Brookings: Topics - U.S. Economic Growth

Rethinking the Way on Infrastructure

Fri, 20 Nov 2009 00:00:00 GMT

With rising concern about the nation’s anemic job numbers, infrastructure has emerged as a centerpiece of a number of proposed “jobs bills.” In a Hill op-ed, Bruce Katz and Robert Puentes point out that infrastructure is not necessarily a cure-all and outline the federal leadership and strategies necessary for successful investment in the way we move goods, people and power.

Evaluating the Economy and the Possibility of a "Double Dip" Recession

Thu, 19 Nov 2009 14:35:00 GMT

The economy is showing some bright spots, but rising unemployment, weak consumer spending and the housing market continue to be concerns. Robert Litan examines the state of the economy and offers insights into job creation and entrepreneurship, the possibility of a “double dip” recession and higher capital requirements for lending institutions.

The Scouting Report Web Chat: Metro Areas and the Uneven Economic Recovery

Wed, 18 Nov 2009 00:00:00 GMT

What stands in the way of recovery? On Wednesday, November 18, Alan Berube and Politico Senior Editor David Mark answered questions in a live web chat about how the nation’s large metropolitan areas—including Washington, DC—have fared in the downturn.

The Scouting Report: Metro Areas and the Uneven Economic Recovery

Wed, 18 Nov 2009 12:30:00 GMT

Event Information:

November 18, 2009, 12:30 PM to 1:30 PM

Innovation’s Conference Committee Hurdle

Mon, 16 Nov 2009 00:00:00 GMT

America continues to grope toward the development of an effective innovation strategy as part of a credible push toward economic reinvention. Mark Muro and Andrew Reamer urge Congress to implement and test an important new strategy - a regional industry clusters program. This program would play a critical role in the nation’s economic recovery and longer-term revitalization at the metropolitan and rural levels ultimately stimulating innovation and job-creation.

How We're Doing: What's Blocking the Recovery

Sun, 15 Nov 2009 00:00:00 GMT

Despite the economy’s expansion in the last quarter, many American workers still lack jobs, the confidence to spend or a home to call their own. A team of Brookings experts began tracking data early this year to assess various dimensions of national and international well-being. The second quarterly "How We’re Doing" index looks at forces that stand in the way of a strong rebound and asks, "where are we going?"

Karen Dynan and Alan Berube Comment on the Second “How We’re Doing” Index

Thu, 12 Nov 2009 13:39:00 GMT

Despite the economy’s expansion last quarter, many American workers still lack jobs, the confidence to spend money or a home to call their own. Brookings scholars have been tracking data on various dimensions of national and international well-being since early this year. Karen Dynan and Alan Berube examine the findings in the second Brookings “How We’re Doing” Index.

Counting the Jobs Produced by the Stimulus

Mon, 09 Nov 2009 00:00:00 GMT

When the stimulus package was enacted last winter, the Obama administration said its goal was to create or save 3.5 million jobs by the end of 2010. Gary Burtless analyzes how closely the administration is coming to achieving that goal so far. He finds that, on the whole, recent reports have understated the net effect of the stimulus program on overall employment by not taking into account the indirect effects of the stimulus on consumer spending and employment.

Feds Pony Up Toward Great Lakes Water ‘Magic’

Wed, 04 Nov 2009 00:00:00 GMT

During a recent visit to Milwaukee, John Austin explored the economic revitalization of the Great Lakes region. Austin writes that these efforts have been given a major boost by President Obama, signing a bill that provided $475 million in Great Lakes cleanup dollars, a down-payment on a long term multi-billion dollar federal-state-local plan to clean water and reboot municipal waste systems. The empirical data shows that the clean up is creating jobs and is an economic engine throughout the Great Lakes region.

Putting the Expected Strength of the Recovery into Historical Context

Fri, 30 Oct 2009 00:00:00 GMT

Yesterday's GDP figures may show that growth has returned to the US economy, but 3.5 percent isn't a strong rebound compared to past recession bounce-backs, writes Karen Dynan. She says the recovery will likely be long, and that means the economy is unlikely to see full employment for many years.

The Outlook for Consumer Spending and the Broader Economic Recovery

Thu, 29 Oct 2009 00:00:00 GMT

How long will the economic recovery take? Karen Dynan testified before the Joint Economic Committee that there is a great deal of uncertainty about the strength and speed of the nation’s recovery, with gradual expansion being the most likely economic scenario. She says that consumer spending is likely to grow modestly over the next few years because of weak income growth, higher saving and lower borrowing. Policymakers have options to bolster the recovery but they should be mindful of the long-run costs, particularly in terms of the budget deficit, she says.

Around the Halls: Is the Recession Over?

Thu, 29 Oct 2009 00:00:00 GMT

The nation appears to have entered a fragile state of recovery, with the worst recession since the 1930s at an end. After four straight quarters of contracting economic activity, the Commerce Department reported this morning that the economy grew in the third quarter of 2009, fueled by government spending on cars and homes. Experts from around the halls of Brookings responded to this news.

