Relevant and even prescient commentary on news, politics and the economy.

Another Reason to Avoid Handwringing Over the Stimulus Spending

Tom Bozzo was just looking at this picture and thought it was worth sharing, a propos of recent postings on the prospective pace of stimulus expenditures: (click to embiggen) This shows subsequent revisions to the CBO’s real GDP forecasts. Barring an exceptionally rapid recovery, GDP looks to be materially below potential output in 2011 (i.e. […]

CBO Estimate for HR 1: Jan 26th, 2009

(UPDATE: For some reason the detailed outlay tables vanished from the PDF linked to here. Leading some to put on their tin foil hats. Fear not, I have uploaded them and they appear under the fold). (UPDATE 2: Larger images at CBO Tables)Via Prof. K. It turns out the ‘suppressed’ CBO ‘Report’ turned out to […]

Op-Ed: Misplaced Handwringing on the Stimulus

Tom Bozzo has observed EconomistMom Diane Lim Rogers run multiple items pertaining to claims that it’s inappropriate to use deficit spending for longer-run public investments. I opine that such claims do not make a hell of a lot of sense. As Rogers is following basically Republican sources (the Washington Post op-ed page, Bruce Bartlett, the […]

Boehner is still wrong (even though the CBO ‘Report’ maybe kind of exists)

by Bruce Webb(IMPORTANT UPDATE: REAL CBO REPORT RELEASED h/t Prof. KCONGRESSIONAL BUDGET OFFICE COST ESTIMATE January 26, 2009 H.R. 1 American Recovery and Reinvestment Act of 2009 (oops link fixed) Reader m.jed points us to this PDF ESTIMATED COST OF AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009 AS PROVIDED ON THE APPROPRIATION COMMITTEE WEBSITE ON […]

Senate Stimulus Package: Tax Cuts, Social Security & SSI

A reader in comments asked why the Bears had not posted on Obama’s stimulus plan. Well, speaking for myself, that was mostly because we didn’t have a plan and still don’t. What we have is the shifting outline of a plan subject to negotiation between the Admin and the Congress, leaving no solid starting point […]

Galbraith: Unemployment Statistics Of The New Deal Era

by Bruce WebbA little antidote to Amity Shlaes and the other New Deal Deniers. From TPM Cafe J.K. Galbraith introduces Marshall Auerback The view that the New Deal was too small and accomplished little, that only WWII ended the Depression, is very widely held. But it is not correct. It is based on a mis-reading […]

Hey, Big Spender!

by Tom Bozzo Look who’s into big government now, via TrafficWorld: “We need to spend an enormous, massive amount of money in rebuilding America’s infrastructure, not only in the short term, but in the long term to underpin the economy once it’s up and growing again,” said R. Bruce Josten, the [U.S. Chamber of Commerce]’s […]

Always Tax Cuts for the Rich?

by Tom Bozzo The ‘McCain Resurgence Plan’ surges on (h/t Creative Destruction): Current rules mandate that investors must begin to sell off their IRAs and 401Ks when they reach age 70 and one half years old. Those rules should be suspended to spare senior citizens from being forced to sell their stock just as the […]

Class War; Appropriateness of the Wealthy’s strategy

A research review by: Divorced one like Bush Introduction: This review was initiated after reading the report linked at the 25 indicators post. A review of the data regarding accepted economic performance indicators for business cycle peaks of year 2000 and 2008 is presented along with a discussion of the relevance to the strategy of […]