October 22, 2014

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Tuesday, December 9, 2008 - 1:20 PM

A few weeks back we had our annual Economic Patriot Award Dinner, and among the short list of speakers (which included award recipient New York City Mayor Michael Bloomberg) was Yoni Gruskin, Executive Director of the youth advocacy group, Concerned Youth of America (CYA). A sophomore from The University of Pennsylvania, he gave an inspired and inspiring address that spoke to the timelessness of partiotism and an honest sense of American stewardship shared across generations. 

Whether its a new face, or the true face, Yoni put a good face on the idea of "youth outreach." Where many once read the term to mean an empowered generation of elders shaking up the silent and disaffected youth, this dynamic leader, not long out of highschool, redefined it as the youth reaching out to their seniors as if to say, "We're here, we've been listening, and we mean serious business." The enthusiasm and profesionalism of Yoni, his colleagues at CYA, and his peers at other youth organizations rising up around the country, all give us at Concord great comfort as the generation with the most at stake takes matters into their own hands. 

Check out a clip of his speech below.

--Stefan Byrd-Kreuger

... Read More
Thursday, December 4, 2008 - 1:42 PM

Executive Director Bob Bixby has a timely (in light of today's Congressional hearings) Op-Ed in this morning's Washington Post that analogizes congressional pressure on the big three automakers to come up with a sustainable, long-term business model, to the pressure that should be put on Congress to come up with a similarly forward-looking plan for the federal budget.

Here are some excerpts:

After hearings last month to consider the plight of the Big Three automakers, Congress's warning was clear: no plan, no bailout. It was a tough-love message, but it rang a bit hollow coming from lawmakers who have no plan of their own to avoid a fiscal debacle that could be many times more serious than anything the automakers face...

In these circumstances, it is worth asking what might be demanded of Congress by a special guardian appointed to safeguard the interests of today's youth. A good place to start is the letter written to the automakers by House Speaker Nancy Pelosi and Senate Majority Leader Harry M. Reid...

Pelosi and Reid...

Wednesday, December 3, 2008 - 4:28 PM

Congress has been developing a stimulus plan in recent weeks which it hopes will provide a much needed boost to the ailing economy. There has been a tendency to pin those supporting a large stimulus plan against those individuals deemed to be “deficits hawks.”

There are two points to make about this discussion. First, such a characterization assumes there are currently “deficit hawks” who are standing in the way of economic stimulus because of their concern for the short-term deficit--an assumption I consider dubious and at the very least is not an accurate description that people could make of The Concord Coalition based on our recent media interviews or policy briefs.

The second point is that setting up positions in this “debate” implies that short-term stimulus and long-term fiscal responsibility are contradictory goals. They are not, and we have attempted to make that clear.

In our most recent issue brief, we highlighted the important roles of short-term stimulus aimed at increasing aggregate demand in the interim and budgeting rules (like PAYGO) aimed at improving our longer-term future. These two problems should not be treated the same:

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Wednesday, November 12, 2008 - 4:33 PM

One of my tasks here at Concord as the Youth Outreach Director is to help design our website. Because of this, I am always looking for new ways to present our message and I pay close attention when Concord's message appears in the many different media publications our staff has the fortune of being featured and interviewed in. Readers can normally keep up-to-date on these appearances at our "Concord in the News" page for traditional print articles or by clicking on the "Video and Audio" section of that page for multimedia.

I got quite excited recently because something came along that didn't fit neatly into these categories. Concord Coalition Policy Director Josh Gordon was interviewed about the scale and the nature of our nation's fiscal challenge, as well as how we can go about addressing it, by an organization called FLYP Media. They have a new bi-weekly publication that is part magazine, part TV show, and part in-depth and content rich website for a well-designed and well-integrated, truly multi-media experience.

I think that experimenting with such innovation in getting information to the American public is a...

Wednesday, November 12, 2008 - 2:24 PM

Even though my job as Policy Director means I spend a fair amount of time sitting at my desk and staring at my computer, I also get to play "in the field" giving chart talks or running budget exercises. Earlier this month, I conducted a "Principles and Priorities" exercise at American University, and had a a wonderful "teaching moment" where I was able to link the hypothetical budget simulation to perhaps the primary fiscal policy debate that will surround President-Elect Obama as his administration sets their priorities.

In the exercise, students divide into groups and act like special congressional committees designated with making budget choices. They pick choices in four areas: domestic discretionary spending, defense and national security spending, taxes and revenues, and entitlements. Groups can either cut programs or increase taxes to reduce the deficit, or spend more on programs they consider important, or cut taxes to increase the deficit. At the beginning of the exercise they are supposed to develop a target goal for the deficit and by the end they add up their choices to see how they did. Because we are an organization that stresses fiscal responsibility, the students tend to think the more they can do to lower the...

