General Economics

News                                                                                                                             
Bloomberg | Consumer Comfort in U.S. Rises to Five-Year High on Economy View
Consumer confidence climbed last week to the highest level in more than five years as Americans became less pessimistic about the economy.
FOX Business | U.S. Manufacturing Sector Heats Up
The pace of growth in the U.S. manufacturing sector accelerated in July to the highest level in two years as new orders surged, supporting the view the economy will pick up in the second half of the year, an industry report showed on Thursday.
Bloomberg | Construction Spending in U.S. Unexpectedly Declined in June
Construction spending in the U.S. unexpectedly dropped in June for the first time in three months, easing off an almost four-year high amid government cutbacks.
Market Watch | 30-yr fixed-rate mortgage climbs: Freddie Mac
The rate on the 30-year fixed-rate mortgage averaged 4.39% in the week ending Aug. 1, up from 4.31% last week, Freddie Mac said Thursday.
CNBC | US economy should be growing at 3-4%: Former Fed governor
The U.S. economy has the ability to grow at a rate of 3-4 percent if policy makers removed the constraints obstructing its potential, former Federal governor Robert Heller told CNBC on Thursday.

Econ Comments & Analysis                                                                                            
Bloomberg | All This Inequality Talk Does Nothing for the Poor
Like any immigrant, I’m optimistic about the U.S. The crash will recede, confidence will come back and stronger growth will resume. The zeal of ordinary Americans to work hard and prosper will prevail over the weary incompetence of the political class. If I wanted to be pessimistic, though, I know what I’d be dwelling on right now: the new preoccupation with inequality.
WSJ | Data of Prosperity Past
The good news is that the Commerce Department's second-quarter GDP report shows that the U.S. is richer and the economy larger than previously believed. The bad news is that this has nothing to do with anything that has happened lately, and certainly not in the last nine months. The current not-so-great economic recovery trudges on.
Washington Times | The economics of no growth
On Sunday, The New York Times released a picture of President Obama giving an interview to its reporters in Galesburg, Ill. Truth be told, he looked surprisingly gaunt. Not to put too sharp a point on it, but he looked desperate.
WSJ | How Obama Neglects the Poor
Amid falling approval ratings and an economy that continues to sputter, President Obama launched an economic-policy tour in recent days with speeches in Illinois, Missouri, Florida and Tennessee. What he said was familiar—a list of the president's favorite programs and grievances against Republicans. The White House let it be known that the speeches were intended to position Mr. Obama as a champion of the middle class. But not, unfortunately, a champion of those most in need.
Mercatus | On the Human Costs of the US Regulatory System: Should Congress Pressure Agencies to Make Rules Faster?
Chairman Blumenthal, Ranking Member Hatch, and members of the committee, thank you for inviting me to testify today. I am an economist and senior research fellow at the Mercatus Center at George Mason University, a 501(c)(3) research, educational, and outreach organization in Arlington, Virginia. My primary research focuses on the regulatory process and how it could be improved, so I am delighted to testify on today’s topic.
AEI | The US is headed for another recession in 2014
Four years after the end of the Great Recession, the United States economy is still struggling to get back on its feet. The Bureau of Economic Analysis has released its new real gross domestic product growth estimates. In the second quarter of 2013, the US economy grew at 1.7 per cent and its first quarter growth was revised down to 1.1 per cent from the 1.8 per cent June estimates.

Blogs                                                                                                                             
Heritage Foundation | Want to Rebuild Opportunity, Mr. President? Start with Welfare Reform
In the kick-off to his most recent speaking tour, President Obama said the United States must “rebuild ladders of opportunity for all those Americans who haven’t quite made it yet.” But his economic policies have actually made it harder for many Americans to escape poverty and a welfare system that does little to promote self-sufficiency.
Heritage Foundation | Economic Growth Remains Too Slow Because of Policy Uncertainty
Today’s report on gross domestic product (GDP) shows that not much changed in the economy during the second quarter. The Bureau of Economic Analysis’s initial estimate shows that economic growth was just 1.7 percent from April 1 through June 30—well below the rate the economy should be growing this far into a recovery from a recession.

