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

Family support or school readiness? Contrasting models of public spending on children's early care and learning

brookings.edu — In the United States, public policy and expenditure intended to improve the prospects of children from low-income families have focused on better preparing children for school through Head Start and universal pre-K. This school readiness approach differs from the dominant model of public support for early care and learning in Northern Europe, which places more emphasis on supporting families.

Why we made a computer game about the federal budget

Can you fix the debt? Play 'The Fiscal Ship' at Brookings

brookings.edu — Fact-checking journalists and spreadsheet-wielding advocates of fiscal responsibility challenge those assertions, but reach a small slice of the population. So we asked: What else can be done to communicate the scale and scope of the debt problem? To start with, we made a game.

Hutchins Roundup: Defense spending, unconventional monetary policy, and more

brookings.edu — Using a new panel dataset of annual federal defense contracts at the state level, Bill Dupor of the Federal Reserve Bank of St. Louis finds that aggregate and local multipliers differ dramatically because of spillovers across states, indicating that local multipliers alone do not provide useful information about the aggregate effects of policy.

What New Rules on Inversions and Fiduciary Duties Remind Us About November

blogs.wsj.com — David Wessel is director of the Brookings Institution's Hutchins Center on Fiscal & Monetary Policy and a contributing correspondent to The Wall Street Journal. He is on Twitter: @davidmwessel. Remember all those obituaries for the Obama presidency, the premature ones that predicted he would get nothing done in the eighth year of his presidency because of a recalcitrant Congress?

Should we make automatic stabilizers bigger and better before the next recession?

brookings.edu — Automatic stabilizers-mechanisms built into the federal budget that increase spending or decrease taxes when the economy slows without any vote from Congress-- are a major tool the government uses to respond to recession. For instance, spending on unemployment compensation automatically increases when there are more people out of work.

Six ways the Federal Reserve could respond to the next recession

brookings.edu — If another recession hits, does the Federal Reserve have any tools left to bring the economy back to growth and stability? Or has it run out of ammunition? Jon Faust of Johns Hopkins University argues that, with short-term interest rates still near zero, the tools the Fed has used in the past Fed's tools may not be as powerful or effective as usual.

In CBO's projections, a growing reason to worry about the federal debt

brookings.edu — Convincing Americans that they should worry about the federal deficit and debt is tough, despite all those warnings about the inevitable crisis. The federal debt, the sum total of all the government's past borrowing, is huge by historical standards: bigger as a share of the economy than at any time in U.S.

In CBO’s Projections, a Growing Reason to Worry About the Federal Debt

blogs.wsj.com — David Wessel is director of the Brookings Institution's Hutchins Center on Fiscal & Monetary Policy and a contributing correspondent to The Wall Street Journal. He is on Twitter: @davidmwessel. Convincing Americans that they should worry about the federal deficit and debt is tough, despite all those warnings about the inevitable crisis.

AutoStabilizers to Fight Next Recession?

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