We are frequently asked whether there should be a “second stimulus” bill. Unfortunately, what is being considered on Capitol Hill is a very different animal from what we did earlier this year. 10-second macroeconomic review GDP = Consumption + Investment + Government spending + Exports – Imports = C + I + G + X […]
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Tag Archives: 43
USA Today op-ed: Keep taxes low
9 June 2008 
1 Comment
USA Today editorializes today against making the tax cuts permanent, and includes an opposing view from me. I’ll include both here. I’ve learned that he who writes the opposing view is at a disadvantage, in that they get to see what I wrote, but not the reverse. I thought I had anticipated their attacks, but […]
Read moreThe wrong way to address climate change
3 June 2008 Comments Off
The Senate is now debating a climate change bill, typically referred to as the “Lieberman-Warner” bill, referring to Sen. Joe Lieberman (I-CT) and Sen. John Warner (R-VA). Technically, we think they’ll end up considering a slightly different version of that bill, offered by the Chair of the Senate Environment and Public Works Committee, Sen. Barbara […]
Read moreDefense earmarks
29 May 2008 Comments Off
Each year Congress considers the “defense authorization bill.” This bill gives the U.S. military its legal authorities. The House passed this bill last Thursday. One provision in the bill would attempt to limit the President’s ability to ignore certain earmarks in the report language that accompanied the bill. This is an important moment in the […]
Read moreA messy end to a bad farm bill
28 May 2008 1 Comment
Now let’s look at last week’s farm bill procedural snafu. Last Wednesday we thought the farm bill veto would be straightforward: Congress passes the farm bill conference report and sends it to the President. There are several steps in this process. The bill is passed by both Houses. That’s the “engrossed bill.” This engrossed bill […]
Read more President Bush vetoed the farm bill
28 May 2008 Comments Off
I wrote the following last Wednesday evening, in anticipation of a straightforward farm bill veto. Little did I know the procedural snafu that would arise. I have since edited it and written a follow-up. I will send the follow-up email soon. The first, written last Wednesday and included below, explains what we thought would happen. […]
Read moreThe Farm Bill will be vetoed
14 May 2008 Comments Off
We expect the House to vote on the Farm Bill conference report today. The President will veto this bill. Here is the President’s statement on the bill. The final legislative language for the conference report was released Tuesday morning. Hint: If you want to find the really bad stuff in a big bill, always start […]
Read moreFood prices & food aid
1 May 2008 Comments Off
The President spoke this afternoon about high food prices and food aid. If you’d like more detail, here’s our “fact sheet.” And if you really want to dive down deep, here is a transcript of a press briefing done by three senior administration officials after the announcement: OMB Deputy Director Steve McMillin, CEA Chairman Ed […]
Read more Are taxes too low?
15 February 2008 Comments Off
President Bush has signed into law 15 bills cutting taxes. The 2001 and 2003 tax laws were the biggies. Here’s a list. This President has a well-established record as a tax cutter. Many of our critics argue that we cut taxes too much, and that we need to repeal some or all of the enacted […]
Read moreEnacting President Bush’s growth proposal
13 February 2008 Comments Off
About three hours ago, the President signed into law H.R. 5140, The Economic Stimulus Act of 2008 , less than four weeks after he first proposed Congressional action. We are enormously pleased with this rapid and bipartisan legislative success. The final bill passed the House 380-34, and the Senate 81-16. Here is a one-page summary […]
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