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OPINION
February 9, 2013
Re "Smart spending isn't," Opinion, Feb. 5 Mostly I disagreed with former GOP Rep. Ron Paul, but he was right when he consistently pointed out that what the government subsidizes increases in price. And that, whether we like it or not, is "growth. " But Jonah Goldberg was right on the money when he wrote about increased education spending to prop up the economy. Government needs to throw money at infrastructure and at disaster relief, but how many more unemployed college graduates do we need before we realize that education needs to smarten up?
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BUSINESS
April 25, 2014 | Jim Puzzanghera
WASHINGTON -- Consumer confidence rebounded sharply this month to near a post-Great Recession high since 2007 as Americans were more positive about their financial situation and outlook for the economy, according to a leading private barometer released Friday. The monthly consumer sentiment index from the University of Michigan and Thomson Reuters, which is watched closely by economists and investors, rose to 84.1 from 80 the previous month. The jump surprised economists, who had expected a smaller increase to 82.5.
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BUSINESS
April 27, 2012 | By Don Lee
The U.S. economic recovery lost a bit more steam in the first quarter than most experts expected, as business investments and inventories slowed and government cutbacks continued to be a drag on growth. The nation's economic output expanded at a modest 2.2% annual rate in the first three months of the year, down from a 3% increase in the nation's gross domestic product in last year's fourth quarter, the Commerce Department said Friday. Most analysts were expecting a GDP growth rate of 2.6% or a little higher for the first quarter.
OPINION
April 7, 2014 | Jonah Goldberg
For years, Republicans benefited from economic growth. So did pretty much everyone else, of course. But I have something specific in mind. Politically, when the economy is booming - or merely improving at a satisfactory clip - the distinction between being pro-business and pro-market is blurry. The distinction is also fuzzy when the economy is shrinking or imploding. But when the economy is simply limping along - not good, not disastrous - like it is now, the line is easier to see. And GOP politicians typically don't want to admit they see it. Just to clarify, the difference between being pro-business and pro-market is categorical.
BUSINESS
July 27, 2012 | By Don Lee
WASHINGTON -- U.S. economic growth slowed further in the second quarter as consumers cut back on spending and businesses curbed their investments, the government reported Friday. The economy expanded at a sluggish annual rate of 1.5% in the April-June quarter, down from an upwardly revised 2% growth pace in the first quarter and a 4.1% increase in the final quarter of 2011. The latest reading of the nation's gross domestic product -- the total value of goods and services produced -- was slightly better than analysts' expectations of a 1.3% gain.
BUSINESS
April 12, 2012 | By Don Lee
Economists sharply raised their forecast for first-quarter economic growth after news of an unexpectedly big drop in the nation's trade deficit in February. The Commerce Department reported Thursday the trade deficit narrowed in February to $46 billion from $52.5 billion in January. Most of the decline was due to a sharper-than-expected 2.7% falloff in imports, much of that from China. U.S. exports in February was up a tiny 0.1%. Analysts said the trade gap was likely to turn up in March as Chinese production and shipments resumed after the Lunar New Year holiday in February.
BUSINESS
February 29, 2012 | By Don Lee
Despite the pickup in the U.S. economy since last summer, growth is likely to be "modest" during the coming year, the Federal Reserve said Wednesday, citing factors including tight credit for businesses and consumers, the long-depressed housing market and budget-strapped governments. Fed Chairman Ben S. Bernanke, in presenting the central bank's semiannual report on monetary policy and the economy to Congress, did not view the recent jump in oil prices as a major impediment, though he noted that higher energy costs could pinch consumer spending.
BUSINESS
April 26, 2013 | By Don Lee
WASHINGTON -- The pace of economic growth picked up in the first quarter, but not nearly as fast as many analysts had forecast -- an unwelcome sign given other recent indicators that the recovery is losing some steam and further government spending cuts loom. The nation's economic output expanded at an annual rate of 2.5% in the quarter, the Commerce Department said Friday. That was up from 0.4% growth in the final three months of last year as defense spending fell sharply and companies stockpiled less inventory.
BUSINESS
September 13, 2012 | By Jim Puzzanghera and Don Lee
WASHINGTON -- The Federal Reserve on Thursday slightly lowered its forecast for economic growth this year, reflecting the still-struggling recovery and helping to justify the decision to launch another round of stimulus. The central bank's new forecast, released before Fed Chairman Ben S. Bernanke's quarterly news conference, doesn't make drastic changes from its June projections.  But it still lowered growth in the nation's gross domestic product, calling for a weak 1.7% to 2% increase this year.
