Statements Archive
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Statement: Robert Greenstein, Executive Director, on the New Senate Health Reform Bill
November 19, 2009
The new Senate health bill marks a major step toward comprehensive, fiscally responsible health reform. It would extend health insurance coverage to 31 million Americans who lack it, reduce the budget deficit, and put long-term downward pressure on health care costs. The bill would reduce deficits by an estimated $130 billion over the 2010-2019 period and by … -
Statement: Chad Stone, Chief Economist, on the October Employment Report
November 6, 2009
Today’s jobs report shows that although the economy turned up in the third quarter, the labor market did not. The unemployment rate crossed into double digits in October, and payrolls shrank for the 22nd straight month. The economy is in a very deep hole and faces a long climb back to full … -
Statement: Iris Lav, Senior Advisor, on Defeat of “TABOR” Initiatives In Maine and Washington
November 4, 2009
Yesterday’s votes in Maine and Washington show clearly that TABOR’s crippling and arbitrary spending limits remain unpopular around the country. Anti-government groups have made serious efforts to enact TABORs in 20 states since 2004 — and they have failed every time. … -
Statement: Robert Greenstein, Executive Director, on the Senate Finance Committee’s Health Reform Plan
October 13, 2009
The Senate Finance Committee’s approval of an ambitious health reform plan marks a major step toward enactment of legislation to extend health care to tens of millions of people who lack it, strengthen insurance protections for millions more who are underinsured or face exorbitant charges, and begin to address the nation’s most serious … -
Statement: Chad Stone, Chief Economist, on the September Employment Report
October 2, 2009
Today’s jobs report shows that employers will need stronger evidence of a reviving economy before they will start adding workers to their payrolls. Employers shed jobs for the 21st straight month in September (see graph) and the unemployment rate edged up to 9.8 percent. … -
Statement: Robert Greenstein, Executive Director, on Chairman Baucus’ Health Reform Plan
September 16, 2009
Senator Baucus’ plan is a major contribution to the health care debate, as it would extend coverage to tens of millions of uninsured Americans and improve insurance for millions of Americans who already have coverage — through reforms that deal with matters such as pre-existing conditions — and do so while fully offsetting the costs, … -
Statement: Greenstein on Census’ 2008 Health Insurance and Poverty Data
September 10, 2009
Today’s grim Census Bureau report shows the nation lost substantial ground in 2008 on poverty, median income, and the number of people who are uninsured. Several aspects of the Census report stand out. The number of people living in poverty jumped by 2.6 million to 39.8 million — the highest since 1960. The poverty rate … -
Statement: Chad Stone, Chief Economist, on the August Employment Report
September 4, 2009
Today’s employment report shows little evidence that the emerging economic recovery is reviving the job market. Although job losses continued to moderate in August, the percentage of Americans with a job reached its lowest level since 1984 (See figure). Economic activity seems to be increasing, but employers remain reluctant to hire, … -
Statement: James R. Horney, Director of Federal Fiscal Policy, on the Deficit Reports by the Office of Management and Budget and the Congressional Budget Office
August 25, 2009
Today’s budget reports provide no evidence that federal budget policies over the last year have failed or that a drastic new direction in short-term fiscal policy is needed. While they also provide little new information about the nation’s longer-run budget path, the reports … -
Statement: Chad Stone, Chief Economist, on the July Employment Report
August 7, 2009
Today’s employment report shows that labor market conditions remain extremely harsh for job-seekers, generating a record level of long-term unemployment. One third of the unemployed (33.8 percent) have been looking for work for 27 weeks or more — the highest percentage ever … -
Statement by Chad Stone, Chief Economist, on the Second-Quarter Economic Growth Report
July 31, 2009
Today’s report on second-quarter economic growth shows that the economy is no longer in free fall. It also provides evidence that the economic recovery legislation that the Administration and Congress enacted earlier this year is doing what it was reasonably expected to do. No … -
Joint Statement: Robert Greenstein and James Horney on the President’s “Pay As You Go” Budget Proposal
June 10, 2009
President Obama’s proposal to require policymakers to fully pay for all new entitlement increases and tax cuts, rather than deficit-finance them, is an important first step to restore fiscal responsibility. Critics charge that the pay-as-you-go, or PAYGO, proposal is riddled with … -
