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 Unemployment Alarmism From a Times news article by Catherine Rampell, who should know better:
 The Magma Chart That is quite a chart of the Federal Reserve's balance sheet up at the New York Times's Economix blog. Growth and Demographics The New York Times's Catherine Rampell had a dispatch over the weekend making the same point we made here Friday — that growth and the debt/deficit problems are related. She got into the demographic differences between America's postwar growth boom and today, writing, "the structure of America's federal spending is different now than it was in, say, the immediate postwar decades. Back then, growth helped to erase the debt. But remember that in the 1950s, the United States didn't have Medicare. The population was younger, and Americans didn't live as long." She wrote that "whatever Washington does, many economists say the situation will grow only worse, particularly as Americans age and Medicare costs spiral higher." (Emphasis added.) Unemployment Alarmism From a Times news article by Catherine Rampell, who should know better:
Growth and Demographics The New York Times's Catherine Rampell had a dispatch over the weekend making the same point we made here Friday — that growth and the debt/deficit problems are related. She got into the demographic differences between America's postwar growth boom and today, writing, "the structure of America's federal spending is different now than it was in, say, the immediate postwar decades. Back then, growth helped to erase the debt. But remember that in the 1950s, the United States didn't have Medicare. The population was younger, and Americans didn't live as long." She wrote that "whatever Washington does, many economists say the situation will grow only worse, particularly as Americans age and Medicare costs spiral higher." (Emphasis added.) The Magma Chart That is quite a chart of the Federal Reserve's balance sheet up at the New York Times's Economix blog.
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