Hey, What’d I Miss? OTE 10/07 — 10/14

October 14th, 2014 at 1:27 pm
  • Looking at the connection between full employment, trade deficits, and the dollar as a reserve currency.
  • Exploring the debate around wages and technology.
  • Responding to Paul Krugman on trade deficits as a barrier to full employment.
  • Pondering the impact of the sharp decline in budget deficit.
  • Reviewing Ed Kleinbard’s new book, We Are Better Than This: How Government Should Spend Our Money.
  • Correcting misimpressions of Klienbard’s NYT Op-Ed on the progressiveness of the US tax system.
  • Analyzing the association between child mortality, inequality, and the ACA’s Medicaid expansion.
  • Discussing the importance of extending pro-work supports in key anti-poverty programs.
  • Posting our online session on TalkPoverty Live.
  • Adjusting a standard labor market slack measure for the downward bias in the unemployment rate.
  • Fact-checking some claims about the impact of tax cuts in Kansas.
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2 comments in reply to "Hey, What’d I Miss? OTE 10/07 — 10/14"

  1. Jill SH says:

    Regarding factoids (Tax cuts in Kansas): I think a lot of this starts with just the isolation of numbers/statistics from context of the economy as a whole, both in political advertisements as well as on talk shows. Two examples:

    Here in NH we have a Republican running for governor who has stated that he’ll bring 25,000 jobs to our state within 3 years. (That’s all he says in the ad; ya’ gotta believe him — he was a CEO.) Sounds like an impressive number. But, first, that is about 8300 jobs a year. I checked the state’s most recent year’s job growth: 7700 new jobs. So he’s really just saying he’ll do 600 more jobs a year. He complains about our current governor’s “snail’s pace” economic growth, 1.2%. His 8300 more jobs per year is just 1.28% of our total employment of 652,000.

    But the state itself plays this game. NH runs an ad touting our State Lottery (the other thing where we were first in the nation) and how, in its 50 years, the Lottery has raised 1 billion dollars for education. The fact that gets left out is that we now spend $3.5 billion on education EACH YEAR, and that’s really all paid with property taxes. Property taxes are about 65% of the taxes collected in NH.

    When a friend asked me once about “Well, we have all that money from the lottery that pays for education…” I responded: “You have two kids in the local high school who cost $10,000+ a year. How many lottery tickets did you buy last week?”

    People (voters) don’t really hear/get info giving statistical context at all. Keep fighting, JB.