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By Tom Harris and Madhav Khandekar
Bad science puts rich nations on the hook for trillions in climate liabilities
Independent voices from the The Washington Times Communities
Topic - David Stockman
Housing has emerged as the brightest spot in the economy this year, but some analysts are questioning whether the market's recovery is built to last.
Archaic, bloated, duplicative, wasteful, inefficient government is like the weather. People complain about it, but no one has figured out how to change it.
The "fiscal cliff" debate in Washington has been cast as a choice between runaway Democratic spending and draconian Republican cuts, but no matter who wins the argument, both parties' tax plans add to the deficit — by a minimum of $4.3 trillion through 2022, according to the nonpartisan Congressional Budget Office.
Washington's spendthrift ways have taken much of the blame for sending the budget deficit more than $1.5 trillion during the recession, but equal blame should go to a collapse in federal revenues to 60-year lows, budget analysts say.
Forget about civility. Let's go for maturity. Republicans are ready for an "adult conversation," not a "Hail Mary speech," on the nation's economy. So says National Committee Chairman Reince Priebus in the aftermath of President Obama's "remarks on fiscal policy," as his speech was billed by the White House.
Centennial events here and around the world officially begin this week to commemorate Ronald Reagan's 100th birthday that will mark the 40th president's historic legacy. These events have rekindled a lot of fond memories of my interviews with Reagan.
Mark Zandi, Moody's Analytics chief economist, has become an oracle of sorts on Capitol Hill, where members of both parties have recited his financial forecasts in an attempt to seize the high ground in battles over stimulus packages, deficit reduction plans and the tax cuts enacted during the George W. Bush administration.
Seven months after the Senate knocked down the idea of a value-added tax, the VAT is back on the table -- one of a host of familiar proposals that has been recycled as a proposed answer to the nation's financial problems.
Young potential homebuyers can't find jobs, are weighed down by staggering loads of student debt and are unable or unwilling to buy homes, he said, while baby boomers are looking to trade down to smaller homes rather than trade up to larger ones as they approach retirement.
The investment activity has obscured the fact that first-time buyers and trade-up buyers are largely missing from the market, he said, though these types of consumers are essential to ensuring that the market keeps rising under more normal circumstances.