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Back-up evidence for WaPo piece on most important econ lessons of the decade

Summary:
Here are the companion figures to my WaPo piece today on econ lessons of the decade. 1) The unemployment rate can fall a lot lower than most economists thought without triggering inflationary pressures. 2) Budget deficits cannot be assumed to place upward pressure on interest rates. 3) Weak worker bargaining power has long been a factor driving inequality. In the last decade, the increasing clout of certain employers has joined the mix. Source: NY Times 4) Progressive health care reform, wherein the government plays a larger role in coverage and cost control, works. Source: Paul Van de Water, CBPP 5) [Lesson re-learned] Trickle-down tax cuts don’t work. Source: Goldman Sachs 6) Antipoverty programs don’t just reduce poverty today; they improve the outcomes of their beneficiaries many

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Here are the companion figures to my WaPo piece today on econ lessons of the decade.

1) The unemployment rate can fall a lot lower than most economists thought without triggering inflationary pressures.

Back-up evidence for WaPo piece on most important econ lessons of the decade

2) Budget deficits cannot be assumed to place upward pressure on interest rates.

Back-up evidence for WaPo piece on most important econ lessons of the decade

3) Weak worker bargaining power has long been a factor driving inequality. In the last decade, the increasing clout of certain employers has joined the mix.

Back-up evidence for WaPo piece on most important econ lessons of the decade

Source: NY Times

4) Progressive health care reform, wherein the government plays a larger role in coverage and cost control, works.

Back-up evidence for WaPo piece on most important econ lessons of the decade

Source: Paul Van de Water, CBPP

5) [Lesson re-learned] Trickle-down tax cuts don’t work.

Back-up evidence for WaPo piece on most important econ lessons of the decade

Source: Goldman Sachs

6) Antipoverty programs don’t just reduce poverty today; they improve the outcomes of their beneficiaries many years hence.

Back-up evidence for WaPo piece on most important econ lessons of the decade

Source: CBPP

Jared Bernstein
Jared Bernstein joined the Center on Budget and Policy Priorities in May 2011 as a Senior Fellow. From 2009 to 2011, Bernstein was the Chief Economist and Economic Adviser to Vice President Joe Biden, Executive Director of the White House Task Force on the Middle Class, and a member of President Obama’s economic team. Prior to joining the Obama administration, Bernstein was a senior economist and the director of the Living Standards Program at the Economic Policy Institute, and between 1995 and 1996, he held the post of Deputy Chief Economist at the U.S. Department of Labor.

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