Monday, November 17, 2003
From the Treasury Department website, the October report is out and I can update my post from October 22. I underestimated the Adminisration. Expenditures were $205 billion. Receipts were 135 billion. The deficit starts out at $70 billion (69.545 billion to be exact). I don't know what to make of the increase in $10 billion in receipts from last October. If the trend continues through November and December then it's good news for the economy (but probably not the deficit given the fiscal irresponsibility of this Administration).
Fiscal year/ Average Monthly Expenditures/ September/ Next Month
2001/ 155.3/ 123.1/ 164.8
2002/ 167.6/ 150.3/ 178.6
2003/ 179.7/ 165.3/ 205.3 (This $40 billion difference in expenditures one month to the next is prima facia evidence of financial management of results.)
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Fiscal year/ Average Monthly Expenditures/ September/ Next Month
2001/ 155.3/ 123.1/ 164.8
2002/ 167.6/ 150.3/ 178.6
2003/ 179.7/ 165.3/ 205.3 (This $40 billion difference in expenditures one month to the next is prima facia evidence of financial management of results.)
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Wednesday, November 05, 2003
How can productivity be rising so dramatically? I might be mssing something, but it seems to me that if you move jobs overseas paying dramatically less to produce goods and services AND consumption does not change, then productivity will increase significantly. Since it seems to me that this trend of exporting jobs will continue, I assume that productivity will continue to increase until a dramatic revaluation of the dollar occurs. This is bad news for the job market regardless of the pace of economic growth.
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