Things still aren’t looking up for the Teachers’ Retirement System, or TRS. You’ll remember that it earned a dismal 0.76 percent return on its investments in fiscal year 2012, after predicting 8.5 percent returns. Earlier this year, TRS lowered that expectation, but only slightly: the system is still predicting 8 percent returns this year. But...

While Washington debates spending cuts some deny there is even a problem.

by Ashley Muchow Long has it been the case that Washington politicians turn to the Zandi multiplier to justify stimulus spending under the conjecture that such spending triggers economic growth.  Mark Zandi, of Moody’s Economy.com, is regularly consulted by politicians and the press for his “Fiscal Economic Bang for the Buck” chart postulating that spending initiatives, such...