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Tim Fernholz

Tim Fernholz covers state, business and society for Quartz.
Results 51-60 of 74

Why the $1 trillion platinum coin won't solve the U.S. debt problem

January 8, 2013 When faced with absurdity, it can feel like the only recourse is more absurdity. The U.S. public borrowing limit, as it is constituted today, is fairly absurd: While Congress separately authorizes and appropriates a yearly budget running into the red, it is also threatening to stop paying America’s bills, potentially ...

Baseball players are also worried about the fiscal cliff

December 3, 2012 Athletes aren’t economic indicators, but we can get yet another take on the fiscal cliff, thanks to public interest in sports wheeling and dealing. B.J. Upton, the talented Major League Baseball outfielder, just signed a $75.25 million deal to play for the Atlanta Braves in the next five years. That’s ...

The budget deficit is shrinking faster than at any time since World War II

November 21, 2012 With the fiscal cliff spurring all this talk of deficit reduction in the US, you might think the government hasn’t been reducing the deficits it accumulated fighting the 2008 recession, not to mention the two wars of the last decade and the costs incurred by the country’s structural imbalance between ...

Why is Belarus the only country where Opera is the most popular browser?

November 20, 2012 FROM NEXTGOV arrow Opera lives on in Belarus. Not the musical drama, but the world's fifth most popular web browser. StatCounter, which uses data on browser usage across some 3 million websites, identifies Belarus as the only country in the world where Opera -- which elsewhere is something of a niche product -- ...

Over the fiscal cliff: Bigger budget austerity than in Europe

October 24, 2012 It’s common conservative campaign rhetoric in the US: If unsustainable public debt continues to grow, America will end up in the same boat as Greece. But in fact, Congress is already way ahead of the curve in this respect. Absent new action, next year the U.S. government’s budget footprint will ...

Obama hails renewed Gang of Six effort

July 19, 2011 President Obama hailed as "good news" word on Tuesday that the bipartisan Gang of Six senators presented a framework for a deficit reduction plan that includes tax revenues and is "in the same playing field" as what he hopes to accomplish in talks with Congress. Stepping into the White House ...

U.S. long-term debt outlook worsens

June 22, 2011 Increasing federal debt will be a growing burden on government action, crowding out lawmakers' ability to adopt tax and spending priorities in good times and reducing flexibility during recessions, all while making a fiscal crisis more likely and hindering long-term growth, the nonpartisan Congressional Budget Office said Wednesday. In the ...

For incoming Defense chief, no easy answers on budget cuts

June 13, 2011 The continued costs of U.S. operations in Afghanistan are influencing the administration's deliberations about the pace of withdrawal from that conflict, scheduled to begin next month. However, whether President Obama and his new, budget-focused secretary of Defense choose to recall 5,000 troops or 30,000 will have little effect on the ...

Pawlenty lays out Reaganesque economic agenda

June 7, 2011 Harnessing Reaganomics to the Internet revolution, former Minnesota Gov. Tim Pawlenty laid out his economic vision for the nation -- and his potential presidency -- on Tuesday at the University of Chicago, a bastion of conservative economic academia. Pawlenty outlined an approach to fiscal issues that closely tracks the fiscal ...

Geithner, defending Obama plan, says GOP owns potential U.S. default

May 18, 2011 NEW YORK - Treasury Secretary Tim Geithner updated the Obama administration's deficit-reduction goals on Tuesday, laying out a strategy of multi-year spending cuts, entitlement reform, and tax increases designed to allow Congress to increase the federal debt limit by early August. However, should Republicans hold out on increasing the nation's ...