Announcement Effect Club

Steven Pearlstein Joins the Announcement Effect Club

After the addition of the Fiscal Commission to the Announcement Effect Club last week, Steven Pearlstein of the Washington Post kept the membership growing with an op-ed in Friday's Post. 

Fiscal Commission Joins the Announcement Effect Club!

In today's release of the Fiscal Commission's final recommendations, the report undoubtedly, unequivocally, indubitably joined the Announcement Effect Club. In the section on how the plan can fit into "fostering an economic recovery", here's what they had to say:

One More in the Announcement Effect Club and A So-Close Member

Pete Davis over at Capital Gains and Games joined the Announcement Effect Club over the weekend and FDIC head Sheila Bair came very close.

In a blog post at CG&G, Davis called for a fiscal plan to put our debt on a sustainable trajectory. But how soon?

The Economist Joins the Announcement Effect Club

The Economist joined the Announcement Effect Club last week in an article calling for leadership on the deficit. Following many other plans put out over the past few weeks, they offered some of their own preferred policies for putting the budget back on a sustainable path.

Two More Members For the Announcement Effect Club

David Chavern of the Chamber of Commerce and Christina Romer, former chair of the Council of Economic Advisors (CEA), both joined the Announcement Effect Club this month. Interesting that two people on very different sides of the economic debate have something in common.

First, Romer in a New York Times article on Sunday:

New Members Join the Announcement Effect Club

Recently, two prominent figures have joined CRFB’s Announcement Effect Club. Joining the Announcement Effect Club requires a statement that taking action now to put in place measures to reduce future deficits can actually help the recovery by limiting upward pressure on interest rates that would be expected otherwise as the economy gains steam.

Robert Rubin Joins the Announcement Effect Club

Former Treasury Secretary Robert Rubin joined the Announcement Effect Club on "Fareed Zakaria GPS" in an appearance alongside another former Treasury Secretary, Paul O' Neill. In regards to the future short-term path of fiscal policy, he had this to say:

Steuerle Joins the Announcement Effect Club

CRFB board member Eugene Steuerle joined the Announcement Effect Club in a post on the Urban Institute's website. In the post, he talked about the need to separate the difference between our short-term deficits and our medium-term structural deficits. First, the main quote:

Erskine Bowles Joins the Announcement Effect Club

Erskine Bowles, co-chairman of the National Commission on Fiscal Responsibility and Reform, joined the Announcement Effect Club yesterday during the Commission's third meeting. Read Erskine's membership-affirming statement below:

We have to put forth a realistic plan, and if you put forth a realistic plan, people will believe it, and it will have a positive effect on the markets.

The ECB on Fiscal Consolidation

The European Central Bank joined the Announcement Effect Club yesterday in its June Monthly Bulletin. In evaluating the costs and benefits of fiscal consolidation, the Bulletin said the following:

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