PRESS
February 3, 2010
It's budget week in Washington, and the $1.27 trillion deficit projected for fiscal 2011 should remind us
that deep recessions, especially when accompanied by large spending sprees, produce outsized deficits ]
for years to come. The federal government has been down this road recently before, first under Ronald
Reagan and then George H. W. Bush and Bill Clinton. The way those presidents responded can help us
chart the likely path of fiscal policy for the next half decade.
Presidential budgets are always a little overwhelming. Barack Obama's, for example, has a surprising
number of proposals usually seen in Republican budgets‐‐new tax breaks for business, including ending
capital gains tax on new investments in small businesses; a freeze on large areas of discretionary
spending; termination of some 120 small federal programs; and increases in military spending. Less
unexpected, Obama's budget brings back proposals from past Democratic plans, including big spending
increases for higher education, infrastructure and research and development; tax hikes for big banks, big
oil and big coal; and higher tax rates for high‐income people (by letting the Bush tax cuts for top earners
expire and by cutting back carried interest).
Other Contributions and Articles
- Even Reagan Raised Taxes
February 3, 2010 Commentary in Forbes Magazine - The Clinton boom was real -- then Bush happened
January 7, 2010 Will Marshall, Salon - Prominent Senators Offer Proposal to Cut
Payroll Tax, Create Jobs
January 26, 2010 Jake Berliner, NDN Blog - An Argentinean "nightmare" --
US economic advisor to the White House explains
January 31, 2010 An Interview with Alia Papageorgiou, New Europe - Keeping the Focus on the Struggle of Everyday People: 2010 Edition
January 27, 2010 By Simon Rosenberg, Huffington Post - Obama Critics say his Economic Vision is Hazy
January 25, 2010 Don Lee and Jim Puzzanghera, LA Times - Is Support For Cap-And-Trade Waning?
January 8, 2010 By Amy Harder, NationalJournal.com - Science Matters
January 5, 2010 By Robert J. Shapiro, Washington Post - Carbon Tax More Likely
January 4, 2010 By Robert J. Shapiro in response to
Margaret Kriz Hobson, NationalJournal.com - Discussions on Cap and Trade Give Rise to Unlikely Alliances
December 20, 2009 By Peter Asmus for the Sacramento Bee - Back to the Future
December 14, 2009 By Eleanor Clift, Newsweek - Bush Deficit Hurting Obama
December 10, 2009 By Sam Stein, Huffington Post - A carbon tax would be sunnier
December 9, 2009 By Robert J. Shapiro and Elaine C. Kamarck - Americans Favor Carbon Tax Over Cap and Trade, Two-To-One
December 1, 2009 By U.S. Climate Task Force, PR Newswire - Analysis: Obama faces heavy lifting at jobs forum
December 1, 2009 By Tom Raum, Associated Press - HEALTH REFORM: The Cost Of Doing Nothing
November 11, 2009 By Karen Tumulty, Time.com - Approach With Caution... Q&A
November 5, 2009 An Interview Isabelle Oderberg, The Business Spectator - Creditors' Representative: 'Argentina's swap offer is not serious'
October 26, 2009 By César Muñoz Acebes, EFE - More Investors Ready for Argentina Debt Deal
October 23, 2009 By By Matthew Cowley, The Wall Street Journal - Job losses mar recovery, create woes for Dems
October 12, 2009 By Tom Raum, Associated Press - States Offer Route for Jobs Spending
October 6, 2009 By Gerald F. Seib, The Wall Street Journal - New Report Details Costs of Cutting Greenhouse Gas Emissions
October 6, 2009 By Juliet Eilperin, The Washington Post - Message to World at the G-20 Summit: Don't Depend on a Strong U.S. Recovery to Bail You Out
September 24, 2009 By Robert J. Shapiro, The Huffington Post - Uncertainty Clouds Emissions Trading Future
September 18, 2009 The Brisbane Times - Cooling to the cap-and-trade push
September 11, 2009 The Australian Financial Review - Study Sounds Alarm on Market Risks of Senate Climate Bill
September 9, 2009 American Chronicle - Can "flexible broadband pricing" fix the digital divide?
September 3, 2009 The Ethiopian Review - The Case for a Carbon Tax to Control Climate Change
August 10, 2009 Op-ed in The Globalist - Does NASA's James Hansen Still Matter in Climate Debate?
July, 2009 - Elbegdorj Sworn in as President, Make First Appointments
June, 2009 By Dale Choi, Mongolian Financial Markets Summary, Frontier Securities - Could Cap and Trade Cause Another Market Meltdown?
