Economic Stimulus

January 2008

BNA's Web Watch is prepared by Laura Gordon-Murnane. E-mail suggestions for future weekly topics always welcome.

Federal Government

White House
President Bush Discusses Economy in Chicago, Illinois
Union League Club of Chicago
Chicago, Illinois

Congressional Hearings
Senate Joint Economic Committee
What Should the Federal Government do to Avoid a Recession ( Wednesday January 16, 2008)
Opening Statements: Senator Schumer's Opening Statement

Witnesses:
Dr. Lawrence Summers, Former U.S. Treasury Secretary  

 Lawrence Mishel, President, Economic Policy Institute

William W. Beach, Director, Center for Data Analysis, The Heritage Foundation

Charts and Data:
Real Oil and Gas Prices Approaching Record Highs

Housing Investment Has Dropped Sharply, Reducing Demand and Making Recession More Likely

The Unemployment Rate Jumped in December  

 This Bush Administration Ties First Bush Presidency's Weak Job Growth Record, Worst Since Herbert Hoover  

Credit Remains Tight for Noncomforming Loans

Private Job Growth Negative for First Time Since July '03

House Committee on the Budget
CBO's Long-Term Budget Outlook (Thursday, December 13, 2007)
Witness:
Dr. Peter Orszag
Congressional Budget Office

Web Casts (1 hours, 38 minutes):
Video (324mb) | Audio (24mb) 

State of the U.S. Economy and Implications for the Federal Budget (Wednesday, December 5, 2007)

Witnesses:
Dr. Peter Orszag Director Congressional Budget Office

Dr. Martin Feldstein George F. Baker Professor of Economics Harvard University and
President and CEO  National Bureau of Economic Research

Dr. C. Fred Bergsten Director Peterson Institute for International Economics

Web Casts (2 hours, 20 minutes):
Video (334mb) |  Audio (33mb)  

Congressional Budget Office
Options for Responding to Short-Term Economic Weakness, January 2008

The Long-Term Budget Outlook, December 2007  html  pdf  data

Federal Reserve
Chairman Ben S. Bernanke
The economic outlook - Before the Committee on the Budget, U.S. House of Representatives January 17, 2008

Beige Book (January 16, 2008)

Chairman Ben S. Bernanke
At the Women in Housing and Finance and Exchequer Club Joint Luncheon, Washington, D.C.
January 10, 2008  “Financial Markets, the Economic Outlook, and Monetary Policy”

Boston Federal Reserve
A Historical Perspective on Housing Downturns
by Eric S. Rosengren, President & Chief Executive Officer
Connecticut Business and Industry Association’s 2008 Economic Summit and  Outlook
Hartford, Connecticut
January 8, 2008
Complete speech, with exhibits

Philadelphia Federal Reserve
The Economic Outlook and the Fed's Roles in Monetary Policy and Financial Stability
Presented by Charles I. Plosser, President and Chief Executive Officer
Federal Reserve Bank of Philadelphia Main Line Chamber of Commerce Economic Forecast Breakfast
(January 8, 2008)

St. Louis Federal Reserve
Federal Reserve Bank of St. Louis President William Poole Speech (January 9, 2008)

International Organizations

United Nations
World Economic Situation and Prospects 2008

Global Economic Outlook Data
Executive Summary

World Bank
Global Economic Prospects 2008 - Overview
Full Text
Prospects for the Global Economy - Global Economic Prospects 2008
A companion website, providing full details on the macroeconomic forecast included in Chapter 1 of the report

Nongovernment Organizations

American Chamber of Commerce
State of American Business 2008
Report
Watch the Press Conference
Watch Outlook 2008: State of American Business
Read the Speech
Press Release: Donohue Warns Against Impediments to Prosperity

American Enterprise Institute
Fine in 2009 (Not So Great in 2008)
By John H. Makin Posted: Thursday, January 3, 2008 ECONOMIC OUTLOOK AEI Online   Publication Date: January 3, 2008

Brookings Institute
Event: If, When, How? Prospects for Fiscal Stimulus in the U.S. Economy (January 10, 2008)
Thursday, January 10, 2008
10:00 AM to 12:00 PM
http://www.brookings.edu/events/2008/0110_fiscalstimulus.aspx
Background
Risks of Recession, Prospects for Policy by Lawrence H. Summers (December 19, 2007)
Recession: Not if Exports Save Us? by Jason Furman
What Should be Done to Help Households Facing Foreclosure? by Douglas W. Elmendorf

Center for American Progress
Economic Snapshot for January 2008
By Christian E. Weller 

Center for Economic and Policy Research
The Need for an Economic Stimulus Package January 2008, Eileen Appelbaum, Dean Baker and John Schmitt 

Dean Baker, Trade and Inequality: The Role of Economists (January 2008)
Conference Presentation

Center on Budget and Policy Priorities
ECONOMIC POLICY IN A WEAKENING ECONOMY: Principles for Fiscal Stimulus (January 17, 2008)
By Chad Stone and Kris Cox

THE FOUR PIECES OF EFFECTIVE FISCAL STIMULUS:
UNEMPLOYMENT INSURANCE, STATE RELIEF, FOOD STAMPS, AND TAX REFUNDS (January 14, 2008)

ANOTHER MISDIAGNOSIS: Marginal Rate Reductions and Extensions of Tax Cuts Expiring in 2010 Not the Right Medicine for the Economy’s Current Ills
By Aviva Aron-Dine (January 15, 2008)

Statement By Chad Stone, Chief Economist, On The Labor Department's December Unemployment Report ( Wednesday, January 4, 2008)

Budget Cuts or Tax Increases at the State Level: Which is Preferable During an Economic Downturn? By Nicholas Johnson  (January 8, 2008)

Economic Policy Institute
Strategy for Economic Rebound—Smart Stimulus to Counter the Economic Slowdown. January 11, 2008 | EPI Briefing Paper #210  

Job market flashing recession
by Jared Bernstein with research assistance from James Lin (January 4, 2008)

Stimulus 101
By Jared Bernstein (January 7, 2008)

Morgan Stanley
Is Recession Now in the Price?
January 07, 2008
By Richard Berner & David Greenlaw | New York

2008: The Year of Recoupling
January 03, 2008
Global Economics Team

National Bureau of Economic Research
Business Cycle Dating Committee, National Bureau of Economic Research  J(anuary 7, 2008)

The NFIB Research Foundation
Small-Business Economic Trends - January 2008 (184 KB, PDF)
01/ 08/ 2008