From 2016 through 2020, wages crept upward at thousands of McDonald’s in the U.S. The McDonald’s response, though, is not quite what economists would have expected. The (Surprising) Minimum Wage Impact Traditional economic theory suggests that employers respond to an…
Through massive pandemic aid, the 2020 CARES Act ballooned the federal deficit. With spending far exceeding revenue, the difference was $2.8 trillion: Now, President-elect Biden has proposed a new $1.9 trillion relief package. It includes payments to Americans who…
Economic forecasting can frequently be inaccurate because of changing numbers and human bias or, as Yogi Berra reputedly said, “It’s tough to make predictions, especially about the future.”
It is tough to be a deficit hawk. Rather than our typical spike in wartime spending, we have a peacetime deficit. (Please note that the federal deficit is just how much spending exceeds revenue during one year.): Spending for……
There is probably a tradeoff between health insurance and the demand for jobs. During 2005 in Tennessee, the demand for jobs increased when 170,000 people lost their Medicaid health insurance coverage. Researchers call that jobs/health insurance tie, the “employment lock.” Looking at…
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