article thumbnail

Government Spending Is Out of Control! LOL

The Big Picture

The text accompanying that chart reads: “ Consumption: in 2024, one third of GDP came from government spending, a record high excluding periods of war or crisis; this was financed by 6-7% budget deficits, another unwelcome peacetime record.”

article thumbnail

MiB: Stephanie Kelton on US Fiscal Policy and the ‘Deficit Myth’

The Big Picture

We discuss US fiscal policy, recession risks, and her New York Times bestseller “ The Deficit Myth: Modern Monetary Theory and the Birth of the Peoples Economy.” Senate Budget Committee, and was senior economic adviser for Bernie Sanders 2016 and 2020 presidential campaigns. She served as chief economist on the U.S.

Economics 200
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Podcast links: thinking freely

Abnormal Returns

arstechnica.com) Economy Derek Thompson talks Gen Z with Kyla Scanlon, author of "In This Economy?: fasterplease.substack.com) Policy Stephen Dubner talks tax myths with Jessica Riedl, a senior fellow in budget, tax, and economic policy at the Manhattan Institute. techcrunch.com) Pocket Casts is making its podcast player free.

Budgeting 147
article thumbnail

Sunday links: money skepticism

Abnormal Returns

nytimes.com) Budgeting When you do the math, it's hard to find trillions to save in the federal budget. econbrowser.com) The Department of Veteran Affairs now makes up 5% of the federal budget. economist.com) No-limit vouchers are blowing a hole in the state of Arizona's budget. Just ask Norway.

Math 173
article thumbnail

MiB: Philipp Carlsson-Szlezak, Global Chief Economist for BCG

The Big Picture

He discuss structural changes to the global economy, doomsaying, and his book Shocks, Crises, and False Alarms: How to Assess True Macroeconomic Risk , A list of his favorite books is here ; A transcript of our conversation is available here Tuesday. He is a frequent contributor to Harvard Business Review and World Economic Forum.

Economics 162
article thumbnail

Collapse in Prospective Home Buyer Traffic

The Big Picture

Sure, RRE/CRE is a huge part of the economy, so its health is always important. But for the purposes of our discussion about the state of the economy and rising interest rates, Real Estate is where the rubber meets the road. Rising Fed Funds Rates make capital and credit more expensive; the calculus around both debt and equity shifts.

Budgeting 363
article thumbnail

"Short Memories"

Calculated Risk

But for the economy and policy, short memories are a negative. And once again the riches will flow, until the economy suffers. The "debt ceiling" is redundant (once a budget or a continuing resolution is passed, then the impact on the debt is pretty much known).

Budgeting 277