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Posts Tagged ‘recession’

The Middle Class Gets Wise

October 21st, 2013

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Perhaps we underestimate ourselves. Five years after the Lehman collapse triggered the deepest recession in eight decades, the middle class may be solving the vexing problems of income inequality and stalled wages on its own.

Faced with unemployment and dim job prospects, Americans made one significant change that should alter their fortunes and those of the middle class for decades: they went back to school. During the recession, there has been a sharp surge in the number of Americans who are getting a college degree. Read the rest of this entry »

AAA Credit but Junk Bond Politics

August 2nd, 2011

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This piece was originally published in Politico.

What if there’s another recession? That’s still a threat, even if the debt deal passes. If the recession starts while Barack Obama is president, it would normally be called “the Obama recession.”

But maybe not this time. Because after the debt deal, The Republicans in Congress own this economy just as much as Obama does. They’re the ones who drove the deal — and if the economy goes into recession, they’ll bear a lot of the responsibility.

The deal initiates a new regime in American politics: The Scarlet A. We’re in for an era of Austerity. The huge spending cuts — half now, half five months from now — threaten to turn a fragile recovery into a double-dip recession. Read the rest of this entry »

What would Dieter do?

October 14th, 2010

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This piece was originally posted on The Wall Street Journal’s Real Time Economics Blog.

Sprechen Sie Trade?

When it comes to exports, the United States could learn something from Germany.

In the second quarter, Germany’s economy grew at a blistering annual rate of 9%, almost all of which was due to robust exports. In August, German manufacturing orders expanded by a healthy 3.4%, driven by strong foreign demand for products like Audis in China. America’s economy is four times larger than Germany’s, but Germans export more manufactured goods than us, and those exports account for over a third of Germany’s GDP.

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For energy reform advocates, lessons from health care

August 2nd, 2010

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This piece was originally published in The Washington Post.

With the United States struggling to recover from a job-killing recession, a Democratic president asks a Democratic Congress to pass sweeping reform of a major sector of the economy. “We can no longer afford to continue to ignore what is wrong,” he explains. “We must fix this system, and it has to begin with congressional action.” The public, however, rejects this plea. The proposal dies in Congress, and recriminations begin. Chastened and disappointed, advocates regroup and seek a new path forward.

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Politics trumps economics on deficit

July 7th, 2010

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This piece was originally published in Politico.

The recovery has hit a wall. In June, the U.S. economy lost jobs for the first time this year. Existing home sales plunged 30 percent in May. Time to pump money into the economy!

But wait. The national debt is projected to jump to 62 percent of the economy by the end of this year. That’s the highest level since just after World War II. Time to cut back!

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Bullish on November

April 6th, 2010

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This piece was originally published in Roll Call.

It is becoming clear that progressives need to lay the groundwork to claim success. No, not on health care — the benefits of which may take years to realize ­— but on the economy.

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