From 2016 through 2020, wages crept upward at thousands of McDonald’s in the U.S. The McDonald’s response, though, is not quite what economists would have expected. The (Surprising) Minimum Wage Impact Traditional economic theory suggests that employers respond to an…
How to Pay For a $1.9 Trillion Package
Through massive pandemic aid, the 2020 CARES Act ballooned the federal deficit. With spending far exceeding revenue, the difference was $2.8 trillion: Now, President-elect Biden has proposed a new $1.9 trillion relief package. It includes payments to Americans who…
A Single-Payer Primer From the CBO
In a new report, the Congressional Budget Office (CBO) presents a menu of choices that we will need to consider if we want single payer healthcare.
Six Facts We Need to Know About the Federal Budget
The six facts that we need to know about the federal budget include spending, taxes, borrowing, and where we could wind up.
When the Economy Is Like the Weather
Economic forecasting can frequently be inaccurate because of changing numbers and human bias or, as Yogi Berra reputedly said, “It’s tough to make predictions, especially about the future.”
Understanding a New Tax Issue
With the House requiring dynamic scoring of tax legislation from the CBO, the bigger tax debate resurfaces on how much redistribution and spending.
A Surprising Connection Between Tennessee and the Affordable Care Act
There is probably a tradeoff between health insurance and the demand for jobs. During 2005 in Tennessee, the demand for jobs increased when 170,000 people lost their Medicaid health insurance coverage. Researchers call that jobs/health insurance tie, the “employment lock.” Looking at…