by Robert Pollin  who is  Co-director, Political Economy Research Institute and Professor of Economics, University of Massachusetts, Amherst (reposted with permission from the author from his website Back to full employment) A Modest Proposal for Jacob Lew: Acknowledge Three Simple Facts about U.S. Fiscal Reality January 15, 2013 by Robert Pollin In a reasonable world, […]

AB reader Fred C. Dobbs directs us to the Economic Assumptions chapter for the President’s budget. Starting on page 171, we see: When the economy is operating below potential, the unemployment rate exceeds the long-run sustainable average consistent with price stability. As a result, receipts are lower than they would be if resources were more […]