Annuity Puzzle Solved: Don’t Buy Them
Defying conventional wisdom, Kent Smetters of the Wharton School and Felix Reichling of the CBO say low demand for annuities is no mystery. If there is an annuity puzzle, it is why people don't short them.
CBO: Immigration Reform Would Cut Deficit, Boost Economy
The Senate plan would reduce the U.S. deficit by about $200 billion and increase real GDP by 3.3% in the next 10 years, according to the Congressional Budget Office.
Bernanke Talks and 10-Year Treasury Yield Zooms Past 2%
Bernanke admits that savers who rely on interest income from savings accounts or government bonds are receiving very low returns even as low interest rates have helped create jobs and support home prices.
House Passes SEC Cost-Benefit Bill
Planning groups are at odds over a bill that passed the House on Friday requiring the SEC to conduct more rigorous cost-benefit analyses before making rules.
FSI Backs Bill Requiring SEC Cost-Benefit Analysis
H.R. 1062 would require SEC to conduct cost-benefit analyses before instituting rules. The White House opposes the measure.
Conservative Economist: Deficit Cutting Has Gone ‘Far Enough’
American Enterprise Institute budget expert John Makin argues that the U.S. is now—thanks to the sequester—on a sustainable fiscal path.
Retiree Entitlements ‘Undermine’ Everything Else: Robert Samuelson
Washington Post columnist Robert Samuelson took a scorched-earth approach on Monday to what he sees as out-of-control entitlement spending.
Paul Ryan’s Budget: Something for Everyone (to Criticize)
"The president promises big government and Ryan promises smaller big government,” a Cato Institute analyst says, while others say cuts are still too big.
Obama on Sequester: ‘No Smart Way’ to Cut $85 Billion in 7 Months
Meanwhile, Fed Chairman Ben Bernanke said the cuts would cause a 0.6 percentage-point drag on growth this year, and Speaker Boehner said senators should "get off their ass" and pass a replacement.
How First Trust’s Wesbury Learned to Stop Worrying and Love the Sequester
The outspoken chief economist of First Trust Advisors is taking Nouriel Roubini, Bill Gross and others head on in his view of the sequester in a new outlook.