By Will Portman Critics of a balanced budget amendment (BBA), such as the Center on Budget and Policy Priorities (CBPP), argue that a BBA would “mandate perverse actions in the face of recessions” and thus “aggravate recessions.” And they’ve got a point — at least about a BBA that would mandate that the budget be balanced … Continue reading
Category Archives: Economy
Buffett Rule: #FAIL
“So we have a consensus. Nobody likes the Buffett Rule,” said Howard Gleckman, resident fellow at the Urban-Brookings Tax Policy Center and moderator of a forum today on whether the rich should pay higher taxes. The event’s expert panelists may not have agreed on what our tax code should look like, but they did agree … Continue reading
Economic Daily Outlook
THURSDAY, APRIL 12, 2012 ECONOMICS: Treasury Faulted in Effort to Relieve Homeowners http://www.nytimes.com/2012/04/12/business/economy/treasury-department-faulted-in-effort-to-relieve-homeowners.html A fund to support homeowners in the communities hit hardest by the collapse of the housing bubble has disbursed just 3 percent of its budget and aided only 30,640 homeowners in the two years since its creation, according to a report … Continue reading
Economic Daily Outlook
WEDNESDAY, APRIL 11, 2012 ECONOMICS: Obama Goes on Offensive Over Taxes on Wealthy http://www.nytimes.com/2012/04/11/us/politics/obama-to-make-case-for-buffett-rule.html All but certain now that his Republican opponent will be Mitt Romney, President Obama has made his proposed “Buffett Rule” minimum tax for the wealthiest Americans like Mr. Romney a centerpiece of his re-election campaign, defying the political risk of … Continue reading
DeMarco Hints at Principal Reduction Decision
The director of the Federal Housing Finance Agency (FHFA) announced today that with additional incentives, funded through TARP, a program of principal forgiveness through Fannie Mae and Freddie Mac, the Government-Sponsored Enterprises (GSE), might now make more sense. While making no official announcement, FHFA Director Edward DeMarco said that the additional funds would make such … Continue reading
Economic Daily Outlook
TUESDAY, ARPIL 10, 2012 ECONOMICS: White House highlights tax fairness ahead of Obama speech http://www.reuters.com/article/2012/04/10/us-usa-campaign-obama-buffett-idUSBRE8390CZ20120410 Taxes for America’s highest earners have fallen sharply since 1995, according to a White House report on Tuesday, released ahead of a speech by President Barack Obama on fairness in the tax code that is a key part of … Continue reading
Economic Daily Outlook
MONDAY, APRIL 9, 2012 ECONOMICS: Federal Funds to Train the Jobless Are Drying Up http://www.nytimes.com/2012/04/09/business/economy/federal-funds-to-train-jobless-are-drying-up.html With the economy slowly reviving, an executive from Atlas Van Lines recently visited Louisville, Ky., with good news: the company wanted to hire more than 100 truck drivers ahead of the summer moving season. But a usually reliable source … Continue reading
BLS Reports Slower Job Growth Last Month
Payroll employment rose by 120,000 jobs in March with the unemployment rate falling slightly to 8.2 percent, according to the report released today by the Bureau of Labor Statistics. Growth is always good news, but a look behind the numbers shows that this kind of growth is mediocre at best. Despite the slight increase in … Continue reading
Damaging Effects of Denying Expansion
The Keystone XL pipeline could have provided Americans more economic, energy, and job security. However, in January 2012, President Obama announced he would not permit TransCanada to build a $7 billion pipeline from Alberta, Canada across international borders to the US Gulf Coast. Since then, Canada’s Prime Minister, Stephen Harper, has turned to China to … Continue reading
Weekly Graphic: Government Spending – 40 Year Comparison
Data from CBO 2012. All numbers are in FY 2005 dollars adjusted for inflation. © Joseph Chrisman Continue reading
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