Statements Archive
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Statement by Chad Stone, Chief Economist, on the November Employment Report
December 7, 2012
Beyond the surprising news that Hurricane Sandy had little effect on overall job creation and unemployment, today’s report paints a familiar picture of moderate job creation and stubbornly high unemployment (see chart). Though unemployment fell, that’s because the labor force … -
Statement of Robert Greenstein, President, in Response to Republican Budget Offer
December 4, 2012
House Republican leaders portray the deficit-reduction offer that they issued yesterday as a fair middle ground. It isn’t. On the crucial issue of revenues, the new Republican offer proposes $800 billion over ten years. Contrast that with the plan that Erskine Bowles, Alan Simpson, and some members of their commission issued in December 2010, … -
Statement of Nicholas Johnson, Vice President for State Fiscal Policy, on Defeat of “TABOR” Amendment in Florida
Updated November 7, 2012
Florida voters yesterday resoundingly rejected the crippling and arbitrary spending limit known as TABOR, showing once again that such limits remain unpopular around the country. Anti-government groups have made serious efforts to enact TABORs through both ballot measures and legislation … -
Statement by Chad Stone, Chief Economist, on the October Employment Report
November 2, 2012
As today’s jobs report shows, the economy continues to create jobs but not fast enough to erase the huge job losses from the Great Recession (see chart). The unemployment rate has dropped more than two points from its peak, but it remains too high for policymakers to let emergency … -
Statement by Chad Stone, Chief Economist, on the September Employment Report
October 5, 2012
Today’s jobs report sent mixed signals about the overall job market but left no doubt that long-term unemployment remains a significant problem — making clear that policymakers must not let emergency federal unemployment insurance (UI) expire at the end of the year. Two-fifths of the … -
Statement of Robert Greenstein, President, on Census’ 2011 Poverty, Income, and Health Insurance Data
September 12, 2012
Today’s Census data contained the good, the fair, and the ugly. The good news is that the number of uninsured Americans dropped by 1.3 million and the share of Americans without insurance fell by more than in any year since 1999; the fair news is that the poverty rate stayed flat after … -
Statement by Chad Stone, Chief Economist, on the August Employment Report
September 7, 2012
Today’s disappointing jobs report shows that despite 30 straight months of private-sector job creation — including 103,000 new private-sector jobs in August — unemployment will likely remain high for the foreseeable future, suggesting policymakers should extend federal … -
Statement by Chad Stone, Chief Economist, on the July Employment Report
August 3, 2012
Today’s jobs report showing some pickup in job creation does not reduce the need for policymakers to implement measures to give the flagging recovery a needed boost, including preparing to extend emergency federal unemployment insurance (UI) past its scheduled expiration at the end of the … -
Statement by Chad Stone, Chief Economist, on the June Employment Report
July 6, 2012
The weak June employment report shows that it remains difficult to find a job in today’s job market, especially for the long-term unemployed (those who have been looking for work for 27 weeks or longer). The percentage of people in the labor force who are long-term unemployed remains … -
Statement of Robert Greenstein, President: Court Decision Will Allow Health Reform to Bring Major Benefits to the Nation, Especially If States Do Their Job
June 28, 2012
Today’s Supreme Court decision allows the nation to reap the very substantial benefits of the Affordable Care Act: health insurance coverage for millions of uninsured Americans, important consumer protections for millions of insured Americans whose coverage has serious gaps, and the promise of progress in slowing the growth of health care costs. States and the federal government should move … -
Statement by Chad Stone, Chief Economist, on the May Employment Report
June 1, 2012
Today’s disappointing employment report shows that the labor market remains far below full strength. The unemployment rate edged up to 8.2 percent and forecasters expect it to remain near 8 percent by the end of the year, which has important implications for the current temporary … -
Statement by Robert Greenstein, President, on Speaker Boehner's Recent Remarks Concerning the Debt Limit
May 16, 2012
No one should underestimate the significance of House Speaker John Boehner's declaration yesterday that he will block an increase in the debt limit next winter unless policymakers match each dollar of debt limit increase with at least a dollar in budget cuts, with no revenue increases. This … -
Statement: Chad Stone, Chief Economist, on the April Employment Report
May 4, 2012
Today’s employment report shows that April’s job growth was disappointing for the second straight month and that the economic costs in terms of fewer jobs, less income, and lower growth remain very high. In particular, the number of workers in the Labor Department’s … -
Statement of Paul Van de Water, Senior Fellow, on the 2012 Medicare Trustees’ Report
April 23, 2012
The new report from Medicare’s trustees shows little change from last year’s report in the near-term outlook for the program, while indicating that the program continues to face significant financing challenges in the long run. The projected date of insolvency for Medicare’s … -
Statement of Robert Greenstein on the 2012 Social Security Trustees' Report
April 23, 2012
The trustees’ report, with its projection that, in the absence of policy changes, Social Security will be able to pay full benefits only until 2033 — and about 75 percent of scheduled benefits after that — indicates Congress should act soon to address the program’s long-term … -
Statement by Chad Stone, Chief Economist, on Pending House Tax Cut and House Committee SNAP Benefit Cuts
April 18, 2012
The House majority is pursuing legislation this week that makes no economic sense. The full House will pass a $46 billion tax cut that’s advertised as a “job-creating” measure, while the House Agriculture Committee approved a plan today to save $36 billion by cutting the … -
Statement: Chad Stone, Chief Economist, on the March Employment Report
April 6, 2012
Today's jobs report disappointed expectations, with employers adding only 120,000 jobs in March, making clear that a strong jobs recovery remains elusive. The unemployment rate dipped to 8.2 percent, but that decline reflected people leaving the labor force, not finding jobs. The … -
Statement of Robert Greenstein, President, on Chairman Ryan's Budget Plan
March 21, 2012
The new Ryan budget is a remarkable document — one that, for most of the past half-century, would have been outside the bounds of mainstream discussion due to its extreme nature. In essence, this budget is Robin Hood in reverse — on steroids. It would likely produce the largest redistribution of income from the bottom to the top in modern U.S.… -
Statement: Chad Stone, Chief Economist, on the February Employment Report
March 9, 2012
Today brought another solid monthly employment report. Nevertheless, the economic recovery still has a long way to go to erase the lingering effects of the Great Recession and restore full employment and a healthy labor market. Moreover, economic forecasters expect only modest economic growth … -
How Does the Obama Budget Do In Meeting Deficit Reduction Goals?
Revised February 16, 2012
The President’s budget would, if enacted, make significant progress in reducing deficits, although policymakers would have to take further steps, especially for future decades. Under its economic assumptions, it would achieve what most budget analysts, and all recent bipartisan commissions or panels, have identified as the crucial fiscal goal … -
Statement: Chad Stone, Chief Economist, on the January Employment Report
February 3, 2012
Today's jobs report is encouraging, but we should judge it against the overall sluggishness of the economic recovery and a persistently large jobs deficit that remains after 23 straight months of private-sector job creation. Payroll employment is still 5.6 million jobs short of where … -
Statement: Chad Stone, Chief Economist, on the December Employment Report
January 6, 2012
Today’s employment report shows glimmers of hope for the job market, most notably the addition of 200,000 payroll jobs in December. Yet a strong jobs recovery remains elusive. The overall jobs deficit remains large, the labor force shrank for the second straight month, and the proportion …
