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Representative David Schweikert - Vice Chairman

Research

Unemployment rate jumps to 9.8%; economy adds 39,000 jobs

November Employment and Unemployment: The Bureau of Labor Statistics (BLS) released a report today on employment and unemployment for November (pdf summary). Highlights of the report:

Weekly Economic Update: November 22-26, 2010

Overview: GDP growth was revised upwards to 2.5% for the 3rd quarter. Existing home sales fell 2.2% in October as new home sales fell 8.1%. Personal income rose 0.5% and personal spending rose 0.4% in October. Durable orders fell 3.3% in October. Initial jobless claims fell by 34,000 to a level...

3rd quarter GDP growth revised upwards to 2.5%

According to the second estimate, annualized GDP growth in the 3rd quarter was 2.5%. This marks an upward revision from the advance estimate of 2.0%. Growth in the 2nd quarter was 1.7%, and was 3.7% in the 1st quarter of 2010. The BEA will release its third estimate for 3rd quarter GDP growth o...

Weekly Economic Update: Nov. 15-19, 2010

Overview: Retail sales rose 1.2% in October. The topline PPI rose 0.4% in October while the core PPI fell 0.6%. The topline CPI rose 0.2% in October; the core CPI was unchanged. Industrial production was flat in October. Housing starts fell 11.7% in October as building permits edged up 0.5%. B...

Unresolved Systemic Threat

The Rationale for Low Capital Gains Tax Rates

Capital gains tax rates have historically been lower than ordinary income tax rates for a number of reasons, including the positive economic effects of investment and the impact of inflation on capital gains. Additionally, strong behavioral responses and the potential to avoid capital gains taxat...

The Rationale for Low Capital Gains Tax Rates

Fiscal Commission vs. CBO Federal Spending as a % of GDP

Weekly Economic Update: November 8-12, 2010

Overview: The trade balance narrowed 5.3% to $44.0 billion in September. The Treasury recorded a deficit of $140.4 billion in October. Initial jobless claims fell by 24,000 to a level of 435,000 for the week ended 11/6.

Business Write-Off Extensions: Not as Beneficial as Lower Rates

Initially proposed by President Obama as stimulus spending targeted at small business investment, the Small Business Jobs and Credit Act of 2010 contains $30 billion in funding to encourage small business lending and $12 billion of small business tax breaks (including a 50% bonus depreciation extens...