Tag: economy

Biden Admin Overcounted Job Growth Estimates by Nearly a Million

Daily Caller News Foundation
People working in an office

The federal government overestimated the number of jobs in the U.S. economy by 818,000 between April 2023 and March 2024, according to data from the Bureau of Labor Statistics released Wednesday, stoking fears of a slowdown in the U.S. economy.

Economists at Goldman Sachs (GS) and Wells Fargo anticipated the government had overestimated job growth by at least 600,000 in that span, while economists at JPMorgan Chase had predicted a lesser decline of 360,000, according to Bloomberg. The downward revision follows a trend of the BLS overestimating the number of nonfarm payroll jobs added, with the cumulative number of new jobs reported in 2023 roughly 1.3 million less than previously thought as of February 2024.

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Commentary: Two Years On, the IRA Is Exactly What Its Critics Said It Would Become

Daily Caller News Foundation
Joe Biden

In a recent interview, World Energy Council Secretary General Angela Wilkinson told me that one of the main impediments to the energy transition today is a lack of what she calls “systems thinking.”

“Energy transitions are a change in the organization of society,” she pointed out. “They’re not a simple case of swapping out one technology for another and everything else stays the same. Yet, we have this very simplistic narrative that we can take the oil system, we can put renewables in, it’s going to happen immediately, and nothing else will change. It’s like saying we’re going to take your thighbone out, but we’d like you to run a marathon.”

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Shoplifting Rose Twenty-Four Percent This Year, No End in Sight

The Center Square
Macy's department store entrance

Shoplifting has soared in the U.S. in 2024, forcing many stores to leave cities and continuing a trend in recent years.

Shoplifting has risen 24 percent in the first half of 2024 alone, according to newly released data from the Council on Criminal Justice.

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Commentary: Government Policies are Exacerbating Evictions

South Carolina Sun Staff
Eviction Notice

Evictions are soaring, and Americans can’t pay the rent, potentially throwing hundreds of thousands of families out of their homes at a time when homeless shelters are jammed to the rafters with 10 million illegal immigrants.

It’s a useful reminder that the problem with our ruling elite isn’t just President Joe Biden’s dementia. They’ve made a very big bed we’re all going to be lying in.

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Commentary: Energy Innovation Is Key to Prosperity

South Carolina Sun Staff
Nuclear Power Plant

In a recent report, “Powering Human Advancement,” The Heritage Foundation laid bare the truth that the driving force behind wealth creation and raising human development standards is the innovative harnessing of energy.

As historian Vaclav Smil sees it, “Energy is the only universal currency.”

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CBO: U.S. Budget Deficit at $1.7 Trillion over Past Year

The Center Square

The nonpartisan Congressional Budget Office this week revealed the magnitude of the federal deficit, growing to $1.7 trillion in one year, as the national public debt reached $34.7 trillion for the first time in U.S. history.

On Monday alone, the national public debt grew by $37 billion. By Tuesday, it surpassed $34.7 trillion overall.

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Commentary: Biden’s Problems Are the Real Threats

RealClearWire
Joe Biden

Democratic analysts don’t seem to understand why the all-out legal assault on President Donald Trump isn’t working. It’s because they keep talking among themselves and not with the American people.

The American people don’t live and work in the New York-Washington political-media-government bubble. If reporters and analysts listened to Americans, as we do at America’s New Majority Project, they would learn how decisive the choice between President Joe Biden or President Trump is. They would also see how difficult, if not impossible, it will be for President Biden to get easily re-elected.

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Analysis: RCM/TIPP Economic Index Slumps Again

RealClearWire

The RealClearMarkets/TIPP Economic Optimism Index, a leading gauge of consumer sentiment, dropped sharply 3.1 percent in June to 40.5. Since September 2021, the index has remained in negative territory for 34 consecutive months. June’s reading of 40.5 is 17.6 percent lower than the historic average of 49.2.

Optimism among investors edged up 0.4 percent from 46.3 in May to 46.5 in June, while it slumped by 6.0 percent among non-investors, from 40.1 in May to 37.7 in June.

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Vast Majority of Small Business Owners Worried Biden’s Economy Will Force Them to Close

South Carolina Sun Staff

A large portion of small business owners are concerned about their future amid wider financial stress under President Joe Biden, according to a new poll from the Job Creators Network Foundation (JCNF) obtained exclusively by the Daily Caller News Foundation.

Around 67 percent of small business owners were worried that current economic conditions could force them to close their doors, ten percentage points higher than just two years ago, according to the JCNF’s monthly small business poll. Respondents’ perceptions of economic conditions for their own businesses fell slightly in the month, from 70.2 to 68.1 points, with 100 points being the best possible business conditions, while perceptions of national conditions increased from 50.4 to 53.2 points.

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Congress’ Inaction on Debt ‘Irresponsible’ Says Former Comptroller

The Center Square
David Walker

The former U.S. Comptroller General said Congress’ failure to address the federal debt burden was “irresponsible.”

David Walker, former Comptroller General of the United States and a member of the Main Street Economics Advisory Board, said recent economic data should prompt lawmakers to take action before the debt problem gets worse. 

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