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A recently published working paper from the San Francisco Fed shows that the fiscal multiplier of infrastructure spending is much larger than the typical government spending multiplier. Sylvain Leduc and Daniel Wilson studied the effect of unexpected infrastructure grants on state GDPs (GSPs) since 1990 and found that, on average, each dollar of infrastructure spending increases the GSP by at least two dollars .
The shooting death of former Navy SEAL Chris Kyle , an advocate for veterans' mental health, has pushed the problem of post-traumatic stress disorder among American troops to the fore. Kyle, who was known as America's deadliest sniper, was killed Saturday at a gun range in Erath County, Texas. The suspect, identified by police as 25-year-old Eddie Ray Routh, is a veteran who served in Iraq and Haiti and who police say may have been suffering from some type of mental illness from being in the military.
An economist explains why the conservative argument that high corporate taxes and burdensome regulation are preventing businesses from hiring an prolonging the recession is false. It begins with his TV appearance with someone from the Heritage Foundation: A couple of hours after talking to an ABC correspondent about the woeful job numbers and what might be done to improve them, I was in the Bloomberg TV studios debating a guy from Heritage. He went on for several minutes about the damage being done by high taxes, excess regulation, business “uncertainty” about future tax hikes and regulatory burdens. I asked Bloomberg’s host whether he was aware that corporate profits relative to national income had just hit a 60-year peak? He had heard rumors to that effect.
This is adapted from Mueller and Stewart's new Terror, Security, and Money: Balancing the Risks, Benefits, and Costs of Homeland Security . Read earlier pieces about why the government refuses to subject homeland-security spending to cost-benefit analysis and how the government overestimates the risk of terrorism. John Mueller and Mark Stewart Is it possible to measure the risk of terrorism?
The true cost of 9/11: Trillions and trillions wasted on wars, a fiscal catastrophe, and a weaker America. - By Joseph E. StiglitzThe 9/11 attacks led to two wars and out-of-control U.S. spending The Sept. 11, 2001, terror attacks by al-Qaida were meant to harm the United States, and they did, but in ways that Osama Bin Laden probably never imagined. President George W.
The enemy looks friendly and unpretentious. With his scuffed shoes and thinning gray hair, John Taylor resembles an elderly sociology professor. Books line the dark, floor-to-ceiling wooden shelves in his office in Manhattan, alongside a bust of Theodore Roosevelt and an antique telescope.