Tag: business cycle

Jobs 2012

By now everyone has heard about the latest jobs report. I’m going to repeat myself. It isn’t time to cheer. It is time to figure out how to get the millions of Americans who are trying to get work, back to work. We haven’t gotten there yet. There are still more than four job seekers for every job out there. We have to get this economy going. This is a start. It is a good start. From EPI: The labor market started off 2012 with a nice surprise. The January 2012 employment situation report from the Bureau of Labor Statistics showed

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We Need to Focus Our Priorities (re-posted)

Several months ago I wrote: Now the deficit guys (cleverly described as “deficit peacocks,” since they’re really not hawks) are out in force. They have America worried about how to pay for all of this red ink. Remember when President Clinton handed over the keys to the White House to President Bush? He handed Bush a budget surplus that was projected to be approximately $800 billion per year from 2009 to 2012. Instead, it looks as if we’re spending $1.2 trillion more than we’re taking in during this same time frame. What happened? About 33% of this $2 trillion deficit (the

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Supply-side was always done with sleight of hand

Republicans have now argued for over 30 years that we need to cut taxes and the rich will have more money to spend on all of us. It is the core of supply-side economics. It has NEVER worked. From EPI: Contrary to the predictions of supply-side proponents, the 1981 tax cuts did not lead to better economic performance.  Economists generally measure performance from one business cycle peak to the next.  The last three peaks occurred in 1979, 1989, and 2000.  It is instructive to compare the performance of investment, productivity, and output in the 1979-89 cycle, which was influenced by the

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Errington C. Thompson, MD

Dr. Thompson is a surgeon, scholar, full-time sports fan and part-time political activist. He is active in a number of community projects and initiatives. Through medicine, he strives to improve the physical health of all he treats.


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