who is a Democrat. In contrast, pro-health care reform attorneys general are going on the offensive in places like Oregon and Ohio, while the AGs in Georgia and Kentucky have refused requests from their governors to fight the legislation.
Apr 6, 2010 2:08 PM
The U.S. Court of Appeals for the District of Columbia has ruled that the Federal Communications Commission overstepped its bounds when it restricted Comcast's ability to block or slow traffic from peer-sharing Web site Bit Torrent. The move is expected to produce a new regulatory push, an investment boom, or both.
Bruce Mehlman, former assistant secretary of commerce for technology policy, however, said the decision may help speed the development of faster and more robust networks. "It may drive greater investment in broadband networks by removing regulatory uncertainty and perceived disincentives to invest in infrastructure," Mehlman said.SEE ALSO: Coverage from PCWorld and The New York Times
Apr 6, 2010 1:02 PM
Dueling endorsements in East TN congressional race reveal split among Tennessee 'Huckabians' -- UPDATE: HuckPAC fires back
Apr 6, 2010 11:09 AM
Former Senate Majority Leader Bill Frist yesterday told a group of Florida students that the recent health reform bill was a "mixed bag" when it comes to slowing cost increases but a good first step toward a system that will work for the long term.
Apr 6, 2010 10:40 AM
Senator goes a bit further than Corker on Martin, says current U.S. Attorney 'among the best'
Apr 5, 2010 2:32 PM
Real estate attorney Bryan Echols takes issue with the view of a panelist at a recent Vanderbilt-hosted event that energy-efficient construction should be a matter for states to shove down local governments' throats — er, take the lead on.
[T]he mindset of the author follows a more frequently espoused theory these days; that this whole democracy thing is way too cumbersome, and if we don't force the people to adopt our enlightened positions, they will wander in the darkness. Essentially, the author was suggesting that local governments were too slow to adopt advanced positions.
Apr 5, 2010 8:25 AM
- ALEX B FRUIN INHERITANCE TRUST; CANDACE F STEFANSIC INHERITANCE TRUST; CANDANCE F STEFANSIC INHERITANCE TRUST; FRUIN, ALEX B TRUSTEE; FRUIN ALEX B INHERITANCE TRUST; STEFANSIC, CANDACE F TRUSTEE; STEFANSIC CANDACE F INHERITANCE TRUST; STEFANSIC CANDANCE F INHERITANCE TRUST
- ROSS, BRIDGETT D
- COOKE, ETHEN LANYARD TRUSTEE; COOKE, ETHEN LEWIS ESTATE
- JACOBS, JESSICA ALEXANDRA; JACOBS, ERIKA BESS