“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
I’ll be brief because I’m on vacation this week in an undisclosed location, but the hotel has solid wifi and the family’s still snoozing away, so let’s quickly talk a bit of fiscal impulse (FI). The discussion starts with ‘G’ in the GDP identity: Cons+Inv+Gov’t+Net Exports. An increase in G raises GDP, all else equal,… Read more
[Emily Horton (research asst.) and Emma Sifre (budget intern) are colleagues of mine at CBPP. Just to mix things up a bit, I asked them to choose a figure from the new 2017 ERP and write a bit of text to go with it (I’m featuring figures from the ERP this week). I think they made… Read more