What Would We Need for Persistent 5% Growth?
Last week, I argued that Governor Tim Pawlenty’s aspiration for 5% economic growth over a full decade, is implausible since the United States has achieved such steady growth only once since World War...
View ArticleJob-Killing Spending Cuts
There has been a lot of talk in Washington recently about “job-killing tax increases.” Raising taxes, the argument goes, would lead businesses to hire fewer workers and stifle our already weak economic...
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The Do-Nothing Fiscal Fix: Recipe for Recession
Given Washington’s endless partisan nastiness—and thanks to some updated estimates by the Congressional Budget Office–it seems like a good time to revisit an old idea: What would happen if Congress and...
View ArticleObama Had It Right the First Time: Bring Back the Making Work Pay Tax Credit
Last December, Congress replaced the two-year-old Making Work Pay tax credit (MWP) with this year’s payroll tax cut. That change cut taxes for higher-income workers, raised taxes for some low-wage...
View ArticleWhy Higher Taxes Will Have to be Part of the Medium- and Long-Term Fiscal...
If we are going to reduce the medium- and long-deficit, new tax revenues must be part of the solution. And those taxes must be progressive and as conducive to economic growth as possible. Historical...
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Has Government Gotten Bigger or Smaller? Yes.
Politicians and pundits constantly debate the size of government. Is it big or small? Growing or shrinking? You might hope these simple questions have simple answers. But they don’t. Measuring...
View ArticleA Disappointing Presidential Campaign Comes to an End
With the U.S. facing huge domestic policy challenges, one might have hoped for a serious debate on fiscal issues between Barack Obama and Mitt Romney. One would have been deeply disappointed. Rather...
View ArticleWhat You Should Know About the Budget Outlook
The Congressional Budget Office released its latest Budget and Economic Outlook earlier this week. As always, the Outlook provides insight into the fiscal status of the federal government. My three...
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