The OECD released its latest report on the Economic Outlook for OECD countries yesterday. From the report: “Economic activity in OECD countries will gradually pick up steam over the coming two years, but the recovery will be uneven and unemployment will remain persistently high, according to the OECD’s latest Economic Outlook. Gross domestic product (GDP) across …
Continue reading ‘OECD: Emerging Markets to Grow at a Faster Pace’ »
The U.S. economy is projected to grow 2.6% this year and 2.3% next year according to IMF estimates. In September, the National Bureau of Economic Research (NBER) declared that the 2008 financial crisis recession ended. However most Americans feel that the economy is still in deep recession. This can be attributed to stubbornly high unemployment …
Continue reading ‘Bob Goodman: U.S. to Experience Slower Economic Growth Over the Long Run’ »
Americans pay billions of dollars in taxes each year to the Federal government. However when it comes to knowing how the government spends the taxes collected many people have misconceptions. From an recent article in The Wall Street Journal: “A recent Kaiser Family Foundation survey found that 40% thought foreign aid was one of the …
Continue reading ‘How Does the Federal Government Spend Our Taxes?’ »
The mid-term elections are finally over. According to the latest news, the Republican party has seized the House of Representatives winning at least 60 seats from the Democrats. This is a major blow to Obama and his democratic party. Republicans primarily won because of voters’ unease on the current state of the U.S. economy. From …
Continue reading ‘Can Obama Transition the Democratic Party To An Economic-Growth Party?’ »
The U.S. economy at over $14.0 Trillion is the largest economy in the world. However personal consumption accounts for most of the GDP. Since the late 1990s, the share of personal consumption in the GDP has been growing consistently and exceeded the long-term average of about 66%. In 2009 it peaked at 71% of the …
Continue reading ‘Growth of U.S. Personal Consumption, Income and Household Liabilities’ »