GDP Rises to 3.1% in Final Q3 Estimate, But the Main Drivers Won’t Last

By: Thursday December 20, 2012 10:00 am

The economy grew at a faster rate than expected in the third quarter, according to the final revision on GDP released today. GDP increased at a relatively healthy 3.1% clip in Q3, a step up from the 1.3% increase in the final revision in Q2. Both figures are annualized. The Bureau of Economic Analysis explains [...]

On Taxes, Redistribution, and the Need to Focus on Pre-Tax Inequality

By: Friday November 30, 2012 8:30 am

Ryan Grim has some backstory on the White House’s aggressive opening bid last night. It turns out that President Obama offered this same deal to Republicans earlier this month at the White House. Republicans expected that Tim Geithner would bring a softer offer with him, part of the trend verified by recent history of the [...]

Bernanke: Economy Still Weak, No Time for Austerity

By: Tuesday November 20, 2012 12:55 pm

Ben Bernanke’s speech on the economy today offered no new information. It was more of an overview on the state of the economy, and it hit on many very familiar themes which Bernanke has expressed for a long time now, including the need to loosen lending standards in a type of reinflation of the housing [...]

Economic Indicators Still Point to Weak 2013

By: Tuesday November 20, 2012 7:02 am

Morgan Stanley continues to predict a weak 1.4% growth for the US in 2013. I assume some of this pessimism has to do with the potential for a nasty fiscal slope. But this forecast mirrors their previous forecast in September, so nothing has changed in their analysis in the two months where policymakers crept closer [...]

Janet Yellen’s Game-Changing Speech for Monetary Policy

By: Wednesday November 14, 2012 12:00 pm

The President opened his press conference by designating the top two priorities as jobs and growth, and then spent the next 60 minutes answering questions about David Petraeus and Susan Rice and tax rates and Benghazi and deficit reduction. And Obama didn’t seek to break out of that constraint and suggest actual near-term job creation [...]

Pressure Increases for a Grand Bargain Without Any Policy Rationale

By: Friday November 9, 2012 7:00 am

Chuck Schumer, obviously running point for Senate Democrats on fiscal slope negotiations, claims that a chastened GOP will be willing to deal. But the only party who has made any concessions on a deal has been Chuck Schumer, floating an extension of current tax rates for upper-income earners, accompanying a limit on deductions. He went [...]

The Electorate is Diverse; We Need a Policy Framework to Match That

By: Wednesday November 7, 2012 7:50 am

It’s pretty obvious that what set President Obama to a re-election victory begins and ends with a new electorate. Obama won less of the white vote than Michael Dukakis. He still won the election, because America looks different than it did in 1988.

Senate Dems Can Wait for Stronger Caucus to Deal With Fiscal Issues

By: Wednesday November 7, 2012 6:23 am

President Obama’s re-election win last night was so scrutinized and double-scrutinized, I doubt I have anything to say about it that’s new. But the Senate races, where if the current standings hold Democrats will have won 25 of the 33 seats up for grabs last night, and expanded their majority to 55 (on the assumption [...]

Natural Disasters and Economic Disasters Require the Same Urgent Response

By: Friday November 2, 2012 7:45 am

David Callahan had a smart column in The American Prospect about natural and economic disasters, and why they must be met with the same level of urgency. If most of us take for granted that we should be there for our fellow citizens during natural disasters, using the tool of government, why is it so [...]

Another Study Shows Payroll Tax Cut Expiration Damaging to the Economy

By: Friday October 19, 2012 10:00 am

I don’t know that we needed another analysis of the effect of the expiration of the payroll tax cut, but JPMorgan Chase provided that yesterday. They estimate a cut to GDP of 0.6% next year from canceling the payroll tax cut, which will suck $125 billion out of the economy. As mentioned above, we no [...]

Germany Seeks to Strip National Sovereignty from Eurozone Members

By: Wednesday October 17, 2012 1:27 pm

The EU will hold one of its regular summits, and the participants are all patting themselves on the back because they don’t believe they have an immediate near-term crisis to deal with. Except they do. That crisis isn’t about whether or not Spain will accept a bailout (the Spanish government is reluctant, because they would [...]

Advertisement
FOLLOW FDL NEWS DESK

Close