The Poet Economist

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The year is 2013. The world did not come to an end in the last month of 2012, as so many had feared. Cynicism and existential terror have not won the future. It is Martin Luther King Day, three weeks to the day after the 150th anniversary of the Emancipation Proclamation—which declared in the gravest of moments in our national history that we will be a true democracy, one day. As Barack… Read More

The Bipartisan Policy Center has found that if there is no agreement to raise the debt limit by August 2, the Treasury Department would fail to pay 44 percent of its obligations. That 44 percent of government spending, over a year, is equivalent to a real decline in GDP of 10 percent. The number is that high because the Treasury Department has been making fiscal adjustments since March, in order to stave off… Read More

Russian president Dmitry Medvedev has called for sweeping political and economic reforms, designed to make Russia a modern, advanced democratic society. In his state of the nation address, Pres. Medvedev said Russia needs to evolve from being a “primitive” economy based on raw materials and natural resources to an advanced economy based on unique innovative human knowledge. He also said the new Russia needs to be one of “intelligent, free and responsible… Read More

At 10:59 pm Saturday evening, a 15-minute vote was called. Members of the House were then to vote yea or nay by electronic device. By 11:01 pm, the vote was 197 to 184 and moving quickly. The vote tally will not be final until the Speaker drops the gavel to close the vote. By 11:03 pm, 36 Democrats had voted against the measure, making the special Saturday vote a case of high… Read More

Pres. Obama used his prime-time press conference last night to dive straight into the fray on healthcare reform, pledging commitment to bold action, demanding cost-cutting measures and promising to bring affordable coverage within reach of all Americans. He did not specify if he wanted an “individual mandate” that all Americans buy into one plan or another, and he did not promise that no insurer would be allowed to deny treatment under any… Read More

The Congressional Budget Office (CBO) reported last week that the healthcare plan currently being debated in Congress would likely cause federal expenses related to healthcare to increase. But it did not report that the plan would cause average per-patient costs to increase across the entire healthcare market, as opponents of healthcare reform are alleging. In fact, that philosophical point has not been disproven by any budgetary analysis to date. Douglas Elmendorf, the… Read More

Pres. Barack Obama has proposed a national high-speed rail program that would develop eight to ten regions for high-speed rail (currently, only the so-called northeast corridor, running from Washington, DC, to Boston, through Baltimore, Philadelphia and New York, has a regular high-speed service), as part of a phased-in long-term economic recovery plan. The rail project comes into play also as part of Obama’s plans for a comprehensive energy-sector overhaul, aimed at reducing… Read More

EMPATHY IS NOT PREJUDICE: it is the ability to imagine the point of view of the other. Without this ability to engage in thoughtful outreach, beyond one’s own personal realm of experience, and empathize with the human situation of the other, no jurist can begin to understand the human meaning of the arguments made in their court, and objectivity remains wholly beyond their reach. Empathy is not sympathy. Sympathy means feeling what… Read More

Pres. Barack Obama praised African community values and called Africans to transcend conflict and promote government from the ground up and peaceful transfers of power, democratic values and international cooperation, in his first presidential visit to subsaharan Africa. Addressing Ghana’s parliament in Accra, Obama outlined US policy toward Africa and said endemic conflict was holding back African development. The US president said he had called for $63 billion in US spending for health initiatives… Read More

The Global Carbon Capture and Storage Institute (GCCSI) was announced in L’Aquila by Australia’s premier Kevin Rudd. The GCCSI amounts to a global intergovernmental effort to produce state of the art carbon capture projects to sequester and store carbon produced by industry in the period leading up to a zero-emissions energy infrastructure. Rudd unveiled the project at the Major Economies Forum on Energy and Climate, convened by US president Barack Obama alongside the G8… Read More

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