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3 weeks ago | 
cepr.net | Data Bytes |Dean Baker |Algernon Austin
No one ever accused Donald Trump of knowing much about the economy. That fact comes through loud and clear in his tax cut proposals. In addition to his big tax cuts for corporations and rich people, Trump also pushed his “populist” tax cuts. These were exempting tips, Social Security, and overtime pay from taxes, and also making the interest on auto loans tax deductible.
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3 weeks ago | 
cepr.net | Data Bytes |Dean Baker |Algernon Austin |Hayley Brown
There has been much reporting this week on the harm that will be done to many low and moderate-income families from Republican plans to cut benefits in the Supplemental Nutrition Assistance Program (SNAP). The Republican plans seem to center largely on creating bureaucratic obstacles that will make it more difficult for many families to claim and keep benefits. These plans, if allowed to go into effect, will mean serious hardship for tens of millions of families over the next decade.
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2 months ago | 
cepr.net | Data Bytes |Jordan Billings |Dean Baker |Algernon Austin
By the Trump administration’s haphazard design, the federal government is in chaos. Federal workers are being fired without cause or due process, most of them recent hires and many working jobs not easily found – if found at all – in the private sector. Those losing their jobs are being told that they have failed to show that their employment would be in the public interest. The effects are widespread.
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2 months ago | 
cepr.net | Data Bytes |Dean Baker |Algernon Austin |Jordan Billings
The overall CPI rose 0.5 percent in January, while the core rose 0.4 percent. This put the year-over-year increases at 3.0 percent and 3.3 percent, respectively. The overall CPI outpaced the core because both food and energy inflation were faster than core inflation. The index for store-bought food rose 0.5 percent in January, a sharp increase from the rate of inflation in prior months. Over the year to January, food prices rose just 1.9 percent.
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Mar 7, 2025 | 
cepr.net | Data Bytes |Dean Baker |Algernon Austin |Jordan Billings
The health care sector added 52,000 jobs in February, accounting for more than one-third of employment growth in the month. This figure was in line with most expectations and indicates that federal layoffs and contract cancellations have not yet had a substantial impact on overall employment growth. However, it is worth noting that a drop in hours in January, which was thought to be related to weather and the Los Angeles fires, was not reversed in the February data.
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Mar 4, 2025 | 
cepr.net | Data Bytes |Dean Baker |Algernon Austin |Jordan Billings
The February employment report is the first of the Trump administration. While we are not likely to pick up much of the effect of the DOGE cuts, we should see some impact. Remember, the reference period is the week/pay period that includes the 12th. This is before most of the firings went into effect, and there was no noticeable uptick in the unemployment insurance claims at that point (although we did see an uptick later in the month). However, we are likely to see an effect on the hiring side.
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Feb 24, 2025 | 
cepr.net | Data Bytes |Dean Baker |Algernon Austin
When thinking of what Elon Musk and his DOGE gang are doing it is worth remembering that the crypto coin DOGE was started as a joke. Elon Musk seems to be going back to these roots with his DOGE gang running around trying to dismantle government agencies. To put a couple points on the table: Making government more efficient is certainly a worthwhile goal. We spend $7 trillion a year, surely there is some waste that can be eliminated.
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Feb 14, 2025 | 
cepr.net | Data Bytes |Dean Baker |Algernon Austin |Emma Curchin
The news has been filled with stories in recent days about Republicans desperately hunting for $2.0-$2.5 trillion (2-3 percent of the budget) in budget cuts over the next decade to cover the cost of extending tax cuts to the rich. While Elon Musk and his DOGE team have been screaming about corruption all through the government, they actually have found little that can be helpful here. They appear to have found virtually nothing by way of actual corruption.
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Feb 12, 2025 | 
cepr.net | Data Bytes |Algernon Austin |Jordan Billings |Dean Baker
When Donald Trump was born, the federal government workforce made up 4.5 percent of all nonfarm workers (Figure 1). Today, the federal workforce makes up only 1.5 percent. This is a massive two-thirds reduction from Trump’s birth year. Contrary to the claims of Trump, Elon Musk and others, the real problem with the federal government is that it is too small to properly secure the health, safety, and overall well-being of the people of the United States.
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Jan 10, 2025 | 
cepr.net | Data Bytes |Dean Baker |Algernon Austin
The unemployment rate edged down to 4.1 percent, reversing the small rise in November. The unemployment rate has remained in the narrow range between 4.0 percent and 4.3 percent since May. The 256,000 job gain in the establishment survey was more than had generally been expected. The sharp slowing of immigration in the summer has apparently not had an effect on job growth yet.
