Christina Romer Takes an Honest Look at the Stimulus

By: Monday October 22, 2012 9:15 am

The constant backwards-looking nature of our political debate means we don’t put as much of a focus on that which could move us forward, regardless of the slip-ups in the past. But from a historical point of view, it’s important to properly assess the past so we learn something from it. In that spirit, I [...]

US Political System Gets Downgraded, Failure to Deal With Economy the Reason

By: Wednesday August 3, 2011 6:50 am

Moody’s has joined Fitch in declining to downgrade the US credit rating after passage of the debt limit deal, though they still have the US on a negative outlook. This means Standard and Poor’s can play their little game and it won’t functionally matter, because the other two agencies still have the US at triple-A. [...]

Obama and His Confidence Fairy Godmother Make Remarks on the Economy

By: Friday July 8, 2011 10:15 am

The President’s remarks on the awful jobs report showed no sign that there was a rethink in the idea that contracting fiscal policy will expand the economy, even though that’s what the data shows. This jobs report shows that state and local governments, which have to “run their budgets like families” and engage in austerity [...]

Obama Threatens Veto – Of Any Debt Limit Deal Under $2 Trillion

By: Friday July 8, 2011 7:15 am

Because we have a governing elite that doesn’t understand basic economic theory, the horrific jobs report will probably not change the mindset of the next 72 hours, which is to cement a deal to massively reduce the deficit, mostly through cutting spending. The White House has convinced themselves that this would increase confidence from the business community and lead to hiring. In fact, the President is so convinced this is a good idea that he, not the Republicans, is using the debt limit as a hostage.

Sperling: Government Budgets Like Family Budgets, Confidence Fairy Lives

By: Thursday July 7, 2011 10:15 am

I’m pretty convinced that Republicans aren’t rushing to accept a worse deal than the one they rejected just a couple weeks ago. The fact that GOP aides are saying that any revenue increases would be offset by lower tax rates should give you a clue. They aren’t going to agree to anything that raises revenue [...]

Near-Term Budget Cuts a Major Threat to Economy

By: Monday June 13, 2011 7:45 am

My latest piece for The American Prospect is up, looking at the effect of near-term budget cuts on the economy. Everyone in Washington is looking hopefully at the Biden debt limit negotiations, but the solution could easily be as bad as the consequences of inaction, if Republicans force immediate cuts in exchange for any deal. [...]

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