In calendar year 2014, the budget deficit was $488 billion, $72 billion less than in 2013 and the smallest deficit since 2007. Since the start of 2010, revenues have risen from $2 trillion to $3 trillion, while spending has been…
President Obama’s December Executive Order granting temporary immigration relief will boost GDP by 0.5% over the next decade, while the 2013 Senate-passed immigration bill would have boosted GDP by over 3%. Obama’s Order helps primarily undocumented immigrants, most with very…
Before oil prices can rise, production must decline and/or demand must rise and demand won’t increase anytime soon with Europe, Japan and Brazil weak, Russia in recession and China slowing. That means supply must fall and that will probably require…
While the economy created 252,000 jobs in December and 2.95 million last year, the most since 1999, and the unemployment rate fell to 5.6%, looks can be deceiving. The steep unemployment rate decline is because the labor force participation rate…
The Friday File: At age 50, the average man can expect to live an additional 29.25 years, while the average woman can expect 30.5 more years of life. Wealth plays a huge role. Among the poorest 10%, life expectancy beyond…
Current oil prices will save US households $150 billion over the next year if they hold. But these benefits will come slowly. However, the decline in energy stocks which make up 8% of the S&P 500 and 12% of its…
With so much global turmoil, the declining yields on US Treasuries isn’t surprising as investors across the globe pour money into to Treasuries given their status as the world’s safest investment. Another reason is that close to $800 billion in…
While there are always potential economic problems that could harm our economy in 2015, the biggest is Europe. This is because of the chance, albeit remote, that the continent badly unravels. A combination of a Greek default or (maybe) exit…
While personal income tax reform sounds great, lower rates necessitate eliminating or reducing tax breaks. The biggest is the $207 billion exclusion for employer-sponsored healthcare plans. The next four are the $103 billion exclusion for employer-sponsored retirement plans, the $74…
The Friday File: Americans bought 257 million albums last year of which a surprising 9.2 million were vinyl. Individual song sales totaled 1.1 billion, while streamed songs totaled 164 billion! Purchases of albums and individual songs fell about 10%, vinyl…