Dean Baker
Dean Baker
Dean Bakeris an American macroeconomist and co-founder of the Center for Economic and Policy Research, with Mark Weisbrot. He has been a senior economist at the Economic Policy Institute and an assistant professor of economics at Bucknell University. He has a Ph.D. in economics from the University of Michigan...
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The idea that we have to make cuts imminently because of the Baby Boomer generation is simply not true. We knew about Boomers and adjusted the program accordingly. Greenspan is really off the mark.
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It could be a very big hit. I'd say there's a 10 to 15 percent chance of negative growth if we see a spike in interest rates, or a really big jump in energy prices.
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I think their intention is to get people who are loyal and that does raise problems. It's clear that they're looking at this as a sales position.
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There is a large psychological element behind current housing prices,