Archive for the ‘Fiscal Policy’ Category

A Weird Mo(u)rning re Fiscal Policy

March 26th, 2014

I spent a few hours testifying yesterday in what has to be one of the strangest places on earth right now: the US House of Representatives.  This isn’t a “pox on all their houses” rap–there are good, earnest, and honest people on both sides trying to figure out how to get out of the terribly… Read more

Daddy, Where Do Fiscal Headwinds Come From?

March 21st, 2014

In prepping materials for testimony next week, I put together some familiar pictures of the non-spending spree that has occurred under the Obama administration so far, contrary to the pervasive conservative meme.  Just outlays from 2008 to 2013, adjusted for population and inflation.  Also, I review of the full panoply of spending cuts (77%) and revenues (23%)… Read more

A Quick Plug for Specificity When It Comes to Needed Economic Policy

March 21st, 2014

Paul K is of course correct regarding the timidity of the responses to the economic crisis—more specifically, the deep and persistent demand contraction.  As for what’s holding policy makers back, however, I’d offer something that’s not in Paul’s piece. As he suggests, “class interests” are in play (when are they not?).  If you are a… Read more

More on CBO and the Limits of Economic Analysis

March 9th, 2014

Jeff Madrick–whose work I’ve always enjoyed and learned from—misinterprets a recent post of mine, perhaps because I wasn’t clear enough in my exposition. It’s worth revisiting because there are portentous issues embedded in this broader argument.  My piece argued while some recent work by the Congressional Budget Office is certainly worthy of critique (and I… Read more