Robert Waldmann Kevin Drum stresses the very sound point that even if part of current unemployment is structural, we should stimulate to get rid of the part which is cyclical. I don’t have a serious disagreement and choose to debate his guess as to the level of structural unemployment for the sake of debating. “The […]

by reader Ilsm American Empire and “exert upon the world the full impact of our influence for such purposes as we see fit and by such means as we see fit” (Henry R. Luce); why the generals push back on Gates’ minimal 3% increase in their war machine, disguised as cuts. Generals push back on […]

by Dan Crawford (Rdan)(H/t Ken Houghton) Eric Leeper’s paper Monetary Science, Fiscal Alchemy∗, also found ungated in the Financial Times: Jackson Hole papers finally available, mentioned Angry Bear in a footnote page 12 in the section on reactions to the lastest CBO report. Here is the fiscal alchemy of Bruce’s post on the CBO report. […]

Daily Kos: Simpson to disabled vets: You cost too much Joan McCarter: Fresh off of being forgiven by the White House, Simpson has a new target. :RALEIGH, N.C.—The system that automatically awards disability benefits to some veterans because of concerns about Agent Orange seems contrary to efforts to control federal spending, the Republican co-chairman of […]