Tag: ‘fiscal policy’

Forgotten but Not Gone: The Long-Term Fiscal Imbalance

By :: March 7th, 2014

Over the past few years, the long-term fiscal situation has improved. With the passage of the American Taxpayer Relief Act of 2012 (in early January, 2013), the Budget Control Act of 2011, the subsequent imposition of sequestration, and slowdowns in projections of health care expenditures, there have been a variety of sources of improvement. In […]

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Latest House Debt Limit Plan Will Accomplish Nothing

By :: October 10th, 2013

Washington may be about to do what it does best–kick the can down the road. House Republicans have tentatively agreed on a plan to extend the debt limit for about six weeks while keeping the government partially shuttered. Their idea: use the shutdown as a stick to get Democrats to negotiate over “pressing problems,” including more […]

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Sequester, We Hardly Knew Ye

By :: March 1st, 2013

I suspect that by early next week, the sequester will be old news. We’ll be on to the next crisis—the impending government shutdown scheduled for just a month from now. And there may be good reason for that—any deal to avoid the shutdown will almost surely replace the effects of the sequester, at least for […]

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Five Key Facts about the House Debt Limit Bill

By :: January 22nd, 2013

On Wednesday, the House will vote on a bill to delay the upcoming debt limit showdown. The bill includes no spending cuts, no tax increases, and no platinum coins of unusual size. Instead, it will “suspend” the debt limit through May 18 to give lawmakers time to pass a budget in each chamber. To give […]

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Is the Trillion-Dollar Platinum Coin Clever or Insane?

By :: January 8th, 2013

Policy wonks are debating whether a trillion-dollar platinum coin would be a clever or insane way for President Obama to play hardball with Republicans in the upcoming debt limit battle. Here’s what you should know about this crazy-sounding idea: 1.     A legal loophole gives the Treasury Secretary apparently unlimited authority to mint platinum coins. Treasury […]

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How to Control Entitlements: A Challenge Ike Did Not Face

By :: December 18th, 2012

Yesterday, I described President Eisenhower’s remarkable success in turning  a large deficit in fiscal 1959 into a balanced budget in 1960.  It was one of the biggest fiscal consolidations since World War II.  Although it was a very different time, there are lessons relevant to today’s fiscal challenges.  One is that a president need not […]

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What Was Missing from Obama’s Convention

By :: September 7th, 2012

We now know more about Joe and Jill Biden’s dating history than we do about what Biden and Barack Obama would do in a second term. I understand the desire to turn politics into just another episode of the Bachelorette. But this seems a sad mix of TMI on one hand, and too many platitudes on […]

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