Keeping you up-to-date on the latest by Manhattan Institute scholars
July 23, 2014
MI Scholars React To Halbig v. Burwell
A Victory For The Rule Of Law, But Merely A Speed Bump For Obamacare
Avik Roy, Forbes.com's "The Apothecary," July 23, 2014
If you visited certain corners of the media yesterday--left and right--you may have read that in a case called Halbig v. Burwell, a federal court in D.C. dealt a "lethal blow" to Obamacare, by limiting the flow of the health law's insurance subsidies. The D.C. court made the right call, based on a strict reading of the law. But the probability that this ruling leads to the collapse of Obamacare is somewhere between zero and zero. That is to say, zero. . .
Why Obamacare Ruling Means More Than It Seems
Diana Furchtgott-Roth, WSJ's MarketWatch.com, July 23, 2014
Tuesday's decision by the U.S. Court of Appeals for the D.C. Circuit has the potential to eviscerate the Affordable Care Act by barring premium subsidies for those enrolled in the 36 federal health-care exchanges. In a 2-1 opinion in Halbig v. Burwell, the court ruled that those insured in state exchanges can get the subsidies, but those in federal exchanges can't and must pay full price. . .
WTKF's "Viewpoints w/Lockwood Phillips" will interview Yevgeniy Feyman at 2 p.m. ET today
WBAL's "The C4 Show w/Clarence Mitchell" interviewed Yevgeniy Feyman, 7-22-14
AFR's "News w/Chris Woodward" interviewed Yevgeniy Feyman, 7-22-14
TRN's "The Jerry Doyle Show" interviewed Yevgeniy Feyman, 7-22-14
Economy & Finance
Europe Is Not Out Of The Woods
Preston Cooper, Economics21.org, July 23, 2014
The recent Eurozone crisis has all the hallmarks of a repetition of history. A regime of fixed exchange rates (the Euro) came under intense pressure from a group of economies that ran astounding fiscal and balance of payments deficits. Such a phenomenon contributed to the collapse of the Bretton Woods system in 1971. Several people have compared the Bretton Woods collapse to the current Eurozone crisis. The world economy could not sustain the Bretton Woods system--is the same fate in store for the Eurozone? . .
Citigroup Settlement's Fine Print: Government Housing Hubris
Howard Husock, Forbes.com's "Philanthropy & Society," July 23, 2014
The $7 billion Citigroup settlement with the Department of Justice, the largest civil fraud penalty in U.S history, has rightfully drawn criticism for failing to compensate the alleged victims of the bank's pre-financial crisis mortgage securitization practices: those investors stuck with non-performing securities who were insufficiently warned of the latter's risks. But the lengthy penalty agreement deserves scrutiny for other reasons, too--notably, its requirement that Citi dedicate $2.5 billion for "consumer relief" that includes financing for affordable housing, as defined by the government. . .
Theodore Dalrymple, City Journal Online, July 22, 2014
I happened to be in Corsica for two weeks during the bitter strike by the workers of the SNCM, la Societé national Corse Méditeranée, the parastatal ferry company with a monopoly on traffic between Marseille and certain ports on the island. Since the island lives by the tourism industry and imports much that is needed to accommodate its tourists in comfort, the strike was a serious economic blow, especially as it came at the beginning of the busy season. . .
New York City/State Policy
Hauling Trash In NYC For Twice The Price
Matthew Hennessey, The Epoch Times, July 23, 2014
Adapted from City Journal online
. . .Less often thought of as a uniformed workforce, however, are the Big Apple's 7,200 sanitation workers, who have been without a contract since 2011. The last contract negotiated by the Uniformed Sanitationmen's Association Local 831 resulted in a 17 percent raise over 54 months for workers. . .
MTA To Riders: Go To Hell-IRR
Bond Buyer with Paul Burton interviewed Nicole Gelinas, 7-23-14
State and Local Budgets
Deal In Detroit Could Signal Cuts To Pensions Elsewhere
DANIEL DISALVO MENTIONED IN NPR.ORG ARTICLE
. . .Even the chance that pensions are at risk might be enough to make public employees accept more cuts at the negotiating table. "That obviously raises new pressures when cities are negotiating with unions," says DiSalvo, who is a senior fellow at the Manhattan Institute's Center for State and Local Leadership. "They can say that this is out there in a way that couldn't or wouldn't have been done before."
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Needed: An independent analysis of Detroit's leadership capacity
Stephen Eide, PublicSectorInc.org, July 23, 2014
The Detroit bankruptcy's "expert witness" has issued her report, the first truly independent assessment of whether the city has any shot at solvency. In reading through it, one can't help but wonder what Richard Ravitch would have said. . .
Energy & the Environment
Policy Rewind: Pipelines Are Safest For Transportation Of Oil And Gas
President Obama's team announced this morning its long-awaited proposal to improve the safety of oil trains across the country.
Read Senior Fellow and Former Chief Economist at the U.S. Department of Labor Diana Furchtgott-Roth's report that argues transporting oil and natural gas by pipeline is a safe and environmentally friendly alternative to oil-by-rail.
Smaller Faster Lighter Denser Cheaper
CRN's "The Dennis Prager Show" interviewed Robert Bryce, 7-23-14
Culture and Society
Ten Numbers About Our Past And Future In Space
Mark Mills, Forbes.com, July 22, 2014
On this 45th anniversary of Apollo 11 putting the first humans on the moon, ten numbers make it clear that it's time to go to Mars. . .
Solving The Immigration Crisis
Peter Salins, FoxNews.com, July 21, 2014
The humanitarian crisis of tens of thousands of unaccompanied Central American children streaming across the U.S.-Mexican border not only poses painful immediate policy choices, but further confounds our already polarized national dialogue on long-term immigration policy. . .
1320 AM's "Capital City Recap w/Michael Cohen," 7-22-14
UW Diversity Report--Is It Really Amazing?
Editors, MindingTheCampus.com, July 23, 2014
Articles by Professor W. Lee Hansen at the Pope Center site and by John Leo here at Minding the Campus attracted wide attention last week by deploring a suggestion in a diversity report at the University of Wisconsin-Madison that called for, among other things, the "proportional participation" of underrepresented racial/ethnic groups "in the distribution of grades." Here two UW professors, Donald A. Downs, a frequent contributor to Minding the Campus, and David Canon, disagree with the Hansen-Leo assessment, and Professor Hansen replies. . .