Statement: Chad Stone, Chief Economist, on the May Employment Report
June 5, 2009
Today’s jobs report shows a labor market that is still deteriorating but that offers signs that the worst of the current recession may be over. Job losses in May, while still high at 345,000, were less than half of January’s level. The unemployment rate jumped to 9.4 percent but, for the second month in a row, the labor force grew as more people … -
Statement: Robert Greenstein on Trustees’ Social Security Report
May 12, 2009
The trustees’ report on Social Security shows that the program does not face an immediate crisis and isn’t at risk of collapsing and lacking funds to pay any benefits, even in the long run, but that Congress needs to restore Social Security’s long-term solvency so it can meet its … -
Statement: Robert Greenstein on Trustees’ Report on Medicare
May 12, 2009
The new trustees’ disturbing report on Medicare underscores the urgency that Congress enact health care reform that slows the growth of health care costs, while extending coverage to the uninsured. In particular, the report should prod Congress to adopt the President’s proposed … -
Statement by Chad Stone, Chief Economist, on the April Employment Report
May 8, 2009
Today’s jobs report brings more sobering news about the depth and duration of the recession. Even if the economy hits bottom soon and begins growing again, it will take time to reverse the severe job losses and sharp increase in unemployment that have already occurred. The official unemployment rate hit 8.9 … -
Statement: Chuck Marr, Director of Federal Tax Policy, on the Administration’s International Tax Proposal
May 4, 2009
The Administration’s proposal is a welcome step forward in tax policy because it would make the tax code more balanced, support research and development, and promote fiscal responsibility. Specifically, it would tighten lax international tax rules and … -
Statement by Chad Stone, Chief Economist, on the March Employment Report
April 3, 2009
With the continued sharp deterioration in the labor market in March, the pace of job losses in this recession now is far worse than even during the deep 1981-82 recession. Thus, Congress acted wisely this week in rejecting calls to cut federal spending in 2010, at a time when the economy clearly will still be quite weak and need continued … -
Statement of Robert Greenstein, Executive Director, on the New Report From the Congressional Budget Office
March 20, 2009
Today’s disturbing report from the Congressional Budget Office projects larger budget deficits over the next ten years than the President’s budget estimates, mainly because the economy is weaker than the Obama Administration and many private forecasters projected just a few months ago. These … -
Statement by Chad Stone, Chief Economist, on the February Employment Report
March 6, 2009
The sharp deterioration in the job market that continued in February was, as expected, grim, underscoring why it was so important that Congress enact an effective economic recovery law last month. No one should expect that law to put the economy back on track immediately. But if federal, state, and local governments implement the law … -
Statement by Robert Greenstein, Executive Director, on the President's 2010 Budget Proposal
February 27, 2009
The President’s budget represents a bold and courageous proposal to make progress in restoring fiscal discipline while addressing two central problems of our time — a broken health care system and the threat of catastrophic global warming — and other national needs. … -
Statement: Robert Greenstein on the Conference Agreement on the Recovery Package
February 12, 2009
The economic recovery agreement is a major achievement that should provide timely and substantial stimulus to the deteriorating economy. The agreement improves significantly on the Senate bill, paring back several costly Senate-passed tax cuts that would have provided little “bang for the buck” in terms of economic stimulus, while … -
Statement by Chad Stone, Chief Economist, on the January Employment Report
February 6, 2009
With job losses mounting and the recession deepening, there is no time to waste enacting the economic recovery package now before the Congress. That package will provide needed benefits to unemployed workers, and it would help stem the tide of job losses and moderate the severity of the downturn. The recession that began in December 2007 has … -
Statement: Chad Stone, Chief Economist, on the December Employment Report
January 9, 2009
Another dismal jobs report shows that the recession is deepening and confirms the need for a substantial and well-targeted economic recovery package. The assistance for unemployed workers described below should be a key component of that package. The recession that began in December 2007 is …
