iOS app Android app

Jared Bernstein
GET UPDATES FROM Jared Bernstein
 
Jared Bernstein is a Senior Fellow at the Center on Budget and Policy Priorities, former economist for the Obama administration, and a CNBC and MSNBC contributor.

Entries by Jared Bernstein

Tax Fairness: What Do People Think About It?

(5) Comments | Posted April 15, 2014 | 1:59 PM

I've been thinking about tax fairness in recent days, and was thus interested to peruse the Gallup results of the question. Nothing too surprising -- those who pay more in federal taxes think they're too high; almost nobody thinks their tax bill is too low. Stop the presses!

...
Read Post

The Congressional Progressive Caucus Budget: A Vision for Our Time

(214) Comments | Posted April 10, 2014 | 8:56 AM

To open our full employment event last week, Larry Summers presented an extremely compelling case for the importance of using fiscal policy to close our persistent output gaps, lower unemployment, and repair some of the economic damage resulting from "austerity," i.e., reducing budget deficits in weak economies.

At...

Read Post

Minimum Wages and Women's Wage Inequality: They're Intimately Related

(1) Comments | Posted April 9, 2014 | 5:05 PM

I think this is a pretty remarkable picture that hasn't gotten enough attention, perhaps because it's a touch complex. It shows the relationship between wage inequality among women workers and the minimum wage, and the fit is very tight.

The blue line shows the gap in pay between middle- and...

Read Post

Budget Linguistics

(45) Comments | Posted April 8, 2014 | 1:53 PM

A few months ago I was in a restaurant and noticed a mistake on the check. "I'm sorry," the waiter said, suggesting there was nothing he could do about the overcharge. "That's how it's in the computer."

I was recently reminded of that incident when I testified at a budget...

Read Post

Jobs Report: First Impression

(2) Comments | Posted April 4, 2014 | 2:06 PM

A broadly positive jobs report just out for March shows that payrolls were up by 192,000 and both the labor force and weekly hours worked grew as well. The jobless rate was unchanged at 6.7 percent, but the closely watched labor force participation rate popped up two-tenths to 63.2 percent,...

Read Post

The President, the Pen, the Phone, and the States

(1) Comments | Posted April 3, 2014 | 10:58 AM

I'm often asked what President Obama can really accomplish on the economy with just "the pen and the phone," i.e., what can he do without Congress. It's a tough question, because moving the needle on unemployment or implementing economic policies that reach lots of people requires Congressional cooperation, of which...

Read Post

A Football Slamdunk

(2) Comments | Posted March 28, 2014 | 10:34 AM

Not to mix metaphors, but as I read it, that National Labor Relations Board ruling that footballers at Northwestern are actually employees of the university and thus can form a union looks like a slamdunk.

You've got capital and labor. The university owns the franchise, produces football, and captures hundreds...

Read Post

The Paradoxical Position of the National Restaurant Association in the Minimum Wage Debate

(29) Comments | Posted March 16, 2014 | 9:26 PM

In recent weeks, supporters and opponents of the proposal to raise the federal minimum wage to $10.10 have circulated letters to further their cause. I was one of the 600 signers of the supporters' letter, organized and posted by the Economic Policy Institute on their website.

...
Read Post

Jobs Report, First Impressions: Payrolls Rise but so Does Long-Term Unemployment

(30) Comments | Posted March 7, 2014 | 8:44 AM

The nation's payrolls grew by a greater-than-expected 175,000 last month, while the unemployment rate ticked up slightly to 6.7 percent, according to today's jobs report from the Bureau of Labor Statistics.

In a report that has both good and bad news for the American workforce, February payrolls appeared...

Read Post

What's Not DOA in the Obama Budget

(18) Comments | Posted March 5, 2014 | 7:38 AM

It's of course tempting to decry the president's budget as "dead on arrival" but I wouldn't be nearly so quick to go there. To dismiss its content because it's not going to become the nation's budget is painting with far too broad a stroke. Here are a number of ways...

Read Post

Rep. Ryan's New Poverty Report: A Fat Thumb on the Evidentiary Scale

(75) Comments | Posted March 3, 2014 | 9:31 PM

Paul Ryan and the majority Republican staff of the House Budget Committee are out with a big document that purports to provide a balanced evaluation of the full spate of federal anti-poverty programs. It's a detailed, serious look at the issue but is beset with misleading evidence and conclusions. While...

Read Post

Some Smart, Progressive Budgeting From the White House

(12) Comments | Posted February 20, 2014 | 4:17 PM

These troubled fiscal times are characterized by a few big problems:

-too much fiscal drag from misplaced emphasis on deficit reduction in what's still a weak recovery (with said weakness intimately related to said fiscal drag);

-cuts that are too deep in non-defense discretionary programs that invest in everything from...

Read Post

Can 'Smart Guns' Help?

(90) Comments | Posted February 19, 2014 | 8:13 AM

I don't like to stray too far from my econo-lane, but I've long wondered whether a "smart gun" could be developed that could help minimize mass shootings in public places. The idea would be to require chips in weapons that would essentially shut the firearm off in say, schools or...

Read Post

Fever Breaking? Clean Debt Ceiling Bill Passes House

(68) Comments | Posted February 12, 2014 | 7:42 AM

Speaker John Boehner brought a clean bill to increase the debt ceiling to the floor of the House tonight, and it passed with mostly Democrat votes.

From the New York Times:

The vote - 221-201 - relied primarily on Democrats to carry the legislation, the first debt...

Read Post

Jobs Report: First Impressions

(123) Comments | Posted February 7, 2014 | 8:42 AM

The nation's payrolls grew by 113,000 last month, once again dashing analysts' expectations for a stronger month of job growth and reinforcing the possibility of yet another slowdown in job creation.

A closely watched piece of this puzzle was the revision to December's surprisingly low payroll number -- originally 74,000....

Read Post

Recent Volatility in Stock and Emerging Markets: How Worrisome?

(2) Comments | Posted February 4, 2014 | 11:37 AM

So you're visiting some not-very-well-off friends and you think their not-very-stable house is on fire. So you run across the street to the solid house of a well-off friend. But you think you smell smoke there too, so you run out in the street, not knowing what to do with...

Read Post

7 Reasons Why You're Not Hearing So Much About the Budget Deficit These Days

(7) Comments | Posted January 31, 2014 | 4:34 PM

-First of all, because the damn thing has fallen so much (i.e., the deficit as a share of the economy). Here at CBPP, everybody's all "fiscal year this" and "FY that..." But given that we just yesterday got GDP for 2013, I'm all like walking around the halls saying,...

Read Post

Why We Need a Stronger Minimum Wage

(284) Comments | Posted January 29, 2014 | 12:36 PM

Our last post noted that support for expanding the Earned Income Tax Credit (EITC) for childless workers -- as President Obama recommended last night -- is growing on both sides of the aisle.  Policymakers also should help low-wage workers by strengthening the minimum wage.

Today's minimum wage is...

Read Post

SOTU 2014: First Impressions

(3) Comments | Posted January 28, 2014 | 9:50 PM

I'll have more to say in coming days but I liked the speech quite a bit. The challenge for the president was to avoid ticking through a list of ideas that had no chance of going anywhere. I think he largely avoided that, though he did hit on ideas that...

Read Post

Immigration and Poverty

(43) Comments | Posted January 23, 2014 | 7:20 AM

In recent posts, I've been examining some of the factors driving -- and not driving -- poverty in the U.S., focusing so far on growth, inequality, single parenthood, slack labor markets, and more. In this post, I wanted to say a bit about immigration.

Not unlike...

Read Post