Last night, the Obama campaign blasted out another email claiming that Mitt Romney’s tax plan would either require raising taxes on the middle class or blowing a hole in the deficit. “Even the studies that Romney has cited to claim his plan adds up still show he would need to raise middle-class taxes,” said the Obama campaign press release. “In fact, Harvard economist Martin Feldstein and Princeton economist Harvey Rosen [...]
Martin Feldstein, former chief economic adviser to Ronald Reagan, says the most important cloud on the economic recovery horizon is the large tax increase that will occur next year unless legislation is passed to block it.
“The Congressional Budget Office predicts that, under current law, the revenue of the federal government will rise from $2.4 trillion in the current fiscal year, which ends in September, to $2.9 trillion in the [...]
Treasury Secretary Timothy Geithner is interviewed by ABC News’ David Muir. (ABC News)
Treasury Secretary Timothy Geithner didn’t dispute a Harvard economist’s estimate that each job in the White House’s jobs plan would cost $200,000, but said the pricetag is the wrong way to measure the bill’s worth.
And he also pointed out, in an interview today with ABC News’ David Muir, that there is no [...]
This is a VERY long article covdering all nine studies. Here is the link.
The final conclusion of the article: ” I’m Inclined to believe that the preponderance of evidence
indicates the stimulus worked.
Did the stimulus work? A review of the nine best studies on the subject
By Dylan Matthews
If you ask the Obama administration, economists are virtually united in thinking the 2009 stimulus package worked. “I’m absolutely convinced, and the [...]
From Scott Minerd’s FT OpEd:
There will be more monetary elixir after the end of QE2
In 1958, Harvard economist John Kenneth Galbraith was looking for a term to describe certain ideas that were commonly held, intellectually accessible and yet fundamentally flawed. To define such widely spread misconceptions he wrote: “I shall refer to these ideas henceforth as the conventional wisdom.”
As an asset manager, I’ve come to [...]
Ireland’s government was not in trouble. It did not have the overspending and long-term-debt problems that Greece did. Ireland’s fiscal balance was fine except for the need to take control of the failed private banks. So the IMF has taken on a new role, as a guarantor of private banking and private-sector stability, that is far removed from the visions of 1944.
Our best hope is [...]