Mike & Co. — The Chair of the Federal Reserve went before House Financial Services to provide a report on the nation’s economic condition, a kind of bi-annual checkup. No news was made, no fireworks went off and no market mood swings occurred. As for the Fed’s next move, it’s wait-and-see a little while longer. …
Mike & Co. — Today, President Obama submitted his eighth and final budget proposal to Congress. It tops the $4 trillion mark for the first time. Despite the historical tendency for lame duck presidential budgets to be treated as scrap paper — this one won’t even be accorded the courtesy of a hearing in House …
Mike & Co. — Upbeat tax talk is as common this time of year as predictions that this year the Cubs will win the World Series this fall. The word is that Messrs. Ryan and McConnell want to run a smooth, efficient, maybe even a productive ship this year on the theory that voters will …
Mike & Co. — Congratulations, team. Last night’s narrow win in Iowa provided a big moral victory and took some of the win out of the challenger’s sails. It also means that, for at least several weeks, the Democratic nomination contest will continue apace. And it is likely that Wall Street regulation will likely remain one the campaign’s …
Mike & Co. — Ordinarily this time of year, you would perhaps start to spot leaks or hear scuttlebutt about the president’s spending plans for the next fiscal year, in anticipation of the statutory February White House budget rollout. No one noticed when the administration announced it would miss next week’s legal budget submission deadline. …
Dear Mike & Co., Pre-primary endorsements from Party leaders in tight contests are rare and sometimes understated. To wit, President Obama remarks this week that HRC is as prepared to be president as any non-Vice President as anyone: “I think that what Hillary presents is a recognition that translating values into governance and delivering the …
Mike & Co. — HRC added some key planks to her tax plan on Monday. Her proposals increase federal revenues by $400-500 billion over ten years without increasing taxes for anyone earning less than $250,000 a year. A third of the new revenue would come from a “fair share surcharge” levied on earnings exceeding $5 million taxed at the same rate, whether …
Mike & Co., The hopes of even the most zealous advocate of tax reform must be modest this year, but brave talk is heard from some well-placed members. Almost any reform would be seen as a crowning accomplishment for the new Speaker but the maw of election year politics militates against anything bipartisan and ambitious. …
Mike & Co. — Spoiler alert that the update below is another (requested) look at financial regulatory debate. It might not seem like territory as friendly as, say, gun control and it’s close the Vermont Senator’s home turf of economic inequality but his advantage can be neutralized. Back to taxes tomorrow. Best, Dana ———- The …
Mike & Co. — The economy added 292,000 jobs last month, up from 252,000 in November. Unemployment was 5 percent, unchanged, with scant evidence of wage growth. Labor force participation remained low, 62.6 percent, unchanged from November’s 62.5 percent, close to its lowest level since the 1970s. Spring doesn’t feel around the corner but at least primary politics …
