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Investing in America’s EconomyDemos, EPI and The Century Foundation have produced a budget blueprint for economic recovery and fiscal responsibility. The blueprint prioritizes a strong economic recovery because widespread job creation and robust economic growth are essential to successful deficit reduction. |
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Unemployment by stateNew state data show nine states -- as well as Washington D.C.-- had unemployment rates of 10% or higher in November. |
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Summers on deficits, tax cuts and public investmentDeparting White House economic advisor Larry Summers, speaking at EPI, said “it is right and necessary” for the government to counteract a private sector spending slowdown. |
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Three years later, millions wait for jobsDecember marks three years since the start of the Great Recession – and 18 months since it officially ended. But new data released on Friday show a nationwide unemployment rate of 9.8%. |
The ratio of unemployed workers to job openings improved to 4.4-to-1 in October from the revised September ratio of 4.9-to-1. Read More
How the payroll tax cut negotiated by President Obama and Senate Republicans would hurt workers earning less than $20,000 a year. Read More
Economic inequality is often described in terms of income inequality, but the distribution of wealth in the United States is actually more unequal than the distribution of wages and income. Read More
December 6, 7:49pm
Who got what out of (Monday's deal between President Obama and Republican leaders) is clear. The Republicans got tax cuts for the best-off two percent and lower estate taxes for the very wealthiest families, neither of which will do much if anything to create jobs.
President Obama won policies that will put or keep money in the pockets of the unemployed and middle and low-income families, which will increase spending and create jobs.
That’s what a payroll tax holiday for workers, unemployment benefits and the various tax credits will do: create customers for business and create jobs, which is our biggest need right now.
In two years, the American people will have a clear choice about who the tax code will favor. That debate will, I hope, highlight the hypocrisy of those wanting to deepen the deficit by extending tax cuts for the rich while simultaneously cutting health care, Social Security and domestic public investments in the name of deficit reduction. -Lawrence Mishel
Quick Takes archive
Final speech by outgoing National Economic Council Director Lawrence Summers
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