The anti-pollution program in Congress contains desirable economic features. But a key component—an auction process covering all permits for carbon emissions—does not seem to be politically viable.
Over the past 24 years, the U.S. rate of personal bankruptcies jumped nearly 350 percent. The rate varies greatly among states. Tennessee’s rate last year—the highest in the nation—was more than 10 filings per 1,000 people, nearly four times the rate in Massachusetts.