The figure, up from 2.5 percent growth in the same period last year, was revised up from a previous estimate of 4.2 percent
It looks like Congress' massive spending cuts will indeed begin in March. Sam Stein and Zach Carter join Alicia to discuss.
If automatic spending cuts under sequestration go into effect on March 1, the Navy would have to cut a further $4.08 billion
Orszag's skepticism seemed justified as Republicans called for further austerity. White House Press Secretary Jay Carney
The congressional emphasis on austerity is most heavily concentrated in the Republican Party, which has been advocating deep
The nation's economy expanded at an annual rate of 2 percent last quarter, according to this morning's GDP report. That's faster than last quarter's 1.3 percent and a bit above what most analysts were expecting, so that's good. But it's also just trend growth -- 2 percent is about what it takes to keep the job market pretty much where it is. I could easily write the campaign press releases: Romney/Ryan: growth too slow! Obama/Biden: 13th quarter of expansion, growth picked up from last quarter, no time to change horses (I'd add: especially when the other horse wants to run hard in the wrong direction).
Romney is focusing on the public's economic concerns heading into the final days of the campaign as polls suggest Americans
This is good news, but not, as Josh Biven, an economist at the Economic Policy Institute, sees it, good enough. "The headline
The long awaited GDP report is out. Notice it wasn't just durable goods that saw increases: non-durable goods and services also increased. And not by small amounts.
According to Third Quarter reports, the Great American Recession is over. Are those numbers to be believed? The smart money is skeptical; you should be too.
The IRS doesn't consider credit to be income, or else it would tax us on all our debts. However, in the case of the U.S. government measuring GDP, the opposite logic applies.