Jeffrey Frankel

As a Budget Storm Gathers, Bush Ignores Fiscal Forecasts

Ever since the Bush administration came to office in January 2001, it has repeatedly expressed overly optimistic views of the future. No sooner are the sunny pronouncements out of their mouths, it seems, that disaster strikes.This may be the first president who bases the defense for his performance on all the bad things that have happened on his

Bush’s Jobless Economic Recovery: Workers Pay Price for Productivity

From recent news reports, the American economy might appear to be in great shape. The estimated rate of growth in GDP in the third quarter was a very strong 8.2%, and the Dow Jones climbed back above 10,000 last week. The economic recovery now seems genuine. Furthermore, forecasts are for growth to continue strong, in the vicinity of 4%,

Bush’s Tax-Cut Policy Is a Bad Investment

What exactly is the Bush administration trying to accomplish with its economic policy? The answer least likely to be correct is the one implied by the name of the recently passed tax-cutting bill, “Jobs and Growth Act.” The phrase suggests that the bill aims to stimulate economic demand, thereby boosting growth and, especially, employment from