economic growth

Biden continues using executive power to help working people

Leave a Comment / Buy American Act, economy / By max cyril

President Joe Biden will sign an executive order strengthening Buy American policies on Monday. While such provisions, which encourage federal agencies to buy U.S.-made products, already exist, they’re filled with loopholes and haven’t always been followed. “Existing Buy American rules establish a domestic content threshold—the amount of a product that must be made in the U.S. for …

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The Reality Behind the ‘Surging’ U.S. Economy

Leave a Comment / economy / By max cyril

The big headline numbers do sound encouraging. The unemployment rate is down to 3.6%, the lowest since 1969. Average earnings are finally outpacing inflation, the stock market has been hitting record highs, and the first quarter of 2019 had the fastest annualized growth rate (3.2%) since 2015. And yet most of the gains from our …

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We Must Create Good Jobs: Sherrod Brown Shows the Way Forward

Trump falsely claims he created thousands of new jobs, and news outlets lap it up

Leave a Comment / President Trump / By max cyril

It was a huge announcement. An announcement so full of winning that we may even get tired of winning. “Because of what’s happening and the spirit and the hope,” President-elect Donald Trump told reporters on Wednesday, “I was just called by the head people at Sprint and they’re going to be bringing 5,000 jobs back …

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Income Inequality Is off the Charts. Can Local Policies Make a Difference?

Leave a Comment / Income inequality / By max cyril

The income gap between the classes is growing at a startling pace in the United States. In 1980, the top 1 percent earned on average 27 times more than workers in the bottom 50 percent. Today, they earn 81 times more. The widening gap is “due to a boom in capital income,” according to research …

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Enormous, Humongous $42.6 Billion October Trade Deficit Is Unbalanced

The letter from Carrier to its employees that Donald Trump doesn’t want you to read

Leave a Comment / Outsourcing / By max cyril

On Thursday, President-elect Donald Trump traveled to the Carrier factory in Indianapolis, Indiana to tout the deal he helped orchestrate to keep about 800 manufacturing jobs in the United States in exchange for state and federal incentives, including $7 million from Indiana. “Companies are not going to leave the United States anymore without consequences. Not …

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Will Artificial Intelligence Mean Massive Job Loss?

Leave a Comment / technology / By max cyril

In the late 1970s, my early years at the University of Massachusetts Boston (UMB), the Department of Economics had two secretaries. When I retired, in 2008, the number of faculty members and students in the department had increased, but there was only one secretary. All the faculty members had their own computers, with which they …

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The Deficit Is Falling, But Where Are The Jobs?

Leave a Comment / Uncategorized / By max cyril

The deficit scolds are getting what they wanted: Today the Congressional Budget Office announced that the federal deficit for this fiscal year is the lowest it has been for any year in the Obama presidency – $486 billion, or 2.8 percent of the nation’s gross domestic product. The rest of us, though, aren’t getting what …

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Obama: ‘Challenge of Our Time’ Is Making Economy Work for Everyone