What has been missing in Washington for the past two or three decades is a serious debate about the role of the federal government. What programs are effective and justified? Who deserves government benefits and how much? The issue is not whether we’ll have big government or small government. To paraphrase President Clinton: The era of small government is over. …

Moody’s Investor’s Service released a very interesting report on Amazon.com Inc. this week. It was distinctly different from the usual Wall Street research, which tends to be glowing about anything related to the company’s founder and chief executive officer, Jeff Bezos. I am a fan of his work and company, so in order to check myself, I seek out opposite …

European Central Bank (ECB) President Mario Draghi is discovering that exiting quantitative easing is harder than introducing it. The more the euro rises, the more downward pressure it puts on inflation, making it harder for the central bank to taper its bond-buying program, which in turn boosts the euro. It’s a vicious circle, driven largely by the improved economic outlook …