The Angry Bear

Via the New York Times Wisconsin and Foxconn: Foxconn’s plan for a $10 billion factory in Wisconsin is certainly good news for President Trump and Republican politicians Gov. Scott Walker and Speaker Paul D. Ryan, whose district the plant would call home. But the deal with Foxconn, the Taiwanese electronics supplier, comes with a heavy price tag for Wisconsin taxpayers: $3 billion in state tax credits that dwarf the typical incentive package companies receive...

by Dale Coberly FIX THE DEBT WANTS TO SAVE SOCIAL SECURITY BUT WHY? I received an email a few days ago from Chris Dreibelbis,Fix the Debt, purporting to explain “why the Social Security Trustees urge action.” “Fix the Debt” is a project of the Committee for a Responsible Federal Budget (CRFB) which is funded in part by Peter Peterson, a very rich person who has made something of a second career writing and saying misleading things about Social Security.  So...

“The discussions came as the Senate rejected 45-55 a straight repeal of Obamacare with a two-year delay in implementation to allow Congress to work out a replacement. Seven Republicans opposed the measure.” I do not have much more than this. I will update once I know more about this vote. If I can find out who voted how, I will post it.

by Joseph Joyce Trilemmas and Financial Instability Whether or not the international monetary trilemma (the choice facing policymakers among monetary autonomy, capital mobility and a fixed exchange rate) allows policymakers the scope for policy autonomy has been the subject of a number of recent analyses (see here for a summary). Hélène Rey of the London Business School has claimed that the global financial cycle constrains the ability of policymakers to...

Let Dan and I know please.

It has been a long time since I participated in Scouting events. Never been to a Jamboree; although, we did take a bunch into the Pubelos for a hike and rafting on the Arkansas. Hiking up the mountain in a cold rain certainly showed who was prepared to meet the elements of being outdoors with minimum shelter. Those of us who had fleece jackets, rain gear, and equipment stowed in water resistant packs were almost prepared for anything, which could happen...

The first vote in the Senate to amend the PPACA was rejected. “Senators voted 57-43 late Tuesday to reject the plan in the first vote on an amendment to the bill. Those voting “no” included nine defecting Republicans. The vote underscored problems Republicans will have in winning enough votes to recast Obama’s statute. The rejected proposal included language by Senate Majority Leader Mitch McConnell erasing the Obama law’s tax penalties on people not buying...

Even though Angry Bear has as an audience of people who are more than beginners in economic thought,  I think it worthwhile to pursue basic stories about what we demand and value from our way of life, which includes the “economy”. I had a recent experience where an acquaintance came up to me and asked about Angry Bear and then proceeded to explain what formed the basics of his economic narrative. In rough form and I think my summation accurate enough for...

The first section of issues McConnell and Republicans must overcome requires 60 votes due to the Parliamentarian ruling the provisions of the BCHA violate the Byrd Rule; consequently, the Reconciliation procedure requiring only 51 votes can not be used to repeal the Affordable Care Act (ACA) or waive the Byrd rule. The second set of provisions ruled upon by the Parliamentarian only require 51 or a majority vote to pass these changes. There is little...