Balance Sheet

Jeff Taylor from the December 2005 issue

Assets

Single-Europe Theory

The 2005 Economic Freedom Index finds economic divides fading away on the European continent. Powered by the growth of places such as Estonia, the eight new E.U. members see their per capita incomes rise nearly twice as fast as that of the old 15-member E.U. since 1995.

Morbid Rail

Seattle and King County's plans to build a monorail hit reality. Local pols realize that $42 million a year in car excise taxes cannot possibly fund the $2.1 billion segment of what could be a $10 billion project.

Kelo KO

The heavy in the Kelo eminent domain debacle, the New London Development Corporation, heeds an order by Connecticut Gov. M. Jodi Rell to rescind eviction notices sent to homeowners who lost the case.

Tax Simplification

Eighteen states implement the Streamlined Sales Tax Project in a bid to make online sales easier and collect some revenue along the way.

Fish Market

The Bush administration plans to expand on a permit-trading approach to fishing grounds. A system popular in Alaska for a decade could be reproduced around the country.

Flood Convergence

Hurricanes Katrina and Rita force re-examination of a wacky flood insurance system that encourages people to live in dangerous places and shift damage claims to public insurers.

Auto Wash

The Progressive Policy Institute declares a truce with the auto. "It is time for a new consensus that is based on the realization that we will never get Americans out of their cars," the Clintonian outfit admits.