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budget-deficit

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US not ready for a budget commitee

Dr Bruce Bartlett / 26-01-2010
As I wrote the other day, I have always been lukewarm to the idea of a budget commission because I don’t think we are ready, politically or economically, for serious deficit reduction. I also have problems with the way the proposed commission would be structured–requiring a supermajority for every recommendation seems like a recipe for gridlock. That [...]
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Greek debt risks can be self-fulfilling prophecy

Prof. Stefan Karlsson / 25-01-2010
Worries over the big budget deficit in Greece have steadily escalated in recent weeks, causing the yield spread between Greek and German bonds to exceed 300 basis points (3 percentage points). But how serious is this crisis really? The truth about the issue is that Greece’s public finances are indeed in a bad shape, but that [...]
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2010 not frighteningly bone-jarring as 2008

Michael Panzner / 01-01-2009
Many commentators are upbeat about prospects for the coming year. Among other reasons, they believe that severe recessions are invariably followed by sharp rebounds, even though history suggests financial crisis-inspired downturns tend to be protracted affairs. They are confident that various government-sponsored bailouts and stimulus programs have kick-started a sustainable recovery, even though many of the [...]
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Cause for Alarm

Michael Panzner / 20-12-2009
The Keynesian Kool-Aid drinkers keep insisting that big deficits and rapidly growing piles of public debt don’t really matter as long as there is “slack” in the economy. But they live in a fantasy world where ill-conceived policies are not subject to vetting by market and other forces. As the Greeks (among others) are now [...]
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Seeing Through the Fog of Funny Money Policymaking

Michael Panzner / 11-12-2009
  OK, let’s go through this one more time. Despite what we keep hearing from the politicians and moneymen, things are not getting better. Yes, we have seen the economic equivalent of a dead cat bounce — how could we not, given the trillions that have been thrown at the system — but it is simply [...]
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