by Dale Coberly REALITY 101 ANOTHER LOOK AT CBO REPORT FOR THOSE FOREVER YOUNG I wrote a post the other day trying to explain what the CBO’s number meant when they said it might be necessary to raise the payroll tax an extra 3.5% to pay for Social Security for the next seventy five years. […]

The New York Times has a wonderful graphic miss-urled How the Year You Were Born Influences Your Politics. Jon Chait points out that this URL (and a tweet) are accurate only if you are white (he doesn’t add that it only works if you are also a US citizen). I think you will enjoy clicking […]

I would like to try to critique Del Negro, Giannoni & Schorfheide (2014) “Inflation in the Great Recession and New Keynesian Models” h/t Brad DeLong. Before the jump I have to say 3 things 1) I have just skimmed the paper. I didn’t work through the equations. 2) I am very hostile to the whole […]

I’m pretty sure the title informed potential readers that this is one post to skip. If anyone was foolish enough to read this far, I must stress that I am not arguing that standard micro founded DSGE models have false implications. I am merely noting that the effort to avoid false implications demonstrates the unseriousness […]

As I have reported before, job piracy is a big problem in metropolitan areas like New York City and Kansas City. Giving subsidies to relocate existing facilities is a net loss for the country and for the region as well. The flip side is that the existence of job piracy makes it possible for companies […]

Stay with me here. Because I am almost serious about this proposal. Or at least it highlights the contradictions (while not Heightening the Contradictions). The Border Crisis: tens of thousands of unaccompanied minors crossing the U.S. border. Social Security ‘Crisis’: per ‘Reformers’ one that is driven by pure demography – too few future workers to […]

Noni hasn’t written a macro-philosophical op-ed for Angry Bear in a few years.   She adds a different touch to our macro.   By Noni Mausa   Endurance, Shovedown and Pancaking Over the past few years I have been trying to put a name to a dominant part of the human economy.  Its defining nature […]

by Dale Coberly For some time now the Social Security Trustees have been reporting in the “media” using scare tactics like this: “Social Security Going Broke Sooner Than We Thought! Faces [fill in the blank] Trillion Dollar Deficit!” And I have tried to explain that what those numbers mean is that we need to raise […]