Health Care

News                                                                                                                             
Politico | Liberal groups go on offense on Obamacare
Obamacare supporters are launching a new war room operation to stick up for the law, mobilizing liberal groups to talk up its benefits and pound Republicans for trying to cut off its funding.

Econ Comments & Analysis                                                                                            
CRS | Health Insurance Premium Credits in the Patient Protection and Affordable Care Act (ACA)
New federal tax credits were authorized in the Patient Protection and Affordable Care Act (ACA, P.L. 111-148, as amended), to help certain individuals pay for health insurance coverage, beginning in 2014. The tax credits will go toward covering premiums for health insurance offered through exchanges—marketplaces offering private health plans. ACA also establishes subsidies to reduce cost-sharing expenses.

Monetary

News                                                                                                                             
CNN Money | Central banks in Europe keep rates on hold
The European Central Bank and the Bank of England left their benchmark interest rates unchanged Thursday, while both move towards issuing more Fed-style guidance on future policy plans.
WSJ | Tepid Growth Restrains Fed
The U.S. economy registered subpar growth and low inflation in the first half of the year, factors that led the Federal Reserve Wednesday to keep its easy-money policies in place.

Econ Comments & Analysis                                                                                            
Fortune | Federal Reserve punts, for now
What's most significant about the Federal Reserve's latest statement is what it did not address: tapering bond-buying and future policy guidance.

Blogs                                                                                                                             
WSJ | Economists React: September Tapering ‘Still a Good Bet’
The FOMC statement is unchanged in terms of policy compared to the June 19 statement, but it addresses, briefly, two recent developments which have exercised investors and commentators.

Taxes

News                                                                                                                             
Politico | Tax reform bill 2013: Dave Camp planning October tax reform markup
House Ways and Means Committee Chairman Dave Camp plans to move forward on a tax reform bill before a November showdown over raising the debt limit, according to several committee aides.

Econ Comments & Analysis                                                                                            
Politico | Tax reform would fuel U.S. economy
Momentum is building for tax reform — and with good reason. America’s broken tax system was last reformed in 1986, and the global marketplace is moving much faster than a once-a-generation pace. The current rules were fine when U.S. exports dominated a global economy crushed by two world wars, but they are ill-suited for a digital age of intense competition.

Employment

News                                                                                                                             
CNBC | Planned layoffs drop in July; defense, health care suffer
The number of planned layoffs at U.S. firms fell modestly in July, though the healthcare and defense sectors saw the biggest job cuts, a report on Thursday showed.

Econ Comments & Analysis                                                                                            
Bloomberg | Jobless Claims in U.S. Fall to Lowest Level in Five Years
Claims for jobless benefits unexpectedly dropped to the lowest level in more than five years, extending swings typical for the month of July.
CATO | Calling for a Real Stimulus
The U.S. economic recovery remains anemic, so President Barack Obama wants Washington to spend more money. Of course, if the economy was booming, he would want the federal government to spend even more money.

Budget

News                                                                                                                             
Politico | House passes student loan rate fix
A House vote Wednesday puts a decisive end to months of congressional wrangling over federal student loan interest rates.
CNN Money | Debt ceiling awaits Congress after summer break
On Wednesday, the Treasury Department said again that it can continue to pay the country's bills in full without breaching the legal limit on borrowing until sometime after Labor Day.
Bloomberg | Worst July Since 2003 Seen Paving Way for a Rebound: Muni Credit
The municipal market’s biggest July decline in a decade is leading investors such as Vanguard Group Inc. to bet history is on their side as they buy with yields close to a two-year high.

Blogs                                                                                                                             
Heritage Foundation | Why Is Washington Talking About a Government Shutdown?
It’s not even August, and Members of Congress are starting to buzz about the upcoming budget and debt ceiling fight—which likely won’t happen until later this fall. But the posturing has begun, and the media are happy to oblige.