Raising The Minimum Wage, As President Obama

Fewer People Working Means Permanently Lower Tax Revenues.

I Think Where I Differ A Little Bit, We Absolutely Have To Think About The Deficit Looking Down The Road. And Certainly That's Something The President Has Said That We Need To, As The Economy Recovers, Have A Plan In Place For Getting It Down.

In The Four Decades After World War Ii, Manufacturing Jobs Paid More Than Other Jobs For Given Skills. But That Is Much Less True Today. Increased International Competition Has Forced American Manufacturers To Reduce Costs. As A Result, The Pay Premium For Low-skilled Workers In Manufacturing Is Smaller Than It Once Was.

Our Estimates Suggest That A Tax Increase Of 1 Percent Of Gdp Reduces Output Over The Next Three Years By Nearly 3 Percent. The Effect Is Highly Significant.

As A Former Member Of President Obama's Economic Team, I Have A Soft Spot For The Fiscal Stimulus Legislation He Signed Just A Month After His Inauguration.