Links for 2011-06-13

Tue, 06/14/2011 - 00:19 EDT - EconBrowser

Some items I found interesting:

Tyler Cowen outlines what I see as the responsible approach to the U.S. federal fiscal challenges: slow the growth of government spending.
Some undergraduates at Rutgers University have developed a nice site to track economic indicators. And Bill McBride has an invaluable summary of which ones really matter.
From the Federal Reserve Bank of Boston: Oil and the Macroeconomy in a Changing World: A Conference Summary.
The Office of Personnel Management on shifting costs of Postal Service retirement funding to U.S. taxpayers.
And Glenn Reynolds warns beware of bimbots.

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U.S. Postal Service pension funding
The challenge of meeting pension payments is starting to put a huge burden on the San Diego and California budgets, leading many of us to regret that more voices weren't raised in objection at the time these commitments were quietly made years ago. For that reason, discussion this week of pensions for U.S. postal workers got my attention.
US Postal Service faces ruin without rescue from Congress, watchdog warns
US Postal Service to cut Saturday mail delivery as part of $2bn savings plan
Service expected to start cutback in August tha
Spending Cuts for the UK
(her majesty's publick domaine photougraphe or something)
New Republican fiscal cliff offer leans on steep spending cuts
WASHINGTON — Republicans proposed steep spending cuts on Monday but gave no ground on President Barack Obama’s call to raise taxes on the wealthiest in their first formal proposal to avert a “fiscal cliff” that could push the U.S. economy into recession. After days of stalemate, the Republican offer shows deep differences with President Barack Obama as the two sides work to head off across-the-board spending cuts and tax increases due to take effect in January.
CBO: "What Accounts for the Slow Growth of the Economy After the Recession?"
"CBO estimates that about two-thirds of the difference between the growth in real GDP in the current recovery and the average for other recoveries can be attributed to sluggish growth in potential GDP." From the newly released CBO report: In the current recovery, both potential GDP, a measure of the underlying productive capacity of the economy, and the ratio of real GDP to potential GDP have grown unusually slowly.
America’s Real Fiscal Problem: Federal Gov't Has Become a Gigantic Wealth-Transfer Machine
CONFIRMED: Rutgers Employee Who Exposed Abusive Coach Is Being Investigated For Extortion
Person familiar with situation to AP: FBI interested in ex-Rutgers employee Eric Murdock The FBI is investigating whether a former Rutgers basketball employee tried to extort the university before he made videos that showed ex-coach Mike Rice shoving and kicking players and berating them with gay slurs.
Ex-Rutgers Athletic Director Says He Wanted To Fire Coach Mike Rice Four Months Ago
Rutgers athletic director Tim Pernetti resigned today, three days after video of basketball coach Mike Rice abusing players went public. Pernetti saw the video back in December, but only suspended Rice for three games and fined him $50,000
Positive Economic Indicators From the Bottom-Up Tax Cut
The Good News Economist submits: Consumer spending makes up about 70% of the US economy. On April 1, 2009, low- and middle-income workers started seeing a bit more in their paychecks, thanks to the "Making Work Pay" tax credit in the federal recovery act. The tax credit is 6.2 percent of a taxpayer’s earned income with a maximum credit of $800 for a married couple filing a joint return and $400 for other taxpayers.

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Links for 2011-06-13

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