From CNN, “McConnell says GOP will not vote to raise debt ceiling, setting up clash in Congress”:
Category Archives: budget
Debt Dynamics, and the Real Interest Rate
Debt-to-GDP dynamics are described by this expression.
Real Borrowing Costs for the US Treasury: May 2021
As of May 2021, the nominal 10 year Treasury rate is 1.6%. The real rate is -0.9%.
Guest Contribution: “Republicans oppose deficits only when Democrats hold the White House”
Today, we present a guest post written by Jeffrey Frankel, Harpel Professor at Harvard’s Kennedy School of Government, and formerly a member of the White House Council of Economic Advisers. A shorter version appeared at Project Syndicate.
“Will Joe Biden’s fiscal stimulus overheat the American economy?”
That’s the title of a new article in the Economist:
There are three main reasons to suspect overheating might be on the cards: emerging evidence that the downturn may prove temporary; generous stimulus; and the Federal Reserve’s monetary-policy strategy.
Spreads and Risk over the Past Week (and Months)
I’ve been amazed at how little the last week’s political turmoil has shown up in financial markets. The only thing that seems to have moved anything is the apparent control of the Senate moving to the Democrats.
The Current Administration’s Current Official Economic Forecast
Illustrated (red squares):
Macroeconomic Policy, Midterm 2 (Nov 18) – Revisiting the Tax Cut & Jobs Act
How would you answer Question 2?
Guest Contribution: “The Fiscal Effects of the Covid-19 Pandemic on Cities: An Initial Assessment”
Today we are fortunate to present a contribution written by Andrew Reschovsky, Professor Emeritus of Public Affairs and Applied Economics at the University of Wisconsin-Madison.
Open Letter to Lawmakers: “On Recovery Policy”
From Scholars Strategy Network, an open letter:
Economists’ Letter on Recovery Policy
Dear National Lawmakers,As you consider a new package of aid to support the nation during the ongoing COVID-19 pandemic, now is an appropriate time for the federal government to consider economic research carefully in order to provide well-targeted, significant relief to state governments and to individuals experiencing economic hardship. Support for state budgets, and for safety net programs, most notably funding for the Supplemental Nutrition Assistance Program (SNAP) and for Unemployment Insurance, are wise ways to do this.