June, 2009 By Rachel Morris, Mother Jones - Tax-break repeal seen costing jobs
June, 2009 By Sean Lengell, Washington Times - Carbon-Based_Tax_Rates.pdf
May, 2009 By Mark Carter, Arkansas Business - Time to Face the Facts: The Economy Probably Won't Get Better For Quite a While
April, 2009 By Rob Shpiro, Huffington Post - GOP Economic Policy as an Exercise in Grief Management
March, 2009 By Rob Shpiro, Huffington Post - Geithner’s big week with Congress, bank plan
March, 2009 By Mark Trumball, Christian Science Monitor - Between a Rock and a Hard Place
March, 2009 By Thomas B. Edsell, Huffington Post - GOP Economic Policy as an Exercise in Grief Management: Denial, Anger and Rush Limbaugh
March, 2009 By Rob Shapiro, Huffington Post - Offsets Key To Devising Climate Package
March, 2009 By Darren Goode, Congress Daily - Ways and Means to wade back into emissions debate
February, 2009 By Darren Samuelsohn, E&E senior reporter - Trade-induced recession possible without protectionism
February, 2009 By Jonathan Lynn, Reuters - Will The Stimulus Kick-Start A New Economy?
February, 2009 By San Stein, The Huffington Post - Obama moves forward with plans to cut emissions
January, 2009 By Jim Tankersley, The Tribune Company - Coalition Agrees on Emissions Cuts
January, 2009 By Steve Mufson, Washingtonpost.com - Exxon Chief Embraces Carbon Tax
January, 2009 By Steve Mufson, Washingtonpost.com - Clouds Darken Over the Smokestack Sector
January, 2009 By Lauren Tara LaCapra, TheStreet.com - Only Obama can Rehabilitate Trade
January, 2009 By Jonathan Rausch, The National Journal Magazine - Backlogs shrinking at the Major EOMs
January, 2009 By Kirby J. Harrison, Aircraft - Policy at Bernie's -- Will carbon cap-and-trade be the next Ponzi scheme?
January, 2009 Posted by Charles Komanoff, Gristmill - Congress Targets Philanthropy
December, 2008 Wall Street Journal - Economy in turmoil and bailout plans
adrift
December, 2008 By Carolyn Lochhead, San Fransisco Chronicle - Editorial: Let foundations go forth,
multiply and prosper
December, 2008 Dallas Morning News - Bondholders to Hillary: Collect on Argentina
December, 2008 By Silvina Kristal - U.S. Bonholders Want Obama to Pressure Country
December, 2008 By Hugo Alconada Mon, DyN News - Clinton Aides Comfortable with Bill
November, 2008 By Sam Stein, Huffington Post - Podesta Non-Profit Takes Center Stage
November, 2008 By Daniel Libit, Politico - A Stimulus for the Long Run
November, 2008 By Dr. Robert Shapiro, Chair of NDN's Globalization Initiative, and Simon Rosenberg, NDN President - For Obama, the economy can't wait
November, 2008 By Mark Trumbull, The Christian Science Monitor - Financial crisis complicates Obama transition
November, 2008 By Tom Raum, Associated Press - U.S. Is Said to Be Urging New Mergers in Banking
October, 2008 By Anthony Wood, The Philadelphia Inquirer - U.S. faces $20 billion flood-insurance debt
October, 2008 By Anthony Wood, The Philadelphia Inquirer - NDN to Congress: "Keep People in Their Homes"
October, 2008 By Dr. Robert Shapiro, Chair of NDN's Globalization Initiative, and Simon Rosenberg, NDN President - US works to launch financial bailout, even as concerns contribute to global sell-off
October, 2008 By TOM RAUM and JEANNINE AVERSA, Associated Press Writers - OH FINANCIAL CRISIS, YOU ARE SO DEPRESSING
October, 2008 By by Tim Fernholz for Tapped - US has dwindling number of tools in econ crisis
October, 2008 By TOM RAUM, Associated Press - Soros floats alternative bailout plan with Dems
September, 2008 By Alexander Bolton for The Hill - Some bailout critics proposing other ways to go
September, 2008 By TOM RAUM, Associated Press - Paulson's Conflicts of Interest Spark Concerns
September, 2008 By Sam Stein, Huffington Post - Will Bush Become the New Hoover?
September, 2008 By Jeanne Cummings for Politico - The Next Globalization
The biggest challenge of globalization isn't trade. It's reining in health care and energy costs—and preparing American workers and business to compete.
September, 2008 - Politicians Should Look Abroad for the Source of Our Energy Woes
September, 2008 - Gustav, threat of other storms could stir lawmakers
September, 2008 - Press Release on The Economic Effects of Proposals for Federal Natural Catastrophe Reinsurance and New Loan Programs: Who Pays and Who Benefits?
August, 2008 - Executive Summary - Report on The Economic Effects of Proposals for Federal Natural Catastrophe Reinsurance and New Loan Programs: Who Pays and Who Benefits?
August, 2008 - REGULATIONS: Group says carbon tax may be politically viable with a rebate
June, 2008 By Lisa Haidostian and Saqib Rahim for the Climate Wire - Hard Times for Argentina:
Latin America's most vulnerable economy faces restive farmers, skyrocketing inflation, and mounting debt. And it still needs to strike a deal with creditors it disappointed in 2001
January, 2008 By Charles Newberryin Business Week - Private equity ownership increases jobs
January, 2008 By James Politi in New York Financial Times - Private equity transactions led to more jobs
January, 2008 By Neil Adler in Washington Business Journal - Private Equity Council Says PE Is a Jobs-Creating Machine
January, 2008 Posted by Deal Journal in Private Equity, Private-Equity Backlash on WSJ Online