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Posts by Chad Stone

People Already Facing Opportunity Barriers Hit Hardest by Massive April Job Losses

May 12, 2020

Most of the jobs lost in the first two months of the sharp economic downturn — most of which came in April — have occurred in industries that pay low average wages. As a result, the deep downturn has hit hardest at workers who already faced barriers to economic opportunity, including Latino and Black workers, workers without a...

Unemployment Has Surged in Downturn

Trump Rule Weakens SNAP’s Recession-Fighting Power

December 11, 2019

The Trump Administration’s new rule that severely limits access to SNAP (food stamps) for certain jobless individuals aged 18-50 who aren’t raising minor children in their homes is not only cruel; it amounts to economic malpractice.

An important feature of economic...

Grocery shopper with full cart

In a Recession, Put Deficit Concerns Aside

September 23, 2019

The economy is in the 124th month of the longest expansion on record, and while expansions don’t die from old age alone, fears are rising that a recession may be on the horizon. Recessions can hurt workers and their families in many ways, so policymakers should try to make them as short and shallow as possible. That means temporarily shelving longer-term deficit concerns and enacting anti-...

Wall Street

Economic Expansion Now Tied for Longest on Record

June 6, 2019

June 2019 is the 120th month since the Great Recession ended in June of 2009, tying this expansion for the longest on record with the expansion of 1991 to 2001 (see chart). This expansion will become the longest on record next month — barring an extremely unlikely collapse in economic activity that would prompt the National Bureau of Economic Research, the...

In Focus: Current Economic Expansion Tied for Longest on Record

Treasury “Analysis” of Tax Bill Assumes What It Claims to Prove

December 12, 2017

The Treasury Department’s new one-page “analysis” of the Senate Finance Committee-passed tax bill purports to analyze how much more economic growth and revenue that bill would generate. In reality, it does no such thing. It first assumes what the growth will be and then...

Stack of Bills

Taxing College Endowment Income No Way to Pay for Regressive Tax Cuts

December 6, 2017

The House- and Senate-passed Republican tax bills each impose a 1.4 percent excise tax on the income from endowments of some private colleges and universities. The idea appears to stem from a larger proposal, as explained below, to boost educational opportunities for low- and moderate-income students. Congressional Republicans, however, are using the tax to help pay for tax cuts that mainly...

College graduates

GOP Making Highly Unrealistic Claims for Wage Gains from Tax Cuts

November 13, 2017

In my latest post for US News & World Report’s Economic Intelligence, I discuss how Republicans’ claims that their tax cuts will give American workers a...

money puzzle

Trump’s Unrealistic Expectations for Economic Growth

September 16, 2016

Donald Trump’s economic team says his economic plan would raise annual economic growth to 3.5 percent (it’s averaged 2.1 percent since the economy emerged from recession in mid-2009).  Trump himself says...

4% Not a Realistic Target for Future Growth

Reforming Federal Coal-Leasing Policy Would Benefit Taxpayers and Environment

June 29, 2016

My latest post for U.S. News & World Report describes how current coal-leasing policies on federal land fail key economic tests, drawing on a new...

Smokestack and Black Smoke

House Resolution Against Carbon Tax Woefully Off-Base

June 8, 2016

The House is expected to vote on a resolution this week expressing that “a carbon tax would be detrimental to the United States economy.” That contrasts sharply with the findings of knowledgeable scientists and economists.

Scientists recognize that unabated greenhouse gas pollution from burning carbon-...