Monthly Archives: July 2010

Sweeping the Dust under the Rug: A.S. Haley on the Standing Committee's Latest Activities

It is true that the confirmation of Canon Trisk increased the number of clergy currently on the Committee from one to two, which matched the number of clergy who had previously served. But the reason for the “shortfall” in that category was that one of those prior clergy members had in the meantime been elevated to the episcopate:

The Committee then heard that because Bp Catherine Roskam had ended her term as The Episcopal Church’s bishop representative at the last ACC meeting in Jamaica Bp Ian Douglas’s election by Executive Committee to that position following his consecration had been entirely within its constitutional powers. It did not constitute a fresh appointment and would not extend Bp Douglas’ period of service.

So Bishop Ian Douglas, a previously elected clergy member of the Committee, was replaced by Canon Trisk from South Africa, thereby keeping the clergy number at two. Isn’t that convenient?

Not really: by accepting the charade expressed in the seven words “because Bishop Roskam had ended her term . . .” the Committee also managed to maintain its episcopal members (not counting the five bishops appointed by the Primates’ Meeting) at three. But as explained in this earlier post, and this later one, there is no provision in either the old constitution and bylaws, nor in the new articles, for an elected member’s term to end before the start of the next ACC meeting, which happens in the spring of 2012.

Who told the “Standing Committee” that Bishop Roskam had “ended her term”? No one — because it is not up to Bishop Roskam to end her term, but to the body which appointed her: ECUSA itself (acting through its Executive Council).

Read it all.

Posted in * Anglican - Episcopal, Anglican Consultative Council, Episcopal Church (TEC), TEC Bishops

ENS: Presiding bishop preaches at St. Paul's Cathedral in London

Read it all and please note it also includes a section on the recent ACC Standing Committee meeting and related matters.

Posted in * Anglican - Episcopal, * Christian Life / Church Life, Anglican Consultative Council, Anglican Provinces, Church of England (CoE), Episcopal Church (TEC), Parish Ministry, Preaching / Homiletics, Presiding Bishop

The Archbishop of Canterbury's keynote address at Lutheran World Federation Assembly

This assembly is today focusing on the gifts and needs of Asia ”“ which means, ironically, that the imagery of bread is less apt and immediate than that of rice. That in itself reminds us that so often we try to give to the other what they do not want or need, what is not familiar or nourishing. Sharing the bread of truth means also attending to the truth of the other’s actual condition. And much of what we European Christians ask forgiveness for is always going to be those moments in our history when we have offered a gift in a way that cannot be received ”“ perhaps because it is bound to alien cultural assumptions, or more seriously because it is associated with practices of oppression and exploitation. In the Body of Christ, sooner or later, we cannot avoid the moment when we make our peace by recognising that we need each other; that we must learn to open our hands for the rice that our Asian neighbour offers.

In contrast to what the secular culture sometime seems to think, this turning to one another in recognition of mistakes and hurts is not a futile indulgence in meaningless collective guilt or an attempt to settle scores. It is rather that we come to see how our history together has often made us less and not more human, and acknowledge that the effects of that are still powerful in our lives now. So we begin to ask one another for nourishment, including the not always easy or welcome nourishment that comes from hearing the truth.

One other crucial focus today is, of course, the act of reconciliation with Christians of the Mennonite/Anabaptist tradition. It is in relation to this tradition that all the ‘historic’ confessional churches have perhaps most to repent, given the commitment of the Mennonite communities to non-violence….

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Posted in * Anglican - Episcopal, * Religion News & Commentary, Archbishop of Canterbury, Lutheran, Other Churches

David Mills on P.D. James: A High and Appealing Agnosticism

[P.D. James] James is, the profile shows, a thoroughly decent, thoughtful, and very charming person, the sort of person you’d welcome as a neighbor or even as a mentor or model. She’s a poster girl for the kind of urbane, skeptical, unflappable, worldly-wise Englishness beloved of Anglophiles. You can’t help but feel that the world is a better place for having P. D. James in it.

And yet part of that Englishness is a kind of religion whose appeal I don’t understand. It’s partly the agnosticism about the next world ”” I want a bit more definite knowledge than that in exchange for my Sunday mornings ”” but more the loss of the participation in the Divine life of which the promise of life eternal is a part.

Reading the profile after Mass today, it seemed to me that she gave up what is most entrancing about the Christian Faith….

