Despite what antigovernment conservatives say, non-defense discretionary spending on areas like foreign aid, education and food safety was not a driving factor in creating the deficits. In fact, such spending, accounting for only 15 percent of the budget, has been basically flat as a share of the economy for decades. Cutting it simply will not fill the deficit hole.
Tag: money
Venture For America Will Do For Entrepreneurship What Teach For America Does For Education | Fast Company
Like Teach For America, VFA will bring promising college graduates to work in underserved communities for at least two years. Startups that focus on up-and-coming industries (i.e. education innovation, energy, biotechnology) will be offered a VFA fellow for a salary of $32,000 to $38,000 annually. At the end of the two years, the companies can opt to hire fellows under new terms.
Weekly Economic Update | LAEDC
THIS WEEK’S HEADLINES:
- U.S. Trade Deficit Widens in May Due to Rise in Oil Prices
- A Mixed Retail Sales Report for June
- Taking a Harder Look at Weekly Data on Initial claims for Unemployment Benefits
- California’s Budget Position at June Fiscal Year End
- Southland Home Sales Fall by -14% in June
- California Exports Continue to Shine
- May California Imports
- June Port Figures – Record Growth Trend Comes to an End
- Headline Inflation Declines in June
- Wholesale Prices Decline in June
- Events of Interest
- July 20, 2011: Mid-Year Economic Forecast
- July 28, 2011: LA NABE Luncheon Meeting
Weekly Economic Update | LAEDC
THIS WEEK’S HEADLINES:
How Frequent Fliers Exploit A Government Program To Get Free Trips : Planet Money : NPR
Once in possession of the coins — shipped to them by the government for free — they can deposit them into their bank accounts and pay off the credit card bills. The result: a free ticket to anywhere.
Weekly Economic Update | LAEDC
THIS WEEK’S HEADLINES:
- Revised Estimates for Q1-2011 U.S. Corporate Profits
- California’s Home Resales Decline by 14.4% in May
- New Home Construction in May
- May Permit Values for Nonresidential Construction
- Spending on Travel & Tourism Slows in 1st Quarter
- World Trade
- Update on Japan
- Events of Interest
- July 20, 2011: Mid-year Economic Forecast
Seven Problems a Recovery Won’t Fix – Umair Haque – Harvard Business Review
It’s time to stop looking for “recovery” (as in ways to resurrect this drooling zombie of an industrial economy) and start seeding transformation (as in building a 21st century economy, that turns most or all of the toxic dynamics above upside down). It’s time to stop thinking about getting back to yesterday’s prosperity — and time to start thinking about how to get past it.
Congress takes aim at 401(k)s | Bankrate.com
The Congressional Joint Committee on Taxation and the Treasury Department’s Office of Tax Analysis conclude that these retirement planning programs will cost the federal government about $600 billion in lost revenue over the next five years.
Weekly Economic Update | LAEDC
THIS WEEK’S HEADLINES:
- May 2011: A Weak Month for California Payrolls
- SoCal Home Sales and Prices: Sharp Decline in May
- California’s Budget Position in May
- May Port Figures – 18 Consecutive Months of Growth
- Update on Japan
- Core Consumer Prices Rise at Faster Pace in May
- Advancing Wholesale Prices Slow in May
- Events of Interest
- July 20, 2011: Mid-year Economic Forecast
Weekly Economic Update | LAEDC
THIS WEEK’S HEADLINES:
- Profile of the Economic Recovery—To Date
- The Fed’s Beige Book June 8, 2011: Economy “Generally Continued to Expand”
- Consumer Credit in April
- U.S. Trade Deficit Narrows in April as Exports Reach Record High
- California Exports Continue to Impress
- April California Imports
- Events of Interest
- July 20, 2011: Mid-year Economic Forecast
Dispatches From The Front 