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Perspectives on Economic Policy and the Economy SIEPR Economic Summit 2012 Stanford University

Perspectives on Economic Policy and the Economy SIEPR Economic Summit 2012 Stanford University. March 9, 2012 Laura D. Tyson S.K. and Angela Chan Professor of Global Management Haas School of Business University of California, Berkeley. Percent Job Losses in Post WWII Recessions.

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Perspectives on Economic Policy and the Economy SIEPR Economic Summit 2012 Stanford University

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  1. Perspectives on Economic Policy and the EconomySIEPR Economic Summit 2012Stanford University March 9, 2012 Laura D. Tyson S.K. and Angela Chan Professor of Global Management Haas School of Business University of California, Berkeley

  2. Percent Job Losses in Post WWII Recessions Source: Calculated Risk, “Percent Job Losses: Great Recession and Great Depression.”, http://www.calculatedriskblog.com/2012/02/percent-job-losses-great-recession-and.html

  3. Median Annual Earnings for Men Source: The Hamilton Project, http://www.hamiltonproject.org/multimedia/charts/median_annual_earnings_since_1964/

  4. Where Do Our Federal Tax Dollars Go? Most of Budget Goes Toward Defense, Social Security, and Major Health Programs Source: “Policy Basics: Where do our federal tax dollars go?”, Center on Budget Policy Priorities, April 15, 2011.

  5. Outlays for Social Security and the Major Health Care Programs Note: Major health care programs include Medicare, Medicaid, the Children's Health Insurance Program, and exchange subsidies and related spending. Source: Douglas W. Elmendorf, Congressional Budget Office, “The Medium-Term Budget Outlook and Policy Options”, Presentation to the Macroeconomic Advisers’ Washington Policy Seminar, September 14, 2011.

  6. Other Components of Federal Noninterest Spending Note: When constructing its baseline, CBO assumes that discretionary appropriations will adhere to the statutory caps recently enacted into law by the Budget Control Act of 2011 (Public Law 112-25). Because the caps do not constrain appropriations for military operations in Afghanistan and Iraq (or for similar activities), such outlays are assumed to equal $159 billion (the amount provided for 2011), adjusted in future years for inflation. In this figure, all other funding is assumed to be reduced proportionately, relative to the funding that would be necessary to keep pace with inflation, in order to keep total discretionary funding within the caps on appropriations other than those for war-related purposes. Source: Douglas W. Elmendorf, Congressional Budget Office, “The Medium-Term Budget Outlook and Policy Options”, Presentation to the Macroeconomic Advisers’ Washington Policy Seminar, September 14, 2011.

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