Read it all.

Posted in * Anglican - Episcopal, * Culture-Watch, * International News & Commentary, Anglican Provinces, Church of England (CoE), England / UK, Poetry & Literature, Religion & Culture

A Prayer for the Feast Day of St. James the Apostle

O gracious God, we remember before thee this day thy servant and apostle James, first among the Twelve to suffer martyrdom for the Name of Jesus Christ; and we pray that thou wilt pour out upon the leaders of thy Church that spirit of self-denying service by which alone they may have true authority among thy people; through the same Jesus Christ our Lord, who liveth and reigneth with thee and the Holy Spirit, one God, now and for ever.

Posted in * Christian Life / Church Life, Spirituality/Prayer

From the Morning Scripture Readings

When I am afraid, I put my trust in thee. In God, whose word I praise, in God I trust without a fear. What can flesh do to me?

–Psalm 56:3,4

Posted in Theology, Theology: Scripture

'Hidden US Afghan war details' revealed by Wikileaks

More than 90,000 secret US military records have been leaked to the media, revealing hidden details of the war in Afghanistan, newspapers report.

The documents are said to include unreported killings of Afghan civilians as well as covert operations by US special forces against Taliban leaders.

UK daily The Guardian and the New York Times say the records were shown to them and to German weekly Der Spiegel by online whistle-blower Wikileaks.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Blogging & the Internet, Defense, National Security, Military, Media, War in Afghanistan

Bloombrg: BP Said Preparing to Replace Hayward With Dudley as Board Seeks Recovery

BP Plc plans to appoint Robert Dudley to succeed Tony Hayward as chief executive officer as the board looks to recover the company’s position in the U.S., two people with knowledge of the matter said.

Dudley, the director of BP’s oil spill response unit, is ready to be announced as the company’s first American chief on July 27 and to take the helm Oct. 1, one of the people said, asking not to be identified because a final decision hasn’t yet been made. The decision was reached in discussions with board members about how best to take BP forward and rebuild its U.S. position, the person said. The BP board meets tomorrow to “rubber stamp” the plan, the second person said.

“The fact he is American should help to keep things a little more straightforward in his dealings with the U.S. administration,” Ted Harper, who helps manage $6.8 billion at Frost Investment Advisors in Houston, said today. He doesn’t hold BP stock. “Dudley’s most important task will continue to be making sure that the well is capped.”

Read it all.

Posted in * Economics, Politics, * International News & Commentary, --The 2010 Gulf of Mexico Oil Spill, America/U.S.A., Corporations/Corporate Life, Economy, Energy, Natural Resources, England / UK

White House backed release of Lockerbie bomber Abdel Baset al-Megrahi

The US government secretly advised Scottish ministers it would be “far preferable” to free the Lockerbie bomber than jail him in Libya.

Correspondence obtained by The Sunday Times reveals the Obama administration considered compassionate release more palatable than locking up Abdel Baset al-Megrahi in a Libyan prison.

The intervention, which has angered US relatives of those who died in the attack, was made by Richard LeBaron, deputy head of the US embassy in London, a week before Megrahi was freed in August last year on grounds that he had terminal cancer.

The document, acquired by a well-placed US source, threatens to undermine US President Barack Obama’s claim last week that all Americans were “surprised, disappointed and angry” to learn of Megrahi’s release.

Read it all.

Posted in * Economics, Politics, * International News & Commentary, America/U.S.A., Defense, National Security, Military, England / UK, Foreign Relations, Scotland, Terrorism

The Latest Edition of the Diocese of South Carolina E-Newsletter

You may find it here.

Posted in * Anglican - Episcopal, * South Carolina, Episcopal Church (TEC)

The Full Text of the Presiding Bishop's Sermon at Saint Paul's Cathedral Today

The search for dignity is work that all members of Christ’s body share. We’re invited to join the band of prophets, share the meal and drink the cup. It can be dangerous work, but most prophets I know are also filled with joy. Prophets generally decide that it’s not worth living in a system without dignity. Better to lose that life, and exchange it for one that builds up, because we lose our own dignity when we tolerate indignity for some.

The journey down to Antioch and back to Jerusalem led our ancestors to discover that one’s own dignity is mixed up with that of every other human being, and indeed all of creation. James made the same discovery. The work of the cross is the most life-giving journey we know. Are you ready, willing, and able?

