Economics

Economics Issue Area

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Does CBO "Expect the TCJA to Significantly Boost" the Economy in 2018?

UPDATE: The FRBSF paper has been corrected to remove the erroneous claim that CBO’s growth estimates are well in excess of theirs. The below fact...

The Deficit Is Not "Coming Down Rapidly"

This morning, White House National Economic Council Director Larry Kudlow appeared on Fox Business and made the following claim (emphasis added...

CBO Economic Forecasts Are Similar to the Consensus, Unlike OMB

The Congressional Budget Office's (CBO) analysis of the President's Fiscal Year (FY) 2019 budget found that the President's policies would still...

Can America Sustain the Recent Economic Boost?

Key Takeaways: The good news is that the economy is doing well; however, this is unlikely to turn into sustained growth at the same rate. Short-...

It Would Take Nearly Unprecedented Economic Growth to Balance the Budget

Increased economic growth has often been cited as a solution to our fiscal problems or as a way to offset deficit-increasing legislation....

Is CBO "Always Wrong" Because It Doesn't Understand Growth?

In dismissing projected trillion-dollar deficits, National Economic Council director Larry Kudlow recently claimed that one should "never believe the...

IMF: Tax Bill's Boost to Growth is Short-Term

This week, the International Monetary Fund (IMF) released a new estimate of economic growth, revising their short-term estimate upwards because of...

Official Analysis Finds Tax Bill Will Produce Marginal Growth, Cost $1.1 Trillion

At the end of December, the Joint Committee on Taxation (JCT) released its final dynamic analysis of the Tax Cuts and Jobs Act (TCJA). JCT's analysis...

Official Dynamic Score Shows Senate Tax Bill Will Still Cost Over $1 Trillion

The Joint Committee on Taxation (JCT) has released its official dynamic score of the Senate tax plan as passed by the Senate Finance Committee,...