Archive for the ‘Deficits, Debt and Taxes’ Category

Headline writers: enough already with the disembodied trillions!

February 9th, 2016

President Obama’s 2017 budget is out today, and here’s why I think it’s worth a look. Yes, he’s approaching lame duck status and Congressional conservatives wouldn’t even use the thing for door stop. But I think it’s relevant in ways that you might find resonant, including vis-a-vis campaign politics. But what’s really working my last… Read more

Dynamic Scoring in Action: Unwarranted Certainty

August 5th, 2015

Once the Republicans took the majority in Congress, they instructed the budget scorekeepers to do “dynamic scoring:” building macroeconomic feedback effects into their revenue estimates from proposed changes to tax policy. Because economists broadly assume that taxes distort decisions about activities with growth impacts, like labor supply or capital investment, cutting taxes often generates more… Read more