Author Archives: John Taylor
So Much For People To Learn About Medicare Reform
There is so much more for people to learn about the various Medicare proposals out there. Many people I talked to were surprised to learn that both the Ryan and the Obama Medicare proposals reduce the growth of federal outlays … Continue reading
Posted in Regulatory Policy
Comments Off on So Much For People To Learn About Medicare Reform
No Near-Consensus Among Economists for Another Stimulus Package
Sunday’s Weekend Edition on NPR gave listeners a chance to hear different economic views on how to reduce the high unemployment rate. Joe Stiglitz represented the view that we need another deficit-financed stimulus package with more spending now and tax increases later. … Continue reading
Posted in Stimulus Impact
Comments Off on No Near-Consensus Among Economists for Another Stimulus Package
When Economic Principles Were Ignored
In televised speech on Sunday evening August 15, 1971, Richard Nixon shocked the world with these words: “I am today ordering a freeze on all wages and prices throughout the United States for a period of 90 days,” (see video) … Continue reading
Posted in Regulatory Policy
Comments Off on When Economic Principles Were Ignored
Regulatory Capture across the Hudson
The book Reckless Endangerment by Gretchen Morgenson and Joshua Rosner is filled with examples of regulatory capture which the authors uncovered in their investigative reporting of the financial world. Here is my review in the Washington Post. Many of the examples … Continue reading
Posted in Regulatory Policy
Comments Off on Regulatory Capture across the Hudson
More on the S&P Downgrade
Two years age in an article in the Financial Times I wrote that “Standard and Poor’s decision to downgrade… should be a wake-up call for the US Congress and administration.” At that time I was not, of course, referring to … Continue reading
Posted in Budget & Debt
Comments Off on More on the S&P Downgrade
Treasury Versus S&P on the Downgrade: It’s Not a Math Error
The White House and the Treasury are accusing Standard and Poor’s of making an elementary arithmetic mistake in the recent downgrade decision. Treasury’s John Bellows writes about what he calls a “$2 trillion mistake” saying that “After Treasury pointed out … Continue reading
Posted in Budget & Debt
Comments Off on Treasury Versus S&P on the Downgrade: It’s Not a Math Error
Debating History and Policy with Reich and Krugman
Tonight’s NewsHour debate between me and Robert Reich was about the role of Keynesian fiscal policy in the context of the today’s budget agreement. Reich was not supportive of the agreement because it precluded another stimulus package which, in his … Continue reading
Posted in Fiscal Policy and Reforms
Comments Off on Debating History and Policy with Reich and Krugman
Why Much Was Accomplished in the Debt/Budget Negotiations
Many are still debating how much was accomplished in the debt/budget agreement approved by the House today with the Senate to vote and the president to sign tomorrow. In my view, much was accomplished, and credit goes to all those … Continue reading
Posted in Budget & Debt
Comments Off on Why Much Was Accomplished in the Debt/Budget Negotiations
Charting the Disappointing Economic News
The sad economic story in this morning’s GDP release can best be told with three simple charts. First, economic growth in this recovery has been even slower than previously thought, and has averaged less than 1 percent so far this year. This is … Continue reading
Posted in Slow Recovery
Comments Off on Charting the Disappointing Economic News
The Boehner and Reid Budget Plans Compared
Today the CBO released its updated score of the Boehner budget proposal and the Reid budget proposal. So we can now do an apples-to-apples comparison of the year-by-year numbers in the two plans, and thereby get a better understanding of … Continue reading
Posted in Budget & Debt
Comments Off on The Boehner and Reid Budget Plans Compared
Economics One 