Is the American Dream a Myth?

Tue, 20 Oct 2009 08:24:00 GMT

Despite its status as one of the world’s leading economies, the United States is faced with high poverty rates and less economic opportunity than many other affluent countries. Senior Fellows Isabel Sawhill and Ron Haskins, argue that it will take a combination of personal responsibility along with smarter and better-targeted government policies to make the American Dream a reality for children and families now stuck at the bottom.

Housing Sales Flat, Risk Remains

Wed, 30 Sep 2009 14:56:26 GMT

New U.S. home sales were flat in August and existing home sales fell, showing that the housing sector still remains weak. Ted Gayer, co-director of Economic Studies, says there has been some housing stabilization thanks to the Federal Reserve, but that there is still downside risk in the market. Costly tax incentives to encourage homeownership have long-term budget consequences.

MetroDCMonitor: Tracking Economic Recession and Recovery in the Greater Washington Region

Wed, 23 Sep 2009 00:00:00 GMT

Greater Washington Research at Brookings partnered with the Brookings Metropolitan Policy Program to create the first MetroDCMonitor, a quarterly publication tracking indicators of economic recession and recovery in the Washington region and the nation’s 100 largest metropolitan areas. The report finds that the Washington area is weathering the recession comparatively well with a less volatile labor market than other metros and a healthy gross regional product. However, the housing market is weaker, and regional averages mask varying levels of economic distress throughout the area.

Is the Stimulus Working?

Tue, 22 Sep 2009 00:00:00 GMT

William Gale examines whether or not the stimulus is working, concluding that a number of key factors suggest that the stimulus is positively affecting the economy.

Great Lakes Monitor: Tracking Economic Recession and Recovery in the 21 Largest Metropolitan Areas of the Great Lakes Region

Tue, 15 Sep 2009 00:00:00 GMT

A supplement to the MetroMonitor, this first edition of the Great Lakes Monitor examines the 21 largest metros in the Great Lakes region on key indicators of economic performance. It illustrates that, although Great Lakes metros have for decades shared in the struggle to retool their economies, the recession has had highly varied impacts across the region. The findings help define where and how policy makers and regional stakeholders need to focus their energies to help ensure that recovery comes—if slowly—to all parts of this complex area.

MetroMonitor: An Uneven Economic Recovery

Tue, 15 Sep 2009 09:55:33 GMT

Alan Berube, research director of Brookings’ Metropolitan Policy program, says the second MetroMonitor shows an uneven recovery, that economic gains in some regions of the country have been offset by an increase of financial instability in others.

Could a Resurgent Global Economy Relapse into Global Imbalances?

Mon, 14 Sep 2009 00:00:00 GMT

A year after the bankruptcy of Lehman Brothers and the ensuing near collapse of the U.S. financial system, Eswar Prasad reflects on what led to these circumstances and urges for coordinated solutions to avoid further global imbalances.

Metropolitan Las Vegas: Challenges, Opportunities, and a Vision

Tue, 08 Sep 2009 00:00:00 GMT

In speeches delivered at the Las Vegas roll-out of the Brookings Mountain West Initiative Mark Muro and nonresident senior fellow Robert Lang argue that Las Vegas presents an exaggerated version of America’s economic quandary. Muro declares that Las Vegas presents, in extreme form, some of the fundamental questions facing the whole country as it faces a major economic “reset” while Lang contends it can still emerge as America’s next true world city.

The Progress of the Recovery Act: A Discussion with Vice President Joe Biden

Thu, 03 Sep 2009 10:00:00 GMT

Event Information:

September 03, 2009, 10:00 AM to 11:00 AM

On Day 200 of the American Recovery and Renewal Act, Brookings hosted Vice President Joe Biden. As the chief administration official entrusted with the implementation of the stimulus plan, he offered a working perspective on the program’s accomplishments and challenges.

The "New Normal" For the U.S. Economy: What Will It Be?

Tue, 01 Sep 2009 00:00:00 GMT

We are likely to enter a period of new normality marked by lower household debt, higher personal savings, and less consumption as a share of GDP, writes William Galston. Despite these positive trends, we still need a new era of public restraint, not just private thrift. Once economic growth has become self-sustaining and the private sector’s need for capital returns to more normal levels, Congress and the administration will have to turn their attention to the difficult fiscal questions they have long evaded.

Is the U.S. Economy Stabilizing?

Mon, 10 Aug 2009 12:39:31 GMT

Since crashing last October, with a continuing free fall for much of the first part of 2009, the stock market has been gradually climbing back up to healthier levels. Douglas Elliott says the market rally is one sign that the economy is stabilizing – at least in the near term.

Comparing the Recessions in Germany and the United States

Mon, 10 Aug 2009 12:54:35 GMT

The world recession that began in the U.S. is hitting Germany much harder than us, due to a collapse in world trade that has damaged an economy that Germans constantly refer to as “the World Export Champion.” But, Douglas Elliott explains, Germans feel much better about their economic situation than Americans do about ours.

