Director, Hutchins Center on Fiscal & Monetary Policy, Brookings institution. Contributing correspondent, The Wall Street Journal

Home Ownership in the U.S.: Rethinking Big Part of the American Dream

online.wsj.com — (Please see Corrections and Amplifications below.) It's time to have a serious conversation about the American approach to home ownership and mortgages. A system once celebrated for putting so many families into their own homes and for making mortgages so widely available has become, as one housing economist puts it, "a case study in failure."

Today's Deficit is not the Problem

brookings.edu — There are reasons to be relaxed about the federal deficit. But... When the books closed on fiscal year 2014 on Sept. 30, revenues were up 9% and spending was up just 1%. Even Medicare grew slowly.

Dodd-Frank Financial Reform: Wins, Losses, Trade-Offs, Not Far Enough and Too-Soon-to-Tell

brookings.edu — The Dodd-Frank Wall Street Reform and Consumer Protection Act made the financial system safer, stronger and less prone to a repeat of the 2007-09 crisis, but the law could be tweaked to make it better, say Brookings' Martin Baily and Aaron David Klein, director of the financial regulatory reform initiative at the Bipartisan Policy Center.

Wessel: Today’s Deficit Is Not the Problem

blogs.wsj.com — There are reasons to be relaxed about the federal deficit. But ... When the books closed on fiscal year 2014 on Sept. 30, revenues were up 9% and spending was up just 1%. Even Medicare grew slowly.

5 Reasons to Worry About Deflation

brookings.edu — The deflation scare is back, as Jon Hilsenrath and Brian Blackstone report on the front page of The Wall Street Journal. It's worth taking a moment to contemplate why deflation is such a bad thing. After all, falling prices sound appealing to consumers, especially compared with the alternative of higher prices.

5 Reasons to Worry About Deflation

blogs.wsj.com — The deflation scare is back, as Jon Hilsenrath and Brian Blackstone report on the front page of The Wall Street Journal. It's worth taking a moment to contemplate why deflation is such a bad thing. After all, falling prices sound appealing to consumers, especially compared with the alternative of higher prices.

Lousy Economic Growth Is a Choice, Not an Inevitability

brookings.edu — Some of this reflects unfortunate, enduring after-effects of the global financial crisis and the Great Recession. But the notion that all this is inevitable and economic policy has done all that it can do is defeatist and wrong. Take the U.S. and Europe.

Lousy Economic Growth Is a Choice, Not an Inevitability

blogs.wsj.com — The headlines are full of gloom about the world economy: " Global Slowdown Threatens Recovery," The Wall Street Journal warns. " Emerging markets slowdown fuels concern for global outlook: Unease that low growth has become 'the new normal,' " says the Financial Times.

The Fiscal Barometer

brookings.edu — Click small charts to enlarge. Mouse over large charts to view details. Tap for touch devices. The fiscal impact measure shows how much federal, state, and local government taxes and spending added to or subtracted from the overall pace of economic growth.

The Glass Ceiling is Getting Thinner

blogs.wsj.com — The glass ceiling is still there, but it's getting thinner. A trio of economists, wielding big data from Social Security's records, says that in 1981-85, women constituted just 1.9% of the top 0.1% of earners (based on average earnings for those years) and 5.2% of the top 1%.
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