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
Archive for the ‘Deficits, Debt and Taxes’ Category
The uncertainty around the deficit numbers
While lots of ink and bits and bytes were spilled yesterday regarding the deficit projections in the President’s new budget, it’s very important to consider the uncertainty around such estimates, especially when you’re talking ten years out in the future. A bump in growth, interest rates, inflation, productivity, health costs, not to mention policy changes… Read more
There’s much to be said about the President’s new budget proposal…
…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
The 529 microcosm: a revealing political train wreck re an inefficient tax break
This little train wreck over the White House’s proposal and then retraction of a plan to cut back on a wasteful yet beloved tax benefit is highly instructive. It’s a clear example of how much hot air there is in these fiscal debates, where policy makers and pundits scold everyone within earshot of the need… Read more
1) The deficit is down because of less spending and more revenues 2) themes in tax reform to worry about.
The picture I’m about to show you is not a shocker if you follow this sort of thing but I made it for a presentation this AM and damnit, I’m gonna use it! It shows federal gov’t spending and receipts since 2007, in dollars adjusted for both inflation and population growth. The deficit/GDP ratio’s in… Read more