White House report tries to shift Trump health care rhetoric
WASHINGTON (AP) — A new report from the White House tries to shift the Trump administration's combative rhetoric on health care, suggesting changes to the Affordable Care Act under President Donald Trump do not fundamentally undermine the health law.
Government shutdown may upend State of the Union speech
WASHINGTON (AP) — A grand Washington ritual became a potential casualty of the partial government shutdown Wednesday as House Speaker Nancy Pelosi asked President Donald Trump to postpone his Jan. 29 State of the Union speech. She cited concerns about whether the hobbled government can provide adequate security, but Republicans cast her move as a ploy to deny Trump the stage.
Former White House economist joins Chicago school board
CHICAGO (AP) — An economist who served on the Council of Economic Advisers during the Obama administration has been appointed to the Chicago school board.
Austan Goolsbee is a professor at the University of Chicago. Mayor Rahm Emanuel announced his appointment to the school board Friday.
Goolsbee says the Chicago school system is one of the city's "crown jewels." He served on the three-member Council of Economic Advisers for about 2 ½ years, including a period as chairman.
Nobel prize-winning economist James Mirrlees dies at 82
LONDON (AP) — Cambridge University says economist James Mirrlees, the co-winner of the 1996 Nobel prize in economics, has died. He was 82.
Mirrlees, who died Wednesday, studied public economics, or the role of the public sector in the market economy.
He examined devising an optimal income tax regime balancing efficiency and equity. He shared the Nobel with William Vickrey of Columbia University.
President Trump's proposed $1.5 trillion infrastructure plan would pay off with not only gleaming new highways but a significant boost to the U.S. economy, according to a analysis released Wednesday by the White House Council of Economic Advisers.
The council estimates that the 10-year infrastructure program could add between 0.1 and 0.2 percentage point to average annual real growth in gross domestic product (GDP).
That's tens of billions of dollars to America's more than $19 trillion economy.
German panel ups growth forecast but warns on trade war
BERLIN (AP) — A council of economic advisers to the German government thinks Europe's biggest economy will grow by more than it previously thought this year, while warning of the risks of a possible trade war with the U.S.
The five advisers said Wednesday they're predicting 2.3 percent growth for Germany in 2018, with the world in a "synchronized expansion phase." They'd previously predicted 2.2 percent growth in the fall — the same growth as in 2017.
On drug costs, modest steps follow Trump’s big promises
WASHINGTON (AP) — President Donald Trump makes big promises to reduce prescription drug costs, but his administration is gravitating to relatively modest steps such as letting Medicare patients share in manufacturer rebates.
Those ideas would represent tangible change and they have a realistic chance of being enacted. But it's not like calling for Medicare to negotiate drug prices.
White House: True cost of opioid epidemic tops $500 billion
WASHINGTON (AP) — The White House says the true cost of the opioid drug epidemic in 2015 was $504 billion, or roughly half a trillion dollars.
The Latest: Economic adviser talks tax bill with GOP foe
WASHINGTON (AP) — The Latest on the Republican-pushed tax overhaul legislation (all times local):
The chairman of the Council of Economic Advisers says he met yesterday with a senator who opposes the senate's tax overhaul plan.
Kevin Hassett tells reporters at the White House Friday that he met Thursday with Wisconsin Sen. Ron Johnson, who opposes the Senate bill that would slash the corporate tax rate and reduce personal income tax rates for many.
White House says tax cuts could add $1.2T to US economy
WASHINGTON (AP) — President Donald Trump's top economist is doubling down on claims that corporate tax cuts would spark rapid economic growth and boost incomes.
WASHINGTON — Kevin Hassett evidently has not received the memo that economics is “the dismal science.” The ebullient chairman of the president’s Council of Economic Advisers is relishing the intellectual feast of applying to policymaking the predictive tools of a science that was blindsided by the Great Recession. Economists, like other scientists, learn things even when — actually, especially when — they are surprised. What must surprise Hassett today is that acrimony has infected even...
Kevin Hassett evidently has not received the memo that economics is "the dismal science." The ebullient chairman of the president's Council of Economic Advisers is relishing the intellectual feast of applying to policymaking the predictive tools of a science that the Great Recession blindsided.
WASHINGTON — Kevin Hassett evidently has not received the memo that economics is "the dismal science."
The ebullient chairman of the president's Council of Economic Advisers is relishing the intellectual feast of applying to policymaking the predictive tools of a science that was blindsided by the Great Recession.
Senate backs Trump pick for Economic council
WASHINGTON (AP) — The Senate has confirmed President Donald Trump's choice to head the Council of Economic Advisers.
The vote was 81-16 on Tuesday for Kevin Hassett, a tax expert at the right-leaning American Enterprise Institute think tank. Hassett has served as an adviser to the presidential campaigns of three GOP candidates — George W. Bush, Mitt Romney and Sen. John McCain.
Trump chooses key economics adviser
WASHINGTON (AP) — President Donald Trump chose Kevin Hassett, an economics adviser to past Republican presidential candidates, on Friday to be chair of the White House Council of Economic Advisers. Hassett will play a critical role in analyzing the performance of the economy and impact of policy changes.