GDP Articles

The Future of Debt

3:28 PM, Jun 17, 2015

The subject of debt – how much and how tolerable – slipped into the shadows for a time. But yesterday, it reappeared. As Rebecca Shabad of the Hill reports:

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The Economy Remains a 'Puzzlement'

11:01 PM, Jun 05, 2015

On Friday we learned that the U.S. economy surprised on the upside by adding 280,000 new jobs in May, and that 32,000 more jobs had been created in March and April than originally reported. The fact that economic growth is still sluggish, while more and more workers are finding jobs, suggests that productivity -- output per man-hour -- is slowing.

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President Obama's Alibi Factory

'Things are fine...really they are.'
11:00 AM, May 31, 2015

Lets say that next Friday, the Bureau of Labor Statistics comes out with a really handsome non-farm-payrolls report. Something close to 300,000 new jobs and a decline in the unemployment rate by a couple of tenths of a point. How do you suppose the president and his staff would deal with the news? 

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What to Make of the GDP Data?

11:01 PM, May 01, 2015

Last week’s surprising report that the value of all the goods and services produced in America did not grow in the first quarter, which will be subject to two revisions as firmer data come in, tells us one of two things.

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Increase The Minimum Wage And Raise GDP

Gleanings and observations.
2:09 PM, Apr 29, 2015

The Democrats have finally decided on the fair, just minimum wage -- $12 per hour. But they fail to make one important point in favor of their demand. Recall the tale of the diligent robbers who spend a weekend drilling into the vault of a posh jeweler, making off with millions in bling for their labor. Commenters, this Gleaner included, failed to mention that the creation of half-dozen new millionaires must raise average incomes in Britain, where the theft occurred.

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A Misleading Comparison on Taxes

2:50 PM, Apr 15, 2015

The Daily Beast’s Michael Tomasky is celebrating this April 15 by declaring that America is “the most undertaxed advanced country in the world.” He claims that this chart offers proof of his assertion.

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GDP: Good News Inside the Bad News

9:44 AM, Feb 27, 2015

The economy did not grow as robustly in the 4th quarter as had been thought.  Bloomberg reports that:

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Disappointing GDP

12:34 PM, Jan 30, 2015

Listen to the president, his staff, and his supporters and you might be ready to believe that the economy is on a rocket ride to prosperity.  More jobs, lower gas prices, increased consumer spending.  So now, at last, we can afford to do away with sequestration and other implements of austerity.  Time to grow and spend and prosper.

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Underwhelming Growth

What the new GDP figures actually reveal.
Oct 13, 2014

Two weeks ago the Commerce Department released its final estimate of Gross Domestic Product for the second quarter. That marked five years since the recession ended—a period of massive experimentation with expansionary fiscal and monetary policy. While those policies were doubtless well intended, all they did was what standard economic theory says they would do—move future economic output to the present. They did not by any means increase long-term economic growth.

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Jobs & GDP: Not Bad

7:43 AM, Aug 28, 2014

Jeanna Smialek and Shobhana Chandra of Bloomberg reports that:

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A No-Growth GDP

8:04 AM, Apr 30, 2014

The numbers on 1st quarter GDP are, in a word, dismal.  An economy that had been limping along came nearly to a standstill. As Jeanna Smialek of Bloomberg reports:

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Good Timing

7:52 AM, Jun 26, 2013

One day after the president declared war on coal and committed his administration to making electricity – and, thus, just about everything else – more expensive, the 1st quarter GDP growth figures were revised down from a tepid 2.4 percent to an anemic 1.8 percent.

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Declining Deficits

Economic growth is the imperative, not budget cuts.
May 27, 2013

The burgeoning deficit has stopped burgeoning, at least for now. So Republican plans to attack the profligate president and to use the debt ceiling as a weapon to get more spending cuts can be shelved. Conservative deficit hawks should turn to a more immediate and important task—devising policies that will help the economy to grow at a rate that ends middle-class malaise and gets the millions who are out of work back into the workforce.

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More of the Same

8:33 AM, Apr 26, 2013

Economists surveyed by the Wall Street Journal were predicting that we would learn, this morning, that Gross Domestic Product had grown by 3.2 percent in the last quarter. Sorry about that; the economy said as the number came in at 2.5 percent.

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Expect the Unexpected

10:24 AM, Jan 30, 2013

We had been hearing talk of an economy that was picking up steam and a recovery that was, at last, on track. Now, it appears that recovery has stalled. Or worse. Bloomberg reports that in last year's fourth quarter:

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Alternate Reality for the New York Times

10:33 AM, Oct 29, 2012

There are two U.S. economies. Well, not really. But there is the economy reported in the New York Times as part of its pre-election coverage, and far different one reported in the authoritative financial press.

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Average GDP Growth Less than Half of What Obama Predicted

8:00 AM, Oct 26, 2012

The average GDP growth for the first three quarters of this year is 1.77 percent, according to data released by the the Bureau of Economic Analysis this morning. That is less than half of what the White House predicted GDP growth would be this year, and less than a third of what the Obama administration projected when it first took office.

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Obama versus the Gipper

3:30 PM, Jun 15, 2012

Yesterday, I noted that we have generally had our strongest periods of economic growth coming out of our deepest recessions, and I compared FDR and Obama in this vein.  Another good comparison is a more recent one — between Obama and President Reagan.

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This Lousy Economy, in Three Simple Charts

10:00 AM, Jun 01, 2012

The May jobs report came out today and showed an economy barely adding any jobs: Just 69,000 were added last month, and the unemployment rate increased. This follows news yesterday that GDP was revised downward for the first quarter, and a report today that real incomes remain essentially unchanged.

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Bad Economic News

8:00 AM, Jul 29, 2011

Reuters reports on the latest bad economic news:

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Morning Jay: Why Won't the GOP Agree to a Tax Increase?

5:00 AM, Jul 06, 2011

Eugene Robinson is outrageously outraged over Republican perfidy:

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We Don’t Have a Revenue Problem

We have a spending problem and a growth problem — in that order.
9:03 AM, May 23, 2011

On Meet the Press, Rep. Chris Van Hollen, the ranking Democrat on the House Budget Committee, said that “political courage on the Republican side means taking on the revenue piece” of the deficit equation.  In other words, it requires Republicans to support raising taxes.  Time’s Mike Murphy and NBC’s Andrea Mitchell agreed. But these assertions belie the facts.

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A Historic Flood of Red Ink

Obama’s mind-boggling budget
Feb 28, 2011