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Martin Feldstein

Martin Feldstein

George F. Baker Professor of Economics at Harvard University

Member of the Board, Belfer Center for Science and International Affairs

Contact:
Telephone: 617-868-3900
Email: mfeldstein@harvard.edu
Website: http://www.nber.org/feldstein

 

 

By Date

 

2011 (continued)

(AP Photo/Alan Diaz)

July 25, 2011

"Forget the debt: it's jobs that will define Obama’s future"

Op-Ed, Financial Times

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

The US unemployment rate reached 9.2 per cent in June, up from 8.8 per cent in March of this year and double the 4.6 per cent rate in 2007 just before the recession began. Even if a short-term deal is done on the US debt ceiling, this high and rising unemployment hurts consumer confidence and weakens President Barack Obama’s chances for re-election. To bring the unemployment rate down to 8 per cent by the time of the November 2012 election would require employment to rise by more than 200,000 jobs a month, more than four times the rate of job growth in the most recent two months.

 

 

July 1, 2011

"The Optimism of Last Year's Final Days Has Faded"

Op-Ed, Sydney Morning Herald

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

The U.S. economy has slowed down dramatically recently, and the probability of another economic downturn increases with each new round of data. This is a sharp change from the economic situation at the end of last year - and represents a return to the very weak pace of expansion since the recovery from the GFC began in the summer of 2009.

Read more: http://www.smh.com.au/business/the-optimism-of-last-years-final-days-has-faded-20110630-1gszg.html#ixzz1RGEWmZVY

 

 

June 23, 2011

"Greek Default is Just a Matter of When, Not If"

Op-Ed, Financial Times

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

Even though the Greek parliament has given the government some breathing space with its vote of confidence late on Tuesday, a default by Greece is inevitable. With a debt to gross domestic product ratio of more than 150 per cent, large annual deficits and interest rates more than 25 per cent, the only question is when the default will occur. The current negotiations are really about postponing the inevitable default.

 

 

June 8, 2011

"The Economy Is Worse Than You Think"

Op-Ed, Wall Street Journal

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

Expect more bad news until someone enacts a plan to bring deficits under control without raising taxes.

 

 

June 7, 2011

"The best shot for Greece is to take temporary leave from the euro zone"

Op-Ed, Sydney Morning Herald

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

As things stand, Greece cannot solve its many problems, writes Martin Feldstein.



 

 

(AP photo)

May 5, 2011

"Raise Taxes, but Not Tax Rates"

Op-Ed, New York Times

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

Reducing the budget deficit and stopping the explosion of our national debt will require more tax revenue as well as reduced government spending. But the need for more revenue needn’t mean higher tax rates.

 

 

March 2, 2011

"Quantitative easing fits profile in American rebound mystery"

Op-Ed, The Age

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

There is no doubt the American economy rallied strongly at the end of last year, Martin Feldstein writes. "But how much of that was due to the US Federal Reserve's temporary policy of so-called 'quantitative easing'? And what does the answer mean for the US economy this year?"

 

 

February 15, 2011

"Want to Boost the Economy? Lower Corporate Tax Rates"

Op-Ed, Wall Street Journal

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

President Obama has reached out to the business community with talk of lowering the corporate tax rate and improving the tax treatment of profits earned abroad by American companies. That would certainly be an important improvement in our tax system. Unfortunately, his desire to use the elimination of "loopholes" to avoid any loss of corporate tax revenue means that he cannot possibly go far enough in reducing corporate tax rates.

 

 

January 3, 2011

Obama changes stance on business

Op-Ed, JoongAng Daily

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

"The tax package agreed to by President Barack Obama and his Republican opponents in the United States Congress represents the right mix of an appropriate short-run fiscal policy and a first step toward longer-term fiscal prudence," writes Martin Feldstein, a member of the White House Economic Recovery Advisory Board and the Belfer Center's board of directors.

 

2010

AP Photo

November 29, 2010

"How to cut the deficit without raising taxes"

Op-Ed, Washington Post

By Martin Feldstein, George F. Baker Professor of Economics at Harvard University

There is a way to cut budget deficits without raising tax rates. "Tax expenditures" are the special features of U.S. income tax law that subsidize mortgage borrowing, health insurance, local government spending and more. Although these subsidies are a form of government spending, they are counted as reduced tax revenue rather than increased government outlays. Yet tax expenditures increase the deficit by hundreds of billions of dollars a year, more than the total cost of all non-defense programs other than Social Security and Medicare.

 

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