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.
America has always been made stronger -- economically, democratically, and as a world leader -- by welcoming new citizens and allowing them to lend us their talents, their energy, and their new ideas. That's how we succeeded in the 20th century -- and it is the recipe for success in the 21st century as well.
A balanced federal budget isn't a pipedream or some crazy economic theory that will never come to pass. Our home states of Ohio and Minnesota balance their budgets thanks to constitutional requirements, as does nearly every other state in the nation.
Every so often, in the world of legislation, California lives up to its own self-image of trendsetter. This is one of those times.
The 2004 tax holiday only made things worse because companies realized they could get out of paying taxes entirely if they moved profits offshore and held out until the next holiday season. If we do it again, every company will be compelled to move jobs, factories and profit centers out of the country to stay competitive.
Together, we must urge our elected officials to implement accrual accounting principles at the federal level so that our nation can finally have accountability based on accurate financial information.
With all due respect to Sen. McCain, I have a different take on this. I, too, am outraged by the lack of care that many of our veterans have received, but I'm not at all bewildered by it. In fact, I saw it coming for years.
It's great to look for savings that still preserve the quality of the service provided by SSA. But a route that will make it difficult for beneficiaries to talk to a human being doesn't fit the bill.
With important issues facing our nation, very little is getting done. And for our nation's children, stalemate in Congress precludes action on addressing a wide array of problems.
Even if a bank had never officially employed Geithner, his attitudes and concerns clearly reflect those of the financial industry. This comes through in matters big and small.
It took centuries to get people to understand the earth orbits the sun. If it takes as long to get the public to understand and our politicians to understand the economy, billions of people will suffer needlessly.
The House Ways and Means Committee voted this week to add $310 billion to the U.S. deficit by making permanent six tax credits for businesses. To put their fiscal irresponsibility into context, $310 billion represents half of the entire federal deficit this year -- which is the lowest it has been since President Obama took office.
Globalization and economic integration have created a new weapon and a new deterrent: the potential use of the marketplace against an aggressive nation state.