Archive for the ‘Fiscal Policy’ Category

One of the more outrageous things ever said re fiscal policy…and that’s a high bar.

March 17th, 2015

House Republicans released their budget today, and I found it to be…um…how can I put this nicely?…orthogonal to reality. As I wrote earlier: The policies put forth in this document suggest that America’s main problem is that the poor have too much and the wealthy, too little. The budget plan “corrects” this perceived imbalance by… Read more

Systematically over-predicting interest rates…why and what does that portend?

February 23rd, 2015

Over at the Upshot, but here’s the key figure which tells a heckuva story. Typically, forecasts that continuously err on one side versus more random error suggest there’s a structural change in the economy that’s left out of the model.   Plus, you gotta love the Queen Elizabeth anecdote and picture. Not to be rude,… Read more

The tyranny of averages, “deltas” and the need for some version of zero-based budgeting

February 9th, 2015

I’m trying to finish my book so this post will be briefer than it should be as it’s a weighty topic, but let me scratch out the idea as a marker to return to it. Reading much budget analysis of late, especially regarding spending levels and those unfortunate caps against which appropriators from both side… Read more

There’s much to be said about the President’s new budget proposal…

February 2nd, 2015

…and here are some tasty items to get you started: My man Bob Greenstein holds forth here. I take an angle I haven’t seen elsewhere here, though I explicitly admit that I may be nuts. My other man, Paul Van de Water, points out in a tweet some hawkish commentators are neglecting the progress that’s… Read more