Tag Archives: Brookings

Projecting Your Fiscal Cliff

Lawmakers are down to the wire in negotiating a deal to avoid the “fiscal cliff.”  What does it exactly mean for individuals, households and families?  The Tax Policy Center (a joint venture between the Brookings Institute and the Urban Institute) has an in depth calculator where you can compare your taxes based on the different plans that are being discussed.  The Washington Post has also used the calculator to project a number of typical family scenarios (as well as a few extremes).

Almost every situation leads to higher taxes on everyone, but some situations are worse than others.  If you are wondering what will happen without a deal or with one of the current proposals take a look!

How Long Will It Take To Get to 6.5% Unemployment – Brookings Investigates

The Brookings Institute examined how long it will take to return to 6.5% unemployment recently.  The level is important because the Federal Reserve set it as the benchmark rate at which it would begin to increase interest rates again.  This matters for anyone thinking about starting a business, buying a home, or borrowing money.  They conclude that even under the most optimistic of scenarios, we won’t hit 6.5% until early 2014, but it could be as long as 2018 if we continue sluggish job growth.  Read the report for a deeper look and an interactive tool!