Govt Debt

The Wall Street Journal has an interesting op-ed today about the US government's debt and its credit rating. It emphasizes the tremendous increase in spending during the Obama period. In reviewing the history of federal spending to GDP ratios, it points out that in 1946, right after World War II, the spending was 24.8% of GDP but it fell in 14.8% in 1947. Doesn't this run counter to all the claims that too rapid a decrease in spending would cause economic catastrophe. Although there was a recession in 1946-1947, the United States was about to embark on several decades of strong economic growth. In the decade after reducing federal spending by 10% of GDP, the US enjoyed unprecedented wealth and prosperity. Of course, the situation is different now but this history counters claims that government spending and stimulus is the key to recovery.

Fewer Immigrants

Both the New York Times and Washington Post report that immigration from Latin America is slowing but they point to different causes. According to the Times, it's because life is getting better south of the border, but for the Post, it's due to increased violence.

The D Word

I think MSNBC totally overreacted by suspending Mark Halperin for calling President Obama a dick. If a talk show like Morning Joe has any value, it's because the people participating are candid and honest about their opinions. Using a colorful word to describe the president is not the worst thing in the world. There are certainly worst words he could have used.

DSK

The latest revaluations about DSK are fascinating. It's like the twists in a Law and Order SVU episode but I'm still not sure what to make of them. Was DSK set up? Did the maid come on to him and then claim rape as part of a nefarious plot? Or was she really raped and is just has a lot of questionable things in her life? Just because she may not be the upstanding person that she originally portrayed herself as doesn't mean she wasn't raped. We'll see what happens.