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My column today on the progressive argument over deficits and the national debt doesn't include a good chunk of wonky background research that might be of interest to nerds on the Internet (and really, is there anyone else out there?). Here are some good primary sources for learning more about this issue:
- A Path to Balance: The Center for American Progress' deficit reduction proposal, which is mainly procedural. An attempt to establish a path to fiscal sustainability, preempt conservative arguments about free-spending liberals and reassure financial markets, and China.
- Budgeting for Recovery: The Economic Policy Institute's Josh Bivens has authored an argument for bigger short-term deficits to bring us out of the recession faster and minimize long-term losses of productivity and growth.
- Red Ink Rising: This Pew-Peterson Commission report offers you the conventional wisdom among the centrist deficit hawk set. Worth reading with a skeptical eye, but at least they're saying that revenue measures need to be included as well.
- Mid-Session Reviews: The most recent budget projections from the White House Office of Management and Budget and the Congressional Budget Office. For getting serious.
- Alternative Policy Options: The CBO puts out this report, which itemizes different ways to change the budget that would cut the deficit. Want to increase all income tax rates 1 percent? Raise $454 billion over 10 years. Cut agricultural subsidies by 1 percent? Save $593 million over 10 years. That sort of thing.
Get ready for more Annotations as a regular feature (suggest potential topics in the comments). Think of it as a more focused replacement for the much-loved (?) Think Tank Round-Up.
-- Tim Fernholz
