Some on the left are defining successful deficit reduction too modestly, Penner writes, threatening to leave future fiscal policy perilously constrained.
Garrett McNamara may have set a new world record for the largest wave ever surfed. Garrett McNamara surfed a wave off Portugal that was about 100-feet high.
The US and Europe are handling their fiscal crises with political brinkmanship, resulting in piecemeal solutions. The US seems to have adopted German Chancellor Angel Merkel’s much maligned step-by-step approach to problem-solving. Politically, that may be the only choice.