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Articles

My Abundance Agenda

6 days ago | cepr.net | Data Bytes |Dean Baker |Julie Yixia Cai |Emma Curchin

Since “abundance” is apparently the in-thing, I thought I should get in on the act. At the onset, I will admit I don’t have much new to offer to those familiar with my writings, but sometimes a repackaging is useful. I have my usual favorites:Patent and copyright monopolies,The bloated financial sector,The corrupt corporate governance structure,Protection for doctors and other highly paid professionals.
Mad Money: The Markets are Angry at Donald Trump

2 weeks ago | cepr.net | Data Bytes |Dean Baker

When he was elected last fall, Donald Trump was the darling of the business community. He promised to get rid of pesky regulations that protect consumers from fraudulent business practices. His sidekick, Elon Musk, even pledged to “delete” the Consumer Financial Protection Bureau. Trump also promised to get rid of annoying environmental regulations. If companies want to put cancer-causing substances in people’s food, air, and water, his administration would not stand in their way.
No Taxes for Guys Named Joe: Exempting Overtime from Taxation

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.
SNAP Benefits and Higher Wages

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.
Preview: What to Look for in the April 2025 CPI

3 weeks ago | cepr.net | Data Bytes |Dean Baker

In March, the overall CPI fell by 0.1 percent, as a 6.3 percent plunge in gas prices was sufficient to make the CPI fall for the month. The core CPI rose just 0.1 percent, as a sharp fall in airfares, coupled with declines in prescription drug prices, auto insurance, and used car prices, held the index down. For the last 12 months the overall index was up 2.4 percent, while the core index was up 2.8 percent.
Ecuador News Round-Up No. 22: Analyzing Noboa’s Surprise Victory

1 month ago | cepr.net | Data Bytes |Pedro Herrera |Greg Grandin |Mark Weisbrot

President Noboa Wins the Runoff ElectionOn April 13, incumbent President Daniel Noboa, with 55 percent of the vote, defeated progressive candidate Luisa González (with 44 percent of the vote) in the presidential runoff election. The results surprised both camps, as neither had anticipated Noboa’s decisive 11-point victory over González.
Unemployment Stays at 4.2 Percent; Economy Adds 177,000 Jobs in April

1 month ago | cepr.net | Data Bytes |Dean Baker |Sylvia A. Allegretto

The unemployment rate stayed at 4.2 percent in April, keeping it in the narrow 4.0-4.2 percent range it has been in since May of last year. The job growth in the establishment survey was also solid at 177,000, although the previous two months’ numbers were revised down by 52,000. As in prior months, health care was by far the leading job gainer, adding 50,600 jobs. State and local governments continued to be big job gainers, together adding 19,000 jobs.
Trump Attacks Leading Export Sector: Tourism and Universities

1 month ago | cepr.net | Data Bytes |Dean Baker

Donald Trump claims to be concerned about the trade deficit, which according to him is a story of other countries ripping us off. As many of us have explained, the trade deficit is simply a story of other countries selling us more than they buy from us, sort of like the relationship most of us have with our neighborhood supermarket. But logic never meant much to Donald Trump. Arithmetic also doesn’t seem to mean much to him.
April 2025 Jobs Preview: What to Expect

1 month ago | cepr.net | Data Bytes |Dean Baker |Sylvia A. Allegretto

The 228,000 job growth reported for March was considerably higher than most analysts had expected. It was accompanied by downward revisions of 48,000 to the prior two months’ data, so the net job growth was not quite as large as it first appeared. But there is no doubt that the labor market was still looking strong last month. The headwinds that we were looking at before the March report are still there and almost certainly stronger now.
Consumer Confidence and Its Impact on Spending

1 month ago | cepr.net | Data Bytes |Dean Baker

Since Donald Trump took office and embarked on his strategy of slashing government and hugely increasing import taxes (tariffs), measures of both consumer confidence and business expectations have fallen through the floor. We have seen the same pattern virtually everywhere, with many measures falling below levels seen in the pandemic and the Great Recession.