Abby M. McCloskey is the program director of economic policy at the American Enterprise Institute (AEI) where she disseminates the work of AEI’s economic policy team. McCloskey also studies and writes about various financial services policy issues.
Immediately before joining AEI, McCloskey was director of research at the Financial Services Roundtable where she worked on financial regulatory reform, including Dodd-Frank and Basel III. McCloskey has also worked for US Senator Richard Shelby, and for the Mercatus Center as a Charles Koch Institute associate. While at Mercatus, she created and hosted a video series on financial markets issues.
McCloskey has a B.A. in economics from Wheaton College.
Director of Research, Financial Services Roundtable, 2010–12
Legislative Correspondent, Office of Senator Richard Shelby, 2009–10
Koch Associate, Charles Koch Institute and Financial Markets Working Group, Mercatus Center, 2008–09
Supporters of President Obama are working overtime to backtrack from his promise that "If you like your health-care insurance, you can keep it. Period." While the president has conceded that this statement was inaccurate, the administration doesn't seem to have learned its lesson. The damage control plan is to spread another falsehood about the Affordable Care Act.
President Obama keeps asserting that the debt limit has never been used "to extort a president or a government party." Treasury Secretary Jack Lew is selling the same story, saying "until very recently, Congress typically raised the debt ceiling on a routine basis . . . the threat of default was not a bargaining chip in the negotiations." This is simply untrue.
The fifth anniversary of the financial crisis has come and gone. There was much discussion about safety and soundness of big banks and progress of new safeguards, such as the Dodd-Frank Act and the Consumer Financial Protection Bureau (CFPB).
Over the weekend, Lawrence Summers withdrew his name from consideration to be the next Federal Reserve chair. Summers made the right decision. His confirmation hearing was bound to be a circus, leaving the most powerful economic post in the world in limbo.