WASHINGTON — It’s that time of year again when Congress debates the federal budget. For most Americans, it’s a turnoff. The dollar amounts are monstrous — trillions, not billions. The vocabulary of government finances (budget-speak) is baffling. Little wonder people tune out. For the weary and confused, I offer a brief budget primer below. Here’s […]
Robert Samuelson
Posted inOp-Eds, sj-web
North Korea poses cyberattack threat
WASHINGTON — It turns out that North Korea isn’t just a nuclear threat. It’s also a cyberthreat, and in some ways, this may be more frightening. Launched largely anonymously, cyberattacks can cripple essential infrastructure — power grids, financial networks, transportation systems — and inflict social disorder and political anarchy. Immediate retaliation is difficult. All this […]
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Posted inOp-Eds, sj-web
Bernanke worried about U.S. economy
WASHINGTON — Ben Bernanke is worried — and perhaps we should be, too. As chairman of the Federal Reserve from 2006 to 2014, it was Bernanke who, along with others, prevented the worst recession since World War II from becoming the Great Depression 2.0. Now he fears that, should another sharp recession occur, the Fed […]
Posted inOp-Eds, sj-web
Compromise on ‘wall’ would be useful
WASHINGTON — It’s time to build the wall — and, in doing so, prevent an estimated 690,000 DACA “dreamers” from being deported from the United States. It’s a fair deal that could be scuttled only by intense and self-serving partisanship from the White House and the Republican and Democratic congressional leadership. As almost everyone knows […]
Posted inOp-Eds, sj-web
Redistributive struggles part of the social fabric
WASHINGTON — The spoils society advances. The “spoils society” is a phrase I coined some years ago to illustrate a basic problem of wealthy societies, including, of course, the United States. After all, our annual GDP (gross domestic product) is approaching $20 trillion. The problem is that, as societies become richer, so does the temptation […]
Posted inOp-Eds, sj-web
Confidence in economy lacking depth
WASHINGTON — The American consumer is the great engine of growth for the $19 trillion U.S. economy, representing nearly 70 percent of spending. If the consumer is confident and happy, chances are that the economy is satisfactory or robust. On the other hand, if the consumer is confused and worried, the economy may be weak […]
Posted inOp-Eds, sj-web
Looks like 'the swamp' will survive
WASHINGTON — President Trump isn’t draining the swamp. He unveiled his long-awaited “tax reform” package last week, and although many crucial details were missing (for example, the income brackets), he was full of accolades. “This is a revolutionary change,” he said. Well, not yet. The federal income-tax system — almost everyone seems to agree — […]
Posted inOp-Eds, sj-web
Are entrepreneurs a dying breed?
WASHINGTON — Maybe we’re not “‘Shark Tank’ nation” after all. The incredibly popular cable business program, which features budding entrepreneurs pleading for backing from wealthy investors (the “sharks”), seems to define us. We’re a nation of hungry go-getters, eager to start our own business on the way to becoming multimillionaires. Everyone wants to strike it […]
Posted inOp-Eds, sj-web
Go slow with diverless technology
WASHINGTON — Driverless vehicles may not be all that they’re cracked up to be. Indeed, they may be harmful to our collective security and well-being. Unless you’ve been vacationing on Saturn, you know that driverless vehicles are the next Big Thing. Almost every major car company (General Motors, Ford, Toyota, Mercedes) has a program, often […]
Posted inOp-Eds, sj-web
Middle-class comeback inspires hope
WASHINGTON — The middle class is back — or so it seems. That’s the message from the Census Bureau’s latest report on “Income and Poverty in the United States.” The news is mostly good. The income of the median household (the one exactly in the middle) rose to a record $59,039; the two-year increase was […]