In remarks on Friday following a meeting with Fed Chairman Ben Bernanke and Sheila Bair, Chair of the Federal Deposit Insurance Corporation, President Obama pointed to some “glimmers of hope” in the economy, and indeed a few green shoots – rising mortgage refinancings and a slight uptick in durable goods orders – have appeared in recent weeks. read more »
In the quest to sufficiently reduce greenhouse gas (GHG) emissions, it is crucial to “get the numbers right.” Failure to do so would, in all probability, mean that the desired reductions will not be achieved. Regrettably, much of what is being proposed is not based upon any comprehensive quantitative analysis, but is rather rooted in anti-suburban dogma. read more »
Tom Brokaw named our parents The Greatest Generation. They came of age during The Great Depression and defeated Fascism, Nazism and Communism. They built the Interstate Highway System and landed a man on the moon. They built the great American middle class with safe communities and public schools that were the envy of the world. They deserve the title of The Greatest Generation. One of their few criticisms is that they spoiled us boomers, adhering to the teaching of Dr. Benjamin Spock. read more »
The world has embarked upon a campaign to reduce greenhouse gas (GHG) emissions. This is a serious challenge that will require focused policies rooted in reality. Regrettably, the political process sometimes falls far short of that objective. This is particularly so in the states of California and Washington, where ideology has crowded out rational analysis and the adoption of what can only be seen as reckless “cowboy” policies. read more »
With the exception of African-Americans, the group perhaps most energized by the Barack Obama presidency has been the environmentalists. Yet if most Americans can celebrate along with their black fellow citizens the tremendous achievement of Obama’s accession, the rise of green power may have consequences less widely appreciated.
The new power of the green lobby — including a growing number of investment and venture capital firms — introduces something new to national politics, although already familiar in places such as California and Oregon. Even if you welcome the departure of the Bush team, with its slavish fealty to Big Oil and the Saudis, the new power waged by environmental ideologues could impede the president’s primary goal of restarting our battered economy. read more »
In his remarkable rise to power, President Barack Obama has overcome some of the country's most formidable politicians – from the Bushes and the Clintons to John McCain. But he may have more trouble coping with a colleague he professes to admire: former Vice President Al Gore. read more »
The current debate over whether to save our domestic auto industry has revealed some starkly different views about the future of manufacturing in America among economists, elected officials, and corporate executives. There are many disagreements about solutions to the Big Three’s current financial difficulties, but the more fundamental debate lies in whether the industry should be bent to the will of the government’s environmental priorities or if it should serve only the needs of the companies’ customers and their shareholders.
But there’s something more at stake: the long-term credibility of Detroit among the rising generation of Millennials. These young people, after all, are the future consumers for the auto industry and winning them – or at least a significant portion of them – over is critical to the industry’s long-term prospects in the marketplace and in the halls of Congress. read more »
For years, transit funding advocates have claimed that national policy favors highways over transit. Consistent with that view, Congressman James Oberstar, chairman of the powerful House Transportation and Infrastructure Committee, wants to change the funding mix. He is looking for 40 percent of the transportation funding from the proposed stimulus package to be spent on transit, which is a substantial increase from present levels.
This raises two important questions: The first question is that of “equity” – “what would be the appropriate level to spend on transit?” The second question relates to “productivity” – “what would be the effect of spending more on transit?” read more »
It's the new buzzword: infrastructure.
President-elect Barack Obama has promised billions in infrastructure spending as part of a public works program bigger than any since the interstate highway system was built in the 1950s. Though it was greeted with hosannas, his proposal is only tapping into a clamor for such spending that's been rising ever since Hurricane Katrina hit New Orleans in 2005 and a major bridge collapsed in Minneapolis last year. With the economy now officially in recession, the rage for new brick and mortar is reaching a fever pitch.
But before we commit hundreds of billions to new construction projects, we should focus on just what kind of infrastructure investment we should – and shouldn't – be making. read more »
Reason magazine’s Jesse Walker opens his commentary on the New Zealand election by saying: “At least one country is responding to the financial crisis by moving to the right, not left.” This is factually correct but may overstate the case. read more »