The Current Crisis, The Coming Crisis, and the Impact on Tax Policy

By: Francis Cianfrocca (Diary)  |  January 19th at 08:02 AM  | 

We’re experiencing an economic recession as a result of several global economic imbalances that have been building for years now. Since sometime in the Clinton Administration, growth in US consumption has been funded by steady increases in the private “balance sheet,” or the net level of indebtedness. During the Bush years, growth was also supported by accomodative monetary policy and fiscal deficits. Since the early | Read More »