Mike Norman Economics

The House is set to take up a balanced budget amendment this week, which would limit federal spending in each fiscal year to federal receipts in that year.Like the push toward war isn't crazy enough for the crazies. This is like playing Russian roulette with all the chambers loaded. Republicans currently control both houses of Congress and the presidency. They could balance the budget if they wanted to. Instead, they have shown themselves more interested in cutting taxes for the rich....

Knowledge flow.It is important to note that knowledge is a free good. The arrangement of words in books can be copyrighted, but not the knowledge they convey.However, the application of knowledge can be limited by making it "proprietary." In the past, many processes have been kept secret. e.g., transmitted in families. In contemporary times, processes for applying knowledge may be fenced in, at least for a time, with intellectual rights to processes such as patents.The IMF looks at the...

The US Democratic Party has lost its right, in my view, to attract the progressive vote.The CBO Report, which I will discuss in technical terms tomorrow, really just estimated that the latest policy shift under Trump will increase the US fiscal deficit and public debt ratio. The main game should have been on debating whether the the composition of the US fiscal deficit was beneficial to all Americans or not, rather than running a hysterical political response about the need to cut deficits...

From Axios. He might be caught up in knowledge about the illegal surveillance on the Trump campaign... SIREN: Paul Ryan has told confidants that he will announce he won't run for reelection https://t.co/TVielDxaOx— Axios (@axios) April 11, 2018

Look like we'll get to see about all the hype surrounding the S-400...Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and “smart!” You shouldn’t be partners with a Gas Killing Animal who kills his people and enjoys it!— Donald J. Trump (@realDonaldTrump) April 11, 2018

[Francis] Boyle is professor of international law at the University of Illinois College of Law. He said today: “Any U.S. attack targeting the Syrian government or its forces would clearly violate both U.S. and international law. When Obama was in a similar position in 2013, his advisor Ben Rhodes [see below] has since commented that they turned back largely because they were afraid of impeachment. That fear is well founded. While the prospect of impeaching Trump is thrown around frequently...

Chinese direct investment in the United States fell by more than 35 percent in 2017 due to policy shifts in both countries, according to a new report jointly released on Tuesday by the National Committee on U.S.-China Relations (NCUSCR) and the Rhodium Group...  EcnsChinese direct investment in U.S. plunges in 2017 due to policy shifts Xinhua

The narrative now is "Assad cannot be allowed to normalize use of chemical weapons."The US has already normalized the use of torture and illegal aggression.FiredoglakeWho’s Who Of American War Criminals And Torture Apologists Endorse Gina Haspel For CIA Director Kevin Gosztola | managing editor of Shadowproof Press and producer and co-host of the weekly podcast, "Unauthorized Disclosure"

Trump calls on his Cabinet to propose stronger work requirements for welfare across the board. VOX Trump wants to slash welfare with stricter work requirementsTara Golshan

Where the oil is. Predictions are a tricky thing, but here’s one: Within a few years, America will gain nothing, and Washington will come to regret what turned into a messy, prolonged excursion in Syria. Pundits will wonder how it happened though it will have seemed preordained, just another unavoidable foreign policy disaster in an intractable region. And this is the optimistic scenario. The National InterestThe U.S. Military: Proud Owners of One-Third of Syria Danny Sjursen, fellow at...