Tags » Congressional Budget Office

China continues to raise its minimum wage—but employment could be suffering

The minimum wage is the subject of a long-running and contentious debate in economics. One side of the debate says employers react to the higher costs by simply employing fewer people, meaning a minimum wage makes low-skilled workers worse off. 493 more words

Obamacare Cost Cutting: Rumor or Reality?

Over the past 50 years, healthcare costs have risen to unprecedented levels.  With expenses approaching 18% GDP, the federal government thought it necessary to intervene.  The hope was and is that the growth of healthcare costs can be curbed and that, in doing so, federal expenditures on Medicare would decrease and contribute less to the federal deficit. 556 more words

Politics

Paul Krugman's defense of President Obama

I started reading Paul Krugman’s column in the New York Times during the Bush-Cheney administration, and quickly came to respect him for his incisive and fearless criticism of the administration’s policies.  3,009 more words

Politics

CBO -- Characteristics of the Long-Term Unemployed in March 2007 and March 2014

Characteristics of the Long-Term Unemployed in March 2007 and March 2014
Source: Congressional Budget Office

House Minority Leader Nancy Pelosi has asked the CBO for information about the characteristics of people who have been unemployed for a long time.

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Business And Economics

U.S. budget deficit falls to $486 billion for 2014

The U.S. budget deficit fell by nearly a third during fiscal 2014 to $486 billion as federal revenues grew far faster than spending, the Congressional Budget Office said on Wednesday. 49 more words

Finance