The "Bush tax cuts," passed in 2001 and 2003, remain the single largest cause of America's structural deficit -- that is, the deficit not caused by the collapse in tax revenue when the economy goes into recession.

Those cuts are set to expire this year.

I understand the fear that this is not a good time to raise taxes. But the impact of marginal shifts in tax rates on growth is pretty unclear.

Ahead of Hungary?s municipal elections scheduled for October 3, the center-right government?s communication seems once again aimed at scoring points with the local public even at the expense of losing them in international relations.

The Wall Street Journal, 9 August, 2010

• En Hongrie, les curieuses manieres de M. Orban (Le Monde, Editorial, July 20, 2010) The editorial expresses its surprise at the assertive conduct of the new conservative government while forcibly trying to overwrite the rules of the two decade old democracy in Hungary and its attempts to dictate to international organisations.

• The Wall Street Journal created a summary of the immediate responses from analysts to the sudden breakdown of negotiations between the IMF and the new Hungarian government. WSJ online, 22 July, 2010: Hungarian Communication on IMF: Confusing

THE LAST TIME he served as Hungary's prime minister, Viktor Orban made himself a persona non grata in Washington...

Among the first acts of Mr. Orban's new government was a law granting passports to ethnic Hungarians living in other countries.

The passport measure might be dismissed as symbolic. But a second major initiative of the new government -- an attempt to impose sweeping new controls on the media -- is not.