Better Ways to Stimulate than "Cash for Clunkers"

Fri, 07 Aug 2009 11:09:13 GMT

President Obama recently signed a law adding $2 billion to the wildly popular "Cash for Clunkers" program that has given automakers a boost after months of declining sales. Barry Bosworth says despite the program’s quick uptake, there are probably better ways to help stimulate the economy.

Have the Stimulus Programs Failed?

Tue, 04 Aug 2009 00:00:00 GMT

Critics of the government’s stimulus policies claim the surge in personal saving shows the stimulus has not been effective. Gary Burtless examines whether this claim is credible, finding that the presumed failure of the stimulus package is based on a very unrealistic benchmark.

How Obama Compares to the Prior Five Presidents

Tue, 28 Jul 2009 10:07:41 GMT

“How We're Doing: A Composite Index of Global and National Trends” compares President Obama to the prior five presidents at the six-month point and marks a baseline for future quarterly indexes. It reveals that the public is generally pleased with the new president’s performance. Darrell West, vice president and director of Governance Studies, says that maintaining the trust and confidence of the American people could take some doing.

Germany’s Recession vs. America’s: Doing Worse, but Feeling Better

Tue, 28 Jul 2009 00:00:00 GMT

The global recession is damaging Germany twice as much as the nation where it started—the United States. This is due to a collapse in world trade that has hurt Germany’s economy thanks to its reliance on exports as its economic engine. Douglas Elliott is intrigued by the differing reactions between the two nations and why the German public and elites feel much better about their situation than Americans do about theirs.

How We're Doing: A Composite Index of Global and National Trends

Sun, 26 Jul 2009 00:00:00 GMT

Six months into the Obama administration, a Brookings team has launched a composite index that looks back at the prior five presidents at the starting gate and marks a baseline for future quarterly indexes. Since inauguration day, the improvement in the percentage of Americans who think the country is headed in the right direction is nearly as high as after Ronald Reagan’s first half-year in office. Whether Obama can sustain the public trust will depend on how many of these indicators change from quarter to quarter.

Health Care Reform Critical to U.S. Economy

Fri, 17 Jul 2009 12:51:12 GMT

President Obama continues to press Congress to get him a bill to reform the nation’s health care system before the August recess. Alice Rivlin says that the current system needs to be changed for not only for the good of the American people but also for the nation's long-term fiscal health.

Protecting Household Income during the Economic Crisis

Wed, 15 Jul 2009 00:00:00 GMT

As unemployment continues to climb, questions have arisen as to whether the stimulus package is working, how well it was designed and when it will have an impact. Gary Burtless examines its composition, finding that efforts at creating a social safety net and fiscal relief for the states were appropriately targeted and are working.

Economic Fears Lead to a Surge in Household Saving

Tue, 14 Jul 2009 00:00:00 GMT

For many years, economists and other experts have bemoaned American consumers’ unwillingness to save. Now Americans are saving once again, and observers worry that too much saving translates directly into too little consumer demand. Gary Burtless examines whether consumer saving was too low in the past and whether this new saving pattern will continue.

Does the U.S. Economy Need More Stimulus?

Fri, 10 Jul 2009 15:51:11 GMT

Alice Rivlin says the U.S. economy is still struggling even though the climbing unemployment rate is a lagging indicator, but that more spending with a new stimulus package is not the answer.

Here Comes the Next Fiscal Crisis

Wed, 08 Jul 2009 00:00:00 GMT

The U.S. confronts two major economic challenges: the worst recession since the Depression and a growing imbalance between federal spending and revenues that makes our underlying fiscal policy unsustainable. Policymakers face a delicate balancing act between encouraging economic recovery and establishing fiscal sustainability. William Gale and Alan Auerbach say success will take new ideas, some luck and uncharacteristic honesty and resoluteness — from our leaders and the rest of us.

Fed More Concerned About Deflation Than Inflation

Mon, 06 Jul 2009 00:00:00 GMT

Alice Rivlin talks to Bloomberg's Tom Keene about U.S. monetary policy, the budget deficit, unemployment, gross domestic product and health care.

Give the Stimulus a Chance to Work

Mon, 06 Jul 2009 00:00:00 GMT

It is premature to say that the nearly $890 billion stimulus package is not working, purely based on the latest unemployment data. Martin Baily argues that the Obama administration's stimulus package was a good one, even if slow to hit the ground. The good news is that its main impact is still to come, and it is still needed because the recession is far from over.

Faulty Economic Forecasts or Faulty Policy Evaluation? The Difference Is Important

Mon, 06 Jul 2009 00:00:00 GMT

June’s worse-than-expected payroll employment numbers have renewed debate about the success of the Obama administration’s economic stimulus. Do the numbers indicate the administration’s policies are failing? Or do they simply show that the recession is unexpectedly severe and economic forecasting is an inexact science? Gary Burtless analyzes the data.

