Tag Archives: fiscal policy

Macroadvisers: MA’s Alternative Scenario: March 1 Sequestration

Here is a summary of a macroeconomic model’s prediction of March 1 sequester effects (from Macroeconomic Advisers LLC):

MA’s Alternative Scenario: March 1 Sequestration

 

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Fiscal anxieties, the potential for sequester, BCA 2011

In one of the posts I made in the review discussion I wrote a bit about sequestration (the current version, scheduled for Jan. 2), which originates in the Budget Control Act of 2011 (which in turn reactivates GRH I (1985) in some portions).  The potential for real consequences of the type envisioned in GRH I and II has never been as likely at such a scale.  As soon as the elections are over, you can anticipate hearing a lot more in the news about last-ditch efforts to address this looming deadline and other tax/spending deadlines that happen to overlap with it.  I would say you were fortunate to be taking this class in such interesting budgetary times, if we didn’t also have to live through them.

Here are some more backgrounders/perspectives  on upcoming budgetary and fiscal policy issues:

More general: Brookings Institution – The “Fiscal Cliff” issue – includes not only the sequester deadline but also other tax and spending policies of various partisan origins which have critical dates at the end of this year (AMT tinkering deadline; Bush tax cut expiration; Affordable Care Act coming into play; expiration of payroll tax cuts) – all coming on top of a weak economy barely recovering from the Great Recession:  http://www.brookings.edu/research/opinions/2012/09/26-fiscal-cliff-frenzel

Specific to sequester:

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FYI: Good publication from Brookings on Federal budget outlook

Here’s the link.  Gale and Auerbach have been studying federal public finance and budgeting for years and are very credible sources of non-partisan, academic insight on the topic.

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