Wednesday, February 20, 2013

Blogging will be light this week

We're going skiing with the family, in what I hope becomes an annual tradition. And in the meantime, if the sequester hits, I won't be worried at all. It's only a very small portion of total government spending, which is already way too big. A little austerity on the spending side is overdue: way past time for the federal government to tighten its belt. The rest of the country has been doing that for years now.

6 comments:

Dr William J McKibbin said...

I am all for the sequester cuts, which are a good down payment toward the overall 40% cuts needed to balance the Federal budget.

sgt.red.blue.red said...

Looking forward your post of a 360 degree panoramic photo from the slopes...

Unknown said...

So true.

I'm one of the people who thinks the military cuts are especially overdue.

Now if we could just hack away at Medicare Part D.

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Benjamin said...

Cleveland Federal Reserve Bank’s updated estimate of 10-year expected inflation: only 1.53%

From Dr. Perry.

Inflation?

The real risk now is zero bound.

Stay tuned...

Benjamin said...

"The Consumer Price Index for All Urban Consumers (CPI-U) was
unchanged in January on a seasonally adjusted basis, the U.S. Bureau
of Labor Statistics reported today. Over the last 12 months, the all
items index increased 1.6 percent before seasonal adjustment."

This is a microscopic rate of inflation; and if right-wingers Don Boudreaux and Carpe Diem Perry are correct, the CPI actually overstates inflation.

Where is the inflation that so worried some observers?

Instead I am seeing perma-ZLB sitting up shop....