Tag Archives: financial crisis

Consumer Confidence Wavers on Higher Tax Bills

The Conference Board index of Consumer Confidence plummeted to 58.6 in January, almost half of its base year of 100 in 1985. Losses occurred in both current economic conditions and views about the future, virtually wiping out all of the gains we had seen in 2012. The expiration of the payroll tax holiday, combined with [...]

Q3 GDP Boosted by Sharp Increase in Defense Outlays

Real GDP increased at a 2% annual rate in the third quarter, buoyed by an unexpected and unsustainable rebound in federal government spending. Defense outlays increased at a double-digit rate, indicating a surge in operations and maintenance:  largely installations support, weapons and service support. This coincides with a transfer payment to Afghanistan, which is not [...]