Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

Click on the image to get a bigger version.


Jobs

The best summary of the state of our economy is the graph (below) of employment as a fraction of population for people over 16 years old. The decrease is large, but the most troubling feature of the graph is the flat trend .


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Graph-of-the-Year Candidates

Donald Marron likes European interest rates. Click on the image to get a bigger version. Can you find three distinct subperiods?

Brad DeLong favors the U.S. gdp gap.


Remember M1?

Money Supply M1 growth is now over 20% per year over a 12 month lag. M1 growth has touched 20% before, but not with excess reserves of $1.6 trillion. Where is M1 headed?


Click on the chart for a larger version.


EconModel

The Economics Roundtable is sponsored by EconModel.

The Classic Economic Models cover micro, macro, and financial markets.


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TaxVox

Tax Policy Center:  Urban Institute and Brookings Institution


December 18, 2014, 4:34 pm, 1391704

Everybody loves the idea of tax reform. And tax reform can be very good policy.

But advocates often turn to magical thinking about how good tax reform can be, and a recent column by George Will offers two examples of this problem.

First, Will writes that “if America’s long-term economic growth ...


December 18, 2014, 4:34 pm, 1391705

In a few weeks, veteran Utah Republican Orrin Hatch will become chair of the Senate Finance Committee. Soon after, the panel may begin tackling tax reform. While there is good reason to be skeptical about how far a tax code rewrite will get in the next Congress, it is worth keeping ...


December 18, 2014, 2:34 pm, 1391626

In a few weeks, veteran Utah Republican Orrin Hatch will become chair of the Senate Finance Committee. Soon after, the panel may begin tackling tax reform. While there is good reason to be skeptical about how far a tax code rewrite will get in the next Congress, it is worth keeping ...


December 18, 2014, 2:34 pm, 1391625

Everybody loves the idea of tax reform. And tax reform can be very good policy.

But advocates often turn to magical thinking about how good tax reform can be, and a recent column by George Will offers two examples of this problem.

First, Will writes that “if America’s long-term economic growth ...


December 17, 2014, 10:34 am, 1390729

Congress has adjourned. The Daily Deduction will post on Mondays until the 114th Congress convenes.   

Expired tax breaks: Renewed for 2014. Last night the Senate passed a $42 billion package of expired tax breaks by a vote of 76-16. In two weeks’ time, the tax breaks will expire. Again. Senate ...


December 17, 2014, 8:34 am, 1390649

In the end-of-the-year congressional scramble, lawmakers scuttled an effort to permanently extend a number of tax breaks—largely because many feared it would open the door to widespread use of refundable tax credits by undocumented immigrants covered by President Obama’s recent executive order.  But is their concern justified?

Three sets of ...


December 17, 2014, 8:34 am, 1390648

Oh, what a night…” but no shut down. Ted Cruz and a handful of allies succeeded in delaying the Senate vote on the 2015 budget, but they couldn’t stop it. The $1.1 trillion spending bill was approved late Saturday night by a vote of 56-40. And ...


December 17, 2014, 8:34 am, 1390647

Still on deck in the Senate: It is expected this week to renew dozens of expired tax breaks, including tax cuts for business research, wind power, and foreign profits. It’s worth remembering that if a $42 billion package like this gets passed every year, the


December 17, 2014, 8:34 am, 1390646

The massive 2015 spending bill that President Obama is likely to sign this week continues an ongoing effort to trash the Internal Revenue Service.  It is a cynical recipe for a self-fulfilling disaster: Give the agency more and more work. Cut its budget. Blame it for failing to do its ...


December 17, 2014, 8:34 am, 1390645

Congress has adjourned. The Daily Deduction will post on Mondays until the 114th Congress convenes.   

Expired tax breaks: Renewed for 2014. Last night the Senate passed a $42 billion package of expired tax breaks by a vote of 76-16. In two weeks’ time, the tax breaks will expire. Again. Senate ...