Read it all (Word document).

Posted in * Anglican - Episcopal, * Christian Life / Church Life, Anglican Provinces, Church of England (CoE), Episcopal Church (TEC), Parish Ministry, Preaching / Homiletics, Presiding Bishop

A Richard Hays Sermon: Carrying the Death of Jesus

Who are these robed in white, and where do they come from? They are the witnesses to the truth, and they have come through the great ordeal without capitulating to the comfortable lies of a society that urges them to relax, fit in, and enjoy the benefits distributed by Caesar.

From start to finish the Book of Revelation juxtaposes the truth of the gospel to the lies and illusions of powers that try to deceive the saints and lead them away from allegiance to the one true God of Israel who acted in Jesus Christ for the salvation””the soteria””of the world. The entire book calls us to discern the truth and to make a choice. So, in John’s vision, the martyrs in the heavenly throneroom are models for us. They diagnose our true condition by showing that the world serves false gods, and they offer us a model to be emulated: like them, we must worship only the one true God, and put our lives on the line for our testimony to him.

Wayne Meeks writes about the Book of Revelation, “The business of this writing is to stand things on their heads in the perceptions of its audience, to rob the established order of the most fundamental power of all: its sheer facticity. The moral strategy of the Apocalypse, therefore, is to destroy common sense as a guide for life.”

That is what the testimony of the saints does for us: to destroy common sense as a guide for life….

Read it all.

Posted in * Christian Life / Church Life, Christology, Parish Ministry, Preaching / Homiletics, Seminary / Theological Education, Theology, Theology: Scripture

Intensive on-your-toes comedy training can be a boon to business

That theater, and improv in particular, can make a company or employee more competitive is not a particularly new idea. But what may be surprising is such training has not lost favor during the recession.

Ward has taught corporate and professional classes for 10 years. The recession has not been easy, but he points out: “I’m a for-profit arts organization that has kept the doors open through three of the worst years I’ve seen in my lifetime.”

Indeed, there appears to be enough demand to go around. Transactors Improv Co., also in Carrboro, has long offered what Greg Hohn calls applied improv classes. Hohn, Transactors’ executive and artistic director, also teaches the class at UNC’sKenan-Flagler Business School for MBA students.

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Posted in * Economics, Politics, * General Interest, Corporations/Corporate Life, Economy, Humor / Trivia

Lowell (Massachusetts) Sun: Episcopal churches share priest, renewed vigor

People begin to stroll out of Trinity Chapel in Shirley after a service on a Sunday morning. The Rev. Marsha Hoecker jumps into her car and drives away.

In a few minutes, the spacious 110-year-old country chapel with a large gable roof disappears in the rear-view mirror. Hoecker drives several more miles and pulls into a small parking lot on the side of busy Route 119 in Pepperell, in front of a Colonial house with an antique shop in its annex. The two-story-tall cross hanging on the side of the structure is the only indication that it’s a house of God.

As she walks in, though, she says she finds the same enthusiasm among the parishioners to celebrate God with her as she does at Trinity.

Hoecker has kept busy during the past 10 months, serving Trinity Chapel Episcopal Church in Shirley and St. David’s Episcopal Church in Pepperell, after the parishes agreed to share resources.

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Posted in * Anglican - Episcopal, * Christian Life / Church Life, Episcopal Church (TEC), Parish Ministry, TEC Parishes

Time Magazine: The Case Against Summer Vacation

Blame Tom Sawyer: Americans have a skewed view of childhood and summertime. We associate the school year with oppression and the summer months with liberty. School is regimen; summer is creativity. School is work and summer is play. But when American students are competing with children around the globe who may be spending four weeks longer in school each year, larking through summer is a luxury we can’t afford. What’s more, for many children ”” especially children of low-income families ”” summer is a season of boredom, inactivity and isolation.

Deprived of healthy stimulation, millions of low-income kids lose a significant amount of what they learn during the school year. Call it “summer learning loss,” as the academics do, or “the summer slide,” but by any name summer is among the most pernicious ”” if least acknowledged ”” causes of achievement gaps in America’s schools….

Read it all.

