Michael Linden(@MichaelSLinden) 's Twitter Profileg
Michael Linden

@MichaelSLinden

Econ and budget wonk. Formerly @ombpress @Groundwork, @RooseveltInst, @amprog, @senatebudget, @HELPCmteDems. Personal account, opinions my own.

ID:194697604

calendar_today24-09-2010 19:42:28

15,9K Tweets

26,7K Followers

791 Following

Michael Linden(@MichaelSLinden) 's Twitter Profile Photo

An incredibly tangible example of the simple, but powerful, idea that workers and everyday families are at the center of economic prosperity, not big banks, credit card companies, cable giants, etc.

This is what “Bidenomics” looks like in practice.

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Matt Egan(@MattEganCNN) 's Twitter Profile Photo

The last time gas prices were this cheap for Thanksgiving, almost no one was on the road to take advantage.

At $3.33/gallon today, gas prices are on track to be the lowest for Thanksgiving Day since 2020. @gasbuddyguy is predicting $3.25 - or lower

cnn.com/2023/11/17/bus…

The last time gas prices were this cheap for Thanksgiving, almost no one was on the road to take advantage. At $3.33/gallon today, gas prices are on track to be the lowest for Thanksgiving Day since 2020. @gasbuddyguy is predicting $3.25 - or lower cnn.com/2023/11/17/bus… #OOTT
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President Biden(@POTUS) 's Twitter Profile Photo

Last night I signed a bill preventing a government shutdown. It’s an important step but we have more to do. I urge Congress to address our national security and domestic needs — and House Republicans to stop wasting time on extreme bills and honor our bipartisan budget agreement.

Last night I signed a bill preventing a government shutdown. It’s an important step but we have more to do. I urge Congress to address our national security and domestic needs — and House Republicans to stop wasting time on extreme bills and honor our bipartisan budget agreement.
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Michael Linden(@MichaelSLinden) 's Twitter Profile Photo

It has been surprising to me how willing some frontline Republicans have been to cast doomed votes for policies they know their own constituents will find odious (where's the support for 80% cuts to K-12 education?).

The sooner the House GOP switches strategy, the better.

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Michael Linden(@MichaelSLinden) 's Twitter Profile Photo

First of all, 'Entitlement reform' is DC-speak for cutting Social Security, Medicare and Medicaid.

Second, on the substance, Haley is simply wrong. Spending on 'entitlements' is lower than what was expected 20 years ago. The debt is higher because of tax cuts.

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Eric Van Nostrand(@AsstSecEcon) 's Twitter Profile Photo

And third, our progress is macroeconomically significant. We are reversing the decades-long decline in infrastructure investment: state & local capital investment has grown as a share of GDP over the past 2 years by the most since 1979.

And third, our progress is macroeconomically significant. We are reversing the decades-long decline in infrastructure investment: state & local capital investment has grown as a share of GDP over the past 2 years by the most since 1979.
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Michael Linden(@MichaelSLinden) 's Twitter Profile Photo

The estimate of retail sales in September was revised upwards (to a whopping 0.9%) and then sales essentially held steady in October.

Hard to square this with the public's negative views of the economy. Big disconnect between actual behavior and what people are saying.

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Michael Linden(@MichaelSLinden) 's Twitter Profile Photo

I do not dismiss the possibility that our standard economic data is missing something fundamental, or that methodologies could be improved.

What I do dismiss and will always dismiss are conspiracy theories about how the data is cooked or falsified or otherwise 'unbelievable.'

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Michael Linden(@MichaelSLinden) 's Twitter Profile Photo

As I have been saying for a long while, the fundamental dynamics have not changed. There is a bipartisan majority in the House to enact reasonable appropriations along the lines of the FRA. The question has always been whether the GOP leadership will let that majority rule.

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Jordan Weissmann(@JHWeissmann) 's Twitter Profile Photo

Seems like a blow to the idea that Treasury yields last month reflected increased concern about the U.S. deficit

Seems like a blow to the idea that Treasury yields last month reflected increased concern about the U.S. deficit
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Will Stancil(@whstancil) 's Twitter Profile Photo

SPECIFICALLY FOR LOWER-INCOME WAGE WORKERS. I swear to god I will say this every single day until I die if I have to

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Mike Konczal(@mtkonczal) 's Twitter Profile Photo

A great number.

Pay particular attention to the 6-month trend, which Powell had emphasized was stuck throughout 2022. At the beginning of this year, the 6-month core CPI reading was 5.3 percent; it's now 3.2 percent, even as the economy added 1.9 million jobs.

Let's dig in. /1

A great number. Pay particular attention to the 6-month trend, which Powell had emphasized was stuck throughout 2022. At the beginning of this year, the 6-month core CPI reading was 5.3 percent; it's now 3.2 percent, even as the economy added 1.9 million jobs. Let's dig in. /1
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Michael Linden(@MichaelSLinden) 's Twitter Profile Photo

Media: Why is the public so sour on the economy?

Also Media: Here's why the latest incredibly positive economic news is actually bad news.

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Michael Linden(@MichaelSLinden) 's Twitter Profile Photo

Real wages (i.e. wages after adjusting for inflation) grew again last month. That's a roughly 2.4% annualized increase (again, above inflation).

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Joe Weisenthal(@TheStalwart) 's Twitter Profile Photo

BREAKING:

CPI COMES IN COOOOOL

NO RISE IN HEADLINE CPI. CORE CPI RISES JUST 0.2%

Economists had expected a sequential headline increase of 0.1% and core up 0.3% bloomberg.com/news/live-blog…

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James Fallows(@JamesFallows) 's Twitter Profile Photo

Nate Silver i would think that the most important test of 'whether Biden can do his job,' is HOW BIDEN HAS DONE HIS JOB.

By my own measure: fewer shakeups and scandals of any prez in decades; better legislative success; better econ record; calmer hand amid international tests and crises.

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