Why U.S. Runs Chronic Budget Deficits

The U.S. Federal government runs large deficits year after year. This is because total government expenditures far exceed total revenues. For example, under the Obama administration the Federal deficit was $1,293 billion and $1,300 billion for the fiscal years 2010 and 2011 respectively. For the fiscal year 2012 it is projected to reach $1,327 billion. Federal government expenditures rose …

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Chart: Commodity Prices Since 1800

The following chart shows the price of an index of commodity prices from 1800: Click to enlarge Source:  Quarterly Commentary 2, Allan Gray Investment Management, South Africa Despite the rise in commodity prices in the past two decades the long-term trend is still down. According to the author of the report, over the past two centuries …

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Knowledge is Power: Federal Tax Dollars, German Lessons, Brazil Edition

Nationalised family, privatised state U.S. poverty rates higher, safety net weaker than in peer countries How democracy begins: Evidence from colonial British America Policy Basics: Where Do Our Federal Tax Dollars Go? German lessons 36 weird economic indicators that you’ve never heard of How to profit from Brazil’s infrastructure splurge Musee du Louvre, Paris, France