A Lincolnian Economic Primer for Obama
Those parsing President Obama's speech on Lincoln's birthday may not find much of Abraham Lincoln in it, beyond the symbolism. Let us hope that Mr. Obama uses the remainder of his term to get his policies right by Lincoln rather than misconstrue history in an effort to align the 16th president's pol...
Obama’s "New Normal": Tepid January Jobs Report, High Unempl...
Rep. Kevin Brady (R-TX), incoming Chairman of the Joint Economic Committee, said context is needed in today’s Bureau of Labor Statistics’ (BLS) report that the economy added 166,000 private sector payroll jobs in January and the unemployment rate rose to 7.9%.
“This is Obama’s new normal: a run-in...
Look Behind the Fourth Quarter Numbers
U.S. Representative Kevin Brady (R-TX), the Chairman-designate of the Joint Economic Committee, released the following statement on the new economic data which shows America’s economy shrank for the first time in three and a half years:
"This stunning contraction can’t be blamed simply on defense...
Weekly Economic Update: February 4-8, 2013
Consumer credit increased 0.5% to $2.778 trillion in December 2012. The ISM services index slowed 0.5 point to 55.2 in January. Factory orders rose 1.8% in December. Productivity fell 2.0% in the 4th quarter of 2012. The U.S. trade deficit shrank 20.8% to $38.5 billion. Initial jobless claims fell 5...
Recent Economic Developments: Employment, Income, and GDP
Recovery Remains Weakest on Record & Job Creation Continues Slow Crawl
Weekly Economic Update: January 14-18, 2013
Industrial production was up 0.3% in December. Retail sales rose 0.5% in December. The topline PPI fell 0.2% in December as the topline CPI was unchanged. Housing starts increased 12.1% in December as building permits were flat. Business inventories rose 0.3% in November. Initial jobless claims...
JEC response to the 2012 Economic Report of the President
The Joint Economic Committee filed its annual report responding to the 2012 Economic Report of the President.
LENDER OF LAST RESORT IN THE MODERN FINANCIAL SYSTEM
Bailouts and Lender of Last Resort functions are distinctly different in their purpose, economic effects, and appropriateness in a free market economy.
Real GDP Growth Revised Up to 2.7% in 3rd Quarter
The Bureau of Economic Analysis (BEA) revised its estimate of real gross domestic product (GDP) growth upwards by 0.7 percentage point to 2.7% today. BEA had previously estimated that real GDP grew at an annual rate of 2.0% during the quarter. The 3rd?estimate of 3rd?quarter GDP will be released on ...
