19 | December | 2012

Wednesday, June 19, 2013

Christmas card from the U.S. oil market: gas prices have fallen to the lowest level since last December

Mark J. Perry | December 19, 2012, 7:03 pm

Thanks in part to a huge 17% increase in U.S. oil production so far this year, gasoline prices are now at their lowest level since last December.

Economics, Pethokoukis

Is Dallas Fed president Richard Fisher another possible convert to NGDP level targeting?

James Pethokoukis | December 19, 2012, 4:27 pm

A great catch by Reihan Salam, who notices this bit over at the WSJ’s econ blog: U.S. companies “have the resources they need to do what we want them to do–in this case, invest in job creation,” Federal Reserve Bank … read more >

Economics, Pethokoukis

There’s a smart way to cut debt, and there’s a dumb way to cut debt. Guess which one the U.S. is doing

James Pethokoukis | December 19, 2012, 3:46 pm

At last check, President Obama is offering $1.3 trillion in revenue increases and $930 billion in spending cuts, not including saved interest expense, in his fiscal cliff negotiations with House Speaker Boehner. To the president, this is a “balanced” offer. But … read more >

An Iron Dome launcher fires an interceptor rocket near the Israeli city of Ashkelon November 19, 2012. REUTERS/Darren Whiteside

Foreign and Defense Policy, Middle East and North Africa

Iron Dome: Repelling asymmetrical threats

Andrew Houston-Floyd | December 19, 2012, 3:31 pm

The ageless competition in military technology between offense and defense entered a new era with Israel’s successful deployment of the Iron Dome missile defense system in its recent conflict with Gaza – a system that will likely have important geopolitical … read more >

Society and Culture, Education

The IBR plan needs reform

Andrew P. Kelly | December 19, 2012, 3:25 pm

Yesterday in The American, I argued that the current Income-Based Repayment (IBR) plan for student loans may well chew up a larger and larger portion of the federal budget in the years to come. Under the newest iteration, nicknamed Pay-As-You-Earn, … read more >

Carpe Diem

Tech trends in 2012

Mark J. Perry | December 19, 2012, 2:51 pm

1. Here’s a list of Apple’s top downloaded iPhone apps of 2012. 2. From Forrester’s annual “State of Consumers and Technology”: 84% Of U.S. Adults Now Use The Web Daily, 50% Own Smartphones, and Tablet Ownership Doubled in 2012 To … read more >

Carpe Diem

Christmas shopping: 1958 vs. 2012

Mark J. Perry | December 19, 2012, 1:33 pm

One way to illustrate your good fortune of being a holiday shopper today is to measure the cost of consumer goods by the number of hours it takes working at the average hourly wage to earn enough income to purchase … read more >

104

Society and Culture

Judge Robert Bork, RIP

Arthur C. Brooks | December 19, 2012, 11:00 am

Judge Robert Bork has passed away at the age of 85. A longtime legal scholar, judge, and friend of AEI, he leaves a long legacy as a scholar, a public servant, and a passionate voice in policy. At AEI, Judge … read more >

Economics, Taxes and Spending

If you want record income tax revenue, extend the Bush tax cuts

Andrew Biggs | December 19, 2012, 10:40 am

My colleague James Pethokoukis points out that the CBO projects that tax revenues will rise by over $2 trillion in the next decade simply due to economic growth. Today, revenues are unusually low because the economy is weak, but as … read more >

U.S. President Barack Obama, who won a second term in office by defeating Republican presidential nominee Mitt Romney, waves as he addresses supporters during his election night victory rally in Chicago, November 7, 2012. REUTERS/Jim Bourg

Politics and Public Opinion, Polls

Is America still a center-right country? (Part 1): Ideological identification

Karlyn Bowman and Andrew Rugg | December 19, 2012, 10:05 am

Is America shifting leftward? President Obama’s re-election and recent surveys provide some evidence that America is more centrist than center-right. A straightforward way to evaluate the question is to examine self-reported ideological identification. Some national surveys show moderates narrowly outnumbering … read more >