Rich and poor Americans are slowly but surely staking out separate lives. Increasingly, they have been moving to different communities, and more and more they are also marrying people of similar income and educational backgrounds. This is a phenomenon social scientists call assortative mating.
Today’s report of fourth-quarter U.S. gross domestic product reveals an odd feature of this recovery: As the economy has expanded, imports have not grown more rapidly. That means expansion in the U.S. is providing less benefit to other economies than expected.
The growth in Medicare costs continues to be slow, in what is perhaps the most encouraging fiscal development for the U.S. in decades. If the health-care system is to continue to provide better value for Americans, policy makers need to seize this moment. Sadly, they are instead largely sitting on the sidelines.
White House Budget Director Peter Orszag was poised to become the first member of Barack Obama’s Cabinet to leave, as early as this summer. Then came an appeal from the president insisting that he reconsider.
Losing momentum in the economic recovery, not rising inflation, is the biggest threat as the U.S. seeks to rebound from the worst financial crisis since the Great Depression, according to Citigroup Inc.’s Peter Orszag.
Citigroup Inc. , the biggest bailout recipient among U.S. banks during the financial crisis, hired former White House Budget Director Peter Orszag to be vice chairman of its investment-banking division.