By next Wednesday, the so-called supercommittee, a bipartisan group of legislators, is supposed to reach an agreement on how to reduce future deficits. Barring an evil miracle - I'll explain the evil part later - the committee will fail to meet that deadline.
If this news surprises you, you haven't been paying attention. If it depresses you, cheer up: In this case, failure is good.
A new study finds that a jobs program for newly released prison inmates left them 22 percent less likely to be convicted of another crime. This initiative, by the Center for Employment Opportunities, more than paid for itself: each $1 brought up to $3.85 in benefits.
Medical experts say the practice leads to the emergence of antibiotic-resistant bacteria, but farmers say it helps produce healthier animals for more profit.
The truth is that the United States has been behind the curve not only in Tunisia and Egypt for the last few weeks, but in the entire Middle East for decades. We supported corrupt autocrats as long as they kept oil flowing and weren't too aggressive toward Israel. Even in the last month, we sometimes seemed as out of touch with the region's youth as a Ben Ali or a Mubarak. Recognizing that crafting foreign policy is 1,000 times harder than it looks, let me suggest four lessons to draw from our mistakes:
The past three years have been a disaster for most Western economies. The United States has mass long-term unemployment for the first time since the 1930s. Meanwhile, Europe's single currency is coming apart at the seams. How did it all go so wrong?
To make drug policies more humane and more effective, the U.S. should rehabilitate non-violent, casual drug users, and undermine the power of organized crime.
THESE are the worst of times for workers, and the best of times for companies. At least that is one way to read the newly revised national economic statistics.
With President Obama and Republican leaders calling for cutting the budget by trillions over the next 10 years, it is worth asking how we got here - from healthy surpluses at the end of the Clinton era, and the promise of future surpluses, to nine straight years of deficits, including the $1.3 trillion shortfall in 2010. The answer is largely the Bush-era tax cuts, war spending in Iraq and Afghanistan, and recessions.
For the fact is that right now the economy desperately needs a short-run fix. When you're bleeding profusely from an open wound, you want a doctor who binds that wound up, not a doctor who lectures you on the importance of maintaining a healthy lifestyle as you get older. When millions of willing and able workers are unemployed, and economic potential is going to waste to the tune of almost $1 trillion a year, you want policy makers who work on a fast recovery, not people who lecture you on the need for long-run fiscal sustainability.