A New Generation of Federal Housing Policy

Mon, 29 Jun 2009 00:00:00 GMT

Before the Center for Housing Policy’s Learning Conference on State and Local Housing Policy in Chicago, IL, Bruce Katz outlined a new architecture for national housing policy for the US Department of Housing and Urban Development.

California Metros Hit Hard by Recession

Sun, 28 Jun 2009 00:00:00 GMT

Most California cities are experiencing the worst economic downturn since the Depression; most Texas cities are not. Based on a new Brookings analysis on the nation's largest metropolitan areas, Alan Berube explains that “a lot depends on what a metro area's firms and workers do, and what its housing market did in the lead-up to the crash.”

Jobs Report is Good News; U.S. Economy Turning Corner

Fri, 05 Jun 2009 00:00:00 GMT

While the unemployment rate jumped to 9.4 percent, which is the highest rate since 1983, there was actually a tremendous amount of good news in the May 2009 jobs numbers, says Jeffrey Kling. The economy seems to have turned the corner.

Have Job Losses Peaked?

Mon, 11 May 2009 00:00:00 GMT

Gary Burtless discusses the latest unemployment figures, saying that the job market is no longer in free fall. And, Burtless adds, the latest statistics on payroll employment and unemployment insurance claims may be giving us a hint that, while the economy is still shrinking, the pace of decline is slowing.

Transforming America’s Community Colleges: A Federal Policy Proposal To Expand Opportunity and Promote Economic Prosperity

Thu, 07 May 2009 00:00:00 GMT

To renew America’s status as the world’s leader in college attainment, the federal government needs to transform America’s community colleges and equip them for the 21st century. This report outlines a structure for this long-overdue investment and proposes to establish national goals and a related performance measurement system; provide resources to drive college performance toward those goals; and stimulate greater innovation to enhance the quality of sub-baccalaureate education.

Small-Town Big Spending

Mon, 20 Apr 2009 00:00:00 GMT

Bruce Katz and Jennifer Bradley, in this letter to the editor of the New York Times, argue that the fundamental geographic unit of the 21st century is the metropolitan area and that new forms of governance must reflect this shift.

America’s Financial Crisis: The End of an Era

Tue, 14 Apr 2009 00:00:00 GMT

Barry Bosworth and Aaron Flaaen summarize some research on the origins of the financial crisis and trace the evolution of the credit panic that hit in late 2008, its impact on the real economy, and the extraordinary policy actions that have been taken to mitigate the economic losses.

Pikes Peak as “Megapolitan” Space: A Federal Agenda for Prosperity in the Colorado Springs Metro Area

Tue, 07 Apr 2009 00:00:00 GMT

This year's State of the Rockies Symposium at Colorado College focuses on megapolitan areas—combinations of two or more regions into a single economic, social, and urban system. Amy Liu and Mark Muro of the Metro Program, and Robert Lang of Virginia Tech, delivered keynote addresses on how the Pike’s Peak region can leverage the federal role to help it better connect to Denver and the rest of the Front Range “mega" and boost its prosperity.

Strengthening One-Stop Career Centers: Helping More Unemployed Workers Find Jobs and Build Skills

Thu, 02 Apr 2009 00:00:00 GMT

Each year One-Stop Career Centers help millions of unemployed and disadvantaged workers find new jobs and opportunities for advancement. Unfortunately One-Stops are hampered by poor accountability and a lack of adequate funding. Louis S. Jacobson proposes a new approach to One-Stops that would increase cost effectiveness, reduce unemployment and underemployment, and provide a more highly skilled workforce.

Lawrence Summers on the Economic Crisis and Recovery

Fri, 13 Mar 2009 10:30:00 GMT

Event Information:

March 13, 2009, 10:30 AM to 11:30 AM

Responding to the historic economic crisis, White House National Economic Council Director Lawrence H. Summers urged the country to “not exchange a painful recession for another unsustainable expansion.” The country should pursue policies that produce durable and sustainable growth, Summers said at a Brookings forum where he discussed the economic crisis and recovery.

Miracle Mets: How U.S. Metros Propel America's Economy and Might Drive Its Recovery

Wed, 11 Mar 2009 00:00:00 GMT

U.S. metropolitan areas are the under-recognized engines of America’s economy, and the nation must adjust its federal system—and American federalism—to support them so they can lead us back to prosperity, write Bruce Katz, Mark Muro, and Jennifer Bradley in a major framing essay for Democracy: A Journal of Ideas.

In Dire Straits: The Urgent Need to Improve Economic Statistics

Wed, 04 Mar 2009 00:00:00 GMT

Current, accurate economic statistics are crucial to monitoring the fragile condition of the U.S. economy and guiding it out of recession. However, Andrew Reamer indicates, the nation’s statistical system has been deteriorating before our eyes. He outlines steps the White House should take to repair the system.

Brookings Papers on Economic Activity: Spring 2009

Sun, 01 Mar 2009 00:00:00 GMT

Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues.

