In a New York Times op-ed today, Steven Rattner attempts a drill down into the first-quarter GDP report but misses the most obvious point: We have a tale of two economies. The public sector one isn’t doing so hot, the private-sector … read more
Liberal thinkers, Paul Krugman most notably, realize that advanced economies are unlikely to undertake the massive fiscal stimulus they favor. That war is probably lost. But with a major policy victory out of reach, they are taking some comfort in … read more
As I mentioned earlier today, AEI economist Kevin Hassett recently gave provocative congressional testimony offering some possible micro-suggestions to help the long-term unemployed: 1. Direct hiring into government jobs. The stigma of long term unemployment may be ameliorated by a short run … read more
I was momentarily taken aback when I read the following bit (in bold) from RDQ Economics: The private economy continues to expand at a solid pace as manufactured output growth averaged 5.2% over the last two quarters, and private-sector job … read more
Another big decline in US government spending took its toll on first-quarter output. But the way to accelerate GDP growth is by boosting the private economy, not re-inflating the public sector. The nation’s gross domestic product, adjusted for inflation, grew at an annualized … read more
A recent New York Times article entitled “Down Payment Rules Are at Heart of Mortgage Debate” reported that “lenders and consumer advocates — rarely on the same side of the issue — are now cautioning against down payment requirements.” Cited … read more
We are in the middle of an unemployment crisis, although you wouldn’t know it from today’s Joint Economic Committee (JEC) hearing. (National Journal pic: only one lawmaker attends today’s JEC hearing.) Nearly 40% of unemployed workers have been out of … read more
From the Financial Times: The OECD has warned Japan that taming its vast debts remains the country’s “paramount policy challenge”, as prime minister Shinzo Abe goes all out to reflate the sluggish economy via aggressive fiscal and monetary stimulus. Next year the OECD … read more
It’s sad that the case for economic growth needs to be made. But it seems that too many people have lost sight of why growth is good as they fret about issues such as the environment and inequality (both of … read more
America just gained an Argentina — or at least its economic equivalent. Starting in July, the US economy will officially become 3% bigger, or roughly $470 billion, as the government changes how it calculates GDP. The Bureau of Economic Analysis … read more
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