Another Downward GDP Revision Shows Economy Still Not Recovering
On Thursday, the Department of Commerce revised its second quarter estimate of economic growth (in terms of real gross domestic product, or GDP) down to… Read More
Morning Bell: Obama and Congress Are Choosing to Cause a Recession
President Obama recently said, “The most important lesson I’ve learned is you can’t change Washington from the inside.” That’s demoralizing to hear when a recession… Read More
Obama Ducks Responsibility for Washington’s Spending Binge
In a recent “60 Minutes” interview, host Steve Kroft primed President Obama with this statement: “Most Americans think we’re spending too much money.” To which… Read More
Two Huge Flaws in the Legend of the Clinton Economy
Two inescapable flaws mar the Clinton economic legend. One is conveniently papered over; the other conveniently forgotten. Even so, a flawed legend is better than… Read More
FACT CHECK: Have 4.5 Million New Jobs Been Created Under Obama?
It’s no secret that employment is the top concern for Americans. It stands to reason, then, that politicians will be hyping their proposals for job… Read More
Government Makes It More Difficult for First-Time Job Seekers
Last week, the U.S. Department of Labor released its Employment and Unemployment Among Youth—Summer 2012 report. While many youths (ages 16-24) found a summer job… Read More
It’s Not Getting Better: GDP Grows at a Sluggish 1.7 Percent Rate
This morning’s update from the Department of Commerce on economic activity in the second quarter shows that the economy grew at an anemic 1.7 percent… Read More
Morning Bell: Another Recession Is Imminent
Yesterday, the Congressional Budget Office (CBO) reported that without a doubt, America will have a fresh recession next year unless Congress and the President prevent… Read More
CBO Warns: President Obama and Congress Risk Triggering Another Recession
About 1.6 million American jobs hang in the balance. That is the clear implication of analysis contained in the annual budget update by the Congressional… Read More
The Results Are In: Chinese Stimulus Fails
Almost four years after implementation of worldwide economic “stimulus,” global growth remains stalled. In the U.S., the unemployment rate is still over 8 percent. In… Read More
How Much Debt Is Too Much?
Following the news that the U.S. national debt has increased by $1 trillion for the fifth year in a row and that Greece’s debt crisis… Read More
Do Budget Deficits Reflect American Character?
Ezra Klein, Mark Thoma, and Paul Krugman take issue with David Brooks for suggesting that the failure in recent years to keep budget deficits under… Read More
Even Krugman Agrees–Economy in a Dead-Cat-Bounce Recovery
Despite a recent spate of good economic data, including last week’s jobs report, the U.S. economy remains deeply depressed. Don’t take my word for it…. Read More
Americans Blame Economic Woes on Washington Before Wall Street
Americans remain convinced of Washington’s culpability in the economic crisis from which the country is still struggling to recover, according to a pair of new… Read More
News
Top 10 Reads: September 22, 2011
Catching you up on clips, commentary and news of the day. Sign up for the daily email update from Scribe The Great $16 Muffin Myth… Read More
Business Leaders: Liberal Economic Policies Are Preventing Recovery
News on Thursday that there were more new jobless claims last week than initially expected gives new weight to the words of a pair of… Read More
Obamacare: No Prescription for Economic Recovery
The economy is recovering at an unusually slow pace. Typically, employment grows strongly after a severe recession. Not this time. Unemployment remains stuck above 9… Read More
Youth Hardest Hit in Obama Economy
Whom has the recession hurt the most? There is no easy answer to that question—job opportunities have diminished for every ethnic and demographic group. But… Read More
VIDEO: Hayek vs. Keynes Rap Battle Royale
It’s not Eminem or Dre, not East Coast or West. It’s economists Hayek and Keynes, and Congress can’t decide who gets it best. They’re battling… Read More
The Obama Tax Hike and Lessons from 1937
Raising taxes on successful businesses is one thing we cannot afford to do. Large, successful businesses that create jobs would be hit the hardest, but… Read More
Outside the Beltway: Takin’ What They’re Givin’ But Not Workin’ for a Livin’
With 14.9% unemployment and a massive 800,000 jobs lost in the last decade, times are tough in Michigan. But despite the desperate conditions, some Michiganders… Read More
Oil Prices and the Economic Recovery
As oil prices steadily rise, many oil and gas experts fear higher prices could stunt economic recovery, not just in the United States but around… Read More
In Their Own Words: Spending Our Way Out of the Recession
House Majority Whip Rep. James Clyburn (D-S.C.) was quoted in The Hill earlier this week discussing the country’s economic outlook. Despite the President’s recent efforts to talk about savings, Rep. Clyburn took a different tack, saying that “wouldn’t help alleviate the recession.” He added, “We’re not going to save our way out of this recession. We’ve got to spend our way out of this recession, and I think most economists know that.”
China No Help In Recession
China announced last Friday that its economy grew 8.7% last year. Among other things, this will prompt a chorus of claims that China is leading… Read More
Outside the Beltway: California’s Nightmare the Future for Other States?
The budget shortfalls, plunging revenue, and economic woes plaguing near-broke California could foretell the future of other cash-strapped states. A new study by The Pew… Read More
Crime and Recession: Initial Clues
With the recession officially beginning in December 2007, some speculated the economic downturn would result in increased crime, especially property crime. Yet, the Department of… Read More
Recession is Latin for Tough Love
“There is no disagreement,” said President Obama, “that we need action by our government, a recovery plan that will help jump start the economy.” Those… Read More
A Ray of Hope for the British Armed Forces
There’s not been a lot of good news for, or about, the British armed forces recently. When the Economist asked, in its Jan. 29, 2009… Read More
When a ‘Tax Cut’ Isn’t a Tax Cut
“So my whole goal over the next four years,” President Barack Obama said Monday night at the end of his first prime-time White House news… Read More
‘We’re Spending More Than Ever and It Doesn’t Work’
“We have tried spending money. We are spending more than we have ever spent before and it does not work.” Sound like, oh, Rep. John… Read More
