Links: Recession risks; the really, really bad Senate GOP health plan; see ya later…

June 22nd, 2017 at 10:16 pm

A few links to check out, both over at WaPo.

First, no one knows when the next recession will hit though it’s closer now than when I started writing this sentence. But I’ve got two recessionary concerns: one, fiscal policy, both discretionary and automatic will be thoroughly insufficient due to the toxic mix of Congressional dysfunction and austerity; two, financial deregulation will raise the likelihood of another bubble.

Second, the Senate health care plan is worse than the House plan. Specifically, it’s pretty much the House plan but with much deeper Medicaid cuts over the long term.

Finally, I’m outta here, headed for the far-east for a few weeks, and I’m gonna do my best not to cast my gaze westward. You know what that means, right? It means that you, OTE’ers, have to keep the forces of economic darkness from gaining any ground in my absence. Be assured, I’ll hold you personally responsible if the sh__ goes south while I go east.


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6 comments in reply to "Links: Recession risks; the really, really bad Senate GOP health plan; see ya later…"

  1. dwb says:

    No, you should have *three* recessionary concerns: If/When the next recession hits, it will be painfully obvious that the Fed’s forecasts were wrong and it has spent too much time peevishly focused on non-existent inflation, treating the 2% “target” as a ceiling.

    Once it’s painfully obvious that the Fed tightened too much, calls to end Fed independence will grow even louder and bipartisan.

  2. Jill SH says:

    Happy Trails!
    Will await new insights upon your return.

  3. jo6pac says:

    Don’t forget to take some pictures to share with us staying behind;)

  4. Jim Tarrant says:

    McConnell may be the most cynical and destructive Senate Majority Leader ever but he is a clever con artist. He knows that the right wing mobilization against Obamacare basically destroyed the Democratic Party’s Congressional prospects for years to come and so he understands that the hideous bill his GOP has secretly authored may well kill the GOP in at least the HOR next year for the same reason. Hence, I actually think he hopes it fails so that the Trump Administration can continue sabotaging the ACA until it actually collapses. Since the Democrats are hopelessly bad at messaging and communicating to the broader public, the GOP messaging will triumph. Agree that a mild recession is a possibility but what effect it will have on the 2018 elections is uncertain.

  5. Tom says:

    Does this mean no July jobs report analysis? Please say it ain’t so!

    • Jared Bernstein says:

      I know! But don’t worry–the able Ben S will sub in for me. This may be the 2nd or 3rd one I’ve missed in 25 years, which is either impressive or suggests “get-a-life.”