June 21, 2013

Rasmussen on CBO

Economist Eric Rasmusen responds to the Congressional Budget Office's optimistic assessment of the fiscal effects of Schumer-Rubio.   

17 comments:

Anonymous said...

Jack Reacher, Killer Joe, Killing Them Softly, The American, etc.

Lone male drifter killer as social critic.

Something going on?

Anonymous said...

There is a much simpler way to deal with this. What the immigration enthusiasts are arguing is that the health of the economy requires an immigration policy that requires the Native Born White American Majority to be rapidly reduced to racial minority within the borders of the US... 2)and requires the US to go into a state of hyper-exponential population growth which will threaten the very ecological life support system of the economy and the US. So, if you want to engage in a knock down econometric-economic theory debate with the immigration enthusiasts, you are engaging in a debate whose terms of debate as defined by the enemy are fundamentally dishonest and insane..it really is an insane debate which you should not participate in.

If Native Born White Americans become a rapidly dwindling racial minority within the borders of the US, what is the probability that the Hindus,Pakistanis,Iranians in California and Koreans in NJ are going to participate in a debate about whether or not the health of the "US" economy requires a White American Majority again as soon as possible? I reckon the probability would be exactly 0.

So don't particpate in this insane and dishonest debate. There should never be an economic reason for race-replacing the Native Born White American Majority and causing ecocide.

I really do hope you read William Leach's book:"the Destruction of Place". All of Bill Kauffmans' essays focus on the theme of the destruction of place..the destruction of the local...by the current very pathological economic system.

The rock bttom issue behind the very open policy of race-replacing the Native Born White American Majority is the stark raving fear that the Greedy very Wealthy have about severe labor scarcities. And I can tell you that labor scarcities are wonderfull things. And if anyone here thinks they are ever a bad thing..they have opened up the window for an economic case for making Native Born White Americans a racial monority within the borders of the US. Don't play this game.

Bill Blizzard and his Men

Anonymous said...

OT:

I've been watching the NBA playoffs and finals this year after not really following the NBA much since the 90s.

I've noticed that they now regularly feature multiple black commentators despite them being horribly inarticulate and sounding stupid in general. Back in the 90s/early 2000s, they would have like one black commentator who would be inarticulate and sound stupid but since there would just be one it wouldn't gum up the presentation too much.

Now I guess the execs don't even care, perhaps they assume the audience is too dumb to care, or I guess the execs think not appearing racist is more important or something.

I've also heard that the white fan base for the NBA may have declined. I suppose this would explain the black-oriented commercials and the fact that much of the NBA playoffs is aired on cable TV.

Have you noticed any of this?

wren said...

Yup, the CBO writers are being blackmailed by the administration

Prove me wrong.

Corn said...

Apologies for being OT, but there was an article in today's NYT, "Who is Latino?" which states that surveys indicate nearly half of third generation Latinos identify as "American".
Wow! After 3 generations here, a whopping nearly half of Latinos will call themselves American. That's reassuring. Sorry, had to vent.

JeremiahJohnbalaya said...

The Internal Revenue Service sent 23,994 tax refunds worth a combined $46,378,040 to “unauthorized” alien workers who all used the same address in Atlanta, Ga., in 2011, according to the Treasury Inspector General for Tax Administration (TIGTA).

That was not the only Atlanta address ..

The IRS sent 11,284 refunds worth a combined $2,164,976 to unauthorized alien workers at a second Atlanta address; 3,608 worth $2,691,448 to a third; and 2,386 worth $1,232,943 to unauthorized alien workers at a fourth Atlanta addresses.

Other locations on the IG’s Top Ten list for singular addresses theoretically used simultaneously by thousands of unauthorized alien workers, included an address in Oxnard, Calif, where the IRS sent 2,507 refunds worth $10,395,874 to unauthorized aliens; an address in Raleigh, North Carolina, where the IRS sent 2,408 refunds worth $7,284,212; an address in Phoenix, Ariz., where the IRS sent 2,047 refunds worth $5,558,608; an address in Palm Beach Gardens, Fla., where the IRS sent 1,972 refunds worth $2,256,302; an address in San Jose, Calif., where the IRS sent 1,942 refunds worth $5,091,027; and an address in Arvin, Calif., where the IRS sent 1,846 refunds worth $3,298,877.

Anonymous said...

Steve, just want to share Senator Jeff Sessions speaking against amnesty: http://youtu.be/6inKyUCXbjc

Now, Sessions is supposedly a "conservative Republican", but he sound like a liberal Democrat from 20-30 years ago for most of that video.

Just more evidence for the thesis that the populist left and right are converging.

old girl said...

So America is a jobs program for Mexico... America is just the northernmost Mexican state?

I read somewhere today that unions got on board for this immigration bill primarily because they are hoping it kills the Republican party.

In addition, the WSJ had a glowing article several weeks ago about how unions look forward to growing their membership by organizing the immigrants when they are legalized... such as the car wash workers in LA.

