League of Women Voters October 2012 final
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League of Women Voters October 2012 final
- 1. Budgets: Austerity vs. Investment Taggert J. Brooks, PhD Chair and Associate Professor of Economics University of Wisconsin-La Crosse
- 3. Long run versus Short run
- 4. Short run
- 5. Postwar Recessions (1946-2008): Cumulative 8 Decline from NBER Peak (pct) 1990 6 4 2001 2 0 -2 2007 -4 -6 -8 1 13 25 37 49 61
- 6. 2% Change in GDP since Q1 2008 US Germany 0% France -2% -4% Spain -6% Italy -8% 2008Q1 2010Q1 2012Q1
- 9. Long run
- 14. Growth in Real GDP/capita, 1300-2100
- 17. Government Spending Defense Infrastructure Education Transfers Health Other?
- 18. 0 5 10 15 20 25 30 Medicare and Medicaid Defense Socail Security Safety Net Benefits for Vets Interest Infrastructure Education Research International Other Federal Spending as % of Budget
- 20. Present
- 21. Actual Budget Balance with 5 Year OMB Forecasts 5.0 0.0 -5.0 -10.0 -15.0 1980 1985 1990 1995 2000 2005 2010 2015
- 22. Budget Balance as Percentage of GDP 10.0 5.0 0.0 -5.0 -10.0 -15.0 -20.0 -25.0 Year Democrats -30.0 -35.0 1930 1940 1950 1960 1970 1980 1990 2000
- 23. 0 50 100 150 200 Japan Greece Italy Belgium Portugal United Kingdom Iceland Hungary France Austria United States Ireland Netherlands Spain Poland Germany Turkey Finland Denmark Slovak Republic Czech Republic Canada Sweden Korea New Zealand Mexico Norway Switzerland Luxembourg Australia 2010 Debt to GDP Ratio
- 24. Top Marginal Tax Rate 100 Democrats Republican 75 s 50 25 0 1913 1923 1933 1943 1953 1963 1973 1983 1993 2003 2013
- 25. 0 10 20 30 40 50 60 Denmark Sweden Belgium France Finland Norway Spain United Kingdom Israel Germany Canada Poland Greece Switzerland Japan United States Turkey Korea Chile Mexico OECD Ave Taxes as Percent of GDP 2005
- 26. Future
- 27. Means-Tested Transfers AFDC/TANF (Temporary Assistance to Needy Families) CTC (child tax credit) EITC (earned income tax credit) Medicaid SSI (Supplemental Security Income), WIC (The Special Supplemental Nutrition Program for Women, Infants, and Children) Food Stamps, General Assistance, Housing Assistance, Free and Reduced Lunches
- 28. Social Insurance Transfers SSDI (disability insurance), Medicare, Social Security Retirement, UI (unemployment insurance), Veterans Benefits, WC (workers compensation)
- 29. Transfers to All Medicare Social Security Retirement
- 30. Percent of GDP 30 Ryan’s Cap Federal Spending 20 10 Medicare and Medicaid Spending Only 0 1960 1980 2000 2020 2040 2060 2080
- 31. Spending as a % of GDP 50 Total Fed 40 Government Spending 30 Ryan’s Cap 20 10 Medicare and Medicaid 0 1960 1980 2000 2020 2040 2060 2080
- 33. Top 1% of Income Earners Louis D. Brandeis Share of Total Income – U.S. 20.0 “We may have democracy, or we 15.0 may have wealth concentrated in the hands of a few, but we 10.0 cannot have both.” 5.0 - 1913 1937 1961 1985 2009
- 34. Louis D. Brandeis “We may have democracy, or we may have wealth concentrated in the hands of a few, but we cannot have both.”
- 36. Thanks. Questions? Taggert J. Brooks, PhD Associate Professor of Economics University of Wisconsin-La Crosse
Hinweis der Redaktion
- There is a tradeoff between long run and short run. The degree to which there is a tradeoff and what is exactly traded off is a matter of some contention.
- There is a tradeoff between long run and short run. The degree to which there is a tradeoff and what is exactly traded off is a matter of some contention.
- http://www.flickr.com/photos/border0/5574007369/sizes/o/in/photostream/
- There is a tradeoff between long run and short run. The degree to which there is a tradeoff and what is exactly traded off is a matter of some contention.
- http://www.voxeu.org/article/us-economic-growth-over
- http://www.voxeu.org/article/us-economic-growth-over
- http://www.flickr.com/photos/bakatanuki/5457488729/sizes/l/A thought experiment. Private Trash collection versus public trash collection.
- There is a tradeoff between long run and short run. The degree to which there is a tradeoff and what is exactly traded off is a matter of some contention.
- There is a tradeoff between long run and short run. The degree to which there is a tradeoff and what is exactly traded off is a matter of some contention.
- There is a tradeoff between long run and short run. The degree to which there is a tradeoff and what is exactly traded off is a matter of some contention.
- Programs are AFDC/TANF (Temporary Assistance to Needy Families), CTC (child tax credit), DI (disability insurance), EITC (earned income tax credit), Food Stamps, Foster Family, General Assistance, Housing Assistance, Medicaid, Medicare, Other Welfare, Social Security, SSI (Supplemental Security Income), UI (unemployment insurance), Veterans Benefits, WC (workers compensation), and WIC (The Special Supplemental Nutrition Program for Women, Infants, and Children).Social SecurityMedicareSSIUIRailroad Employees AFDCChild CareTitle XX Social Services Block GrantChild ProtectionSocial Welfare in the TerritoriesPension Benefit Guaranty Corp.Food StampsMedicaidS-CHIPHousing AssistanceSchool Lunch and BreakfastsWIC for familiesChild and Adult Care Workforce Investment ActHead StartLI-HEAP
- Programs are AFDC/TANF (Temporary Assistance to Needy Families), CTC (child tax credit), DI (disability insurance), EITC (earned income tax credit), Food Stamps, Foster Family, General Assistance, Housing Assistance, Medicaid, Medicare, Other Welfare, Social Security, SSI (Supplemental Security Income), UI (unemployment insurance), Veterans Benefits, WC (workers compensation), and WIC (The Special Supplemental Nutrition Program for Women, Infants, and Children).Social SecurityMedicareSSIUIRailroad Employees AFDCChild CareTitle XX Social Services Block GrantChild ProtectionSocial Welfare in the TerritoriesPension Benefit Guaranty Corp.Food StampsMedicaidS-CHIPHousing AssistanceSchool Lunch and BreakfastsWIC for familiesChild and Adult Care Workforce Investment ActHead StartLI-HEAP
- Rising Life expectancy has meant transfers to all have increased but there effectiveness for poverty reduction has not worked.
- CBO projections
- http://www.nytimes.com/interactive/2012/08/15/business/fewer-government-resources.html
- Lane Kenworthy