Credit

At some point, the most obvious explanation is rope-a-dope. 

Given that Obamacare’s supporters like to take the Congressional Budget Office’s overly optimistic scoring of the president’s signature legislation as gospel, it’s fun to look at how poorly Obamacare is actually doing in relation to earlier CBO projections.  When the Democrats rammed Obamacare…

The old saying about how banks only loan money to people who don’t need it seems to be coming around again. This after the disaster that followed a policy of lending money, and lots of it, to people who really needed it but weren’t likely to pay it back. 

Vice President Joe Biden addressed the North American International Auto Show in Detroit on Thursday and reminisced about the state of the industry before and after the Obama administration came into office.  He observed that the steep decline in auto sales during President Obama's first year in…

Senator Tom Coburn tore up a poster of what he called "Congress's credit card" on the Senate floor:

A Florida TV station reports that people's credit score's will "have a big impact" on how much they pay for Obamacare:

When the Affordable Care Act passed in 2010, one provision that kicked in immediately was a Small Business Health Care Tax Credit.  The IRS explains how the fairly generous credit works:

The Washington Post reports:

Chief Justice John Roberts is the victim of credit card fraud, according to multiple reports out today.

First Lady Michelle Obama's social security number and credit report have been leaked online, the Associated Press reports.

President Barack Obama wants to raise the debt limit "without drama or delay," a White House official tells Reuters. 

A perceptive e-mail from a friend from the world of finance:

According to figures provided by the International Monetary Fund, and compiled into this easy to read chart by the Republican side of the Senate Budget Committee, America will "spend 60 percent more per person than Spain over [the] next 5 years."[img nocaption float="center" width="500"…

Greece is a far away country about which we know very little, as Neville Chamberlain described Czechoslovakia right before developments there brought the world closer to World War II. France has not been a great friend in recent times of America—remember Freedom Fries?—so its travails aren’t…

It’s amazing that a senior member of a party that’s in control of a legislative body that hasn’t passed a budget of any sort in more than two years would publically try to pin blame for Standard and Poor’s recent downgrade of America’s long-term credit rating on, of all groups, the Tea Party. But…

The New York Times reports that credit rating agency Standard & Poor's has downgraded America's long-term debt: 

Standard and Poor's has downgraded the United States government's AAA credit rating. CNN reports:

A spectre is haunting Europe​—​the spectre of the disintegration of the eurozone. All the powers of old Europe have entered into a holy alliance to exorcize this spectre: German chancellor and French president, the Brussels eurocracy and the bonus-laden bankers. Let the ruling classes tremble. The…

I just ran into former White House chief of staff/Treasury secretary/secretary of State Jim Baker at Reagan National airport. After some small talk and some sharing of our pleasure at the killing of Osama bin Laden and our admiration for all involved, from the president to the Navy SEALs, we…

Larry Summers, the just-departed White House economic adviser, says today’s credit crunch has a new culprit. “In the early days of the crisis, there was clearly a problem with lenders being unable to lend even to creditworthy borrowers,” he says in an interview in The International Economy…

There are two battles going on that will influence how the economy performs for the rest of this year. The first is a battle for attention between the general economic news and the profits performance of America’s leading companies. The second is a battle between austerity advocates and the…