The latest report from the Congressional Budget Office was released today. The outlook is grim. Here’s a link to the report: CBO Outlook 2009 – 2019 The report is the usual long winded analysis, but the headline is the Federal deficit of over $1 trillion for this revenue year. And that’s without the effects of […]

Paul Krugman alerted me, in his blog, to this academic paper: Rajan Paper 2005 I pass it on to you in the hope that some of you will read it. The author is a respectable economist who was roundly set upon by the establishment figures gathered at the Jackson Hole event he presented the paper […]

Now that the New Year has arrived all eyes are focused on the stimulus plan being assembled by the Obama team. First reports indicate that as much as $300 billion wll be in the form of tax cuts. That’s a bad idea. Here’s Krugman in today’s New York Times explaining why: Fighting Off Depression The […]