The Treasury today released the data for the fiscal year 2013 budget deficit, which amounted to $680 billion, or 4.1 percent of GDP, down about $400 billion from last year's deficit, which was 6.8 percent of GDP. The 2.7 percentage point drop came from 1.5 ppts higher tax receipts and 1.2 ppts lower outlays (both relative to GDP). That's the largest one year decline in the budget deficit since 1969. The deficit is down 6 percentage points of GDP since 2009 -- the largest four-year decline since 1950. We're engaged in a level of budget austerity that would make a European policy maker proud.
No matter how brilliant a strategy, if the people involved aren't committed, it will never take off.
We know the shutdown is not about fiscal responsibility. If it was, Republicans would not have run up the deficit under W by trillions of dollars with two unpaid wars, unpaid Medicare prescription plan, and the Bush tax cuts.
Set a goal, make a plan, and achieve success? Not so fast. In today's post-recession economy, your five-year plan to achieve your life goal is all but null and void. Today, the road to success is full of twists, turns and unexpected detours.
Where is there any good news? The answer lies beneath the surface, under the noise and drama that capture major headlines. Unobtrusive and resilient, the human spirit of kindness, caring and generosity is still thriving.
Republicans, the gig is up. We are on to you. The truth: if Republicans say it, then the opposite is true. So stop repeating the lies, or just stop talking. Let us examine some well-known sound-bites that those on the right love to spout and repeat.
Take a nonpartisan approach to collaboration and ideas. When your world is seemingly falling apart, the impulse may be to "duck and cover," but that's the last thing real leaders do.
The labor market and employment situation that we face today has many facets: in addition to recovering from a global financial crisis, the economy is facing a slow recovery, resulting from a long recession.
Facing increased demand for services, nonprofits with limited resources did the best they could to stretch those dollars further, and many funders stepped in with emergency stopgap resources to help.
The chance for our kids to live a better life -- what was that called again? Oh, yeah: The American Dream. That's not just a dream about income, although it's certainly that. It's also a dream about fairness. Most of all, it's a dream of opportunity.
The good news from today's 2012 income and poverty results is that for the first year since the great recession hit, things aren't getting worse. The bad news is that three years into an economic recovery, they're not getting better either.
Education today is a terrible violation of every student's individuality and spirit. They are all cast in a formulaic worker-bee system designed to increase their value to the nation's workforce. Each student is unique; our goal should be helping them.
Former U.S. Secretary of the Interior Ken Salazar once said that the future for solar energy is bright. For Vermaland, my family's Phoenix-based land ...
The real threat to our national security is economic, not military. Nobody knows what a "limited strike" would cost, but General Martin Dempsey, chairman of the Joint Chiefs of Staff, says it will run in the billions. Here's what the money could buy instead.
It's conventional wisdom: Kids get into trouble when they have nothing better to do. Now, research reveals that a summer youth employment program migh...
After 18 years in business, it's a bit strange to think of "starting over," but essentially that's what we did. While the recession was challenging and painful in countless ways, it gave us a profound opportunity to take a hard look at our business to see what was working (yes, some things worked very well) and what wasn't.