Category Archives: Economics
The Gang of Six’s Weird Budget Math
Writers more qualified and skilled than I me will undoubtedly discuss the political viability of the Gang of Six’s deficit reduction proposal [PDF] today. Here, for example, is Ezra Klein. For now, I just wanted to make two observations about … Continue reading
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When an abstract blows your mind: American economic history
Haven’t gotten around to reading the full paper yet (and sorry, I can’t seem to find an ungated version for non-NBER subscribers), but Lindert and Williamson certainly know how to tease their findings: Building social tables in the tradition of … Continue reading
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The Entitlement Paradox: Putting Lieberman-Coburn in Perspective
I think successful deficit reduction will require the government to raise significantly more revenue than it does right now. But to the extent entitlement cuts are a part of the solution – and I think they too have to be … Continue reading
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Follow up to “Is Labor’s Share of Income at Historic Lows?”
Anyone who knows me will chuckle at the accusation that I’m questioning BLS’s labor share data because I’m a closet conservative. The point of this blog – other than self-serving therapy – is to add a small shove in the … Continue reading
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Scott Hodge’s Selective Analysis of Debt Drivers Since 2001
Note: I cite some of my work for Pew in this post, but as always, per the disclaimer, I’m only speaking for myself here. Scott Hodge of the Tax Foundation manages the impressive feat of looking at CBO deficit data … Continue reading
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Just Say “No” To Publicly-Financed Stadiums, Especially in LA
Via the excellent City Ledes, I see that Philip Anschutz is trying to woo an NFL team to Los Angeles (including the Chargers, to which I say, well, don’t bring a knife to that fight, Phil). Of course, LA has … Continue reading
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Is Labor’s Share of Income at Historic Lows? It’s Not Clear Cut.
Both David Frum and Talking Points Memo are drawing attention to data from the Bureau of Labor Statistics showing that labor’s share of income is at its lowest point since 1947: The implication here is that workers are capturing a … Continue reading
American Government is (Probably) More Productive After the Great Recession
Economists observe that productivity often rises during or immediately after a recession. The most logical cause for this phenomenon is that private firms are rational, and prefer to lay off their least productive workers first. I wondered if the same … Continue reading
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Could Repealing the Bush Tax Cuts Pay for Social Security?
TLDR version: Fully repealing the Bush tax cuts would probably more than cover the Social Security shortfall over 75 years. Partially repealing them probably wouldn’t. You would still get debt reduction benefits from either solution, though they would represent a … Continue reading
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Historical Tax Revenues Are Irrelevant and Insufficient
Roberton Williams has a terrific post at TaxVox that’s worth reading in full. The gist of his argument is that historical revenues as a percent of GDP are, contra Paul Ryan, not a normative benchmark for the government going forward. … Continue reading
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