Kauffman Foundation News (7/28/11): Leading economics bloggers weigh in on debt limit and other economic issues

Leading economics bloggers weigh in on debt limit and other economic issues

Extend the Debt Limit Without Conditions, Say a Majority of 
Leading Economics Bloggers

Respondents to Kauffman Foundation’s third-quarter survey expect weak employment growth, higher annual deficits ahead

Optimism is out; pessimism is in among the country’s top economics bloggers as they look to 2012 and beyond, particularly regarding jobs. A new Kauffman Foundation survey released today shows that only 50 percent of respondents anticipate employment growth, a decrease of 20 percent from second quarter.

Fully 95 percent of respondents view current economic conditions as “mixed” or “facing recession,” an increase of 10 percent from second quarter, and a third predict a double-dip recession during 2012. “Uncertain” is once again the top adjective economics bloggers use to describe the economy, and respondents shared expectations of higher annual deficits and the top marginal tax rate.

As the debt controversy continues on Capitol Hill, the consensus of economics bloggers was strong, but neither conventionally liberal nor conservative.  More than half support raising the U.S. debt limit without conditions. But a strong majority – 88 percent – also favors the idea of a requirement for the Congressional Budget Office (CBO) to account long-term liabilities in its budget assessment.

Read more about what the nation’s leading economics bloggers have to say about the economy in the third Kauffman Economic Outlook: A Quarterly Survey of Leading Economics Bloggers of 2011.

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