Mother Jones: The Fiscal Staircase Explained
And, the first two paragraphs from the CBO’s turgidly titled “Economic Effects of Policies Contributing to Fiscal Tightening in 2013:”
Substantial changes to tax and spending policies are scheduled to take effect in January 2013, significantly reducing the federal budget deficit. According to CBO’s projections, if all of that fiscal tightening occurs, real (inflation-adjusted) gross domestic product (GDP) will drop by 0.5 percent in 2013 (as measured by the change from the fourth quarter of 2012 to the fourth quarter of 2013)—reflecting a decline in the first half of the year and renewed growth at a modest pace later in the year. That contraction of the economy will cause employment to decline and the unemployment rate to rise to 9.1 percent in the fourth quarter of 2013. After next year, by the agency’s estimates, economic growth will pick up, and the labor market will strengthen, returning output to its potential level (reflecting a high rate of use of labor and capital) and shrinking the unemployment rate to 5.5 percent by 2018.
Paul Krugman makes the call in today’s NY Times:
Yes, letting the tax and spending cuts happen may push America back into recession. He continues
Nobody wants to see that happen. Yet it may happen all the same, and Mr. Obama has to be willing to let it happen if necessary.
Opening the tight Nexus 7 box was a minor challenge, as others had reported. But once open, the device set up easily. It found the wireless network instantly and all I had to do was provide the WEP key. Of course my gmail account was key to many features, like my library ebooks, which was right there.
In general, the whole thing was seamless and intuitive. I’ll note a few items that took me a few extra seconds. Enabling landscape display (so the screen orients itself automatically when you turn it) required me to hold and drag down the top navigation bar/panel. As with any touch screen device, it’s all about the drag-and-drop and the pinch-to-zoom. In the top nav bar is an obvious icon to toggle screen rotation on and off. Other commenters also wondered why this was not enabled by default.
Google Play is the app store on the Nexus 7. You can search for any app you want. Removing unwanted default apps or other apps requires you to press and hold the app icon, then drag it up to the Remove “X” at the top of the screen. Moving apps around, between the five home screens calls for the same motion.
When I set up a Yahoo mail account, I unchecked a ‘Send by Default’ box. Don’t do that. Because then you can’t send out mail from that account at all.
There are lots and lots of apps. Right now, I am composing this post on the WordPress app.