Economics
Latest
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2021 Inflation Totaled 6.7 Percent
Read moreThe Bureau of Labor Statistics (BLS) today released Consumer Price Index (CPI) inflation data for December 2021. Based on BLS’s data, we estimate CPI...
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Reducing Build Back Better Inflation Risk
Read moreAs we recently discussed, the House-passed Build Back Better Act is likely to be modestly inflationary over the next few years. Though we expect the...
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What Will Build Back Better Mean for Inflation?
Read moreWith inflation on track to reach its highest annual rate since 1990, experts and advocates are in disagreement over whether the Build Back Better Act...
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State and Local Governments Flush with Cash
Read moreThe Bureau of Economic Analysis (BEA) recently released data on state and local government spending and receipts in the third quarter of 2021...
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Reconciliation Unlikely to Produce $600 Billion in Dynamic Revenue
Read morePolicymakers are claiming their $3.5 trillion reconciliation package will be fully paid for by counting on $600 billion of dynamic feedback on top of...
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CBO Report Shows Infrastructure is More Pro-Growth When It's Paid For
Read moreThe Congressional Budget Office (CBO) released a report today detailing the macroeconomic effects of two illustrative, $500 billion infrastructure...
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Trust Fund Solutions Would Be Pro-Growth
Read moreIn our recent paper “ The Case for Trust Fund Solutions,” we showed that making the Social Security, Medicare, and highway trust funds solvent would...
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Five Reasons to Pay for New Investments
Read moreCongress and the Administration are currently negotiating and developing legislation to invest in physical infrastructure, education, and other areas...
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COVID Relief Continues to Bolster Personal Income
Read moreNew data from the Bureau of Economic Analysis (BEA) for the month of April shows that disposable personal income (DPI) was 12.0 percent above pre...
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Partial Student Debt Cancellation is Poor Economic Stimulus
Read moreLast year, we estimated that fully canceling student debt would produce eight to 23 cents of economic activity for every dollar of cost and speculated...
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Interest Payments in the Federal Budget
Read moreAt a projected cost of over $300 billion this fiscal year, interest payments are a significant part of the federal budget. Net interest is currently...
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COVID Relief Lifted Personal Income to Record Levels
Read moreOf the $5.9 trillion ($5.2 trillion net) of enacted COVID relief, we estimate $3.6 trillion was committed or disbursed over the one-year period...