I continue to believe that this grand Keynesian experiment will end in tears. Furthermore, when it ends badly, future generations will not be able to believe our stupidity.
It is striking to note that if even as little as one-third of the recent slowdown persists, then, by 2023, national health expenditures would be $1,200 per person lower than if cost growth returned to the prior trend.
Are you worried about the government running deficits in the hundreds of billions of dollars and a debt in the trillions? If so, then you should be really angry at people calling for the Federal Reserve Board to raise interest rates.
State and local governments as a whole have kept spending growth in line with revenues growth and so have contained the flow of red ink. This is good news, even with all the caveats. There are, however, longer-term concerns.
How can success be disaster, even in health care? As the Michael W. Smith song says, "Let me show you the way."
Ironically, Speaker Boehner resorted to the American justice system to sue President Obama, the very system he has worked relentlessly to underfund for indigents. Instead of suing Obama, he should start fixing the system he and his colleagues broke.
The public should recognize that the battle over the course of Fed policy is hugely important to the well-being of tens of millions of families. It should also recognize that the folks willing to deny these people jobs and wage increases will not feel constrained by the truth in pushing their agenda.
Last week we got another opportunity to see the thinking of the very rich when Jeffrey Immelt, the CEO of General Electric, complained at a summit with African heads of state and business leaders that there is even an argument over the reauthorization of Export-Import Bank.
Problem: Your right-wing brother-in-law is plugged into the FOX-Limbaugh lie machine, and keeps sending you emails about "Obama spending" and "Obama deficits" and how the "stimulus" just made things worse. Solution: Here are three "reality-based" charts to send to him.
Please refrain from stealing any office supplies when you leave. First of all those things are the property of the American taxpayer and secondly the baboons we replace you with might actually need them.
America's federal budget deficits have actually shrunk by nearly $5 trillion since 2010. The CBO's projection for the budget deficit this year is smaller than it's been on average over the past 40 years. In short, the economic evidence is clear: This deficit is no longer an urgent issue. But there are, in fact, deficits that demand immediate attention.
Gene Steuerle is not a standard right-winger who believes that a dollar in the pocket of a middle class or poor person is a dollar that could be in the pockets of the rich. He is a serious budget analyst who has does important work on tax and budget issues for more than three decades.
If GDP growth is that dependent on workforce growth, and 1990s growth repeats itself -- which was the longest uninterrupted economic expansion in our history that also gave us four years of budget surpluses -- then we may see the next generation about to take charge. They could turn out to be much more industrious than we know!
The Paul Ryans of America have lost the bet fair and square. The tax cuts experiment has had plenty of time to show results, but the only people whose economic situations have improved since the Bush tax cuts are the wealthiest 1 percent of society.
The Congressional Budget Office's new long-term budget projections, released today, are very similar to those that CBO published in September 2013 and to ones that we released in May 2014. They show that the nation's fiscal outlook is stable for the rest of this decade and then worsens gradually.
This ad will likely be followed by other companies' ads -- all competing freely in a marketplace for customers -- which means it does represent a historic turning point.