Welcome

Welcome to the learning community designed and managed by Ms. Rita Callahan, instuctor of economics and mathematics. Most of you are current or former students from my classes. I trust you will enjoy this attempt to connect our studies to the real world. From time to time I will make observations on my experiences and things I read. I hope you will comment and add your observations as well.


There is much to learn form others, especially those whose experiences may differ from our own. As I mention elsewhere in this blog, this is my attempt to incorporate 21st century learning formats into the educational experience of my students. Perhaps this will invite some interesting discussions.





Wednesday, March 28, 2012

Macroeconomics - fises for economic growth

I read an online report that two prominent, independent, credible economists actually agreed on some fixes for the US macroeconomy! The main point of agreement was that the Bush tax cuts need to fade away. I felt vindicated when I read that they agreed these cuts were ill-advised when passed. During the election campaign of 2000, I maintained that retuning the surplus to the public was not the best economic choice. I actually like the idea of Gore's lock box for social Security and Medicare at the time it was proposed. Looking back many who disagreed will probably admit in hindsight that would have been a better chlice. (Please pardon my spelling; I'm quite dependent on spell check!)

To make my position stronger, I will share that our family has benefited nicely from said tax cuts. These past few years we actually received refunds instead of the normal additional due in April. I am actually arguing against a tax measure that benefits me personally. Why is this? I am concerned about the US economy. I understand the eventual threat of a debt run wild, but I fear a relapse into another recession. While a return to a higher tax rate will pinch in April, another deep recession will demolish my life savings. The trade-off is not negative.

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