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Tag Archives: economic growth
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
From a research note by Goldman Sachs chief economist Jan Hatzius: The Rapidly Shrinking Federal Deficit “The federal budget deficit is shrinking rapidly. …[I]n the 12 months through March 2013, the deficit totaled $911 billion, or 5.7% of GDP. In … Continue reading
Yesterday, John Boehner during a Meet the Press interview said lowering marginal tax rates will promote more economic growth. He was challenged a bit by David Gregory but as usual the journalist was ill prepared for the debate. Boehner indicated … Continue reading
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
“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
At Essential Reading on the Deficit/Debt Issue kavips posts: “Did I hear someone say they couldn’t find empirical evidence that higher taxes create jobs? http://www.epi.org/publication/books_rethinking_growth/ http://www.thefiscaltimes.com/Columns/2011/06/24/Will-Higher-Taxes-Tank-the-Economy.aspx#page1 http://www.bloomberg.com/news/2011-06-02/raising-taxes-isn-t-a-kiss-of-death-for-employment-growth-history-shows.html http://www.decisionsonevidence.com/2012/04/more-jobs-through-lower-tax-rates-a-look-at-the-evidence/ http://finance.yahoo.com/news/tax-cuts-rich-dont-spur-151649273.html http://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2010/04/a-tax-on-jobs-experimental-evidence.html Rutgers economic historian James Livingston has reasserted it in an excellent book: … Continue reading
Laura D’Andrea Tyson, former chairwoman of the Council of Economic Advisers under President Bill Clinton, explains in Economix why unemployment remains high: “Why is the long-term unemployment problem so much more severe in this recovery? Part of the answer lies … Continue reading
After reading “Chances of Countries Attaining an Above Median GDP Per Capita Based on Adult Literacy Rates” a friend asked if I had data on the relationship between tertiary education and GDP per capita. Yes, the World Development Indicators provide … Continue reading
The U.S. News reports the Obama Administration created more jobs in its first term than George W. Bush did in his first term.
Answer: Long-term economic growth. And what is Congress’ strategic policy for long-term economic growth? Hmmm.