JeremiahJohnbalaya said...

I noticed this Vonage ad during the NBA finals last night. Breaking walls/borders:

vonage generosity officer breaking down walls

elvisd said...


Just more evidence for the thesis that the populist left and right are converging.


What's that? Maybe ten percent of the electorate? I'm not saying that as a putdown, but I just don't think there's that many people who are like that right now. I would like to be more optimistic, but I converse across a pretty broad spectrum of people, and economic populism just isn't on many people's radar.

Semi-employed White Guy said...

Anonymous said...

I've noticed that they now regularly feature multiple black commentators despite them being horribly inarticulate and sounding stupid in general. Back in the 90s/early 2000s, they would have like one black commentator who would be inarticulate and sound stupid but since there would just be one it wouldn't gum up the presentation too much. ...
Have you noticed any of this?

Yes. I have. I attribute it to the dumbed down population, and the younger white population being conditioned to accept ebonics.

Also, there was a Fiat commercial set in colonial times where a hot white chick said something like "this is going to be so much better than the Tea Party".

Zoink said...

I posted the following comment to his blog--

Excellent work, please keep it up. I'd add a few more points:

1. US citizens own a lot of capital in Mexico, especially indirect through shares in US-owned subsidiaries, which will become less valuable if more Mexicans move to the USA. The same is true of the rest of the world to some small extent, but Mexico is fairly unique in having a very large portion of its native population resident in the USA and a very large amount of US-owned capital. US income will also suffer from reduced exports and US consumers will suffer from reduced output and higher prices of Mexican produced imported goods.

2. Expanding on your point 8, total federal, state and local spending is ~37% of the US economy, far exceeding corporate income, dividends, rents, and other "capital share" measures. Next to labor income, it is the most important factor.

3. Declining working-age labor force participation is an increasing economic problem in the U.S. Simply measuring reduced wages cannot capture the worsening of this problem that increased labor force competition would bring to the incumbent US labor force. The CBO report mentions that immigrant men, but not women, have a higher labor force participation rate adjusted for age. Then there is a shaky conclusion that wages would increase starting in 2025, hopefully boosting labor force participation. The reality is that there are many marginal workers, especially low-wage earners and the long-term unemployed, who are because of the depressed economy on the verge of permanently dropping out of the labor force. This means not only lost wages, but increased means-tested transfer payments and especially increased SSI/SSDI expenditures.

4. Increased inequality that the immigration bill would create has a number of negative economic consequences: higher crime costs, more government spending, reduced social trust, and a more volatile business cycle. The report admits that, for ten years at least, the immigration bill will depress wages, the main source of income for those outside the top 1%. It further admits that even 20 years out relative wages will be depressed than under current law. All this on top of a baseline that is already very depressing. This ever-increasing inequality will likely lead to additional political measures such as increased taxes and increased government transfers. Both of these policies reduce the incentive to work, the taxes reduce the after-tax returns to labor, and means-tested transfers on the other end further reducing the marginal return to labor. There is nothing in this report that even attempts to estimate the serious deadweight losses from changed policy, as well as hedonic losses created by distributing income from poor laborers to our elite, whose desire for consumption is more than fully satisfied by their ever rising rents, and whose desire for relative status is necessarily insatiable.

Zoink said...

"So don't particpate in this insane and dishonest debate."

Sure, that's certainly a winning strategy!

"Just more evidence for the thesis that the populist left and right are converging."

For that to happen the populist right will have to give up gay and Jew-baiting, banning abortion, killing off unions, privatizing social security, and teaching creationism.

The populist left has already largely given up on gun control, forced busing, generous pre-1995 welfare benefits, and a variety of objectively pro-criminal criminal justice system policies.

Anonymous said...

Zonik

You want to participate in a debate where the terms of the debate allow for an economic case for race-replacing the Native Born White American Majority? Would the Chinese in post-White Majority America ever contemplate having a debate where there is an economic case for making Native Born White Americans a majority again?

The wiining strategy is that we define the terms of debate.

Bill Blizzard and his Men.

jody said...

"The populist left has already largely given up on gun control, forced busing, generous pre-1995 welfare benefits, and a variety of objectively pro-criminal criminal justice system policies."

the left drives hard and relentlessly for all of those things. i'm not sure what planet you are living on.

i'll concede they don't use busing as their approach to forced physical racial integration anymore. they continue to drive for that as well though using other methods. anytime whites try to escape, liberals have myriad ways to drag them back to the brown vibrant hordes, or force the brown vibrant hordes out to where the whites ran away to. the often made "swarm of locusts" analogy is completely correct.

Anonymous said...

For that to happen the populist right will have to give up gay and Jew-baiting,...

Yeah, the right way to fix the gay- and Jew-bashing situation is to continue bringing in millions of Muslims. I hear that's done wonders in France.

Anonymous said...

It's Eric, not Erick.
Nobody likes to have their names misspelled, right?