sequestration: macro and micro jared bernstein and joel friedman cbpp 2/27/13
TRANSCRIPT
![Page 1: Sequestration: Macro and Micro Jared Bernstein and Joel Friedman CBPP 2/27/13](https://reader035.vdocuments.mx/reader035/viewer/2022070413/5697bfa91a28abf838c9a037/html5/thumbnails/1.jpg)
Sequestration: Macro and Micro
Jared Bernstein and Joel FriedmanCBPP
2/27/13
![Page 2: Sequestration: Macro and Micro Jared Bernstein and Joel Friedman CBPP 2/27/13](https://reader035.vdocuments.mx/reader035/viewer/2022070413/5697bfa91a28abf838c9a037/html5/thumbnails/2.jpg)
Economic Backdrop: Sequestration Lets the Air Out of the Tires of an Already Wobbly Economic Bicycle
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![Page 3: Sequestration: Macro and Micro Jared Bernstein and Joel Friedman CBPP 2/27/13](https://reader035.vdocuments.mx/reader035/viewer/2022070413/5697bfa91a28abf838c9a037/html5/thumbnails/3.jpg)
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Sequester (et al): Policy Headwinds Blowing Pretty Hard in Wrong Direction
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Do you need more proof that austerity is a bust?!!?
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Low (10th) Median (50th) High (90th)
2000 $396 $817 $1,813
2007 $391 $817 $1,847
2012 $382 $815 $1,901
2007-12 -2.3% -0.3% 2.9%
Other Headwinds: Gasoline, Real Earnings
Sources: GasBuddy, BLS7
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Housing Tailwinds, Helped Along by the Only Policy Makers Doing Anything Helpful Right Now: the Federal Reserve
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