Global economy

Our New America health policy colleagues Elizabeth Carpenter and Sarah Axeen in an op-ed in the Philadelphia Inquirer build on their recent paper on The Cost of Doing Nothing (report here, blog summary here) and explain why we can't recover from the economic crash if we allow people to get crushed by health costs.

Some of the Philly piece naturally focuses on Pennsylvania, where health costs have been a factor in the loss of 207,000 manufacturing jobs since 2001. But their overall message applies to the nation as a whole.

In the face of historic job losses and the worst financial crisis in 80 years, why did health care remain a salient issue in the final weeks of a tough campaign? The answer is simple: When people are worried about their jobs, they are nervous about the security of their health coverage. And when people are trying to figure out how they are going to pay their bills, they are concerned about being able to afford medical care.

Daily News (07/06) features Michael Cohen discussing Obama's parallels with FDR.
The National (07/05) posts Peter Bergen's analysis of continuing instability in Pakistan.
The Australian (07/05) quotes Flynt Leverett on the United State's loss of influence in the global economy.
The National Interest (07/03) cites Flynt Leverett on the increasing irrelevance of the G8.
Time (07/02) features Peter Bergen debating if Osama Bin Laden still matters in today's political climate.

At least once every decade since at least the 1960s, there has been talk of serious tax reform in Congress.  I came across a 1998 quote from then chair of the Senate Finance Committee, Senator Roth announcing his desire to review the international tax provisions in light of the current state of global markets. He stated: "We need to fundamentally rethink the tax code with a view to enhancing American competitiveness in the new global economy and helping the American workforce. In order to ensure that we enact policies that will lead the United States into the 21st Century at the forefront of competition, as Chairman of the Finance Committee, I intend to hold hearings over the coming year to explore the ramifications of the changing world economy and the needed reforms in both the international tax and trade areas. The cornerstones of these hearings will be ensuring economic growth in our domestic economy and competitiveness overseas. We must determine how our existing international tax regime, which was designed to address the needs of a totally different age, can be reengineered to complement the changing international marketplace and changing business profiles. We must also strive to encourage the creation of more jobs that draw on these new opportunities."  [Source: "U.S. Finance Committee Chair Roth's Address at Forum on Taxation of Multinationals," 98 TNI 192-24, October 1, 1998.]