Today’s Jobs Report in Pictures
The economy added private sector jobs for the 34th straight month in December, but a robust recovery remains elusive, long-term unemployment remains very high, and threats to the economy from...
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The “Fiscal Cliff” Deal and Income Inequality
Any evaluation of the recent “fiscal cliff” budget deal needs to consider its impact on one of the most powerful and troubling economic trends of recent decades: the sharp rise in income inequality....
View ArticleToday’s Jobs Report in Pictures
Employers continued to add jobs in January, but the economy must grow faster to bring unemployment down more quickly — and scheduled across-the-board budget cuts would only make that harder. Below are...
View ArticleBernstein: Don’t Let Deficit Focus Crowd Out Education and Job Creation
Testifying today at a House Education and Workforce Committee hearing on “Challenges and Opportunities Facing America’s Schools and Workplaces,” CBPP Senior Fellow Jared Bernstein explained that...
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Austerity Still Bites
The American Taxpayer Relief Act (the “fiscal cliff” deal of early January) dialed back the fiscal restraint that was scheduled to take effect — enough, in fact, that the Congressional Budget Office...
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Greenstein on Deficit Reduction and the Safety Net
Testifying before a Senate Budget Committee hearing today, CBPP President Robert Greenstein said that policymakers will have to make tough decisions to put the budget on a more sustainable fiscal...
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North Carolina’s Costly Cut in Jobless Benefits
North Carolina, where unemployment is over 9 percent, is close to enacting a breathtaking cut in jobless benefits that would surely prove extremely harmful for unemployed workers — and very bad for...
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After Cutting Jobless Benefits, North Carolina Takes Aim at Working-Family...
The North Carolina House of Representatives voted yesterday to end the state’s earned income tax credit (EITC) for working families at the end of the year. Coming on the heels of the state’s move...
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Recession, Past Policies Continue to Drive Deficits
Federal deficits and debt have risen sharply under President Obama, but the evidence continues to show that the Great Recession, President Bush’s tax cuts, and the wars in Iraq and Afghanistan explain...
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Tax Cuts and Wars Will Continue to Fuel Debt Through the Decade
As we noted yesterday, we’ve updated CBPP’s periodic analysis of the main contributors to the large budget deficits projected for the rest of this decade. That analysis also examines contributors to...
View ArticleBernstein: Tax Expenditures Offer a Useful Way Forward on Deficit Reduction
In testimony today before a Senate Budget Committee hearing, CBPP Senior Fellow Jared Bernstein explained why reforming tax expenditures (tax deductions, exclusions, and other tax breaks) “should...
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Bernstein: Why Future Budget Deals Must Include New Revenues
As we’ve noted, CBPP Senior Fellow Jared Bernstein told a Senate Budget Committee hearing yesterday that tax expenditure reform offers a useful way forward in the debate over deficit reduction, since...
View ArticleToday’s Jobs Report in Pictures
Today’s jobs report shows an encouraging increase in payroll employment of 236,000 jobs in February, but a more complicated picture of unemployment. The unemployment rate edged down to 7.7 percent but...
View ArticleSeven Other Important Numbers from Today’s Jobs Report
Media coverage of the February jobs report has focused on two numbers: 236,000 (the increase in private and government payrolls) and 7.7 percent (the unemployment rate). Below are some other numbers...
View ArticleState Jobs Picture Darker Than We Thought
States’ and localities’ ability to provide public services has been damaged even more deeply in recent years than experts had thought, today’s jobs report indicates — and federal funding cuts are...
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Why Deficit Reduction Must Protect Effective Low-Income Programs
With President Obama and lawmakers of both parties vowing to achieve further deficit reduction, the stakes are high for low- and moderate-income Americans. Moreover, as we explain in a new paper, if...
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Yes, the Ryan Budget Is Contractionary
If enacted, House Budget Committee Chairman Paul Ryan’s budget would slow the economic recovery. Chairman Ryan selectively uses Congressional Budget Office (CBO) analysis to argue that his budget...
View ArticleWhy Balancing the Budget Over the Next Decade Isn’t the Right Goal
Joel Friedman and Robert Greenstein have a commentary explaining why balancing the budget by the end of the decade, as the new budget from House Budget Committee Chairman Paul Ryan aims to do, isn’t...
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Ryan Roundup 2013: Everything You Need to Know About Chairman Ryan’s Latest...
Below is a compilation of the CBPP analyses and blog posts on House Budget Committee Chairman Paul Ryan’s budget, which the House has passed. Overview/General Statement: Robert Greenstein, President,...
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Today’s Jobs Report in Pictures
Today’s jobs report, with disappointing job growth and a large drop in the labor force, shows that a robust jobs recovery remains elusive. That situation won’t likely improve in coming months as the...
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