Word: burtless
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...going back to 1960. No one wants to. But the two-parent household has rebounded recently—among the college-educated. Since the 1980s, divorce among them has fallen by 30 percent. Meanwhile, it has risen among the less educated by about six percent. Gary Burtless, an economist at the Brookings Institute, calls this difference a main driver of economic inequality. Why the two-parent household has become more popular among the college-educated and less so among other demographics is an important question—not a distraction...
...GARY BURTLESS: The short-term stimulus has undoubtedly helped reduce the severity of the recession, and it has helped buoy consumer spending. I would have to agree with Ed, though, that after three or four years, we're going to see a slowdown in the rate of growth...
...BURTLESS: Whether the tax cuts were well structured depends crucially on your view of the sunset provisions. The way the tax law is written, many of the cuts come to an end, but suppose they were made permanent. If you look ahead 40 years, taking into account the growth in Medicare, Social Security, Medicaid, we have the deficit at 4% of GDP. About 60% of that is due to the tax reductions of the first three years of this Administration...
...BURTLESS: Yes, it was a mistake. The policy stance of the 1990s, of budget stringency and monetary ease, was better for the growth of potential...
...BURTLESS: I question the statement that we are not going to have particularly strong growth. Something goes on that affects total factor productivity growth, and we don't fully understand it. Fiscal and monetary policy in the '90s made it cheaper for businesses to finance investments in productivity. But it was way beyond any economic model to predict...