Archive for the ‘Deficits, Debt and Taxes’ Category

The deficits generated by Trump’s budget are much bigger than CBO’s estimates

July 13th, 2017

The figure below, from Senate Budget Committee staffer Bobby Kogan, shows four different estimates of projected budget deficits as shares of GDP: –The lowest line is the administration’s own estimate, showing how if you buy their numbers–and if you do, I’ve got a bridge to sell you–the budget balances by 2027. –The next line up… Read more

Reflections on Trump et al’s weirder than weird economics interview

May 12th, 2017

Yes, there was probably a bit more than the usual dose of cray-cray in President Trump’s interview with The Economist yesterday. But I just can’t muster the energy to crack wise about all that, other than to point out than the bit about how China stopped managing their currency the day Trump won is over-the-moon… Read more

Debt/GDP and growth

April 26th, 2017

I was just on a tax panel this AM with my pal Maya MacGuineas. Maya suggested that high debt levels lead to lower economic growth. Using Richard Kogan’s data on debt as a share of GDP and real GDP/working-age person (which is closer to productivity growth than GDP growth, but seems like a relevant metric… Read more

Paul Krugman goes all “crowd out” on us. Is he right?

January 9th, 2017

Progressives’ Keynesian economist in chief, Paul Krugman, has been second to none in calling out policymakers’ focus on reducing budget deficits when economies were still weak (also known as “austerity”). Given that record, his oped in today’s NYT may surprise some readers. He argued that, as the economy closes in on full employment, fiscal budget… Read more