Over at WaPo. One thought about point #7: 7) While analysis of this budget proposal has been extensive, there is one point on which I’ve seen too little analysis: Does the Defense Department really require an extra $54 billion to meet its mission? Lawrence Korb, who has street cred in this space, emphatically says no… Read more
I’ve got a piece in WaPo this AM on the Trump stock market rally and what it tells you about the current dynamic, where the markets are just shaking off the fact that DC is pretty much in chaos. While I stress the skewed distributional implications of what’s going on… But broadly speaking, to answer… Read more
“Dynamic scoring” is one of those phrases that sounds way more innocent than it is. It’s the process of guesstimating what impact your budget proposals will have on economic growth, and in turn, revenues flowing into the Treasury. For example, if your budget includes big tax cuts, as Trump’s will, that’s obvious a revenue loser,… Read more
They’re all connected, as I argue over at WaPo. If you’ve got an idea for how, in the interest of insulation from the whims of fact-averse appropriators, to best self-fund our statistical agencies, leave it in the comments section.
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