If you’re interested in keeping up with details about the economy but don’t have the time or interest — or the stomach — to follow daily developments, then you might want to make a point of reading Bill McBride’s weekly summaries that appear every Saturday on his blog Calculated Risk.
Tag: GDP
NYT: Americans’ tax burdens mostly lower than in 1980
Federal, state, and local government revenues meanwhile slipped from 28.6 percent of GDP in 1980 to 26.9 percent in 2010. Again, the recession is in part to blame for the recent decline in tax revenues, and Obama’s original stimulus and followup steps to goose the economy have also involved hefty tax cuts.
Does Black Friday have to become Black Thanksgiving?
I write a lot about Savannah’s retail landscape, but I’m not much of a shopper. My last batch of shirts — both casual and “work” — came from Goodwill. Last week, I needed some new shoes; I bought three pair at Payless in 15 minutes for $37.
I’d never dream of going out super-early on the Friday after Thanksgiving to buy anything, but I get it — some of those markdowns on major items can make a huge difference for many Americans.
Homebuilder confidence and the housing rebound
I’m generally skeptical of measures of confidence in predicting future economic conditions, but the recent rebound of the National Association of Home Builders’ housing market index (HMI) can’t be discounted too much.
Are you better off than you were four years ago?
“Of course, Obama has no chance of getting a second term in this economy,” my friend said definitively. “And whoever gets elected in 2012 will be a one-term President too.”
The ongoing drag of housing on the U.S. economy
In his latest Savannah Morning News column, Nicholas Mangee gives a great overview of the continued drag of housing on the economy.
GDP growth in 1st quarter restrained by government cuts
The economy grew at a 2.2% annual rate in the first quarter, according to the advance estimate that is subject to major revision. Cuts to military spending restrained growth while new residential investment added to it.