Josh Barro Profile picture
30 Nov, 5 tweets, 2 min read
These international comparisons are virtually always incorrect, and always in the direction of overstating the generosity of foreign systems. To take one example: The Italian subsidy is 80% of wages *up to a cap* around €1,200 per month.
In fact, the US fiscal response has to date been larger than is typical in other wealthy countries, relative to our GDP. The smaller headline numbers for total spending in the European packages shows they're not as big or as universal as you think. theatlantic.com/ideas/archive/…
"Indeed, the U.S. provided fiscal support equivalent to roughly 12 percent of its GDP, data from Moody’s Analytics show, one-third more than Germany and twice as much as the U.K. Other than Australia, no large, wealthy country did more to support its economy."
What "fiscal support" means is payments like this. If European countries really had a worker-focused COVID fiscal response that was different in kind in the way American liberals imagine, their fiscal support numbers would be larger than ours, and they're not.
Now of course, the US-Europe difference can change over time, with the failure of congress to pass a new relief bill. But the volume of monthly lost wages was so much higher in April than now, you'd need to go a long time for that gap to reverse. And the vaccines are coming.

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More from @jbarro

1 Dec
Eh. Given who isn’t quoted in this story, it doesn’t sound like Bernie world is necessarily seething that much about Tanden. Briahna Joy Gray is mad, as usual.
Calling something “a slap in the face” on background is kind of amazing. Image
The next on-the-record quote is from Kurt Ehrenberg. Who? He’s a former New Hampshire-specific adviser who got squeezed out of the campaign in September 2019 after butting heads with other staffers, per WMUR. wmur.com/article/top-ad… Image
Read 4 tweets
30 Nov
As usual, Glenn's writing would be a lot better if an editor went through and struck out all the adjectives. Show, don't tell, Glenn.
Here's an example of what a good line-edit would do to Glenn's writing.
Wait, excuse me, needs more trims! Tanden was never affiliated with the DNC.
Read 5 tweets
28 Nov
The brain-fog that comes from the highly unusual demographics and environment of journalists is actually worse than @DKThomp describes here. Because there is an added layer: we work in an industry that's been in recession for more than a decade. theatlantic.com/ideas/archive/…
@DKThomp Journalists' perspective on the economy is shaped by that environment: Everything perpetually lean and getting worse, with a plausible story about the Big Tech companies being to blame. It leads to coverage that is cynical, pessimistic, and out of touch with the broad public.
@DKThomp The political facts on the ground about the economy through 2019 -- tight labor markets, good wage growth, and the best public satisfaction with the economy in 20 years -- were simply not perceptible to so many writers, in part because things sucked so much in our industry.
Read 4 tweets
28 Nov
The person of the year is Joe Biden
If they don’t give it to Joe that will be such BS
If it doesn’t go to him it will be “the vaccine scientists” or something but they can be person of the year next year.
Read 4 tweets
26 Nov
One silver lining of this year’s smaller Thanksgivings is the opportunity to try out recipes you might not if you were feeding twelve people. Here are my herb-rubbed racks of veal, going in the fridge to rest before roasting this afternoon. Image
That’s this recipe, though I think I’m going to roast slowly on 250 and then crank up the heat at the end to brown instead of browning first. foodandwine.com/recipes/roaste…
Veal rib roast with pan gravy, green beans with garlic and thyme, Ina Garten’s savory bread pudding with apple and herbs, and cranberry pepper relish. Image
Read 4 tweets
26 Nov
5-4 but if you read the Chief’s dissent it sounds like it could well be 6-3 in the event that New York sought to reimpose the restrictions in dispute (which were lifted for now due to improving COVID conditions in the relevant neighborhoods)
The plaintiffs here have a point about these restrictions not being neutral— certainly in secular contexts, liberals have tended to notice how arbitrarily some risk activities are permitted and others prohibited— and governments may need to think on how to draw more neutral ones.
For example, there are certain aspects of religious ceremonies, like singing indoors, that pose particular risk and could be prohibited in secular and religious contexts. And houses of worship can be subjected to capacity limits in line with secular institutions.
Read 4 tweets

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