If you had any doubts that Republicans believe in government stimulus spending to create jobs, look no further than the Pentagon budget. Two years after House Speaker John Boehner sought $450 million in funding for a second F-35 jet engine that the Defense Secretary and Presidents Bush and Obama opposed, Ohio Senator Rob Portman and […]

Friday's news that U.S. gross domestic product grew by only 2.5 percent came as a disappointment. After all, that performance not only fell short of the consensus expectation of three percent GDP growth, but was aided by a one-time bump for inventory expansion deferred from the last quarter of 2012. And while the strengthening housing […]

Thanks to graduate student Thomas Herndon, economists Kenneth Rogoff and Carmen Reinhart are now the stuff of pop culture legend. (Even Stephen Colbert is getting in on the act.) But the epic failure of their Excel spreadsheets is no laughing matter. In the United States and across Europe, austerity advocates have seized on their dubious […]

The Obama administration on Friday lifted the covers on its compromise budget proposal for fiscal year 2014. But despite slashing the national debt by a projected $1.8 trillion over the next decade (bringing the total reductions since 2011 to $4.3 trillion) through painful changes to Social Security and Medicare, Republicans are predictably balking at Obama's […]

Judging by the stories dominating the domestic news, the past couple of weeks have not been kind to that 47 percent of Americans Mitt Romney mocked as takers, freeloaders and self-proclaimed victims. While the Washington Post profiled a Rhode Island town in which a third of the residents are dependent on food stamps, former SNAP […]

As the nation teetered on the edge of the so-called "fiscal cliff" in late 2012, Republican leaders warned that higher taxes for the rich would crush "job creators" and derail the U.S. economic recovery. But according to a new survey, a majority of those earning over $500,000 a year report that the new higher rates […]

As the deadline for the March 1 budget sequester approached, John Boehner made a surprising admission. Asked if he had "a sense of how many jobs will be lost as a result of the sequester," the Speaker of the House said, "I do not." On Sunday, Boehner once again proclaimed his ignorance in an interview […]

Less than two weeks ago, Congressional Budget Office (CBO) Director Douglas Elmendorf warned the House Budget Committee that the looming March 1 sequester would have a devastating impact on U.S. employment. "We think that would reduce the level of employment at the end of the year," Elmendorf cautioned, "by about 750,000 jobs." Apparently, Republican House […]

Douglas Holtz-Eakin is everywhere. This week, the conservative economist and former director of the Congressional Budget Office co-authored a widely read--and widely panned--prescription for Republican health care reform. And for months, the President of the American Action Forum has used his perch on The Guardian op-ed page to slam President Obama over the U.S. national […]

Last month, an analysis by Berkeley Professor Emmanuel Saez revealed that the top 1 percent of American earners captured all the income gains during the first two years of the current economic recovery while the other 99 percent lost ground. Now, a new analysis by Congressional Research Service analyst Thomas Hungerford is just the latest […]