by jpitney | Jul 17, 2025 | Congress, Economic Policy
From CBO: In this report, the Congressional Budget Office assesses its economic forecasts over the first two years and five years of each baseline period from as early as 1976. (The baseline period is the time frame covered by the agency’s annual baseline...
by jpitney | Jul 9, 2025 | Economic Policy, Korea
The U.S. is imposing a 25% tariff on Korea because of trade deficits that it claims are “engendered by Korea’s Tariff and Non Tariff, Policies and Trade Barriers.” But Korea has a free trade agreement with the U.S. It charges zero tariffs on nearly...
by jpitney | Jun 29, 2025 | Debt, Economic Policy
Committee for a Responsible Federal Budget: The Congressional Budget Office (CBO) just published their “current policy” score of the Senate reconciliation bill, showing the bill would add about $500 billion less to the deficit than extending all the expiring 2017 tax...
by jpitney | Jun 26, 2025 | Economic Policy, Trade
Phil Gramm and Donald Boudreaux at WSJ: Because steel and aluminum are crucial in manufacturing, anything close to a 50% tariff will drive up the cost of U.S. manufactured products dramatically. That will harm consumers, make U.S. manufactured products far less...
by jpitney | Jun 24, 2025 | Economic Policy, Trade
Fed Chair Jerome Powell: Policy changes continue to evolve, and their effects on the economy remain uncertain. The effects of tariffs will depend, among other things, on their ultimate level. Expectations of that level, and thus of the related economic effects,...
by jpitney | Jun 19, 2025 | Economic Policy, Social Security, Uncategorized
Committee for a Responsible Federal Budget: The Social Security and Medicare Trustees released their annual reports, today, highlighting the precarious financial states of the programs. The Trustees project that both the Social Security retirement trust fund and the...
