Each Friday, I look at what is happening in President-Elect Joe Biden’s transition to the White House. This week: Iran will likely provide an early test for Biden and his national security team.

As policymakers debate the "fiscal cliff" of spending cuts and tax increases scheduled to take effect at the end of the year, slowing federal spending is already hampering economic growth (WSJ). Redu…

A majority of economists surveyed by Bloomberg expect the Federal Reserve to decide today to extend Operation Twist, but not to initiate another round of quantitative easing. Operation Twist is an ef…

Erskine Bowles and Alan Simpson have founded a non-partisan organization to advocate for budgetary reform, the Campaign to Fix the Debt. The organization will focus on policy development and educatio…

Over its 23-year history, Chesapeake Energy has paid taxes that amount to only 1 percent of its pretax profits (Bloomberg). The company—a leader in shale gas development—has benefited from a century-…