Recapping my analyses of his budgetary and macroeconomic views, including supply side, interest and inflation rates, and command of economic history.
Category Archives: budget
The fiscal cliff and rationality
What should happen, what could happen, and what will happen?
Links for 2011-11-15
Quick summaries of a few items of interest.
Recommendations for economic policy
An exchange I had last week with Econbrowser reader (and world-renowned scholar) Simon van Norden may be of interest to broader readers, so I lift it here from the comments:
Tax Expenditures
Losing your AAA
On Friday, Standard & Poor’s, one of the three main credit rating agencies, downgraded U.S. Treasury debt from AAA to AA+, citing doubts about the effectiveness, stability, and predictability of American policymaking and political institutions in being able to deal with the rising debt burden by the middle of the decade. It’s been a wild ride for equity and commodity markets ever since.
More on the debt ceiling aftermath
Here are interviews I did earlier this week on the debt deal:
Assessing the damage
We finally get our debt-ceiling deal, only to watch the S&P500 fall 3.7% from Thursday’s close. What gives?
Income Share by Top Fractile (continued)
Or, why it was so important to keep top marginal income tax rates constant for millionaires.
Figure 1 depicts the income shares accruing to the top 0.5 percent and top 0.1 percent of households (including realized capital gains). It is clear that their shares have declined going from 2007 to 2008; for the top 0.1%, their share has declined from 12.3% to 10.4% of total income.
Ending the debt ceiling stand-off
Here’s how I’m hoping this might work out.