cboblog.cbo.gov - 6/26/2009
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Today CBO released the Long-Term Budget Outlook . Under current law, the federal budget is on an unsustainable path—meaning that federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds long-term fiscal projections, rising costs ...
econbrowser.com - 7/2/2009
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econbrowser.com —
As James Morley has pointed out, often a
sharp economic downturn is followed by an equally sharp...
economic recovery. One reason for that is the liquidation of inventories that accompanies any recession and restocking that takes place in recovery. What ...
(more)
A V-shaped recession?
voxeu.org - 7/3/2009
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voxeu.org —
Caroline Freund , 3 July 2009 The collapse
in trade has been unprecedentedly severe. This column examines...
potential explanations. While the global fragmentation of production has increased the responsiveness of trade flows to drops in demand, trade ...
(more)
Explaining the trade collapse
forbes.com - 7/3/2009
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forbes.com —
When asked about the federal government's long-term budget
problem, Barack Obama always responds that it is essentially...
a health issue. Unless we fix the health care system, he says, we cannot get control of the budget. This is the key reason why ...
(more)
Health Care: Costs And Reform
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CBO Sees Problems Brewing
The Bonddad Blog —
From the CBO: Today CBO released the Long-Term Budget Outlook. Under current law, the federal budget is on an unsustainable path—meaning that federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds long-term fiscal projections, rising costs for health care and the aging of the U.S. population will cause federal spending to increase rapidly under any plausible scenario. Unless tax revenues increase just as rapidly, the rise in spending will produce growing budget deficits and ...
CBO on the Fiscal Outlook: Doing Nothing Is Not an Option
EconomistMom.com —
... outlook. (I think I got distracted for a few days by the news about Michael Jackson–a different “sustainability” problem…) The basic shape and scope of the long-term fiscal challenge hasn’t changed since CBO’s last long-term report (a year and a half ago), and neither has the lesson for policymakers, as CBO director Doug Elmendorf explains on his blog (emphasis added): ...
CBO on Health Care: July 14th to 20th & MSM Distortions
Angry Bear —
... . And from the graphs included this seems to be mostly just another presentation of the LTBO released on June 25th and announced on the Director's Blog under the same title as that on the Senate testimony Long Term Budget Outlook. The rest of this post will be exploring what Director Elmendorf actually said here as compared to how it was reported. ...
He didn't walk it ALL the way back
SCSUScholars —
... will increase the deficit by $812 billion in 2009 and by $445 billion in 2010. (Without those costs, the cyclically adjusted deficit would be about 3.6 percent of potential GDP in 2009 and roughly 1.9 percent in 2010.)So when we get to 2011, even if the economy is at full employment, there would be a $350 billion deficit. And it then rises, looking at the long-term budget outlooks prepared by former CBO and current OMB director Peter Orszag and current director Doug Elmendorf. According to the latter: Under the extended-baseline scenario, ...
Related: cbo long-term outlook, cbo debt unsustainable
CBO Paints Dire Portrait of Long-Term Revenue, Spending
hf-implode.com 6/26/2009 — " The nation's long-term budget outlook has darkened considerably over the past six months, and President Obama's plan to extend an array of tax cuts and other policies adopted during the Bush administration has the potential to "create an explosive fiscal situation," congressional budget ...
More from CBO's 'Long Term Budget Outlook' —
Angry Bear
by Bruce Webb In a previous post I highlighted the chapter of CBO's Long-Term Budget Outlook that pertained to Social Security. But the Report goes beyond that and in fact focuses on two different possible scenarios outlined in the following Table: The shorthand way of defining 'extended ...
CBO: Long Term Budget Outlook —
Angry Bear
by Bruce Webb Congressional Budget Office Long Term Budget Outlook Discuss. (Social Security is chapter 3) (Update) Not a lot of meat here. CBO offers two outlooks for Social Security, one which projects a payroll gap of 1.33% (extended baseline) and another 1.54%. (alternative fiscal scenario). ...
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