Posted in * Culture-Watch, * International News & Commentary, America/U.S.A., Children, Education, Marriage & Family, Poverty

Religion and Ethics Newsweekly: The Spiritual Implications of the Oil Spill

Watch….[as the following people speak] from New Orleans Roman Catholic Archbishop Gregory Aymond, Margaret Dubuisson of Catholic Charities of the New Orleans Archdiocese, and Rev. John Dee Jeffries, pastor of the First Baptist Church of Chalmette, discussing the spiritual toll of the oil spill crisis for people along the Gulf Coast.

You may find the video link here.

Posted in * Culture-Watch, * Economics, Politics, --The 2010 Gulf of Mexico Oil Spill, Corporations/Corporate Life, Economy, Energy, Natural Resources, Ethics / Moral Theology, Labor/Labor Unions/Labor Market, Pastoral Theology, Religion & Culture, Theology

The Economist Leader: Rough justice–America locks up too many people

IN 2000 four Americans were charged with importing lobster tails in plastic bags rather than cardboard boxes, in violation of a Honduran regulation that Honduras no longer enforces. They had fallen foul of the Lacey Act, which bars Americans from breaking foreign rules when hunting or fishing. The original intent was to prevent Americans from, say, poaching elephants in Kenya. But it has been interpreted to mean that they must abide by every footling wildlife regulation on Earth. The lobstermen had no idea they were breaking the law. Yet three of them got eight years apiece. Two are still in jail.

America is different from the rest of the world in lots of ways, many of them good. One of the bad ones is its willingness to lock up its citizens…. One American adult in 100 festers behind bars (with the rate rising to one in nine for young black men). Its imprisoned population, at 2.3m, exceeds that of 15 of its states. No other rich country is nearly as punitive as the Land of the Free. The rate of incarceration is a fifth of America’s level in Britain, a ninth in Germany and a twelfth in Japan.

Read it all.

Posted in * Culture-Watch, * International News & Commentary, America/U.S.A., Law & Legal Issues, Prison/Prison Ministry

NPR–Robert Duvall's Cinematic Take On Faith

Duvall pioneered this more understated approach to faith in his 1983 film Tender Mercies. His performance earned him an Oscar and the enthusiasm of Christian moviegoers. His character, Mac Sledge, is a once-famous country music star who is broken by drink. He does not find redemption in a fiery born-again experience; indeed, after his baptism he confesses he doesn’t feel very different ”” “not yet” at any rate. His redemption comes gradually, through his love for the Christian woman who befriends him.

Jesus doesn’t fix his problems or make for smooth sailing, either, and he has a crisis of faith when his daughter is killed in a car accident.

“I don’t trust happiness,” the character says. “I never did and I never will.”

His faith survives, but the movie never tells us why.

Read or listen to it all.

Posted in * Culture-Watch, * Religion News & Commentary, Movies & Television, Other Churches, Pentecostal, Religion & Culture

AP: Some skip church, worship in homes

To get to church on a recent Sunday, the Yeldell family just walked to their own living room to greet fellow worshippers.

Members of this “house church” are part of what experts say is a fundamental shift in the way U.S. Christians think about church. Skip the sermons, costly church buildings and large, faceless crowds, they say. House church is about relationships forged in small faith communities.

In general, house churches consist of 12 to 15 people who share what’s going on in their lives, often turning to Scriptures for guidance. They rely on the Holy Spirit or spontaneity to lead the direction of their weekly gatherings.

“I think part of the appeal for some in the house church movement is the desire to return to a simpler expression of church,” said Ed Stetzer, a seminary professor and president of Lifeway Research, affiliated with the Southern Baptist Convention. “For many, church has become too much (like a) business while they just want to live like the Bible.”

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Posted in * Christian Life / Church Life, * Culture-Watch, * International News & Commentary, America/U.S.A., Liturgy, Music, Worship, Religion & Culture

NPR–China’s Divided Catholics Seek Reconciliation

For decades, China’s Catholics ”” estimated at more than 12 million ”” have been bitterly divided. Some worship in China’s government-sanctioned Catholic churches, others in “underground” churches loyal to the Vatican.

But three years ago, Pope Benedict XVI sent a letter to Chinese Catholics ”” the first from a pope in more than a half-century ”” urging reconciliation. Yet China’s Catholics have struggled to follow these instructions.

