Archive for May 8th, 2012

May 8, 2012

Daily Scoop Xtra: Ryan Budget May Cut Economic Data

Starting in the early 1990s, the U.S. Census Bureau asked Congress for extra funding each year so it could better analyze the services sector, which was quickly replacing industrial activity as the biggest driver of the U.S. economy. In 2003 the bureau requested more funding to survey financial, real estate, and other companies on a quarterly basis, rather than wait to take their pulse with its Economic Census, which gathers data on business every five years.

Every year, Census asked for the extra funds; every year, Congress denied them the money, leaving the Census Bureau largely blind to the health of a sector that made up more than half the total economy.

Finally, in early 2009, after the real estate-fueled financial crisis, Congress gave Census what it had been asking for—an extra $8.1 million. In the view of many, it was too late.

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May 8, 2012

Poll Update: Obama leads Romney, independents help

(Reuters) – President Barack Obama extended his lead over Republican Mitt Romney to seven percentage points because of increased support from independent voters and some optimism over the economy, a Reuters/Ipsos poll showed on Tuesday.

Obama was backed by 49 percent of registered voters in a telephone poll conducted from May 3-7, compared to 42 percent who supported his likely rival in November’s presidential election. In April, the poll showed Obama leading Romney 47 percent to 43 percent.

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May 8, 2012

The Daily Scoop: Government’s 1st Monthly Budget Surplus in 3 Years

As the budget battles in Washington begin anew, it seems the importance of tax revenue for repairing the national debt problems has been quite clearly illustrated. It’s also worth postulating, with the regaining of virtually all the jobs lost under the Obama Administration does it not stand to reason that putting people back to work where they contribute to the tax base is the best way to reduce the debt spending? 

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