Today, the Census Bureau announced that one in seven Americans lived in poverty last year. Reporting income and poverty statistics for 2009, the Bureau said median income did not change substantially, remaining around $49,800. But the poverty rate climbed to 14.3 from 13.2 percent. That means that during 2009, More…
Sometime this week, the Census Bureau will release figures on poverty in the United States in 2009. The Associated Press asked some demographers to sketch out the probable results — and they are grim.
The demographers estimate the poverty rate will increase year-on-year from 13.2 percent to about More…
In June, new home sales rebounded from their record-low rate to … the second-lowest rate ever recorded. The Commerce Department announced that home sales increased 23.6 percent to a seasonally adjusted annual rate of 330,000, up from an annual rate of 267,000 in May. The pace of sales declined More…
This morning, the Commerce Department released its latest set of data on income and consumption. The good news? They are both growing — Americans are earning more, and spending more. The bad news? Consumption is growing faster than income, and Americans are saving less to fuel their purchases.
But More…
The big macroeconomic news today is that the United States’ GDP grew at a 3.2 percent per year pace in the first quarter — the third straight quarter of strong growth, weaker than the 5.6 percent pace in the fourth quarter of 2009 and right in line with economists’ More…
China, where, as a matter of policy, the yuan is deliberately undervalued in order to keep Chinese exports cheap, is now attacking the U.S. for its weak currency. Is there a translation for “the pot calling the kettle black?” In better news, at least the Chinese finally acknowledged More…
The New York Times reports that the U.S. economy grew last quarter for the first time in the past year:
Gross domestic product expanded at an annual rate of 3.5 percent in the three months ending in September, a significant spike from a relatively shrunken base. The
Byron York had been working the sleepy “Census controversy” beat yesterday, so it makes sense for his story today to focus on how Republicans were fretting about the issue before Sen. Judd Gregg (R-N.H.) withdrew his nomination for commerce secretary.
“I think he had buyer’s remorse,” one GOP
Politico’s spin-crunching machine busts a gear in this analysis of what Republicans are saying about Sen. Judd Gregg’s (R-N.H.) withdrawal of his nomination for commerce secretary.
Nevertheless, for a Republican Party desperately careening from message to message, from “Drill Baby Drill” to “The Future is Cao,” Gregg’s move has
It seems that Sen. Judd Gregg (R-N.H.), President Barack Obama’s pick to head the Commerce Department, doesn’t exactly believe in the necessity of that agency.
CQ’s Jonathan Allen points out that Gregg, one of the upper chamber’s most vocal fiscal hawks, voted twice in 1995 to abolish the department More…
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