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Daily Archives: August 24, 2011

Budget and Economic Outlook: An Update – August 2011

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Budget and Economic Outlook: An Update – August 24, 2011

  • “The United States is facing profound budgetary and economic challenges. At 8.5 percent of gross domestic product (GDP), the $1.3 trillion budget deficit that the Congressional Budget Office (CBO) projects for 2011 will be the third-largest shortfall in the past 65 years (exceeded only by the deficits of the preceding two years). This year’s deficit stems in part from the long shadow cast on the U.S. economy by the financial crisis and the recent recession. Although economic output began to expand again two years ago, the pace of the recovery has been slow, and the economy remains in a severe slump. Recent turmoil in financial markets in the United States and overseas threatens to prolong the slump.”
  • Related postings on financial system

    • Estimated Impact of American Recovery and Reinvestment Act on Employment and Economic Output: April 2011 – June 2011

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    CBO: Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from April 2011 Through June 2011 “The American Recovery and Reinvestment Act of 2009 (ARRA) contains provisions that are intended to boost economic activity and employment in the United States. Section 1512(e) of the law requires the Congressional Budget Office… Continue Reading

    July’s Indexes of Coincident Economic Indicators Show Economic Activity Picking Up Across the Region

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    Federal Reserve Bank of New York: The July Indexes of Coincident Economic Indicators (CEIs) for New York State, New York City, and New Jersey, released today, reveal that economic activity continued to expand in both New York State and New York City and—for the second month in a row—picked up moderately in New Jersey. The… Continue Reading

    New GAO Reports: Impact of Potential Oil Shale Development, Maritime Security, EPA Lab Management

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    Energy Development and Water Use Impacts of Potential Oil Shale Development on Water Resources, GAO-11-929T, August 24, 2011 [See also related postings on shale] Maritime Security – Progress Made, but Further Actions Needed to Secure the Maritime Energy Supply, GAO-11-883T, August 24, 2011 Environmental Protection Agency – To Better Fulfill Its Mission, EPA Needs a… Continue Reading

    Commentary: Accessibility vs. access: How the rhetoric of “rare” is changing in the age of information abundance

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    Accessibility vs. access: How the rhetoric of “rare” is changing in the age of information abundance by Maria Popova. “Over the past few years, the fledgling field of the digital humanities has made significant strides with a number of ambitious digitization projects bringing online rare cultural artifacts — manuscripts, canvases, celluloid, marginalia — that used… Continue Reading

    SSI Annual Statistical Report, 2010

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    SSI Annual Statistical Report, 2010 – Social Security Administration, Office of Retirement and Disability Policy, Office of Research, Evaluation, and Statistics, August 2011. Size and Scope of the Supplemental Security Income Program and Profile of Recipients as follows: “About 7.9 million people received federally administered payments in December 2010. The average monthly payment in December… Continue Reading