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June 29, 2010

Graph of the Day for June 29, 2010

By Randall Hoven

"We are now, I fear, in the early stages of a third depression...  And this third depression will be primarily a failure of policy. Around the world - most recently at last weekend's deeply discouraging G-20 meeting - governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending."  Paul Krugman, The New York Times.


Source:  The Heritage Foundation.


Hoven's Index for June 29, 2010


Change in federal government spending since 2007 (4Q07 to 1Q10):  +24%

Change in federal revenues since 2007:  -14%

Source:  St. Louis Fed/FRED, series FGEXPND and FGRECPT.


Graph of the Day Archive.

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