Brookings Papers on Economic Activity: Fall 2008

Sun, 01 Mar 2009 00:00:00 GMT

Strengthening Our Infrastructure for a Sustainable Future

Sun, 22 Feb 2009 00:00:00 GMT

After years of benign neglect, the nation’s crumbling infrastructure is getting its public hearing. Bruce Katz delivered a major speech during a special session of the National Governors Association Winter Meeting dedicated to infrastructure financing, accountability and sustainability. He urged the critical importance of policy reform in shifting the infrastructure conversation from one focused on spending, to one focused on investing.

Fixing the Financial System

Fri, 20 Feb 2009 10:20:10 GMT

As policymakers and the public have been focused on the stimulus and the bank bailout, there remain tough policy questions about how to get at the root cause of the current economic problems – how to fix the financial system for the long-term. Director of the Initiative on Business and Public Policy Martin Baily discusses Fixing Finance: A Roadmap for Reform, laying out the long-term issues.

Bank Toxic Assets: What Role for the Taxpayer?

Fri, 20 Feb 2009 00:00:00 GMT

Critical decisions need to be made soon on the administration’s plan to create a public/private partnership to buy “toxic assets” from banks, including what the proper financial role of the taxpayer should be. Douglas Elliott argues that practical imperatives will push the government principally into the role of providing cheap financing and issuing guarantees of floor values for the securities, with little emphasis on buying assets directly as a co-investor. He believes the public should take the guarantor role, because it minimizes the potential downside for the taxpayer, although he acknowledges this is a subjective call based on tolerance for risk.

New Approaches to Addressing Long-Term Fiscal Responsibility

Thu, 19 Feb 2009 00:00:00 GMT

A bipartisan group of budget experts from 7 different organizations view President Obama’s Fiscal Responsibility summit as a good first step to addressing the enormous long-term fiscal problem facing the United States, but urge him to lead a major public engagement effort – beyond a one-day summit – to inform Americans of the scale and nature of the long-term fiscal crisis, explain the consequences of inaction and discuss the options for solving the problem. The effort should include the creation of an independent and truly bipartisan commission or other mechanism capable of bringing about decisive action that has broad public support.

China's Short-term and Long-term Economic Goals and Prospects

Tue, 17 Feb 2009 00:00:00 GMT

As the economies of the U.S. and China both struggle under the global recession, what is the future of the U.S.-China economic relationship and how will both countries respond to invigorate economic growth? In testimony to the U.S.-China Economic and Security Review Commission, Wing Thye Woo details challenges for both economies and proposes effective policy responses.

The Effect of the Crisis on the U.S.-China Economic Relationship

Tue, 17 Feb 2009 00:00:00 GMT

As the economies of the U.S. and China both struggle under the global recession, what is the future of the U.S.-China economic relationship and how will both countries respond to invigorate economic growth? In testimony to the U.S.-China Economic and Security Review Commission, Eswar Prasad details challenges for both economies and proposes effective policy responses.

Fixing Finance: A Roadmap for Reform

Mon, 16 Feb 2009 00:00:00 GMT

As policy-makers and the public have been focused on the stimulus and the bank bailout, tough policy questions about how to get at the root cause of the current economic problems remain—how to fix the financial system for the long-term. Martin Baily and Robert Litan lay out a roadmap for reform, one that harnesses the forces of market discipline that were ignored in the run-up to the current crisis, which they say can and must be retained after the need for massive short-run government intervention has passed.

Strengthening American Competitiveness: Regaining Our Competitive Edge

Thu, 12 Feb 2009 00:00:00 GMT

As U.S. policy-makers focus on how to strengthen the U.S. economy in the midst of the financial crisis, Brookings competitiveness experts stress the need for a longer-term view with policy priorities focused on how to rebuild American competitiveness through investments in people, infrastructure, ideas and green transformation.

The White House Office of Urban Policy: Form and Function

Thu, 12 Feb 2009 00:00:00 GMT

Before a housing conference at the NYU School of law, and prior to the president’s executive order creating the office, Bruce Katz outlined his vision of the function and role of a White House Office of Urban Affairs. “The new office has a powerful bully pulpit to set a vision for how federal policy can unleash the potential of America’s urban and metropolitan areas given their changing role and function,” Katz told conferees.

Geithner’s Multitrillion Dollar Bailout

Wed, 11 Feb 2009 00:00:00 GMT

Treasury Secretary Timothy Geithner’s $2.5 trillion bailout plan would create a public-private fund to buy up hard-to-sell assets from banks, inject more capital into banks and use Treasury and Fed money to finance up to $1 trillion in assets backed by consumer, auto and small business loans. Is this plan sufficient? Will it stabilize the financial system? Doug Elliott and other experts discuss these questions in a op-ed piece in the New York Times.

The Administration’s New Financial Rescue Plan

Tue, 10 Feb 2009 00:00:00 GMT

Doug Elliott critiques the Obama administration’s new rescue plan for the banking sector announced on February 10, saying he agrees on the need for significant new capital injections, despite their political unpopularity, but argues that it is not at all clear that the proposed “bad bank” could be designed in a way that would make it better than simply guaranteeing toxic assets on the books of the banks. Elliott writes that the devil will indeed be in the details of the construction of the bad bank and the pricing mechanisms.

