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 […]
Edmoney is tracking the allocation and spending of education-related stimulus grants. The map is here. Some states have gotten the funds into circulation better than others. Selected states below (GA was highlighted by them): California, 78% New Jersey, 63% Georgia, 62% Indiana, 60% Oklahoma, 50% Mississippi, 42% Massachusetts, 41% Michigan, 41% Kentucky, 39% Pennsylvania, 35% […]
by Linda Bealecrossposted with Ataxingmatter Dealing with the Sunset of the Bush Tax Cuts (Part V in a series)–dividends at capital gains rate IN this series, i’ve been discussing the merits of enacting a new series of tax cuts that mimic, at least in part, the Bush temporary tax cut legislation that expires at the […]
This is the title of a post of a diary at another site, one of no particular interest on its own because it just puts people on the wrong road. A straight out analysis of the economic numbers underlying Social Security ‘crisis’ shows pretty clearly that there is no ‘there’ there. To the extent that […]
I though a little different perspective on the impact of trade on the real GDP accounts might be interesting. The first chart is of imports market share, or imports as a share of what we purchase in the US. In the second quarter of this year imports market share rebounded to about where it was […]
Robert Waldmann Paul Krugman asks a rhetorical question which I dare to answer. He is still considering Kocherlakota’s argument that low interest rates imposed by the monetary authority must cause deflation. “First of all, if inflation isn’t sticky, how is it that the Fed can set short-term interest rates at all?” Second of all, there […]
by Bruce Webb Dean asks: 1) How much higher are real wages projected to be in 2040 than today? In other words, how much richer do we expect the average worker to be 30 years from now? 2) How did the 2010 Trustees Report change the projections for 2040 wages compared with the 2009 report? […]
by Mike KimelCross posted at the Presimetrics blog Employment During Recoveries from Recessions – Long Term Trends The following graph of the employment to population ratio was obtained from the Federal Reserve Economic Database (FRED). The employment to population ratio shows the percentage of American civilians age 16 and over that happen to be employed. […]