“Gross domestic product” on The Daily Caller

Europe’s economy expanded more than economists forecast in the second quarter as the fastest growth in Germany in two decades powered the region’s recovery. (more)

A subtle but significant shift appears to be occurring within the Federal Reserve over the course of monetary policy as the economic recovery is weakening. (more)

U.S. stocks finished lower on Thursday, with disappointing corporate results and a Fed official’s warning on deflation sapping some of the optimism drawn from earnings season and the market’s strong gains in July. (more)

Let us review the recent record on federal spending stimulus and its relationship to GDP growth, about which data are freely available from the Bureau of Economic Analysis.  In February 2008, $165 billion—for the most part, dollar transfers to the states and increased federal outlays—was spent as economic “stimulus.”  In 2009, the infamous $862 billion Obama stimulus package was enacted, comprising spending increases of $574 billion and various tax reductions of $288 billion.  Over the last few months, with the looming elections and monstrous polling numbers concentrating the minds of White House and Congressional leaders, proposals for $100-200 billion in additional “stimulus” spending have been prominent. (more)

Wisconsin Rep. Paul Ryan is feeling a bit lonely. (more)

This week the President’s Council of Economic Advisors released a report claiming that the 2009 Stimulus Act had created or “saved” 3 million jobs. They further stated that the Act would be responsible for 3.5 million jobs by the end of the year. Coincidentally, this is the exact number of jobs predicted by the Council when the bill was passed. (more)

The trade deficit peaked at 6% of gross domestic product in 2006. It fell during the recent recession to about 3% of GDP. While this decline has quieted those who support protectionism, and allowed the Obama administration to declare that there are no countries manipulating currency values, protectionism is never far from the political front burner. (more)

When it comes to government spending, “stimulus” apparently means never having to say “enough.” (more)

We all know, liberals and conservatives, that the growth of the U.S. national debt is, to use a favorite word of our time, unsustainable. (more)

I tend to look for a bright side to any issue, but reading through the just-released Long-Term Budget Outlook from the Congressional Budget Office (CBO), it is hard to find much to be optimistic about. First, the report maps out a bleak future where, over the next few years, the Obama administration raises taxes by one third – from 15 percent of gross domestic product (GDP) to 20 percent of GDP – while reducing federal spending by just under ten percent — from roughly 24 percent of GDP to 22 percent of GDP (the fall-off from the stimulus). A large cut to personal income with a simultaneous drop in government spending seems destined to produce a negative impact on an already weak economy. (more)

Total U.S. debt will rise from $13.6 trillion this year to the astounding level of $19.6 trillion by 2015, which is four years earlier than previously estimated, according to a U.S. Treasury Department report released last week. The Treasury expects that figure to represent 102% of 2015 gross domestic product. Most astonishingly, the report projects that publicly traded debt, which excludes intra-governmental obligations, will rise to $14 trillion by 2015, up from last year’s figure of “just” $7.5 trillion. (more)

Organizers of the 2010 World Cup, which started Friday, are making the same error that backers of big sporting events always do — overpromising and underdelivering. (more)

As the world focuses on Greece and the rest of the so-called PIIGs–Portugal, Italy and Ireland–in their fight to reverse years of irresponsible fiscal policies, another group of nations make them look positively well-managed. Forbes screened IMF data for countries that have low and declining per-capita GDP, high trade deficits and high inflation, all indicators of bad economic management regardless of the country's inherent wealth. (more)

June 4 (Bloomberg) — President Barack Obama is poised to increase the U.S. debt to a level that exceeds the value of the nation’s annual economic output, a step toward what Bill Gross called a “debt super cycle.” (more)

Greece suffers from unsustainable public-sector debt, low productivity, and an overall uncompetitive economy. In 2009, the government’s fiscal deficit was 13.6 percent of Greece’s gross domestic product (GDP) and its outstanding debt stood at 115 percent of its GDP. Lenders were losing confidence in Greece’s ability to repay them. Before the loan agreement with the International Monetary Fund (IMF) and the EU announced on May 2, they were demanding an almost 10 percentage points premium over lending rates to Germany, which worsened Greece’s deficit. Even with the large corrective measures Greece has agreed to undertake, its debt is projected to increase to 149 percent of GDP in 2012 before beginning to shrink in 2014. (more)

Memorial Day is an occasion to remember all of the brave men and women who gave their lives for our country. Indeed, America has a proud history of defending freedom the world over. Yet this weekend, Americans should also consider the future. Will we have the resources to fight the next time our country is called to duty? (more)

Americans should look on the economic crisis unfolding in Greece and the European Union with horror. As Greece slips further into chaos as a result of its profligate spending, we need to confront the fact that we share some of that nation’s underlying problems. (more)

In his State of the Union speech President Obama claimed that, “Jobs must be our number one focus in 2010.” No surprise, since for months the Bureau of Labor Statistics has shown the unemployment rate to be hovering dangerously close to 10 percent. Revised BLS numbers to show additional jobs losses in December and January with 363 out of 372 metropolitan areas in the U.S. reporting that they lost jobs in January. (more)

The U.S. economy grew briskly in the first quarter, driven by businesses stocking up on goods for a strengthening consumer demand stoked by the lowest core inflation number in 51 years. (more)

One question is timing. With a 2010 deficit topping $1 trillion, advisers like Timothy F. Geithner, below, the Treasury secretary, and Peter R. Orzsag, the budget director, favor bold steps in 2011 to demonstrate fiscal discipline. (more)