This week it was announced that Ireland is receiving a bailout from the European Union and the International Monetary Fund for $113 billion to combat the country’s ongoing financial crisis.
Today, the Bureau of Labor Statistics released monthly state and regional unemployment numbers for October. The report shows 19 states and the District of Columbia recorded an unemployment rate decrease, 14 states saw an unemployment rate increase, and 17 states experienced no change.
We thought it might be helpful to re-release our “Fiscal Cheat Sheets,” which outline key economic and fiscal repercussions of government overspending. Please see below for an excerpt from “Unsustainable Spending.”
This morning, the Bureau of Economic Analysis announced the revised estimate for GDP growth in the second quarter of 2010. Originally, it was estimated that the economy grew by 2.4 percent. That has since been revised down to 1.6 percent. In response to the news, the Associated Press lamented, “The economy barely has a pulse.”
In a must-read story, The Washington Times this morning uses the analogy of a family budget to put in perspective the nation’s budget crisis.
Today, the Commerce Department released its advance estimate of second quarter GDP growth. The report showed that the United States economy slowed to a 2.4% rate of growth. This is a significant decline from the revised 3.7% rate of the previous three months.