We’re getting job creation in healthcare and educational services. We’ve been getting that all along. It’s demographically driven, it’s funded by the government, and that’s held up.
Mark Zandi Quotes
The Bush tax cuts should be extended permanently for families with annual incomes of less than $250,000 and should be phased out slowly for those making more than that. Raising taxes on anyone now, when the economic recovery is so fragile, would be a mistake.
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Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.
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There is plenty of blame to go around for the U.S. housing bubble, but not much of it belongs to Fannie Mae and Freddie Mac. The two giant housing-finance institutions made many mistakes over the decades, some of them real whoppers, but causing house prices to soar and then crater during the past decade weren’t among them.
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Births
- 1815 - Otto von Bismarck
- 1885 - Wallace Beery
- 1826 - Lady Dorothy Nevill
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- 1940 - Wangari Maathai
Deaths
- 1993 - Alan Kulwicki
- 1960 - David Seabury
- 1994 - Robert Doisneau
- 1984 - Marvin Gaye
- 1917 - Scott Joplin
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