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Research Reports Vol. LXXVIII, No. 8 | May 2, 2011 by Polina Vlasenko, PhD, Research Fellow Additional Content ASK THE EXPERT: Tax Time Resolutions by Kevin T. McGrath, CPA Jobless Rates Differ During Recessions by Polina Vlasenko, PhD, Research Fellow
READ MORE“Republicans and Democrats on Capitol Hill are strategizing for what is expected to be a bruising debate on raising the nation’s debt limit and reining in government spending. The Obama administration has set an early-July deadline for lifting the $14. …
READ MORE“The conventional wisdom in Washington — on the left and among many on the right — is that the debt ceiling must be raised in order to avoid defaulting on the national debt, a potentially catastrophic scenario, the thought of which has business and fin …
READ MORE“No man in America is a match for House Budget Committee Chairman Paul Ryan on the federal budget. No congressman in my lifetime has been more determined to cut government spending. No one is better informed for the task he has set himself. Nor has any …
READ MORERejecting any serious cuts to government spending, President Obama stated recently, “Nothing is easier than solving a problem on the backs of people who are poor, for people who are powerless and don’t have lobbyists or don’t have clout.” Exactly. In t …
READ MOREThe problem of bank runs is probably the most serious concern in monetary economics. It is clear that if all clients claim back their depositors together the bank will fail. This situation, it is argued, puts the banks in an unstable position where the …
READ MORE“The economics profession not only failed to predict the recent financial crisis, but has been struggling in its aftermath to reach a consensus on the cause(s) of the crisis. While competing narratives are being offered and evaluated, the narrow scope …
READ MORE“America currently has $14 trillion in debt on the books and another $70 trillion or so in unfunded entitlements and pensions that are not yet on the books. These debts will never be repaid with dollars at current value. Either America will devalue its …
READ MORE“As to where the money is coming from, Humphrey announced, “We can pay for it out of a growing, expanding economy. And it is actuarially sound.” It is depressing to record that three days later, on Sept. 28, Richard Nixon also proposed that Social Secu …
READ MOREThe Greenspan-Bernanke explanation on the cause of the financial bubble rests on the theory of the saving glut. According to this explanation, the problem was not that the Fed mismanaged the monetary policy, but that a saving glut that took place outsi …
READ MORE“A European bank that received the most Federal Reserve discount window help during the financial crisis also took $381 billion in aid from its home countries and owned subsidiaries implicated in bid-rigging that prosecutors say defrauded U.S. taxpayer …
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