Poverty and Economic Stimulus

Tue, 10 Feb 2009 00:00:00 GMT

Rebecca M. Blank And Mark H. Greenberg agree that while in the short run, economic need is rising rapidly and we need to address the short-run problems as well as think about the long-term reforms, and that the parts of the recovery plan that are directed to low-income and unemployed families are good economics and good social policy. They say that it would only be the beginning of any serious effort to deal with poverty in America.

Keep Politics Away from the Promise of Family Planning

Thu, 05 Feb 2009 00:00:00 GMT

Just before the House approved its version of the stimulus bill, it was stripped of a controversial provision that would have given states the option to expand a Medicaid-funded program subsidizing family planning services for low-income women. Adam Thomas and Isabel Sawhill agree that the family planning provision was rightly stripped from the package, but argue that it is an important program that has the potential to limit the number of unplanned pregnancies, reduce the incidence of abortion, improve child well-being and actually save money in the long-run.

Buy American?: Global Considerations for the Proposed Stimulus Plan Clause

Tue, 03 Feb 2009 00:00:00 GMT

The final version of the fiscal stimulus plan weakened the "Buy American" provision requiring the use of only U.S. iron and steel in construction work funded by the bill. Nevertheless, business groups continue to criticize the provision. In a new Q&A, Eswar Prasad discusses global concerns.

Stimulus for America’s Community Colleges

Tue, 03 Feb 2009 00:00:00 GMT

Enrollment in community colleges is surging, driven by a tough economy and increasing skills requirements for gainful employment. Sarah Goldrick-Rab and Alan Berube explain that this environment, as well as longer-term economic growth imperatives, calls for a focused federal commitment to community colleges in order to boost educational attainment.

Evaluating Micro-Survey Estimates of Wealth and Saving

Sat, 31 Jan 2009 00:00:00 GMT

Barry Bosworth and Rosanna Smart presents an overview of changes in household wealth accumulation and saving using wealth data from three micro-level surveys. They provide comparisons to the macroeconomic estimates of wealth accumulation and saving, explore problems in constructing household-level valuations of wealth, and assess the value of using household-level datasets to examine wealth accumulation and saving behavior in the United States.

What’s Missing in the Stimulus Plan

Wed, 28 Jan 2009 00:00:00 GMT

The $825 billion economic recovery package developed by President Obama and the Congressional Democrats includes new spending on education, health care, unemployment benefits and a vast array of public works projects to create jobs, with tax cuts making up just under 40 percent of the package. Much of the spending is on existing programs, and intended to speed money out the door. Bill Gale discusses what's missing.

Budget Policy Challenges

Tue, 27 Jan 2009 00:00:00 GMT

In congressional testimony, Alice Rivlin discusses the stimulus bill and the next steps required to get the economy back on track. Before the current crisis, she argues, Americans were consuming and borrowing too much, while saving too little. If recovery from this recession is to be solid and sustainable, we must transform ourselves into a society that consumes less, saves more and finances a larger fraction of its investment with domestic saving, rather than foreign borrowing.

Lifting Our Economy

Fri, 23 Jan 2009 00:00:00 GMT

Jason Bordoff argues that U.S. economic performance should be measured by how well economic growth raises the living standards of all Americans. He says that with the right policies and long-term investments we can achieve more broadly-shared prosperity.

President Obama's Agenda for Cities

Thu, 22 Jan 2009 00:00:00 GMT

Barack Obama has promised to make urban issues a central part of his presidential agenda. In this broadcast, Amy Liu talks to Kojo Nnamdi and others about strategies for reinvesting in our nation’s urban areas.

Short and Long-Run Fiscal Challenges

Wed, 21 Jan 2009 00:00:00 GMT

In testimony to the Senate Budget Committee, Alice Rivlin argued that the future health of the nation’s economy depends on whether policy-makers can focus on two imperatives at once: the need to take immediate action to mitigate the impact of the recession; and the need to restore long-term fiscal responsibility and reassure our creditors that we are getting our fiscal house in order.

Banking Sector, Bailout Reform May Top Obama Economic Agenda

Wed, 21 Jan 2009 00:00:00 GMT

Treasury nominee Timothy Geithner went before a Senate panel Wednesday, answering questions on the financial crisis as well as his tax payment controversy. Martin Baily and other analysts mull what's ahead for Obama's economic agenda on NewsHour.

Infrastructure: What and How?

Tue, 13 Jan 2009 00:00:00 GMT

Clifford Winston join other experts in an important and timely discussion of something that will affect both the immediate economic progress of the U.S. and our economic viability for generations to come: infrastructure, on NewTalk moderated by Amy Resnick.

