Heterodox
This popped up on “Letters from an American” just last night. I was too tired to read Prof. Heather Cox-Richardson’s article. So, I missed out on a good message about the income of America’s population. This is a recent commentary by the not-so nonpartisan Congressional Budget Office in September 2022. The thrust of the article? “Trends in the Distribution of Family Wealth, 1989 to 2019.” Prof. Heather Cox-Richardson’s Introduction; Since...
Read More »J. W. Mason — The CBO Just Handed Us Two Trillion Dollars
In their most recent 10-year budget and economic forecast, the CBO made a big change, reducing their long-run forecast of the interest rate on government bonds by almost a full percentage point, from 3.7 to 2.9. Most directly, the new, lower interest rate reduces expected debt payments over the next decade by $2.2 trillion. It also significantly reduces the expected debt-GDP ratio. Under the assumptions the CBO was using at the start of this year, the debt ratio under existing policy...
Read More »Alan Longbon — Good News: The CBO Reports The Federal Government Deficit Will Be Larger Than First Thought And Go On For Decades
SummaryContrary to mainstream opinion the CBO report is a positive result. The CBO finds that higher deficits will lead to higher and faster GDP growth and employment. The governement deficit is the private sector surplus and while the private sector balance remains positive and grows the likelihood of a stock market crash or recession is low. The purpose of this report is to show the finding of the latest CBO about the Federal deficit is a good thing and should be celebrated. To produce...
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