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New Findings Show Unemployment Insurance Trumps High-Income Tax Cuts on Jobs, Deficits

December 6, 2010

CORRECTED December 10th, 2010: The Figures for 2012 payroll employment and unemployment rate in table 2 have been corrected. In the previous version the figures shown were for 2013 instead of 2012.

We’ve received some eye-popping policy simulations from Mark Zandi, chief economist at Moody’s Analytics, that flesh out an important point that the Congressional Budget Office, Zandi, and many others have made before: unemployment insurance (UI) and tax cuts focused on low- and moderate-income households have a much larger economic impact than income tax cuts for high-income individuals. I’ll be writing a more detailed report later, but here they are in a nutshell:

Today’s Jobs Report in Pictures

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 unemployment rate. Below are some charts to show how the new figures look in historical context; later this morning we will issue a statement with analysis.

Behind the Jobless Benefits Debate #6: What Happens with No Federal Emergency Unemployment Insurance?

December 1, 2010

The federal emergency unemployment insurance (UI) program expired yesterday without Congressional agreement on how to keep it going, and the lights are going out on unemployed workers.

3rd Quarter GDP: Better Than First Thought But Not Good Enough

November 23, 2010

The economy expanded at a 2.5 percent annual rate in the third quarter, according to a new Commerce Department estimate released today. Today’s estimate is higher than the preliminary estimate of 2.0 percent made a month ago, and it is slightly better than markets were expecting. But it’s not good enough to pull us out of the deep hole created by the Great Recession.

Behind the Jobless Benefits Debate #5: How Does Unemployment Insurance Affect the Economy?

November 19, 2010

This is the fifth of a series of posts that look behind the debate over continuing a federal program that provides emergency unemployment benefits and explain what’s at stake for jobless workers and the economy.

Behind the Jobless Benefits Debate #4: Who Gets Unemployment Insurance?

November 17, 2010

This is the fourth of a series of posts that look behind the debate over continuing a federal program that provides emergency unemployment benefits and explain what’s at stake for jobless workers and the economy.

Why Paying for Renewing Emergency Unemployment Insurance Is Hypocritical or Counterproductive

November 15, 2010

Some lawmakers think it’s fine to extend the Bush-era tax cuts — including those for people making over $250,000 — without offsetting the cost. But some of those same lawmakers oppose a one-year extension of the program that provides emergency unemployment benefits to jobless workers unless it is offset by cuts elsewhere in the budget. This is crazy.

Behind the Jobless Benefits Debate #3: Who Could Lose Federal Benefits Next Month?

November 12, 2010

This is the third of a series of posts that look behind the debate over continuing a federal program that provides emergency unemployment insurance benefits and explain what’s at stake for jobless workers and the economy.

Behind the Jobless Benefits Debate #2: Do We Still Need a Federal Emergency Unemployment Insurance Program?

November 10, 2010

This is the second of a series of posts that look behind the debate over continuing a federal program that provides emergency unemployment benefits and explain what’s at stake for jobless workers and the economy.

Behind the Jobless Benefits Debate #1: What’s the Issue Before Congress?

November 8, 2010

As I mentioned recently, over the next few weeks we will issue a series of posts that look behind the debate over continuing a federal program that provides emergency unemployment benefits and explain what’s at stake for jobless workers and the economy. Here’s the first in the series:

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