Archive for the ‘Fiscal Policy’ Category

You Go, House D’s!

December 11th, 2014

This may well be out-of-date by the time you read it but as I write it, the House D’s are considering blocking the CRomnibus budget bill proposed by the R majority to keep the gov’t running past its deadline at midnight tonight. Details here, but the R’s went too far by adding in repeals of… Read more

The House and the Fed go in opposite directions on financial market oversight.

December 10th, 2014

Ensuring that financial institutions have adequate capital buffers is an essential line of defense against the bubbles and busts that have characterized the US business cycle in recent decades, at great cost to the living standards of most households. So I was happy to see the Fed’s proposal to kick up banks’ reserve requirements, especially… Read more

Why is our macroeconomy doing so much better than Europe’s?

December 1st, 2014

Over at PostEverything. Bonus for OTE’ers: here’s an update of a figure I made awhile ago tracking Eurozone GDP, government spending (both in real terms), and unemployment. What I find revealing here is the fairly clear–for this sort of thing–initial increase in public spending to offset the downturn and the subsequent stabilization of GDP and… Read more

Progressive wonks always bring a spreadsheet to a knife fight.

November 11th, 2014

I completely agree with my old colleague Peter Orszag who argues this AM that the new Republican majority in the Senate would make a big mistake were they to appoint a strongly partisan proxy to head the Congressional Budget Office when the directorship opens up next year. While I’ve had some disagreements with their work,… Read more