The Washington Post has a story this morning about how the Federal Aviation Administration hasn't been adequately inspecting the spare parts being used in commercial aviation in the U.S. The story doesn't say it directly but a lack of resources seems to be at last part of the reason.
On Friday, Greg Mankiw again argued that it makes sense to get rid of the U.S. penny and quotes Treasury Secretary Hank Paulson saying it would make sense. Part of the reason Mankiw wants to eliminate the penny is that it costs more than one cent to make it.
Some quick thoughts.
Here's this week's "Fiscal Fitness" column from Roll Call for what I hope is your reading pleasure.
Someone Please Stop Me Before I Budget Again
February 26, 2008
If you're curious why it takes IRS 3-4 months to get the economic stimulus checks out the door look no further than the anti-tax community.
IRS, which supposedly has been modernizing its computer system for around two decades, never seems to get the job done. Part of the reason is that it's incredibly complex. Part of the reason is that there are administrative limits placed on the project from inside IRS that have made progress slow and painful at best.
Wall Street constantly complains about how Washington incessantly debates issues instead of acting on them. That's why its almost comical to watch the current situation as Wall Street continues to debate whether there is or will be a recession while Washington has already enacted legislation to deal with it.