…the great “Looming Unfunded Twenty-Two Trillion Dollar Deficit! . . . stealing our children’s future,” reported in all the high-end news sources by all the high-end reporters, columnists, nonpartisan experts,…

…sector intertemporal budget constraint is not binding. This means that public policy is not even Pareto efficient. In particular it means that increased budget deficits are good policy (unless they…

…necessarily a one-to-one link between foreign demand for reserves and U.S. trade deficits are wrong. In fact, as I pointed out last week, America’s move into persistent trade deficits in…

…to balance bilateral trade deficits between the US and each of our trading partners. This calculation assumes that persistent trade deficits are due to a combination of tariff and non-tariff…

…destructive attempt to fix something that wasn’t broken. These nations can’t stop doing bad stuff on trade because they weren’t doing bad stuff before Trump came along. What about America’s trade deficit?…

…story.” Me As an example, for about the past thirty years I have been aware that the great “Social Security unfunded deficit” could be solved immediately and forever by simply…

…over the 2024–2034 period and increase the cumulative deficit for that period by $0.2 billion. A $20 billion rescission would reduce revenues by $44 billion and increase the cumulative deficit by $24 billion. A $35 billion…

New study finds wealthy are different? via Alternet. Since today and yesterday is shaping up to be deficit days in posts from me, this note caught my attention: One especially…

…keep in mind the differences between federal deficit and public debt). Based on going over there to read the walk through, I will post his conclusions only: The United States…

…tax agreement. But Feldstein did see some good in the greater tax deal—it would temper deficit fears: Obama wanted to continue the 2010 tax rates permanently for all taxpayers except…