Debt Ceiling

The Economics of Debt Ceiling, Affordable Care Act, Welfare

/ Matthew Clemente / Leave a comment

The Economics of Debt Ceiling, Affordable Care Act, Welfare

The most recent Planet Money podcast discussed the three most significant political issues of this past week—(1) the debt ceiling, (2) Affordable Care Act and (3) welfare system debates. Although discussion of the debt ceiling is somewhat dated (since we did not hit it), the story explains what is at stake in debt ceiling debates include the outcome of a possible default.

Here is a description of the podcast:

On today’s show: Three ripped-from-the-headlines stories from Planet Money.

What A U.S. Default Would Mean For Pensions, China, And Social Security

If the government defaults on its debt, people all over the world who have loaned the government money won’t get paid on time.

One Key Thing No One Knows About Obamacare

Obamacare won’t work unless healthy people buy insurance. No one knows whether they will.

Is Welfare A Rational Alternative To Work?

A new paper argues that the value of various welfare benefits add up to well over $30,000 a year. People on welfare disagree.

Looking Across the Pond to Prevent Political Gridlock

/ Matthew Clemente / Leave a comment

Looking Across the Pond to Prevent Political Gridlock

After sixteen days of government shutdown and being on the brink of federal default, Congress passed, and the President signed, a bill that will re-open the government and raise the debt ceiling, preventing high stakes budgetary brinkmanship at least until 2014.  In keeping with what has become a theme this past week this story from NPR’s Story of the Day podcast and Weekend Day Edition Saturday discusses possible solution to gridlock in Washington.  The story interview’s comparative political scientists about how the American political system compares to European democracies, which generally do not find themselves deadlocked by political paralysis.  While is it unlikely that the U.S. will soon amend the Constitution to adopt a parliament, the story discusses some important differences between how elections are financed and political negotiations are conducted in Europe and the U.S.

Here is how the segment begins: 

Fareed’s Take: Gridlock and Polarization in Washington

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Fareed’s Take: Gridlock and Polarization in Washington

On the most recent episode of Fareed Zakaria GPS, Fareed devoted much of his show to the current state of political polarization and gridlock in the Nation’s capital. He began with his “take” on the problem.  He then discussed the topic with a panel comprised of Vanessa Williamson (Harvard PhD student and author of  The Tea Party and the Remaking of Republican Conservatism) , Norm Ornstein (of the conservative think tank the American Enterprise Institute) and Jeffrey Toobin (legal columnist for the New Yorker). 

Here is a link to  Williamson’s commentary on the Tea Party.

Toobin’s take on Republican radicalism and the effects of the primary system can be found here.