cboblog.cbo.gov - 1/7/2009
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This morning CBO released the B udget and Economic Outlook: Fiscal Years 2009-2019 . This volume is one of a series of reports on the state of the budget and the economy that the Congressional Budget Office (CBO) issues each year. Because economic and budgetary circumstances have changed ...
becker-posner-blog.com - 1/12/2009
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becker-posner-blog.com —
If the government increased its spending on infrastructure
when the economy has full employment, its main impact...
would likely be to draw labor, capital, and raw materials away from various other activities. In effect, increased government spending ...
(more)
On the Obama Stimulus Plan-Becker
krugman.blogs.nytimes.com - 1/6/2009
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krugman.blogs.nytimes.com —
Bit by bit we're getting information on the
Obama stimulus plan, enough to start making back-of-the-envelope estimates...
of impact. The bottom line is this: we're probably looking at a plan that will shave less than 2 percentage points off the average ...
(more)
Stimulus arithmetic (wonkish but important)
econbrowser.com - 1/3/2009
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econbrowser.com —
In my previous post , I presented evidence
that the oil price increase over 2007:H2-2008:H1 made a...
significant contribution to the slowdown in consumption spending in general and decline in spending on domestic automobiles in particular. Here I ...
(more)
The oil shock and recession of 2008: Part 2
Comments
Blog Reactions
Borrowing is borrowing
SCSUScholars —
... puts the deficit at $1.2 trillion, or almost 9% of GDP. $180 billion of that deficit comes from TARP, netting out the present value of troubled assets that the government plans to recover. ...
Readings 01/08/09
Paul Kedrosky's Infectious Greed —
... El-Erian: Investors should hide under government wing (FT) China Is Losing Its Taste for U.S. Debt (NYT) China hasn’t (yet) lost its appetite for US Treasuries … (Setser) German bond auction fails to attract enough demand (Bloomberg) Monsanto's Profit Shoots Higher (WSJ) How is money created? (Bogleheads) CBO releases latest U.S. Budget and Economic Outlook (CBO) Largest one-month drop in c/card payments on record (Fitch Corporate) ...
CBO Releases Economic Projection
The Bonddad Blog —
From the CBO Blog: A marked contraction in the U.S. economy in calendar year 2009, with real (inflation-adjusted) gross domestic product (GDP) falling by 2.2 percent, a steep decline from a historical perspective. A slow recovery in 2010, with real GDP growing by only 1.5 percent. An unemployment rate that will exceed 9 percent early in 2010; the unemployment rate has been that high only twice in the past 50 years (in 1975, for one month, and in 1982-1983). A continued decline in inflation, both because energy prices have ...
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