Last week the Congressional Budget Office released updated budget projections — a treasure trove of information for budget wonks. For example, CBO released new estimates of the direct budget costs of the 2009 stimulus bill, officially known as the American Recovery and Reinvestment Act (ARRA). CBO now estimates that ARRA will cost $814 billion from 2009 [...]
Posts Tagged ‘Stimulus’
A New Price Tag for Stimulus: $814 Billion
Posted in Budget, Macroeconomics, tagged Budget, CBO, Macroeconomics, Stimulus on August 24, 2010 | 1 Comment »
Will Illinois Go Bankrupt Because of Scott Brown?
Posted in Budget, Politics, tagged Budget, Politics, States, Stimulus on January 30, 2010 | 4 Comments »
A sharp reader offers the following hypothesis (which I have edited): Illinois is fundamentally bankrupt. It has less than $1 million in cash, pays vendors net 90, and owes its state university $450 million that it cannot pay. Oh, and it also has $60 billion in unfunded pension liabilities. Now that the Republicans have 41 [...]
A New Price Tag for Stimulus: $862 billion, not $787 billion
Posted in Budget, Macroeconomics, tagged Budget, CBO, Deficit, Stimulus on January 27, 2010 | 25 Comments »
Amongst its usual cracker jack budget projections yesterday, the Congressional Budget Office provided a few toy surprises for budget watchers. One is an updated estimate of the direct budget costs of the 2009 stimulus bill, officially known as the American Recovery and Reinvestment Act (ARRA). CBO originally estimated that ARRA would cost $787 billion from [...]
Some Questions about TARP’s Future
Posted in Budget, Finance, Politics, tagged Budget, Finance, Politics, Stimulus, TARP on December 8, 2009 | 4 Comments »
As I discussed the other day, using TARP to pay for new jobs programs faces some serious practical issues. First, the administration is limited in how it can deploy existing TARP funds. It should be straightforward to use more funds to support lending to small businesses (which TARP already does to some extent), but it [...]
Can TARP Be Used to Pay for a New Jobs Program?
Posted in Budget, Finance, Politics, tagged Banks, Mortgage, Stimulus, TARP on December 4, 2009 | 10 Comments »
Washington is abuzz with the idea that Congress, the White House, or both may try to use unspent TARP funds as a way to promote job creation (see, e.g., this WSJ story and this WaPo story). Over the past two days, many reporters have asked me about the mechanics of this idea–can the government really [...]
How Much Did Cash-for-Clunkers Boost Auto Sales?
Posted in Budget, Economy, Macroeconomics, tagged Auto, Economy, Macroeconomics, Recession, Stimulus on September 10, 2009 | 10 Comments »
The busy folks at the Council of Economic Advisers (CEA) released a quartet of studies today, covering the economic impacts of: The stimulus act. The state assistance in the stimulus act. Stimulus efforts in other countries. The Cash-for-Clunkers program. I suspect that other bloggers (not to mention the regular media) will have lots to say [...]
Tracking the Stimulus: Update
Posted in Budget, Data, Economy, Macroeconomics, tagged Budget, Data, Macro, Stimulus on September 4, 2009 | 1 Comment »
Good news: The Recovery.gov website now includes information about the tax components of the stimulus, not just the spending components: According to the chart, an estimated $62.5 billion made its way out the door in tax reductions through the end of August. The corresponding spending data indicate that $88.8 billion in federal spending made its [...]
More Stimulus Spending Than Originally Projected
Posted in Budget, Economy, Macroeconomics, Politics, tagged Budget, CBO, Macroeconomics, Medicaid, OMB, Politics, Stimulus, unemployment on August 25, 2009 | 1 Comment »
Lots of budget news this morning, with the release of the newest projections from the Office of Management and Budget and the Congressional Budget Office. One headline is that spending on the stimulus will be higher than expected. As reported by Lori Montgomery at the Washington Post (ht EconomistMom): The $787 billion economic stimulus package [...]
Tracking the Stimulus
Posted in Budget, Data, Economy, Macroeconomics, tagged Budget, Data, Macroeconomics, Stimulus on August 14, 2009 | 9 Comments »
In her recent speech about the impact of the stimulus effort, Christina Romer, Chair of the President’s Council of Economic Advisers, noted that “as of the end of June, more than $100 billion had been spent.” If you visit the government web site tracking the stimulus (Recovery.gov), however, it will tell you that the government [...]
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