Early morning in Sheshan, on the outskirts of Shanghai, Catholics kneel on the ground in front of the pilgrimage shrine to the Virgin Mary, known as the Marian shrine. A cacophony of prayer rises as different groups of pilgrims conduct their services, singing hymns of praise almost loud enough to drown each other out.
Many of these groups of believers refuse to enter the government-sanctioned church nearby. They are part of the “underground” church, even though on this day they are worshipping openly and unimpeded. Some of these believers refuse to take Holy Communion from Beijing’s officially appointed bishops, and instead follow bishops chosen by the Vatican.

Read or listen to it all.

Posted in * Culture-Watch, * International News & Commentary, * Religion News & Commentary, Asia, China, Other Churches, Pope Benedict XVI, Religion & Culture, Roman Catholic

A Prayer for Growth and Grace

O Almighty God, from whom every good prayer cometh, and who pourest out on all who desire it the spirit of grace and supplication: Deliver us, when we draw near to thee, from coldness of heart and wanderings of mind; that with steadfast thoughts and kindled affection we may worship thee in spirit and in truth; through Jesus Christ our Lord.

–William Bright

Posted in * Christian Life / Church Life, Parish Ministry, Spirituality/Prayer, Youth Ministry

From the Morning Scripture Readings

“Now therefore fear the LORD, and serve him in sincerity and in faithfulness; put away the gods which your fathers served beyond the River, and in Egypt, and serve the LORD. And if you be unwilling to serve the LORD, choose this day whom you will serve, whether the gods your fathers served in the region beyond the River, or the gods of the Amorites in whose land you dwell; but as for me and my house, we will serve the LORD.”

–Joshua 24:14,15

Posted in Theology, Theology: Scripture

Archbishop of York urges Stoke-on-Trent to keep faith during hard times

The Anglican Church’s second most senior cleric, after the Archbishop of Canterbury, joined faith and civic leaders from across the city at a special event last night to celebrate the federation of the six towns 100 years ago.

Ugandan-born Dr Sentamu, who was the country’s first black archbishop, was guest speaker at the King’s Hall event organised to highlight the contribution of faith to the area over the past 100 years.

Addressing around 250 guests, he said: “Great people of this city may I be with you to banish fear.

“Fear has a crippling effect more than anything else. We will not be afraid.”

Read it all.

Posted in * Anglican - Episcopal, * Culture-Watch, * Economics, Politics, * International News & Commentary, Anglican Provinces, Archbishop of York John Sentamu, Church of England (CoE), Economy, England / UK, Religion & Culture, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

2 U.S. soldiers missing in Afghanistan; 5 killed by bombs

By any measure, Saturday was a very bad day in Afghanistan for U.S. forces: a convergence of two dreaded battlefield events.

Two U.S. soldiers were missing and feared captured or killed by the Taliban, military and Afghan officials said. And five other U.S. service members were killed by improvised explosive devices, which now pose a greater threat to life and limb for Western troops than at any point in the nine-year war.

Details of what exactly had befallen the two missing men were murky. The NATO force said in a statement that they had left their base Friday and had not been heard from since. A search was underway, it said.

Read the whole thing.

Posted in * Economics, Politics, War in Afghanistan

Orthodox Anglicans Urged to Hold Fast to Sound Teaching

Hundreds of orthodox Anglicans were urged on Friday to uphold Scripture as the church in the West continues to abandon Christ’s path.

“The Western world has become afraid or is unwilling to acknowledge that there is right and wrong ”“ that there is good and evil,” Archbishop Nicholas Okoh, primate of the Church of Nigeria, told members of the Convocation of Anglicans in North America. “The West, Nations and Church, are disinheriting their Christian inheritance.”

Okoh was bringing greetings to CANA members who gathered in Herndon, Va., this week for their annual council meeting. CANA was established by the Church of Nigeria three years ago for those who were discontent with the liberal direction of The Episcopal Church ”“ the U.S. body of Anglicanism ”“ but who still wanted to remain tied with the global Anglican Communion.

Read it all.

Posted in * Anglican - Episcopal, Anglican Church in North America (ACNA), Anglican Provinces, CANA, Church of Nigeria, Episcopal Church (TEC), TEC Conflicts, Theology, Theology: Scripture

Andrew Ferguson on Newsweek's Struggles: Don’t Give Readers What They Want

[The editor of Newsweek]… ignored the truth that the old newsmagazine editors lived by: journalists who write to satisfy people like themselves will soon run out of readers. The magazine that lies dying in Don Graham’s arms violated this rule week by week.