The Stimulus Package Should Help Workers Get Retrained

Thu, 08 Jan 2009 00:00:00 GMT

Although many ideas have been floated for the incoming administration’s stimulus package, Gary Burtless urges that funds to be used for the nation’s worker training system, which can help equip unemployed and underemployed workers find good jobs when the economy begins to recover and can reduce the number of jobless workers who are looking for work.

Refuel Economy with Cash for Old Cars

Tue, 06 Jan 2009 00:00:00 GMT

The incoming administration needs to act quickly to stimulate our ailing economy. Jason Bordoff suggests that one way to stimulate the economy and prevent the collapse of the auto industry, tackle climate change and promote oil independence, is to offer “cash for clunkers”—drivers would be given vouchers toward the purchase of newer, more fuel-efficient vehicles, with the old vehicles scrapped to get them off the road.

Rethinking “Energy Independence”

Mon, 29 Dec 2008 00:00:00 GMT

Political leaders repeatedly point out that our current addiction to foreign oil is a matter of national security. In a Brookings paper, Pietro Nivola challenges the assumption that the less oil the U.S. buys from abroad, the more insulated our economy will be from vagaries of the international oil market.

"Stimulus" Doesn't Have to Mean Pork

Sun, 28 Dec 2008 00:00:00 GMT

In order for Barack Obama to truly stimulate the nation’s economy through infrastructure spending, Clifford Winston argues that he needs to wring wasteful spending not just out of pork projects, but out of all of his transportation expenditures. Unlike the bailout of the financial system, sound economic guidelines exist to enable investments to generate large social returns.

The Economy Needs a Shot In the Arm

Sun, 21 Dec 2008 00:00:00 GMT

Jeffrey R. Kling and William J. Congdon agree with the Obama stimulus proposal that increasing expenditures and decreasing taxes can stimulate the economy, but that spending on “shovel ready” infrastructure and human capital to diversify the targets of stimulus dollars will expedite the process while keeping waste to a minimum.

Lame Duck Meets Hobbled Panda: The China-U.S. Strategic Economic Dialogue

Thu, 04 Dec 2008 00:00:00 GMT

As the U.S. and China gather in Beijing for their twice yearly Strategic Economic Dialogue meetings, Eswar Prasad examines the U.S.-China economic relationship, key issues and the potential future of the economic dialogue that was created by Secretary Paulson.

Is Big Labor Killing the Big Three Automakers?

Thu, 04 Dec 2008 00:00:00 GMT

U.S. automakers say the high cost of labor here gives overseas companies an unfair advantage. How much of a problem is Big Labor for Detroit? How much of an advantage—if at all—do Honda, Toyota and others have over U.S. companies? Gary Burtless tackles these and other questions surrounding the big three bailout in an online debate.

America Without its Automakers

Tue, 02 Dec 2008 00:00:00 GMT

What's so bad about letting Ford, Chrysler and GM slip into bankruptcy? Gary Burtless and Daniel J. Ikenson of the Cato Institute debated bailing out the Big Three.

State of the Economy

Mon, 01 Dec 2008 00:00:00 GMT

Jeffery Kling, Daniel Mitchell, Sharon Parrott, and host Ian Mylchreest discuss on KNPR Nevada Public Radio the Federal Reserve's latest plan to infuse another eight billion dollars in to the economy to help people borrow money for car loans, tuition and new homes and what effect this will have on the nation and the region.

President-elect Obama's Economic Team

Tue, 25 Nov 2008 00:00:00 GMT

In an interview on "The Diane Rehm Show," William Gale, Douglas Holtz-Eakin and Joseph Stiglitz discuss some of the elements of an expanded economic package and its overall impact on the U.S. economy.

Paths to Economic Recovery

Mon, 24 Nov 2008 00:00:00 GMT

Congress has punted to next year the prospects for a stimulus package with an infrastructure investment that could provide more jobs, a stronger transportation network and a better-running economy. Bruce Katz and William Gale say the clock stopped on legislative action, but President-elect Obama is directing his team to come up with an economic recovery plan that addresses critical infrastructure issues while creating more jobs and stimulating the economy.

The Sun Corridor as Mountain Mega: One of America's Newest Metropolitan Places and a Federal Partnership to Help It Prosper

Fri, 21 Nov 2008 08:00:00 GMT

Event Information:

November 21, 2008, 8:00 AM to 11:30 AM

The authors of the report, “Mountain Megas: America’s Newest Metropolitan Places and a Federal Partnership to Help Them Prosper” held a forum in Phoenix to discuss population growth and economic/demographic change in America’s Intermountain West.

Arizona Needs to get in the Federal Game

Thu, 20 Nov 2008 00:00:00 GMT

Mark Muro and Robert Lang in a recent Arizona Republic column discuss the major change of management in Washington, and urge “megapolitan” areas of the Intermountain West to better organize their energies and consider how to amplify their voice in national affairs as federal policy responses are renegotiated.

Can Obama Save the U.S. Economy?

Fri, 07 Nov 2008 00:00:00 GMT

Senator Barack Obama made history this week after being elected America's next president. Jeffrey Kling from Brookings Institution considers what efforts Obama will take to save the ailing US economy and unstable financial industry.

