Fiscal Policy

Tuesday, July 19th, 2011
An open letter to a Washington Post columnist. Dear Mr. Klein,
Thursday, July 14th, 2011
Italy's senate approved today a plan to cut government spending for the period 2011-2014. Italy's public debt is more than 100% of GDP and the fiscal deficit was between 3% to 5.9% of GDP for last year.
Tuesday, May 31st, 2011
"As the House Budget Committee worked on a Republican plan to cut more than $6 trillion of government spending over a decade, the panel’s senior Democrat proposed a symbolic amendment saying national security costs should be included in any responsible deficit-reduction effort.
Monday, May 23rd, 2011
Roberts and Papola have done it again: a rap video that explains the divergent views of two of the most prominent economists of the 20th century. It’s  better than most textbooks, and entertaining to boot.
Tuesday, May 17th, 2011
"Practically speaking,a ceiling that is raised automatically is no ceiling at all. Given that, why not dispense with the pretense? The reason is politics.
Monday, May 16th, 2011
"The US economy is headed for a period of higher inflation and lower growth that makes the nation's debt unappealing when measured against its global competitors, Pimco's Bill Gross told CNBC.
Thursday, May 12th, 2011
"Bernanke continues to dismiss inflation as a big U.S. economic concern, and the Fed decided last week to keep interest rates between 0.00% and 0.25% "for an extended period." But U.S.
Thursday, May 5th, 2011
"F.A. Hayek said that his biggest regret in a lifetime of writing was that he never wrote a book-length refutation of Keynesian economics. He seriously doubted that Keynesian style planning would ever captivate governments, so he focused on different things.
Thursday, May 5th, 2011
"Economists have long disagreed seriously about the costs and benefits of government budget deficits and debt. Following the Second World War, a clash between Keynesian and―orthodox fiscal policy views arose.
Wednesday, May 4th, 2011
"First, the question is not whether the Federal Reserve should raise its target inflation rate above 2% per year. The question is whether the Federal Reserve should raise its target inflation rate to 2% per year.
Monday, May 2nd, 2011
"It might help getting our minds around what is so wrong in America today by thinking about the local police force. It’s not hard to understand that the job of the police is to protect lives and property. Suppose we decided to broaden their mandate.
Wednesday, April 27th, 2011
"Republicans and Democrats on Capitol Hill are strategizing for what is expected to be a bruising debate on raising the nation’s debt limit and reining in government spending.
Tuesday, April 26th, 2011
"The conventional wisdom in Washington — on the left and among many on the right — is that the debt ceiling must be raised in order to avoid defaulting on the national debt, a potentially catastrophic scenario, the thought of which has business and financial leaders lobbying hard to raise the ceilin
Tuesday, April 26th, 2011
"No man in America is a match for House Budget Committee Chairman Paul Ryan on the federal budget. No congressman in my lifetime has been more determined to cut government spending. No one is better informed for the task he has set himself.
Monday, April 25th, 2011
Rejecting any serious cuts to government spending, President Obama stated recently, "Nothing is easier than solving a problem on the backs of people who are poor, for people who are powerless and don't have lobbyists or don't have clout."
Thursday, April 21st, 2011
"A transparent budget proposal—such as the Administration’s first 2012 Budget presented by President Obama on February 14 or the House Budget presented by Paul Ryan on April 6—contains year-by-year tables showing the proposed path for government outlays over time.
Wednesday, April 20th, 2011
"Why did politicians cut a trivial amount of money in the recent budget agreement? Prof. Ben Powell explains why politicians don't cut spending, as a general rule.
Tuesday, April 19th, 2011
For the past few months I have been really disturbed about this nation’s fiscal challenges. With a $14 trillion structural deficit, and a $1.6 trillion deficit for this fiscal year alone, I think people should be concerned—I mean really concerned.
Thursday, April 7th, 2011
"As to where the money is coming from, Humphrey announced, "We can pay for it out of a growing, expanding economy. And it is actuarially sound." It is depressing to record that three days later, on Sept.
Thursday, April 7th, 2011
The Greenspan-Bernanke explanation on the cause of the financial bubble rests on the theory of the saving glut.

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