Economist & nature lover. Institute fellow @UrbanInstitute. Writer about economics, finance, & life.
Washington, DC
Joined June 2009
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Donald Marron retweeted
Phill Swagel is a phenomenal CBO director. First-rate, impeccable, goated.
Not a single negative thing I can say about him
He’s exactly what you want from a CBO director: smart, intellectually curious, challenges his own priors, always learning
He makes the whole agency better
Democrats’ victory mean they will decide who runs CBO.
wsj.com/livecoverage/midterm…
Is GDP really falling at -2.8%? I doubt it.
The Atlanta model shows a big drag from imports. But no offsetting gain in inventories.
That's surprising. If businesses accelerated imports to avoid tariffs, we should see an inventory boost. I bet that's coming in future data.
On March 3, the #GDPNow model nowcast of real GDP growth in Q1 2025 is -2.8%: bit.ly/32EYojR. #ATLFedResearch
Download our EconomyNow app or go to our website for the latest GDPNow nowcast: bit.ly/2TPeYLT.
Happy 50th Birthday to CBO
Fifty years ago today, CBO began its service to the Congress and the country. Much has changed since then, but the agency’s mission—to provide objective, nonpartisan information to support the Congressional budget process—remains the same. cbo.gov/publication/61216
1/ The IRS just confirmed that cryptocurrency staking rewards should be taxed at receipt. But that does not fully resolve the puzzle of how to tax staking rewards.
9/ Taxing staking rewards at receipt can be part of the solution. But by itself, it taxes staking rewards too much. To get things just right, stakers should also get appropriate cost recovery deductions.
Great news.
In a statement, CBO Director Phillip Swagel thanked Speaker McCarthy and President pro tempore Murray for appointing him to a second term and said he is excited to continue the important work that he has been part of these past four years. cbo.gov/publication/59424
Need a gift in a hurry? Ask the GPT3 chatbot to write a poem. Here's a sonnet I "wrote" for my wife.
"Oh, we get documents faster if you mail them rather than upload them electronically," explained the nice health insurer phone rep.
Donald Marron retweeted
NEW | Digital Assets Executive Order: The Great Game Changer wilsoncenter.org/blog-post/d… #crypto #DigitalAssetsForum