Obama's Economic Priorities

Fri, 07 Nov 2008 17:07:14 GMT

President-elect Obama held his first press conference today, focusing on the economy. Kling commented on Obama’s address saying the nation needs two rounds of stimulus to kick-start the economy—the first to stem recent job losses and help homeowners, and then to focus on longer-term growth.

Path to Prosperity

Thu, 06 Nov 2008 00:00:00 GMT

Today, too many Americans are not fully sharing in our nation’s prosperity. Real median wages have stagnated, income inequality has increased, and changes in the economy that have brought benefits have also brought new risks and insecurities. In response to these challenges, our nation needs to act now on three fronts. First, our nation must make the right long-term investments to promote economic growth that is both strong and sustainable. Second, it is necessary to put in place economic policies that will better achieve broad-based participation in that growth. Third, for growth to be sustainable, it is necessary to restore sound fiscal policy, moving on a multiyear path to a sustainable fiscal position. This paper elaborates on these economic challenges.

Megapolitan Las Vegas: One of America’s Newest Metropolitan Places and a Federal Partnership to Help It Prosper

Tue, 28 Oct 2008 08:00:00 GMT

Event Information:

October 28, 2008, 8:00 AM to 12:00 PM

On Tuesday, October 28, the authors of the report, “Mountain Megas: America’s Newest Metropolitan Places and a Federal Partnership to Help Them Prosper” held a forum in Las Vegas to discuss population growth and economic/demographic change in America’s Intermountain West.

Main Street Needs a New Stimulus

Tue, 21 Oct 2008 00:00:00 GMT

Martin Baily recommends an immediate stimulus package of $200 billion, with preparation of an additional $100 billion to be triggered if unemployment goes over 7.5 percent to prevent the U.S. economy from trending further into the danger zone.

Ideas for a Second Stimulus

Mon, 20 Oct 2008 00:00:00 GMT

In testimony before the House Budget Committee, Martin Baily says we need a second fiscal stimulus package to avoid a deep recession. He advocates for an immediate infusion of $200 billion, with a second $100 billion released if unemployment hits 7.5 percent. The package should include help for homeowners, tax rebates for families and aid to states and localities.

Ohio must Build on its Strengths by Customizing Development Strategies for Each Region

Sun, 19 Oct 2008 00:00:00 GMT

Bruce Katz and Metro partner Lavea Brachman co-authored an op-ed appearing in the Cleveland Plain-Dealer stemming from the success of the “Ohio Summit” this past September. In it, the two explain the need for a change in the discourse about the national economy.

Changing the Game: The Federal Role in Supporting 21st Century Educational Innovation

Thu, 16 Oct 2008 00:00:00 GMT

To resolve dramatic disparities in educational achievement and ensure future American workers are globally competitive, the federal government needs to change the game by catalyzing a culture of innovation and entrepreneurship in public education. A new office within the Department of Education should partner with the private sector, philanthropy, and state/local governments to scale up successful educational entrepreneurs and seed transformative educational innovations.

Western Perspective: Mountain Megas

Tue, 14 Oct 2008 00:00:00 GMT

Mark Muro and Robert Lang in a recent Headwaters News column bring to attention the “New American Heartland” — the Intermountain West, noting that the region's signature issues increasingly reflect the nation's, whether it be road and rail infrastructure, job quality, immigration, or energy.

Top 10 Global Economic Challenges Facing America's 44th President

Fri, 10 Oct 2008 00:00:00 GMT

As President-Elect Obama prepares to lead the United States, what are the top global economic challenges facing the new president and his advisors and how should the new administration address them? A new report by Brookings global economic and development experts ranks the top 10 issues and details specific ideas for how to tackle the toughest challenges.

The Efficacy of Information Policy

Tue, 30 Sep 2008 00:00:00 GMT

The book Archon Fung, Mary Graham, and David Weil’s Full Disclosure: The Perils and Promise of Transparency provides a thorough discussion of governmentmandated disclosure policies. Clifford Winston uses their book to frame an empirical assessment of whether these—and other information policies—have significantly reduced the costs to consumers created by imperfect information.

Do Central Banks Have an Exit Strategy?

Mon, 15 Sep 2008 00:00:00 GMT

A year into the global financial crisis, several key central banks remain exposed to their countries’ shaky private financial sectors. In a new op-ed, Ken Rogoff explains why central banks must pull the plug sooner or later and how banks should approach regulation and view the market.

Can America Still Lead in the Global Economy?

Sun, 31 Aug 2008 00:00:00 GMT

The need for U.S. economic leadership continues despite a global financial crisis, and new and emerging economic powers. But while the need for U.S. leadership in the global economy is clear, the capacity is less so. In a paper prepared for the Aspen Strategy Group in August 2008, Lael Brainard and David Lipton explore the changing context for US international economic leadership, review economic goals, and discuss the adequacy of the instruments available for pursuing those goals.