Under “Stimulus Now, Austerity Later” Plans, We’d Already Be in Austerity

By: Wednesday October 31, 2012 6:22 am

The Committee for a Responsible Federal Budget, a Pete Peterson-funded front group associated with the Fix the Debt campaign, basically the biggest deficit scolds out there, wrote this piecetrying to differentiate their thirst for austerity from the fiscal cliff, which is an austerity package in and of itself. They claim that it’s important to “go [...]

White House Returns to Making Work Pay as Potential Stimulative Tax Measure

By: Friday October 26, 2012 6:11 pm

The White House, per Zachary Goldfarb at the Washington Post, is considering returning to the working family tax cut used in 2009-2010 as part of the Recovery Act, to replace the payroll tax cut, which expires at the end of the year. The refundable tax credit would not deal with the Social Security trust fund [...]

The Deliberate Confusion on the Fiscal Slope

By: Friday October 26, 2012 7:45 am

Is the threat of the fiscal slope already hurting the economy? The GDP estimate shows business investment slowing, but that’s been a relatively permanent condition since the Great Recession (since before it, according to some analysts). Every now and again you get reports that the potential for fiscal cutbacks and resulting uncertainty has cost America [...]

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 [...]

A123 Systems Bankruptcy a Consequence of Consolidation Rather Than “Stimulus Bust”

By: Tuesday October 16, 2012 12:14 pm

In a bit of bad timing, A123 Systems, the advanced battery manufacturer which received one of the Energy Department’s stimulus grants to fund its operations, filed for Chapter 11 bankruptcy protection today, and will in all likelihood default on some debt. The battery maker did say that it would sell its automative facilities in Michigan [...]

Economists: 2013 Another Weak Year for the US Economy

By: Monday October 15, 2012 8:30 am

The US got a good retail sales number for September today, which portends a decent holiday shopping season. But even this indicator led to forecasters predicting a sluggish 1.6% GDP growth for the third quarter. And with electronics up 4.5% for the month, we could simply be seeing an iPhone 5-generated sugar high. This slow [...]

Larry Summers Wants to Extend Fiscal Stimulus

By: Friday October 12, 2012 9:15 am

It’s come to this in America: the most prominent champion of extending stimulus, including the payroll tax cut, is Larry Summers. And he also obliterated the argument for the confidence fairy succinctly. The current debate over the fiscal cliff suggests that legislators are hoping to replace the year-end contraction with a deficit-reduction package that would [...]

VP Debate: Biden Serves as Attack Dog

By: Friday October 12, 2012 6:21 am

Vice President Joe Biden gave the debate performance last night that a lot of Democrats were looking for out of President Obama. He was aggressive and pointed, let nothing go unquestioned, and used all of the attack lines and avenues that Obama left on the table. That Republicans are trying to use this aggression against [...]

Warren’s Success: A Politician Actually Fighting for Jobs

By: Thursday October 11, 2012 1:10 pm

Elizabeth Warren had what by all accounts was a solid debate performance last night, punctuated by a pivotal moment where Warren ripped aside the moderate mask Scott Brown has been trying to wear this whole campaign. He tried to come across as a staunch defender of women’s rights, but Warren would have none of it, [...]

The Narrow Great Debate, Cont’d

By: Tuesday October 9, 2012 2:52 pm

Believe me when I underline that I take no pleasure in saying this, but Adam Davidson is mostly right. There are differences between Barack Obama and Mitt Romney on a host of issues, and the candidates would be happy to tell you all about them. On most of the core economic issues, however, the candidates [...]

Global Slowdown Places Even More Emphasis on Fiscal Stimulus

By: Tuesday October 9, 2012 8:30 am

I think most Americans have the sense that we’re stumbling through the fourth year of a financial crisis with a low-growth recovery. What is less appreciated is the way in which America is actually performing the best among almost all nations at this point. We’re mired in a global slowdown, one with knock-on effects for [...]

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