In the News

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More college degrees aren’t enough to wipe out inequality, paper says

The Wall Street Journal • March 31, 2015 • Jeffrey Sparshott

"Better education would lift the earnings of men in the bottom half of the income scale but wouldn’t be enough to erase inequality between the rich and poor, according to a new paper...The study, by economists Brad Hershbein, Melissa Kearney and former Treasury Secretary Lawrence Summers, simulates the impact of a bachelor’s degree on the population of men 25 to 64 who don’t have one."

Obama colleagues Summers and Furman talk economic growth

The Harvard Crimson • March 31, 2015 • Sharon Yang

"Former University President Lawrence H. Summers and Jason L. Furman ‘92, the current chairman of the Council of Economic Advisers, discussed domestic economic growth at a packed John F. Kennedy Jr. Forum at the Institute of Politics Monday night...Both men, who previously worked together as economic advisers in the Obama Administration, touched on concerns surrounding tepid growth in the U.S. economy overall, in addition to issues like income inequality, healthcare costs, and stagnant growth for the middle class..."

Education won’t solve inequality — U.S. economy close to stall speed — Bush backs Indiana law — Iran deadline day

Politico - Morning Money • March 31, 2015 • Ben White

"In a paper going out this morning as part of the Hamilton Project, Brad Hershbein, Melissa S. Kearney, and Lawrence H. Summers write: “Increasing the educational attainment of men without a college degree will increase their average earnings and their likelihood of being employed. … Increasing educational attainment will not significantly change overall earnings inequality..."

Why More Bachelor’s Degrees Won’t Solve Inequality

Slate • March 31, 2015 • Jordan Weismann

"...What these analyses usually lack is a clear picture of what the world might look like if we successfully increased college graduation. But today, economists Larry Summers, Melissa Kearney, and Brad Hershbein have stepped up to offer an answer in a short paper for the Hamilton Project. The team finds that, yes, boosting bachelor's degree attainment would decrease inequality a bit, mostly by bringing lower-income workers a bit closer to the middle class..."

Entitlement reform: Dead or alive?

Washington Examiner • March 30, 2015 • Brian Hughes

"...In his recently released budget, Obama offered few new ideas for addressing long-term entitlement costs, a position that reflects the increasingly progressive tone coming from the White House in the president's final two years..."The combination of discretionary spending cuts, slower growth in health spending and tax rate increases has slowed the projected growth of debt, but not reversed it," Alice Rivlin, former budget director under President Clinton, told the Washington Examiner. "I would not advise the president to jump back on this issue right now."..."

Alice M. Rivlin to receive the Economic Club of New York Award for leadership excellence

PR Newswire • March 30, 2015

"Alice M. Rivlin, a senior fellow in the Economic Studies Department at the Brookings Institution; founding Director of the Congressional Budget Office and former Vice Chairman of the Federal Reserve System has been elected by the Economic Club of New York to receive its third Award for Leadership Excellence. Ms. Rivlin will receive the award and speak at a luncheon at the Waldorf Astoria in New York on Tuesday, April 21, 2015..."

Why the TPP is a game changer

Daily Kos • March 26, 2015

"...And the pamphlet’s populist message was the antithesis of the position Obama championed during a 2006 speech delivered to members of the Hamilton Project:
"I think that if you polled many of the people in this room, most of us are strong free traders and most of us believe in markets. Bob and I have had a running debate now for about a year about how do we, in fact, deal with the losers in a globalized economy..."

Panel discussion: The impacts of climate change on water resources

Maven's Notebook • March 25, 2015

"The Hamilton Project at Brookings and the Stanford Woods Institute for the Environment hosted the forum, New Directions for U.S. Water Policy, in October of last year, which focused on the release of three new papers and featured panels discussing water markets, innovation, and climate change..."

Grading the economy’s recovery

MSNBC • March 25, 2015

"Former WH budget director Peter Orszag explains says the focus on transparency and the Federal Reserve is misplaced. Orszag also says the economy "could be doing better."

Despite anti-fraud rhetoric, Republican budgets omit funding to combat fraud and abuse

Center on Budget and Policy Priorities • March 25, 2015 • Robert Greenstein

"The budgets that the House and Senate will consider this week leave out the funding that the 2011 Budget Control Act (BCA) specifically allows for “program integrity” activities to fight fraud and abuse in Medicare, Medicaid, and disability programs, despite the fact that these activities have a proven track record of saving money.  This action stands in contrast to Republican claims that their budgets will make government spending more “efficient and effective.”

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Hamilton Project Updates

A periodic newsletter of events, policy briefs, and working papers from The Hamilton Project.