Today, we are fortunate to have a guest post written by Kadee Russ, Associate Professor of Economics at University of California, Davis, and formerly Senior Economist for International Trade, Council of Economic Advisers.
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The slowdown in U.S. economic growth
The Bureau of Economic Analysis announced yesterday that U.S. real GDP grew at a 1.9% annual rate in the fourth quarter, well below the historical average of 3.1% per year, but close to the 2.1% average since the recovery from the Great Recession began in 2009:Q3.
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Making American Growth Great (by Spaceology*)
From the Trump-Pence website:
DONALD J. TRUMP’S VISION
…
Boost growth to 3.5 percent per year on average, with the potential to reach a 4 percent growth rate.
Will You Get “Alternative GDP Data” Next?
If “alternative facts” are here, how far behind can “alternative statistics” be?
From Politico:
Federal agencies are clamping down on public information and social media in the early days of Donald Trump’s presidency, limiting employees’ ability to issue news releases, tweet, make policy pronouncements or otherwise communicate with the outside world, according to memos and sources from multiple agencies.
More on the Trade Deficit and Economic Growth
In an EconoFact post from Saturday, Michael Klein and I noted that usually for the US, the trade deficit grows during times of robust economic growth.
The Trump Administration SOP
Expect prolific and extensive citation of “alternative facts” going forward:
Source: Search term: “alternative facts”, Google Trends accessed 8:17 PM CST 1/22/2017.
EconoFact: Bringing Facts and Data to Policy Debates
EconoFact is a non-partisan publication, online starting today, designed to bring key facts and incisive analysis to the national debate on economic and social policies. It is written by leading academic economists from across the country who belong to the EconoFact Network, and published by the Edward R. Murrow Center for a Digital World at The Fletcher School at Tufts University. The co-editors are Michael Klein and Edward Schumacher-Matos.
Marches across the Nation Today
Source: NYT.
Guest Contribution: “Health Care and John D. Rockefeller’s Dog”
Today we are pleased to present a guest contribution written by James Kwak, professor at the University of Connecticut School of Law. He is the author of Economism: Bad Economics and the Rise of Inequality, and contributor to The Baseline Scenario.
December Employment in Wisconsin
Civilian employment and nonfarm payroll employment both decline.