The government increased payments to individuals without reducing spending elsewhere in the budget.

Before 2000, the tax burden shifted from the lowest 80% of earners to the highest 20%; since 2000, the burden has shrunk for all groups, but more so for the highest earners.

The rise in the national debt... is entirely a consequence of the federal government’s increase of expenditures without an offsetting increase in revenues.

"Although the current recession may.. be the longest in the postwar period, it is by no means certain that it will be the deepest, but it's increasingly looking that way."

Data revisions suggest that job growth has been much stronger than initially reported the past two years.

As expected, falling crude oil prices lead to falling gasoline prices and lower inflation.

Initial claims may now be useful for forecasting employment growth during periods of increasing economic activity.>

Most forecasters think the surprise first-quarter contraction is not a harbinger of another recession, but history suggests caution.

Economists focus on certain indicators that might signal when one business expansion ends and the next one begins.

The economic performance during the current recession is sharply different from the 1929-33 episode in most key respects, but not in all...