To cite one obvious example: newsweeklies annually marked Christian holidays with a cover story on a religious theme, always respectful and sometimes celebratory in tone. I’m sure it was a strain, an exercise in self-denial; few journalists are religious in any conventional sense. The new Newsweek, by contrast, published holiday issues that any good secular journalist would like to read. One issue near Christmas offered a long and fallacious cover story on “The Religious Case for Gay Marriage.” Easter came and the magazine feted “The End of Christian America.” Pieces like this weren’t so much a challenge to traditionally religious readers as a declaration of war. Why not just put a bullet in the Easter Bunny while you’re at it?

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Blogging & the Internet, Consumer/consumer spending, Corporations/Corporate Life, Economy, History, Media, Religion & Culture, Science & Technology

Great NBC Video Report on One Heroic Woman's Fight Against Hunger in Ohio's Appalachian Foothills

Visit msnbc.com for breaking news, world news, and news about the economy

Watch it all

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, America/U.S.A., Economy, Hunger/Malnutrition, Poverty, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

Britain Plans to Decentralize National Health Care

Perhaps the only consistent thing about Britain’s socialized health care system is that it is in a perpetual state of flux, its structure constantly changing as governments search for the elusive formula that will deliver the best care for the cheapest price while costs and demand escalate.

Even as the new coalition government said it would make enormous cuts in the public sector, it initially promised to leave health care alone. But in one of its most surprising moves so far, it has done the opposite, proposing what would be the most radical reorganization of the National Health Service, as the system is called, since its inception in 1948.

Practical details of the plan are still sketchy. But its aim is clear: to shift control of England’s $160 billion annual health budget from a centralized bureaucracy to doctors at the local level. Under the plan, $100 billion to $125 billion a year would be meted out to general practitioners, who would use the money to buy services from hospitals and other health care providers.

Read it all.

Posted in * International News & Commentary, England / UK

Wales Online: American woman bishop visits Wales

Women should be represented at all levels of the church, the most powerful Anglican in the US has said during a visit to Wales.

Katharine Jefferts Schori, the Presiding Bishop of the Episcopal Church, has been a personal guest of Archbishop of Wales Barry Morgan, whose conviction that church leadership should not be a male-only preserve she shares.

The US church’s support for bishops in homosexual relationships has sparked conflict with traditionalists and the communion, which has adherents in more than 160 countries, is threatened with schism.

Read it all.

Posted in * Anglican - Episcopal, Anglican Provinces, Church of Wales, Episcopal Church (TEC), Presiding Bishop

Gregory Mankiw: Crisis Economics

The administration’s second assumption, meanwhile, is a matter of academic theories about the sizes of the relevant economic multipliers. Textbook Keynesian economics tells us that government-purchases multipliers are larger than tax-cut multipliers. And, as we have seen, the Obama administration’s economic team consulted these standard models in deciding that spending would be significantly more effective than tax cuts.

But a great deal of recent economic evidence calls that conclusion into question. In an ironic twist, one key piece comes from Christina Romer, who is now chair of Obama’s Council of Economic Advisers. About six months before she took the job, Romer teamed up with her husband and fellow Berkeley economist David Romer to write a paper (“The Macroeconomic Effects of Tax Changes”) that sought to measure the influence of tax policy on GDP. Crucial to the Romers’ method was their effort to identify changes in tax policy made during times of relative economic stability, and driven by a desire to influence economic behavior or activity (to encourage growth, say, or reduce a deficit), rather than those changes made in response to a recession or crisis. By studying such “exogenous” tax-policy changes, the Romers could be more confident that they were in fact measuring the effects of taxes and not those of extraneous conditions.

The Romers’ conclusion, which is at odds with most traditional Keynesian analysis, was that the tax multiplier was 3 ”” in other words, that every dollar spent on tax cuts would boost GDP by $3. This would mean that the tax multiplier is roughly three times larger than Obama’s advisors assumed it was during their policy simulations.

Read it all.

Posted in * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Economy, House of Representatives, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, Office of the President, Politics in General, President Barack Obama, Senate, The 2009 Obama Administration Bank Bailout Plan, The 2009 Obama Administration Housing Amelioration Plan, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The Fiscal Stimulus Package of 2009, The Possibility of a Bailout for the U.S. Auto Industry, The September 2008 Proposed Henry Paulson 700 Billion Bailout Package, The U.S. Government