Monthly Archives: November 2008

It’s clear that, in addition to Obama’s significant victory at the polls, Democrats will widen their majorities in both houses of Congress (however, it seems unlikely that the Republicans will lose the filibuster in the Senate). This is likely to have some significance in terms of tax and trade, and massive implications for foreign policy. Of particular concern is the expansion of entitlement spending, the status of trade agreements and expected increases in capital gains and income taxes. For several reasons, I suspect that the scope of reforms under the new government will be considerably more limited than most supporters … Read more