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. […]
ANOTHER LOOK AT CBO REPORT FOR THOSE FOREVER YOUNG
Birth year and partisanship
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 […]
Comment on Del Negro, Giannoni & Schorfheide (2014)
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 […]
Calvo Pricing, Precautionary Saving and Financial Frictions
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 […]
Stopping Job Piracy in Dayton, Denver,… and maybe even Kansas City
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 […]
Fixing the Border Crisis and Social Security in One Go
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 […]
Endurance, Shovedown and Pancaking
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 […]
SOCIAL SECURITY: CBO TELLS IT LIKE IT IS . . . MOSTLY
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 […]