Inspired by the popularity of Greg Mankiw’s Pigou Club, which favors using taxes (or auctioned permits) to address pollution problems, the Committee for a Responsible Federal Budget has created its own: the “Announcement Effect Club.”
To become a member, you need to endorse the idea that it would help the U.S. economy if our elected leaders could develop a credible plan to bring our deficits and skyrocketing debt under control. In CRFB’s phrasing:
While aggressive debt reduction in the short term might imperil the fragile recovery, the announcement of future deficit reduction can actually strengthen it.
I’m happy to be a member (based on this post last October).