Copyrighted Image? DMCA | What we see from these four points made by CBO is that the real danger to policymakers isn't large deficits and debt. The real danger is that they will pay attention to analysis done of large deficits and debt by CBO and others like it--such as most economists--and unfortunately they are all paying attention and echoing this same sort of analysis. And here we all sit in a six year trough relative to potential GDP (the Output Gap, also measured by CBO), continued high unemployment (particularly if you include underemployment, etc.) and low participation rates, and with even fairly decent job creation that however is focused on the low-wage end compared to previous recoveries. And this isn't even to mention the Eurozone nations that are still in depression states. |
Read the rest of the story HERE:
At neweconomicperspectives.org
At neweconomicperspectives.org
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