BUSINESS
November 28, 2012 | By Ricardo Lopez
The threat of the looming “fiscal cliff” is expected to temper economic growth in the U.S., according to a report released by Chapman University economists Wednesday. In its quarterly forecast, Chapman economists set out a moderate view of the full impact of the fiscal cliff - the year-end tax increases and spending cuts that are set to take place if Congress doesn't act. In their scenario, the forecast predicted planned payroll tax hikes will proceed as planned, capital gains and estate taxes will rise, but cutbacks in government spending won't be as drastic.
BUSINESS
March 27, 2014 | By Jim Puzzanghera
WASHINGTON - The economy expanded at a slightly faster pace at the end of last year than previously estimated, but the rate remained tepid, the Commerce Department said Thursday. The nation's total economic output, or gross domestic product, increased at a 2.6% annual rate in the fourth quarter of 2013. That was up from an earlier estimate of 2.4%, with the improvement coming from higher consumer spending. Still, the upwardly revised growth rate - the government's final revision of the data - was much lower than the initial estimate of 3.2% and indicated that the recovery's momentum slowed as the year ended.
BUSINESS
March 10, 2014 | By Jim Puzzanghera
Bad weather is largely responsible for some recent weak economic data and should not lead the Federal Reserve to stop reducing a key stimulus program, a top central bank official said Monday. Instead, with economic growth still forecast to pick up this year, the Fed might need to quicken the pullback of its monthly bond-buying program, said Charles Plosser, president of the Federal Reserve Bank of Philadelphia. "In recent weeks, there has been a blizzard of economic reports, which have come in weaker than expected," Plosser said in a speech in Paris.
NEWS
March 10, 2014 | By Michael A. Memoli
WASHINGTON - With his standing among the conservative base still hobbled by his support for immigration reform, Florida Sen. Marco Rubio has settled on a new course, staking his claim as a leader of the Republican Party's wonk wing. The latest example came in a speech Monday on how to boost America's economic growth, in which Rubio argued that Washington needs new thinking to meet the challenges of a new economic age. "As much as we innovate now, we could be doing even more," Rubio said at a forum hosted by the Jack Kemp Foundation at Google's Washington headquarters.
NEWS
February 17, 2014 | By David Lauter
WASHINGTON - Five years after its passage, White House officials and their Republican critics are still fighting over the merits of President Obama's economic stimulus law. Later this week, Obama will mark the fifth anniversary of signing the American Recovery and Reinvestment Act. Monday, his Council of Economic Advisers issued a 70-page report lauding the law's impact. Republicans, meanwhile, seized the anniversary to denounce the law for increasing the federal debt while failing to cure the economy's troubles.
BUSINESS
February 14, 2014 | By Jim Puzzanghera
The severe weather that has hit much of the country this winter has cost the economy nearly $50 billion in lost productivity and 76,000 jobs, according to a new survey. The debilitating effects of Old Man Winter hit factory production, which last month fell the most since the Great Recession ended, the Federal Reserve said Friday. Manufacturing output dropped 0.8% in January compared with the previous month, the first decline since July and the biggest falloff since May 2009.
BUSINESS
February 4, 2014 | By Don Lee
WASHINGTON -- The U.S. economy should grow at a solid rate over the next few years, but the labor market will continue to recover only slowly, according to new projections by the Congressional Budget Office. In its latest budget and economic outlook Tuesday, the CBO forecasts that economic growth will rise to 3.1% this year from 1.9% last year, boosted by gains in housing construction and business investment. And growth in economic output is projected to speed up to 3.4% in both 2015 and 2016.
CALIFORNIA | LOCAL
June 27, 1996
Re "Give Growth a Chance," by Ted Van Dyk, Commentary, June 18: It appears that Van Dyk is longing for the policies and principles of the Carter administration (1976-1980). A careful review of the results of that administration should change Van Dyk's mind. ROYCE DONKLE Long Beach
BUSINESS
July 13, 2012 | By David Pierson, Los Angeles Times
BEIJING — China said its economy grew 7.6% in the second quarter compared with a year earlier. It was the weakest pace of expansion in three years but in line with analysts' expectations. Declining investment in real estate and infrastructure as well as shrinking exports to Europe and the U.S. have contributed to the slowdown in the world's second-largest economy. "It's not easy for China to achieve a 7.6% growth rate," Sheng Laiyun, a spokesman for China's National Bureau of Statistics, said at a news conference in Beijing on Friday.
BUSINESS
February 4, 2014 | By Don Lee
WASHINGTON - The U.S. economy should grow at a solid rate over the next few years, but the labor market will continue to recover only slowly, according to new projections by the Congressional Budget Office. In its latest budget and economic outlook, the CBO on Tuesday forecast that economic growth will rise to 3.1% this year, boosted by gains in housing construction and business investment. And growth in economic output is projected to speed up to 3.4% in each of the next two years.
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