Monday, November 10, 2008 - 11:33 AM

In the movie I.O.U.S.A., Warren Buffett affectionately labeled China “Thriftsville” in his parable about the dangers of the United States over-consuming and relying on foreign production and lending. The movie also introduced us to a young Chinese couple, who met each other while working in a light bulb factory. This couple boasts that "saving money is a Chinese tradition," and they save half of the $20-a-day they earn.

The problem is, in an economic downturn, increased saving can harm short-term economic activity. So, from the front page of the print edition of today’s Washington Post, we learn that China is apparently now pursuing more than half a trillion dollars in fiscal stimulus (emphasis added):

China on Sunday night announced an aggressive $586 billion economic stimulus package, the largest in the country’s history, at a time when it is struggling with increasing social unrest due to factory closings and rising unemployment.

In a wide-ranging plan that economists are comparing to the New Deal, the government said it would ease credit restrictions, expand social welfare services and launch an...

Wednesday, November 5, 2008 - 1:30 PM

The Concord Coalition congratulates Barack Obama on his victory in the presidential election. As we detailed in a recent issue brief, the challenges he faces are formidable. Let's hope that after a campaign lasting nearly two years, politicians, the public and the media will now turn to the crucial business of governing. On fiscal policy, it will help to suspend partisan preconceptions and focus instead on practical problem solving. Inevitably, there will be differences on the appropriate level of spending, taxes, and debt. However, these differences should be engaged in a spirit of cooperation and mutual respect with a healthy dose of fact-based analysis.

Three issues stand out: the economic downturn, the financial sector crisis and the federal budget's long-term unsustainability. While there are linkages among these issues--most specifically the debt increase all three portend--they represent different ailments and should thus be treated with different remedies. The Obama Administration will need to calibrate fiscal policy to accommodate these differences. Short-term stimulus need not and should not increase the long-term structural deficit, just as reducing the long-term...

Friday, October 31, 2008 - 3:17 PM

As the children get ready to trick or treat and those of us who are of-age get ready for a night (or weekend) of partying with friends, many Americans will keep to the tradition of telling haunting Halloween stories in the spirit of the holiday. While you may have planned to get a scary movie delivered to you by mail, or have fired up the computer and directed it to your streaming web-video service of choice, I suggest an alternative. 

For a truly terrifying tale, head to theaters to see the documentary I.O.U.S.A.. After showing at a series of film festivals, including the Sundance Film Festival, I.O.U.S.A. was released nationally on its first theater run on August 22nd, 2008. This initial run was so successful that theaters have asked to have it back, and tonight is the first night of a whole new batch of screenings!

At Sundance, one of the main genres highlighted this year was horror films. Yet, the L.A. Times dubbed I.O.U.S.A. the "most unexpectedly frightening movie in the festival." An...

Wednesday, October 29, 2008 - 12:47 PM

On Thursday, October 23rd, I spent the day at Fort Lewis College in Durango, Colorado (elevation 6,872 feet). The college is located about 25 miles north of the New Mexico and Colorado border and it is really one of the most beautiful places I have ever been.

My day was packed! I had an 8:00 a.m. presentation, a radio interview on KDUR, lunch and dinner discussions with students (who were all exceptionally bright), an afternoon presentation, and finally a screening of I.O.U.S.A.. My guides at the "Fort" were Professors Jennifer Stollman and John Gadbois.

The theme for the day was fiscal literacy. Both Professors Stollman and Gadbois are concerned that students are not being exposed to the implications of the long-term challenges our nation faces and that younger people are not being given the skills to be literate about fiscal issues. The professors had already traveled to Washington, D.C. for a presentation by Concord Chief Economist Diane Lim Rogersand the Heritage Foundation's Stuart Butler, and have been encouraged to focus on fiscal education by Acting President and Provostfor Fort Lewis College, Steve Roderick. I was thrilled that Provost Roderick joined us at most of the day's events.

During my morning presentation, I discussed the basics of the federal budget, the long-term challenges...

Wednesday, October 29, 2008 - 12:41 PM

There is a good article in the New York Times today, as part of their "If Elected..." series, that tries valiantly to add up the candidates' taxing and spending promises with an emphasis on their deficit implications. As a budget policy analyst, I know how tough such a task is during an election campaign, and empathize with any reporter who attempts to do so.

What I try to keep remembering to tell members of the media as I go through the numbers with them, is that the numbers are certain to change, and the candidates and their advisors know that, but what really matters is the commitment to fiscal responsibility once in office and what flexibility they have left themselves with, after the campaign ends, to alter their plans. 

Sometimes plans change because campaigns are two-year long processes, and the plans a candidate designed at the beginning, might no longer be what can be written into legislation and enacted once the campaign ends. I think that has clearly happened in the last couple months with the crisis in the financial markets.

Unfortunately, more often than...