by Mike KimelCross-posted on the Presimetrics blog. Taxes and Private Sector Investment – Evidence from the Real WorldLast week I had a post (which appeared both here and at Angry Bear). The post included the following graph: Figure 1 The graph looks at every eight year period since 1929 (the first year for which National […]
The Washington Post reports on an interesting development. If people aren’t able to “see” how they personally fit in to the ‘economy’ or ‘carbon footprint’ in a real way, they often ignore the ‘problem’ or keep it so abstract it does not touch them. Three years ago, Dan Yates and Alex Laskey, the co-founders of […]
by Bruce Webb via Brad DeLong we learn that CBO is releasing its 2010 Long Term Budget Outlook on Wednesday at 9AM. Which is also the date that the 2010 Social Security Report is (over-)due to be released. Which means some head to head, apples to apples comparisons of economic projections over the 75 year […]
by Beverly Mannoriginally posted at The Annarborist A Caveat, Walter Dellinger “In Skilling (ably explained by Paul’s posting), my law firm colleagues pressed the argument that the statutory crime of denying anyone of the “intangible right of honest services” was unconstitutionally vague unless it was sharply limited to bribery and kickbacks. Given that the honest-services […]
Paul Krugman is direct and to the point this morning: Recessions are common; depressions are rare. As far as I can tell, there were only two eras in economic history that were widely described as “depressions” at the time: the years of deflation and instability that followed the Panic of 1873 and the years of […]
Hat tip Rebecca for this link to the Curious Capitalist Invariably, when we start debating jobs programs and stimulus spending, people start talking about the long-term problem of government spending. It raises our national debt, and could cause inflation down the road. But what is often overlooked when inflation is brought up, is that not […]
Michael Hudson at New Economic Perspectives points us to the difference between the overall economy and the financial sector: When politicians let the financial sector run the show, their natural preference is to turn the economy into a grab bag. And they usually come out ahead. That’s what the words “foreclosure,” “forfeiture” and “liquidate” mean […]
In Linda’s post on the budget deficit in the comments it was claimed that the budget deficit was Obama’s fault and a chart was cited that showed the deficit in someone’s estimate of real dollars. The standard way of comparing deficits across time and across different countries is to show the deficit — past and […]
by Linda Bealecrossposted with Ataxingmatter What caused the Budget Deficit (Before the Financial Crisis)? Kash on Angry Bear put together a really good graph in 2006 comparing where we might have been if Clinton policies (bad as they were in many cases) had stayed in place compared to where we were and expected to be […]
The Senate voted down the American Workers, State, and Business Relief Act of 2010, 57 to 41 (see an earlier version of the CBO’s estimate here for a breakdown of the Bill). The emergency extensions to weekly unemployment benefits will now expire, leaving many without government support as the labor market improves at snail speed. […]