Statements Archive
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Statement: Chad Stone, Chief Economist, on the November Employment Report
December 2, 2011
Today's employment report shows continued moderate growth in private payroll employment but a further decline in government jobs. Thus, the overall jobs deficit remains large (see chart) and jobs remain hard to find. The drop in the unemployment rate to 8.6 percent arises from people … -
Statement: Chad Stone, Chief Economist, on the October Employment Report
November 4, 2011
Today's employment report shows that jobs remain scarce, especially for the long-term unemployed. More than two-fifths of the unemployed have been looking for a job for more than six months (see chart) — and, according to a recent Pew Economic Policy Group Report, nearly a third of the … -
Statement: Paul N. Van de Water, Senior Fellow, on the CLASS Act
October 14, 2011
Health and Human Services (HHS) Secretary Kathleen Sebelius’ announcement today that her department has not been able to design a financially self-sustaining CLASS program within the law’s boundaries is sad but not surprising. It does not, however, eliminate the need for new … -
Statement: Chad Stone, Chief Economist, on the September Employment Report
October 7, 2011
Today's jobs report shows that more than two years after the recession officially ended, a strong jobs recovery remains elusive. With job creation still sluggish, unemployment still very high, and the share of Americans with a job still severely depressed (see chart), policymakers should enact a … -
Statement: James R. Horney, Vice President Of Federal Fiscal Policy, on President Obama’s Budget Package
September 19, 2011
President Obama proposed a balanced and well-designed package today that would boost economic growth and jobs in the short run while stabilizing federal debt as a share of the economy after 2013. By keeping federal debt held by the public from growing as a share of the economy, the President's … -
Statement: Robert Greenstein, President, on Census’ 2010 Poverty, Income, and Health Insurance Data
September 13, 2011
Today's Census report shows that in 2010, the share of all Americans and the share of children living in poverty, the number and share of people living in "deep poverty," and the number without health insurance all reached their highest level in many years — in some cases, in … -
Statement: Chad Stone, Chief Economist, on the August Employment Report
September 2, 2011
Today's jobs report highlights the critical need for policies to put people back to work. Employers added no net new jobs and the unemployment rate remained 9.1 percent. Most leading forecasters in government and out expect the unemployment rate to remain very high for the next few … -
Statement: James R. Horney, Vice President Of Federal Fiscal Policy, on the Congressional Budget Office Update of Its Budget and Economic Outlook
August 24, 2011
Today’s Congressional Budget Office update of the nation’s budget and economic outlook reinforces the point that policymakers should not let legitimate concerns about deficits and debt in coming decades prevent them from pursuing policies to boost economic growth and increase jobs in … -
Statement: Chad Stone, Chief Economist, on the July Employment Report
August 5, 2011
Today's jobs report shows that the labor market continues to limp along rather than put people back to work. The share of the population with a job remains severely depressed and unemployment remains alarmingly high — with more than 40 percent of the unemployment rate … -
Statement: Robert Greenstein, President, on New Debt Ceiling Agreement
Updated August 2, 2011
The new debt ceiling agreement will achieve the essential goal of avoiding a potentially catastrophic default in the days ahead. But to say that the deal is likely to lead to highly unbalanced results would be an understatement. The deal places the nation on a disturbing policy course and sets what may become important precedents that are cause … -
Statement: Robert Greenstein, President, on the Constitutional Balanced Budget Amendments Before the House
July 28, 2011
The House is scheduled to consider two versions of the constitutional balanced budget amendment later this week — H.J. Res 1 and H.J. Res 2. The first (H.J. Res 1) requires a two-thirds vote of the House and Senate for any legislation that includes a tax increase and also prohibits federal spending from exceeding 18 percent of GDP. Both of these … -
Statement: Robert Greenstein, President, on House Speaker Boehner’s New Budget Proposal
Updated July 27, 2011
House Speaker John Boehner’s new budget proposal would essentially require, as the price of raising the debt ceiling again early next year, a choice between deep cuts in the years immediately ahead in Social Security and Medicare benefits for current retirees, repeal of health reform’s coverage expansions, or wholesale … -
Greenstein Statement on the “Cut, Cap, and Balance Act” That the House Will Consider on July 19
Updated July 16, 2011
The “Cut, Cap, and Balance Act” that the House of Representatives will vote on next week stands out as one of the most ideologically extreme pieces of major budget legislation to come before Congress in years, if not decades. It would go a substantial way toward enshrining Grover … -
Statement: Chad Stone, Chief Economist, on the June Employment Report
July 8, 2011
