deficit

Money Matters
5:04 am
Tue April 23, 2013

How an Excel error derailed the federal deficit debate

dabblelicious flickr.com

Some call it the spreadsheet error heard 'round the world. 

The 2010 Reinhart-Rogoff paper, Growth in a Time of Debt, 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.

But a mistake in coding the Excel spreadsheet skewed the results. Mike Konczal at Business Insider says the spreadsheet mistake is one of three glaring problems in the study.

The whole debacle serves as a prudent reminder to maintain a healthy sense of skepticism about economic statistics.

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Politics
5:00 am
Tue November 13, 2012

Senator Patty Murray says going over the 'fiscal cliff' is an option

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.

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.

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