Statements Archive
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Statement: Robert Greenstein, Executive Director, on the Tax Cut-Unemployment Insurance Deal
Updated December 8, 2010
The deal between President Obama and Republican leaders on tax cuts and unemployment insurance has two substantial positive aspects: its surprisingly strong protections for low- and middle-income working families and its stronger-than-expected boost for the economy and jobs. But it … -
Statement: Chad Stone, Chief Economist, on the November Employment Report
December 3, 2010
Today’s disappointing employment report shows that the economy is continuing to create jobs, but job growth is far too slow to bring down the painfully high long-term unemployment rate (see chart). With such a high percentage of the unemployed unable to find a job within 26 weeks, … -
Statement: Robert Greenstein, Executive Director and James Horney, Director of Federal Fiscal Policy, on the Final Report from the Co-Chairs of the Deficit Commission
December 1, 2010
The new deficit reduction plan that the co-chairs of the President’s Commission on Fiscal Responsibility and Reform — former Clinton White House Chief of Staff Erskine Bowles and former Republican Senator Alan Simpson — presented today to commission members contains a number of relatively modest … -
Statement: Chad Stone, Chief Economist, on the October Employment Report
November 5, 2010
Today’s employment report contains much better news on job creation than expected, but it does not change the underlying fact that the economic recovery remains weak and the economy needs a boost. For the tenth straight month, the private sector created jobs, but the pace of job creation … -
Statement: Chad Stone, Chief Economist, on the September Employment Report
October 8, 2010
Today’s jobs report shows that the economy still faces a long and difficult climb out of the jobs hole created by the recent recession. The private sector has created, on average, fewer than 100,000 jobs a month this year — not enough to keep up with population growth and not nearly … -
Statement: Robert Greenstein, Executive Director, on Census’ 2009 Poverty and Health Insurance Data
September 16, 2010
The Census Bureau data for 2009 reflect the severity of the recent recession, as poverty rose sharply and the number of uninsured spiked. The new figures somewhat overstate the rise in poverty, however, because they do not count the bulk of direct assistance that the 2009 Recovery Act provided to … -
Statement by Chad Stone, Chief Economist, on the August Employment Report
September 3, 2010
Today’s jobs report provided better news than expected about private-sector job creation, but the case for additional stimulus to boost a tepid economic recovery and revive the job market remains strong. The good news, as the chart below shows, is that the economy has now added private-sector jobs for eight straight months. The bad news is that adding … -
Statement: Chad Stone, Chief Economist, on the July Employment Report
August 6, 2010
Today’s jobs report shows a labor market that is still not generating enough jobs to lower the unemployment rate. Unless job creation picks up dramatically, unemployment will likely remain elevated for some time to come, as it did in the previous two recessions, though at much higher rates this time (see chart). Creating fewer than … -
Statement by Robert Greenstein: Social Security Doesn’t Face an Immediate Crisis, But Policymakers Should Act to Shore Up System
August 5, 2010
The trustees’ report on Social Security shows that the program does not face an immediate crisis and that — even in the long run — will still have substantial resources to pay benefits. Nevertheless, Congress needs to restore Social Security’s long-term solvency so that it … -
Statement: Robert Greenstein, Executive Director on the Medicare Trustees' Report
August 5, 2010
The new Medicare trustees report clearly demonstrates that the Affordable Care Act (or ACA, the recently enacted health reform legislation) has strengthened the financing of the Medicare program. It also shows that slowing the growth of health care costs will require substantial additional efforts. … -
Statement: Chad Stone, Chief Economist, as the Senate Nears Approval of Unemployment Insurance
July 20, 2010
The Senate’s move today toward extending the Recovery Act’s extra weeks of jobless benefits for the long-term unemployed will provide much-needed help to almost 3 million unemployed workers and a boost to the economy, since those workers will spend their benefits quickly … -
Statement: Chad Stone, Chief Economist, on the June Employment Report
July 2, 2010
The good news in today’s jobs report is that the private sector continued adding jobs in June — though, as expected, the economy lost jobs overall due to the scheduled reduction in temporary census jobs (see chart). The bad news is that private sector job creation must be much … -
Statement: Chad Stone, Chief Economist, on the May Employment Report
June 4, 2010
Today’s jobs report shows a labor market that has turned the corner and is creating jobs but one with a long way to go toward a full recovery from the devastating job losses of 2008-09. The percentage of the population with a job is generally moving in the right direction but remains at a … -
Statement: Nicholas Johnson, Director, State Fiscal Project, on NGA and NASBO's “Fiscal Survey of the States”
June 3, 2010
Today’s “Fiscal Survey of States” from the National Governors Association (NGA) and the National Association of State Budget Officers (NASBO) underscores the urgent need for Congress to extend fiscal relief to states in the pending jobs legislation. Without further assistance, … -
