April Marks First Monthly Budget Surplus of Obama Term
The U.S. government in April saw its first monthly budget surplus since September 2008, with large revenue helping offset below-normal federal spending.
Top White House Economist Returning to Cal
Carl Shapiro, a top White House economist, is leaving the Obama administration soon to return to his teaching post at the University of California at Berkeley.
Food Stamp Rolls to Grow Through 2014, CBO Says
CBO said 45 million people in 2011 received food stamp benefits, a 70% increase from 2007, and the number of recipients would continue growing until 2014.
March, April to Determine How Soon U.S. Hits Debt Ceiling
The U.S. government is projected to hit the $16.394 trillion debt ceiling sometime later this year, but how quickly we get there depends in large part on how things shape up in March and April.
White House Highlights Need For New Data Based on Changing Economy
One of the most interesting takeaways from the White House’s annual “Economic Report of the President” released Friday afternoon was its call for new data based on the changing complexion of both the economy and the job market.
Economic Projections and Key Numbers From CBO Budget Report
The nonpartisan CBO released its latest budget and economic forecasts this morning. Both Democrats and Republicans will find campaign trail fodder in the report, as well as reason for concern.
Campaign Renews Scrutiny of Growing Food-Stamp Program
The presidential campaign has renewed scrutiny of a program that is now used by one in seven Americans. Benefits paid through the program more than doubled in fiscal 2011 from 2008 .
White House’s Krueger Warns of Shrinking Middle Class
The White House’s top economist said income inequality in the U.S. has reached the point where the “middle class has shrunk” and it is “a threat to our economic growth,” according to prepared remarks.
Study Links Expiring Unemployment Benefits to Disability Applications
Many poor Americans seek Social Security disability payments as a financial life preserver when their unemployment benefits begin expiring, preliminary research by two economists shows.
Romney Talks Tough on China in GOP Debate
Romney said if he were elected president he would immediately launch a combative relationship with Chinese leaders and attack their currency and trade policies, as Republican presidential candidates used an evening debate to jump into an issue that is dividing leaders of their party in Washington.
Switching Government Inflation Measure Could Yield Big Savings
One proposal in the budget talks that is getting a serious look from all sides would switch the government’s way of measuring inflation and delivering a big impact on tax, spending, and entitlement programs.
Geithner: ‘Very Good Chance’ of Deficit Deal This Summer
Treasury Secretary Geithner said policy makers have a “very good chance” of getting a deficit-reduction deal this summer, though he offered few new clues about how the White House and congressional Republicans might broker such a deal.
