Spain released its austerity budget today, and it focuses on cuts to social spending much more than any tax increases. Government ministries saw their budgets slashed by 8.9 percent for next year, as Prime Minister Mariano Rajoy’s battle to reduce one of the euro zone’s biggest deficits was made harder by weak tax revenues in [...]

With the complete capitulation to the austerity economy and the confidence fairy, maybe we should retreat to any of the few remaining areas where we can see any vestige of progress. I would argue that fuel economy is one of those areas. The Obama Administration wants to set up what I believe is a fairly [...]

Chair of the Council of Economic Advisers Christina Romer made this statement on the GDP increase of 3.5% in the third quarter: “Data released today by the Commerce Department show that real GDP grew at an annual rate of 3.5 percent in the third quarter of the year. This is in stark contrast to the [...]