News
WSJ | Euro-Zone Business Sees Steepening Decline
Business activity in the euro zone declined at a faster pace in September, according to a survey of purchasing managers, increasing the likelihood that the currency area entered recession in the third quarter.
Bloomberg | Euro-Area Services, Manufacturing Slump to 39-Month Low: Economy
Euro-area services and manufacturing output fell to a 39-month low in September as European leaders struggled to reverse the single-currency bloc’s slide into recession.
Market Watch | September U.S. flash manufacturing stays at 51.5
Markit said its U.S. flash manufacturing purchasing managers index remained at 51.5 in September, as a slight acceleration in new orders and employment were balanced by a reduction in output.
Washington Times | U.S. home sales jump to highest since May 2010
U.S. sales of previously occupied homes jumped in August to the highest level in more than two years, adding momentum to the housing recovery.
National Journal | Smaller COLA on the Horizon for Federal Retirees
Federal retirees again are on track to receive a small annual cost-of-living adjustment boost in 2013, but it will probably be a lot smaller than this year’s increase.
Econ Comments & Analysis
Heritage Foundation | Obama’s End Run on Welfare Reform, Part One: Understanding Workfare
Congress enacted welfare reform legislation in 1996. This reform replaced the Aid to Families with Dependent Children (AFDC) program with a new program entitled Temporary Assistance for Needy Families (TANF). The immediate effects of welfare reform were striking.
AEI | Trade between the US and China
Trade between the US and China (graphic)
Politico | Still time to save small businesses
Our nation has a defining choice to make, and time is short. The Pentagon is bracing for devastating cuts through sequestration. For the sake of national security, jobs and the next generation, we must stop this in its tracks. There is still time to fix it — if we show leadership and make tough choices.
WSJ | Welfare Reform as We Knew It
It's hard to remember now, but this summer Mitt Romney opened a useful debate about "dependency"—concerning President Obama's regulation to rewrite the 1996 welfare reform. Democrats deny any such intent, but as early as this week the House plans to hold a vote to override the new rule.
Washington Times | Obama’s illegal scheme to end welfare work requirements
The Obama administration refuses to give up its backdoor and illegal pursuit to undermine the welfare work requirements. Not only is it claiming authority it doesn’t have and that prior administrations have explicitly stated does not exist, but the nonpartisan Government Accountability Office (GAO) has confirmed that the process by which the administration tried to claim this authority is illegal as well.
Forbes | Moody's May Rate Treasuries Aaa, But Central Planning Scores An F
Federal indebtedness recently surpassed $16 trillion. Moody’s quickly reiterated that America’s debt rating could be cut if Washington fails to navigate the approaching fiscal rapids.
Blogs
Heritage Foundation | Food Stamp Participation Doubled Among Able-Bodied Adults After Obama Suspended Work Requirement
A new report from the Congressional Research Service (CRS) confirms that food stamp participation doubled among able-bodied adults after the Obama Administration suspended the program’s work requirements.
Economist | The opportunity to take responsibility
The citation of "the 47%" isn't that odd for a Republican; it became something of a standard GOP response to Occupy Wall Street's "we are the 99%" slogan. It is startling to hear the figure placed in this context, however, particularly by a major party candidate for president just weeks before an election.
Heritage Foundation | “Atlas Shrugged: Part II” Celebrates Free Market, Smaller Government
With mounting concern over America’s welfare state and growing dependence on government, the producers of “Atlas Shrugged: Part II” hope the timing of their movie brings clarity to the debate. It makes its big-screen debut on Oct. 12, less than a month before Election Day.
Political Calculations | Visualizing Income Inequality Since 1994
How is income inequality changing over time?
Heritage Foundation | The Right Rhetoric: Free Trade Leads to Jobs and Growth
A new article published yesterday in The Wall Street Journal, featuring new research by The Heritage Foundation, tries to slice through the rhetoric on trade policy during a week when the Obama Administration announced a new trade suit against China.
WSJ | Global Trade Slowdown
Data gathered by the CPB Netherlands Bureau for Economic Policy Analysis show that global trade volumes grew an unusually low 2.6% in the second quarter compared with a year earlier; the average pace over the past 20 years has been 6.1%.
