Media

New York Times (NAT)

The Excel Depression

PAUL KRUGMAN

4-18-13

For the truth is that Reinhart-Rogoff faced substantial criticism from the start, and the controversy grew over time. As soon as the paper was released, many economists pointed out that a negative correlation between debt and economic performance need not mean that high debt causes low growth. It could just as easily be the other way around, with poor economic performance leading to high debt. Indeed, that’s obviously the case for Japan, which went deep into debt only after its growth collapsed in the early 1990s.

CEPR (DC)

Quick Thoughts on Reinhart and Rogoff's Response

Dean Baker

4-16-13

As far as turning to other work, these papers should be examined. Publishing papers complaining about government debt loads is clearly a growth industry in an otherwise weak economy. But these papers have absolutely zero relevance to the HAP's critique of R&R's original paper, which has in fact played an enormous role in policy debates. HAP can hardly be criticized for focusing on the leading paper in this framework and not addressing the derivative versions.

SSW/SSSC mention

The Nation (NAT)

Why Obama’s Chained-CPI “Protections” Aren’t Good Enough

George Zornick

4-15-13

Alas, the same is true with Obama’s proposal. The folks at Social Security Works have crunched the specific numbers the White House has proposed and kindly shared them with The Nation. As you can see, seniors still have their benefits cut rather dramatically under Chained-CPI:

SSW/SSSC mention

New York Times (NAT)

Obama Budget Is Dismissed by G.O.P. and Attacked by Left

4-5-13

“Evidently the president either does not understand or does not care how critically important Social Security and Medicare are, not just to seniors but to middle-aged and younger workers for whom these programs are likely to be even more crucial,” said Eric Kingson, co-chair of the Strengthen Social Security Coalition.

New York Times (NAT)

Getting Back More From Medicare, Less From Social Security

4-3-13

Analysts say that Medicare beneficiaries on average pay about $1 for every $3 in benefits, and the gap is projected to grow. Social Security beneficiaries who retired 20 to 40 years ago received more in benefits than they paid in taxes, but for those retiring in 2010, the amount was about even. Younger generations are expected to pay more in Social Security taxes than they receive in lifetime benefits, based on average life expectancies.

SSW/SSSC mention

Sheridan Media (WY)

Cut in Social Security Would Negatively Impact Wyoming's Economy

Ron Richter

3-28-13

Communications Associate Lacy Crawford with Social Security Works says that the state's rural communities and small businesses would take the biggest hit.  Crawford says that Congress should focus on closing offshore tax loopholes that allow the wealthy and large corporations to avoid paying taxes by sheltering their income in offshore tax havens.