Statement: Chad Stone, Chief Economist, on the April Employment Report
May 7, 2010
Today’s jobs report contains much encouraging news, but it also reminds us that the economic recovery will have to gather more strength to bring down the unemployment rate. While the economy has been growing since the middle of last year and employers are beginning to add jobs, the … -
Statement: Chad Stone, Chief Economist, on the March Employment Report
April 2, 2010
Today’s jobs report provides further evidence that the labor market has stabilized after experiencing its most severe jobs decline since the 1930s. Job losses slowed dramatically after President Obama and Congress enacted the American Recovery and Reinvestment Act in February … -
Statement: Robert Greenstein, Executive Director, on the Congressional Leadership's New Health Reform Legislation
March 19, 2010
The congressional leadership’s new health reform legislation builds upon the Senate-passed bill to extend insurance coverage to 32 million Americans while reducing the federal budget deficit over both the near and long term. By making critical improvements in the Senate bill, many of which were proposed by President Obama, the new measure covers more people and … -
Statement: Michael Mazerov, Senior Fellow, on Amazon's Cancellation of Its Colorado Affiliate Program
March 9, 2010
Last month, Colorado enacted a law that requires Amazon.com and other Internet retailers that do not collect and remit Colorado sales tax on what they sell in the state to tell their Colorado customers that they may owe sales tax on their purchases, and also to tell the state each year the total … -
Statement: Chad Stone, Chief Economist, on the February Employment Report
March 5, 2010
Today’s jobs report shows that job losses continued at a moderate pace in February and unemployment remained unchanged at 9.7 percent. While noting that these numbers may include the impacts on hiring and hours worked of the severe winter weather that paralyzed major Northeastern cities in February, the Labor Department said that it could not quantify the impact.… -
Statement by Robert Greenstein, Executive Director, on Retirement Security Proposals in the President’s 2011 Budget
February 24, 2010
The retirement security proposals in the President’s 2011 budget likely would produce a significant increase in retirement saving that would help both American families and the overall economy. It would increase the total amount of national saving, thereby increasing the pool of funds … -
Statement: Robert Greenstein, Executive Director, on the President's Health Reform Proposal
February 23, 2010
The President’s proposal represents the last hope, perhaps for years to come, to enact comprehensive reforms that extend coverage to over 30 million uninsured Americans, provide important consumer protections to tens of millions of insured Americans whose coverage may have critical gaps, … -
Statement: Robert Greenstein, Executive Director, on Baucus-Grassley "HIRE" Act
February 11, 2010
The Baucus-Grassley “HIRE” Act recognizes the need for further steps to boost the economy and create jobs beyond what Congress enacted last year in the American Recovery and Reinvestment Act (ARRA). It falls short of what’s needed, however, because it lacks additional fiscal relief for hard-pressed states and provides an inadequate extension of … -
Statement: Chad Stone, Chief Economist, on the January Employment Report
February 5, 2010
Today’s jobs report shows that job losses have slowed to a trickle compared with what they were in the months just before President Obama and Congress enacted the American Recovery and Reinvestment Act (ARRA) last February. But it also highlights the huge jobs deficit that remains the legacy of the longest and most severe recession since the Great Depression. … -
Statement: Robert Greenstein, Executive Director, on the President's 2011 Budget Proposal
February 1, 2010
The President’s budget reflects both the short-term priority of boosting the economy and creating jobs and the longer-term priority of bringing deficits under control while meeting important national needs. There is a strong case for more medium- and long-term deficit reduction than the budget contains. But the budget likely goes as far in this … -
Statement: Robert Greenstein, Executive Director, on the Statutory “Pay As You Go” Budget Proposal
January 27, 2010
This proposal marks a useful step toward restoring fiscal responsibility. A well-designed pay-as-you-go (PAYGO) rule can contribute significantly to the fiscal discipline needed to address the nation’s serious long-term budget problems, presuming that policymakers abide by it and pay … -
Statement: Nicholas Johnson, State Fiscal Project Director, on the Passage of Revenue Measures in Oregon
January 27, 2010
In approving tax increases on the ballot yesterday, Oregon voters wisely chose a balanced approach to addressing the state’s budget crisis. They rejected the claim that revenue increases would harm the economy and, instead, they acknowledged that relying on program cuts alone would hurt … -
Statement: Chad Stone, Chief Economist, on the December Employment Report
January 8, 2010
Today’s jobs report shows that, while the economy has apparently turned a corner and sharply rising unemployment and large monthly job losses may be behind us, the labor market remains extraordinarily weak and jobs remain very hard to find. In these circumstances, the case remains strong …
