Economic policy reports, blog postings, and media stories of interest:
Speak NC recently released the second installment in its video series exploring the stories behind the state budget. This video looks at school nursing services.
The Economic Policy Institute notes how arguments claiming that regulation causes job losses are overblown.
Given today’s extraordinarily weak labor market, it is imperative that assessments of government policies consider effects on the economy and employment levels. At the same time, however, this concern should not lead to unwarranted efforts to weaken government regulators and regulations.
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The lessons of the Great Recession and of decades of government regulation point in the opposite direction. An emphasis on deregulation can contribute to enormous economic dislocation, and this review of the studies of regulations in place finds little evidence of significant negative effects on employment. Overall, the picture that emerges from this review is a positive one. For decades, regulations have generally and consistently struck a reasonable balance, with their benefits to health, safety, and well-being far exceeding their costs.
Economic policy reports, blog postings, and media stories of interest:
Free Exchange looks at the federal budget compromise and is not impressed.
Everyone involved should be embarrassed. But few journalists seem to think that this absurd sequence of events will in anyway reduce the likelihood of an even greater mess down the road when it comes time to raise the federal debt ceiling. The case for raising the debt ceiling is incredibly strong. For one thing, not raising the debt ceiling could be end up being really bad; the government would have to engage in major gymnastics to avoid a default. For another, not raising the debt ceiling would not address the government’s deficits; deficits and debts are residuals. If you want to actually limit them you have to identify spending that should be cut and taxes that should be raised. What’s more, the leaders of both parties say that the debt ceiling should be raised. Most everyone wants to do something which most everyone agrees should be done.
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And yet, the government will likely be pushed to the edge of crisis. These fights are risky and counterproductive. Sadly, I suspect that the reaction of most of the Washington press corps will be to—once again—get so caught up in the tick-tock of the dramatic showdown that they’ll neglect to point out just how magnificently the elected leadership in Washington is failing its citizenry.
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