Today’s very disappointing employment report shows that two years after the technical end of the recession and after 16 straight months of private-sector job creation, the jobs deficit remains huge (see chart). The depth of the job losses from the recession is unprecedented since … -
Statement: Chad Stone, Chief Economist, on the May Employment Report
June 3, 2011
Today’s employment report should be a wake-up call to policymakers who continue to say the budget deficit is a more immediate threat to the economy than the jobs deficit. Nearly two years after the economy technically turned the corner from recession to recovery, job growth was … -
Statement: Robert Greenstein, President, on the 2011 Medicare Trustees' Report
May 13, 2011
The new report from Medicare’s trustees shows little change from last year’s report in the long-run outlook for the program, while indicating that the program continues to face significant financing challenges. Partly because the trustees now foresee a modestly slower economic … -
Statement: Robert Greenstein, President, on the 2011 Social Security Trustees' Report
May 13, 2011
The trustees’ report shows that Social Security faces no immediate crisis and will have substantial resources to pay benefits even over the long run, but it faces a long-term shortfall that Congress should address sooner rather than later so the program can meet its promises. … -
Statement: Chad Stone, Chief Economist, on the April Employment Report
May 6, 2011
Today’s employment report provides mixed signals on the jobs market. The survey of employers shows they added jobs at a solid pace in April. Yet the jobs deficit from the recession remains very large and, even more discouraging, the survey of households shows that unemployment is still high, with too many people … -
Statement of Robert Greenstein, President, on Chairman Ryan’s Budget Plan
Updated April 20, 2011
Chairman Ryan’s sweeping budget plan has been labeled “courageous,” but it’s a cowardly budget in a crucial respect. It proposes a dramatic reverse-Robin-Hood approach that gets the lion’s share of its budget cuts from programs for low-income Americans — the politically and economically weakest group in … -
Statement: Robert Greenstein on President Obama's Deficit-Reduction Plan
April 13, 2011
President Obama made an important contribution today to efforts to address the nation’s long-term fiscal problems, proposing a plan to reduce deficits by about $4 trillion over the next 12 years and meet the essential goal of stabilizing the national debt so that it rises no faster than … -
Statement by Chad Stone, Chief Economist, on the March Employment Report
April 1, 2011
Today’s employment report shows that the economy is creating jobs at a solid pace. But it also reminds us that without even stronger job growth, it will take years to erase the large jobs deficit that the 2007-2009 recession created (see chart) and to lower the unemployment rate … -
Statement by Robert Greenstein on Senate Republican Leaders’ Proposed Balanced Budget Amendment
March 31, 2011
The balanced budget amendment to the Constitution that Senate Republican leaders unveiled today is the most radical major fiscal policy proposal in decades. It would require a balanced budget every year regardless of the state of the economy, an exceedingly unwise requirement that most … -
Statement: Chad Stone, Chief Economist, on the February Employment Report
March 4, 2011
Today’s employment report shows job creation bouncing back from last month’s depressed level, but it also shows that the labor market is still suffering serious ill-effects from the 2007-2009 recession. Job growth thus far in the economic recovery has reduced only a small part … -
Statement: Robert Greenstein, Executive Director, on the President's Budget Proposal
February 14, 2011
The President’s budget would take an important step toward addressing the nation’s long-term fiscal challenge, cutting the deficit enough to stabilize the debt as a share of the economy for most of this decade. The debt would represent the same share of the economy in 2019 as in 2013, and be only 0.7 percent of … -
Statement: Chad Stone, Chief Economist, on the January Employment Report
February 4, 2011
Today’s jobs report is another in the recent string of such monthly reports showing modest job creation. The unemployment rate dropped surprisingly to 9 percent, but it remains very high. While labor market conditions are brighter than two years ago when the economy was … -
Statement of James Horney, Director of Federal Fiscal Policy, on CBO’s New Budget Estimates
Revised January 28, 2011
Correction: We have revised this statement to correct numbers in the third bullet. The Congressional Budget Office’s new report on the budget and economic outlook suggests three important points that might be lost in the current cacophony of calls to slash federal domestic … -
Statement: Chad Stone, Chief Economist, on the December Employment Report
January 7, 2011
Today’s jobs report shows that after two years of net job losses, payroll employment grew modestly in 2010, with private employers adding jobs every month (see chart). The drop in December’s unemployment rate was welcome, but a key reason for it was people leaving … -
Statement of Robert Greenstein, Executive Director, on the New House Budget Rules
January 5, 2011
Today’s vote by the new House majority to change the chamber’s rules, making it easier to pass tax cuts that increase the deficit, contradicts many Republican members’ anti-deficit rhetoric and marks a significant step away from fiscal discipline and toward the kind of rules that helped pave the way for the return of large deficits in the years …
