President Obama’s 2017 budget is out today, and here’s why I think it’s worth a look. Yes, he’s approaching lame duck status and Congressional conservatives wouldn’t even use the thing for door stop. But I think it’s relevant in ways that you might find resonant, including vis-a-vis campaign politics. But what’s really working my last… Read more
A commenter, after gazing at these figures, asks: how much influence do presidents really have over the economy anyway? I dove deeply into this here, riffing off of an academic paper comparing economic outcomes between terms when D’s or R’s controlled the White House. The economy grows faster under Democrats, which is good to know,… Read more
Over the holidays, I had a hand in a few pieces folks here might find engaging. The Atlantic asked a number of folks from different fields to briefly hold forth on developments that gave us hope and despair re economic fairness. My take was top-down despair and bottom-up hope. The International Economy ran a forum… Read more
Ben Spielberg and I choose 12 charts that we think make important points re economic policy in 2015 from CBPP, OTE, and a few other places. Check ’em out over at WaPo.
For years, since about 2010, fiscal policy has been working against monetary policy. The central bank has pushed the pedal to the metal while, at least from late 2010-2013, fiscal policy has been contractionary. Not quite European levels of austerity, but enough in 2013 to zap 1.5 percentage points off of GDP growth. In fact,… Read more