America Has a Terminal Case of Fiscal Paralysis

Published on February 19, 2026

Last week’s release of the Congressional Budget Office’s long-term budget projections prompted the merest murmur of concern. That’s America’s fiscal problem in a nutshell: It greets detailed and impeccably nonpartisan projections of looming financial catastrophe with a shrug. Tell us something we didn’t know. We’re busy right now.

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I Chase Credit-Card Points. Bilt Changed My Mind.

February 19, 2026
It is hard to say if there is much economic benefit or cost to increased bank profits. On the one hand, it may allow banks to issue more credit to lower-income borrowers with worse credit.

Initial Unemployment Claims Down 23K, Lower Than Expected

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In the week ending February 14th, initial jobless claims were at a seasonally adjusted level of 206,000. This represents a decrease of 23,000 from the previous week's figure and was lower than the forecast of 223,000.