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Tag Archives: austerity
The Economist Says Europe’s Leaders are Sleepwalking through an Economic Wasteland
John Micklethwait, Editor-in-Chief of The Economist, summarizes an article in The Economist: “Many people would like to believe that the euro crisis is over. In reality, Europe’s leaders are sleepwalking through an economic wasteland. If they do not act, the … Continue reading
Posted in Economy, Government
Tagged austerity, debt, economics, economy, Euro-zone, Europe, stagnation
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Sequestering Meals on Wheels Could Cost the Nation $489 Million per Year through Increased Costs to Medicaid
The Center for Effective Government finds Meals on Wheels sequestration could cost taxpayers $489 million per year through increased costs to Medicaid. “Sequestering Meals on Wheels funds could cost taxpayers far more than it saves. While across-the-board spending cuts that … Continue reading
Posted in Economy, Government, Health, Poverty, Socio-economic Status
Tagged austerity, economy, Federal budget, government, health, Meals on Wheels, Medicaid, poverty, sequestration, socio-economic status
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Krugman Summarizes End of Austerity Economics, Except for the Elite 1%
Nobel winning economist, Krugman: “Economic debates rarely end with a T.K.O. But the great policy debate of recent years between Keynesians, who advocate sustaining and, indeed, increasing government spending in a depression, and austerians, who demand immediate spending cuts, comes close … Continue reading
Posted in Economy, Government
Tagged Alesina, austerity, contractionary economics, economy, expansionary austerity, IMF, Keynes, Keynesians, Krugman, Reinhart, Rogoff
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Study: Balanced Budget Amendment Equals Great Economic Damage
What would happen if a balanced budget amendment (BBA) was passed and implemented? The Center on Budget and Policy Priorities quotes estimates from a Macroeconomic Advisers analysis: If the 2012 budget were balanced through spending cuts, those cuts would total … Continue reading
Posted in Economy, Poverty, Taxes
Tagged austerity, balanced budget amendment, contractionary economics, deficit-reduction, economic growth, economy, expansionary austerity, fiscal constraint, fiscal policy, government, government spending, great recession, Keynes, Nobel economists, prosperity, unemployment
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Awarding Winning Nobel Economists Warn Against Austerity
In a letter addressed to President Obama, Speaker Boehner, Minority Leader Pelosi, Majority Leader Reid, and Minority Leader McConnell a number of Nobel winning economists had a number of things to say but their last point summarizes a point I have posted about … Continue reading
Goldman-Sachs Issues Austerity Warning
“Sequestration, spending caps, and reduced war spending will together reduce real federal consumption and gross investment by 11% over the next two years, ” according to Alec Phillips, an economist at Goldman Sachs. “That’s a very big drop in a … Continue reading
Nobel Economist, Stiglitz, Says “Romney’s Plan is Based on Magic”
Nobel winning economist Joseph Stiglitz on Romney’s economic policies: “The budget cuts that Romney/Ryan propose will certainly slow growth. If the European downturn continues that could tip us into a recession. The cuts certainly won’t provide the kind of stimulus … Continue reading
Posted in Economy, Elections, Income Distribution, Inequality, Presidential Leadership, Taxes
Tagged arithmetic, austerity, debt, economic growth, education, GDP, inequality, infrastructure, macroeconomics, magic, Romney, Ryan, Stiglitz, tax cuts
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Understanding Nobel Laureate Krugman 101, Well Maybe 601
Whether one agrees with Nobel-winning Princeton economist Krugman or not is not the point of this post. Instead I found a succinct summary of Krugman’s positions on a host of economic issues that I think does a great job of capturing … Continue reading
Posted in Economy, Government, Health, Income Distribution, Socio-economic Status, Taxes
Tagged austerity, bond vigilantes, deficit, demand, economic growth, financial crisis, health care, Keynes, Krugman, middle class, over borrowing, recession, revenue, rich, Simpson-Bowles, Social Security, spending cuts, stimulus, taxes
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The Fiscal Cliff Could Cost the U.S. 5.1% of GDP
If Congress doesn’t take action the U.S. will automatically fall into a fiscal cliff with huge impacts on our economy. Quartz’ Tim Fernholz reports: Absent new action, next year the US government’s budget footprint will contract more rapidly than those of Greece, … Continue reading
Posted in Economy, Government
Tagged austerity, Congress, contractionary economics, economic growth, economy, fiscal cliff, GDP, recession, sequestration
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Austerity vs Stimulus: Great Britain vs. the U.S.
A real world experiment has been running since the onset of the recession. The U.S. decided to utilize a Keynesian stimulus program while Great Britain adopted the Tories’ austerity program. Which country is doing better? According to research conducted by … Continue reading