Word: romers
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Dates: during 2000-2009
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...exact science, most academics agree that the term refers to anyone earning between $30,000 and $100,000 a year. (Median household income in the U.S. hovers around $50,000.) Every member of the President's task force - from Biden ($227,000) to Council of Economic Advisors Chairwoman Christina Romer ($172,000) to Energy Secretary Steven Chu ($191,000) - makes well over $150,000, putting them in the top 5% of wage earners. (See pictures of crime in Middle America...
...Christina Romer? What was that all about? Too bad that's one secret Miron will never tell...
According to the Romer-Bernstein report, the effects of this plan will last until late 2011, with unemployment still 1.5 percent higher than the natural rate. This stimulus package could define the first term of Obama’s presidency—there is no margin for error...
...aren't important. We're in a death spiral: businesses are shedding workers at a record pace, which saps consumer spending, which leads to more layoffs, and so on. The public sector needs to get an awful lot of unemployed workers and equipment back to work ASAP. As Christina Romer, an expert on the Depression who will chair Obama's Council of Economic Advisers, warns in a new YouTube video, we can't "let that vicious cycle go all the way to the nightmare scenario." In fact, many Keynesian liberals have been dismissing the Obama proposal as overly timid...
...cuts have the advantage, though, that they can be put in place quickly. There's also the more ideological, if still possibly valid, argument that they don't encourage the growth of bureaucracy. And recent empirical research - some of it by Christina Romer, the University of California, Berkeley, economist who will be chairwoman of Obama's Council of Economic Advisers - indicates that tax cuts have been quite effective as stimulus in the past. All of which helps explain why 40% of the Obama stimulus consists of tax reductions...