deficit http://kplu.org en How an Excel error derailed the federal deficit debate http://kplu.org/post/how-excel-error-derailed-federal-deficit-debate <p></p><p><span style="line-height: 1.5;">Some call it the spreadsheet error heard 'round the world.&nbsp;</span></p><p><span style="line-height: 1.5;">The 2010&nbsp;</span>Reinhart-Rogoff<span style="line-height: 1.5;">&nbsp;paper, <em><a href="http://www.nber.org/papers/w15639.pdf" target="_blank">Growth in a Time of Debt</a>,</em>&nbsp;was the most authoritative report providing hard data on why government spending needs to be cut. Too much debt, the study said, impedes economic growth.</span></p><p><span style="line-height: 1.5;">But a mistake in coding the Excel spreadsheet skewed the results. <a href="http://www.businessinsider.com/thomas-herndon-michael-ash-and-robert-pollin-on-reinhart-and-rogoff-2013-4" target="_blank">Mike Konczal at Business Insider</a> says the spreadsheet mistake is one of three glaring problems in the study. </span></p><p><span style="line-height: 1.5;">The whole debacle serves as a prudent reminder to maintain a healthy sense of skepticism about economic statistics.</span></p><p> Tue, 23 Apr 2013 12:04:00 +0000 Dave Meyer & Greg Heberlein 8503 at http://kplu.org How an Excel error derailed the federal deficit debate Senator Patty Murray says going over the 'fiscal cliff' is an option http://kplu.org/post/senator-patty-murray-says-going-over-fiscal-cliff-option <p>Now that the election is over, Washington, D.C. has turned its focus to averting the so-called fiscal cliff. But Washington Senator Patty Murray says going over the cliff should be an option.</p><p>The fiscal cliff refers to the Bush-era tax cuts that expire at the end of the year and the deep spending cuts that will take place. Senator Murray has been saying for some time now that Democrats shouldn’t be too afraid of the fiscal cliff.</p> Tue, 13 Nov 2012 13:00:00 +0000 Ashley Gross 7094 at http://kplu.org