Unlike Social Security, projected Medicare spending will dramatically outpace projected revenues in the next few decades. If nothing is done, Medicare will run huge deficits. Importantly, these projected deficits are not primarily driven by the shifting demographics of an aging population; rather, they are almost entirely driven by rapid growth in healthcare costs. In 2007,… Continue reading The reality of Medicare
The Economist brilliantly refutes itself in the same article
The Economist floated out a monstrosity today titled Paul Ryan: The man with the plan. Any article that suggests Paul Ryan has a plan is immediately discredited. Most such articles just claim he does, provides some vague praise, and then moves on. It takes a publication as sophisticated as The Economist to claim Ryan has… Continue reading The Economist brilliantly refutes itself in the same article
The biggest enemy of poverty reduction
The New York Times ran a long and very good article on poverty. In it, they quote Education Secretary Arne Duncan: “What I fundamentally believe — and what the president believes,” Duncan told me, “is that the only way to end poverty is through education.” This thinking is the biggest enemy of poverty reduction. Poor… Continue reading The biggest enemy of poverty reduction
What sort of people actually lost jobs during the recession?
A new report from Georgetown researchers details the effect of the recent recession and recovery on jobs, broken up by educational attainment. The New York Times and the Washington Post have coverage. Relying on Census data, the researchers figure out how many jobs were lost or gained during the recession and recovery for individuals with… Continue reading What sort of people actually lost jobs during the recession?
Paul Ryan’s plan in brief
I have been keeping my eye open for the best brief summary of Ryan’s budget plan. After going through dozens of posts with a combined thousands of graphs, I have settled on this piece from Paul Krugman. An excerpt: Ryan basically proposes three big things: slashing Medicaid, cutting taxes on corporations and high-income people, and… Continue reading Paul Ryan’s plan in brief