WASHINGTON -- My last column on the federal suit against the bond-rating rating agency Standard & Poor's drew some critical reactions that are worth sharing with readers. In the column, I argued that S&P, which badly erred in rating bonds ...

WASHINGTON -- The Obama administration's suit against the rating agency Standard & Poor's makes for riveting headlines and lousy history. We want to blame the financial crisis and Great Recession on greed and dishonesty. The charge that S&...

WASHINGTON -- At the core of Washington's exasperating budget debate lies a confusing disconnect. On the one hand, we're urged to reduce huge and endless budget deficits, which are said to threaten a future financial crisis. The Congressional ...

WASHINGTON -- Japan's new prime minister, Shinzo Abe, is trying to revive the country's flagging economy, and we could all learn from the exercise. You may recall that, in the 1980s, Japan was widely anointed as the next economic superpower, ...

WASHINGTON -- The Washington Post reports that the odds are increasing -- perhaps to the point of near certainty -- that the so-called "sequester" will take effect March 1. This would be a pity. For non-budget wonks, the sequester mandates about $...

WASHINGTON -- The American Century is dead. Long live the next American Century.

The subtext of political debate these days is that the United States is in decline -- a proposition often portrayed as self-evident. The economy lacks ...