Wednesday, May 5, 2010

A few interesting posts from the blogosphere

Rolf Winkler talks about last night's frontline documentary on for profit education.
http://blogs.reuters.com/rolfe-winkler/2010/05/05/frontline-exposes-for-profit-education/
The frontline documentary is well worth a look.

Greg Mankiw posts a graphic of what the federal budget will look like in 2020.
http://gregmankiw.blogspot.com/2010/05/federal-budget-in-one-picture.html
Bottom line, after you take out defense, social security, medicare, medicaid and interest expense you're left with 23% that goes to "other". The clear reality, that perhaps the tea party crowd have not appreciated is that if you want to cut the government debt you need to make cuts in these four areas.

Mankiw also talks about price gouging. http://gregmankiw.blogspot.com/2010/05/in-defense-of-price-gouging.html
Apparently there has been a water shortage in New England leading to spikes in the prices of bottled water. Politicians are crying foul and accusing vendors of price gouging. Further evidence of how clueless politicians are when it comes to Econ 101.

Finally, Steve Allen talks about how GM paid back its TARP to the government by borrowing money from the government. Ultimately tax payers are likely to take a $30bn hit on GM. http://stevenallenblog.blogspot.com/2010/05/truth-about-gm-repaying-its-tarp-loan.html