Dean Baker
Dean Baker
Dean Bakeris an American macroeconomist and co-founder of the Center for Economic and Policy Research, with Mark Weisbrot. He has been a senior economist at the Economic Policy Institute and an assistant professor of economics at Bucknell University. He has a Ph.D. in economics from the University of Michigan...
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If home prices level off, that can knock down growth by 1 or 2 percentage points, from 3.5 percent to 1.5 percent.
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In terms of people's lives, let's say someone had a reasonably good job in the tourism industry, they're not going to wait around a year and half or two years for their job to come back. What's there when it (the Gulf economy) comes back might be qualitatively different than what it was before.
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The idea that we have to make cuts imminently because of the Baby Boomer generation is simply not true. We knew about Boomers and adjusted the program accordingly. Greenspan is really off the mark.
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The trustees' projections continue to show that the major threat to the economic well-being of future generations is rising health-care costs.