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The Administration’s employment projections
Today President Obama's Council of Economic Advisers, chaired by Dr. Christina Romer, released the annual Economic Report of the President. The economic projections in the report form the baseline for the President's budget and all Administration policy making through the year.
Carbon cap = Public option
Let's compare the public option of health care reform with a carbon cap in the clean energy/climate change/cap-and-trade debate.
More on the decade of profligacy argument
Last Tuesday I critiqued one of President Obama's attacks in my post "Which is the decade of profligacy?" Mr. Jonathan Chait, Senior Editor of The New Republic, wrote a response which he labeled "the beatdown that was nine years in the making," and his "smackdown post." I will respond here to Mr. Chait's arguments.
Should we care about deficit reduction or deficits?
Whether the President's budget represents an improvement or harm isn't that important to me. Arguing about deficit reduction is something of a distraction. We should instead focus on the deficits that would result from a particular set of policy changes. If the resulting deficits are too big, then we need to make bigger policy changes so that the resulting deficits are acceptable.