Global Investors Are Telling Donald Trump His Deficits and National…
Washington is unnerved these days about budget deficits and the national debt. Deficit angst comes along periodically, often as a pretext for cutting social spending. This time, however, there’s genuine cause for alarm. Outsized deficits are par for the course when the economy is in recession or reeling from a shock like the pandemic or the financial collapse; most of… Continue reading
Modest Progress on the Deficit Is Just What the U.S.…
One argument nearly entirely absent in the debate over the fiscal cliff issues is the effect on the economy. True, some diehard conservatives warn that without drastic steps to privatize part of Social Security and much of Medicare, our national debt will soon make us pariahs in global capital markets, on the Greek model. But there was never any economic…Continue reading
The Real Economics of the Fiscal Cliff
Thank goodness for the fiscal cliff. Without it, most of Washington would be home for the holidays, happy to put off the unpleasantness of raising taxes and cutting spending. But the truth is, the only part of the cliff that really matters right now is the Bush tax cuts. Yes, much has been made about triggering large, across-the-board cuts in…Continue reading
The Real Economics of the Fiscal Cliff
Thank goodness for the fiscal cliff. Without it, most of Washington would be home for the holidays, happy to put off the unpleasantness of raising taxes and cutting spending. But the truth is, the only part of the cliff that really matters right now is the Bush tax cuts. Yes, much has been made about triggering large, across-the-board cuts in…Continue reading
The Real Economics of the Fiscal Cliff
Thank goodness for the fiscal cliff. Without it, most of Washington would be home for the holidays, happy to put off the unpleasantness of raising taxes and cutting spending. But the truth is, the only part of the cliff that really matters right now is the Bush tax cuts. Yes, much has been made about triggering large, across-the-board cuts in…Continue reading
The Real Economics of the Fiscal Cliff
Thank goodness for the fiscal cliff. Without it, most of Washington would be home for the holidays, happy to put off the unpleasantness of raising taxes and cutting spending. But the truth is, the only part of the cliff that really matters right now is the Bush tax cuts. Yes, much has been made about triggering large, across-the-board cuts in…Continue reading
Some Thoughts on the Fiscal Cliff
The fiscal cliff is more of a cascade ?¢‚Ǩ‚Äù or a game of dominoes. First, they have to make a deal on the terms on which the Bush tax cuts will be renewed. That appears to be fairly likely, since GOP leaders seem to have conceded that additional revenues are inevitable. So, the deal to be struck is how precisely…Continue reading
Some Thoughts on the Fiscal Cliff
The fiscal cliff is more of a cascade ?¢‚Ǩ‚Äù or a game of dominoes. First, they have to make a deal on the terms on which the Bush tax cuts will be renewed. That appears to be fairly likely, since GOP leaders seem to have conceded that additional revenues are inevitable. So, the deal to be struck is how precisely…Continue reading
Some Thoughts on the Fiscal Cliff
The fiscal cliff is more of a cascade ?¢‚Ǩ‚Äù or a game of dominoes. First, they have to make a deal on the terms on which the Bush tax cuts will be renewed. That appears to be fairly likely, since GOP leaders seem to have conceded that additional revenues are inevitable. So, the deal to be struck is how precisely…Continue reading