Today marks the first anniversary of the release of the Commission’s report, Housing America’s Future: New Directions for National Policy. As readers of this blog know, our report highlights what we consider the most urgent housing challenges facing our country.
The picture that emerges is one of an Iran willing to follow the letter of some of its agreements, but only when the cost to its nuclear progress is not prohibitive. Iran continually refuses to explain its research into building nuclear weapons and ballistic missiles, and has found ways to advance its nuclear program, even under the terms of the interim deal.
Last week, Pew Research Center released research mapping conversations on Twitter. Using keyword searches and tweet interactions, such as replies and mentions, they found six types of networks that form interconnected communities around topics. One network in particular is identified as the “polarized crowd.” This community cluster consists of two large, disconnected groups of users with very few, if any, users that are involved in both conversations.
Buried in the nearly 950-page Agriculture Act of 2014 – more commonly known as the farm bill – is a provision that is of great importance to the thousands of families who rely on the rural housing programs of the U.S. Department of Agriculture.
For much of the four decades between 1970 and 2010, U.S. crude oil production was steadily declining, after reaching a historical high of 9.6 million barrels per day (MBD) in 1970. Over the past several years, however, the tight oil boom in the United States, along with the development of Canada’s oil sands, has reversed that trend – increasing the production outlook not only for the United States, but for North America generally.
Why Was the Housing Bubble So Much More Damaging than the Dot.Com Bubble?
By Jared Bernstein, Senior Fellow at the Center on Budget and Policy Priorities
" Exploding debt bubbles just take a lot more time to mop up than equity bubbles. ... But the point is that bubbles are deeply damaging. Some less so than others maybe, but even there, a longer term perspective of the lasting damage is sobering. No one’s saying we shouldn’t have a business cycle. They’re endemic. But there’s no reason why it has to be a shampoo cycle: bubble, bust, repeat.”
On Tuesday, February 11, the House of Representatives passed a suspension of the debt limit through March 15, 2015, as an amendment to an unrelated Senate-passed bill (S. 540) to expedite Senate consideration. If S. 540 becomes law, upon reinstatement next year, BPC estimates that the new debt limit will be roughly $1 trillion higher.
Dr. Janet Yellen testified yesterday before the House Financial Services Committee in her first public appearance on the Hill since being sworn in as Federal Reserve Chair. She spoke on a range of issues, including monetary policy and financial regulatory policy, but we will focus here on her remarks discussing the state of the U.S. economy and fiscal policy.
The BPC Economic Policy Program hosted a panel discussion on Thursday, January 30 with three prominent economists who shared predictions on the state of the U.S. housing market in 2014. Richard Smith, BPC Housing Commissioner and CEO of Realogy Holdings Corp., moderated the forum.
The Congressional Budget Office (CBO) released its latest Budget and Economic Outlook earlier this week. There has been much discussion of appendices B and C of that report, which addressed the impact of the Affordable Care Act on jobs and health insurance coverage. We have no new insight to add to those discussions, and instead have focused on using CBO’s newest projections to update the BPC baseline, which incorporates the new projections and extends their implications through 2053.