Is the austerity crisis beginning?

Consumer confidence has begun to sour, suggesting that ordinary Americans are becoming more worried about how lawmakers will deal with the looming fiscal cliff.

The sequester’s defense cuts aren’t that scary, in one graph

The post-9/11 rise in military spending was larger than the rise during Vietnam and during the Cold War. And even if we implement every single cut in the sequester, the fall in spending would be less than the military experienced after Korea, Vietnam, or the Cold War.

By Ezra Klein November 20, 2012

Is this the deal that will end the austerity crisis?

In my conversations with the various players, I'm not hearing much concern about the austerity crisis. In fact, I'm hearing some confidence. December 21st, people keep saying. We'll have a deal by December 21st. And this is what it might look like.

By Ezra Klein November 20, 2012

To tax now or to tax later?

That is the question that's going to dominate Washington for the next month, and maybe for much longer than that.

By Ezra Klein November 19, 2012

Sorry, Washington: Tax reform won’t do much for growth

The Washington consensus on tax reform is that it'll solve all our problems: It slices, it dices, it cleans up after itself. But that’s not the economic profession’s consensus. If income tax reform solves any problem, it's a political one, not an economic one.

By Ezra Klein November 16, 2012

White House rejects Boehner’s tax deal

Many people thought we were seeing the outline of a deal: Republicans agree to raise revenues so long as they get the fig leaf of holding rates steady, or potentially even lowering them. The White House is saying the deal won't work.

By Ezra Klein November 14, 2012

Wonkbook: Obama’s $1.6 trillion opening bid

$1.6 trillion. That's President Obama's opening bid for the amount he wants to raise more in tax revenues on corporations and the wealthy over the next decade. It's twice what Boehner offered him in their private negotiations in 2011.

By Ezra Klein November 14, 2012