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The Northwest Plan: a Real Fix for Social Security

…were made equivalent to immediately and per manently increasing the Social Security payroll tax from its current level of 12.4 percent (for employees and employers combined) to 14.10 percent. Alternatively,…

‘Headline’ Surplus/Deficit and ‘Headline’ Debt

…Operating surplus/deficit = unified deficit – net investment (public capital investment – depreciation of public capital) 3. Primary surplus/deficit = unified deficit – interest outlays on inherited debt 4. Cyclically…

Time to move beyond "Nothing" on Social Security?

…some alternative plans to address future discontinuities. Which is a very sensible question, because if and when the Social Security Trust Funds (DI and then later OAS) approach depletion, we…

The Vanishing Surplus-Revealed

…Boskin Sense and Nonsense About Federal Deficits and Debt (h/t MG) But I suggest this from that paper validates my overall point (bolding mine). Table 1 Alternative Budget Surplus/Deficit Concepts…

Baker suggests second opinions

…crew insists that there are no alternatives to his plan; we have to just keep giving hundreds of billions of dollars to the banks. Perhaps Geithner is right. But before…

Elizabeth Warren says sack CEOs?

…adequately weighing potential pitfalls. “We want to ensure that the treasury gives the public an alternative approach,” she said, adding that she was worried that banks would not recover while…

Diagnosing the Dynamics of Social Security

…Security was not static at all, its outlook changed depending on particular projections that varied dynamically not only within each Report but between them. 1997’s Intermediate Cost alternative was not…

Conservatives for Conservators

Robert Waldmann The USSR (Union of Serious Socialist Republicans or House GOP caucus) just came out in favor of nationalizing banks. From their alternative non budget [O]ur plan supports a…

Bleg: James Tobin and Paying for the Viet Nam War

…Tobin’s preferred alternative?* UPDATE: The full quote: Klamer: We experience stagflation….How would you account for this experience within a neo-Keynesian neoclassical framework? Tobin: That gets us into the history of…