Economics

Frugal Living and The Tightwad Gazette

Frugal Living and The Tightwad Gazette

Over the years our average income has been less than $30,000 (including my husband’s Navy salary and all allowances, plus my spotty freelance income). In less than seven years we saved $49,000, made significant investment purchases (vehicles, appliances, furniture) of $38,000, and were completely debt free! That is an annual savings/investment rate of over $12,500 […]

Quantitative Easing (QE) Explained

Quantitative Easing (QE) Explained

. . . . . . . . .

Bailouts Explained – Clarke and Dawe: European Debt Crisis

Bailouts Explained – Clarke and Dawe: European Debt Crisis

Also see Federal Debt; Budget Deficit / Budget Surplus; Date Shifting / Fiscal Transparency / Fiscal Illusion; Public Debt / Debt Ceiling; “We Don’t Want Your Clunkers“. Related PostsPermanent Appropriations (CongressionalGlossary.com) President’s Budget (CongressionalGlossary.com) Deeming Resolution (CongressionalGlossary.com) Federal Debt (CongressionalGlossary.com) The Constitution of the United States: Amendment 16 (Sixteenth Amendment – Income Tax)

Unemployment Rate / Employment-Population Ratio  (CongressionalGlossary.com)

Unemployment Rate / Employment-Population Ratio (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Unemployment Rate / Employment-Population Ratio As defined by the Bureau of Labor Statistics (BLS), the number of people who do not have jobs but have actively looked for work in the prior 4 weeks and are currently available for work, expressed as a percentage of […]

Budget Deficit / Budget Surplus (CongressionalGlossary.com)

Budget Deficit / Budget Surplus (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Budget Deficit / Budget Surplus The relationship between spending and revenues is reflected in the surplus or deficit figure. A surplus is an excess of revenues over outlays, while a deficit is an excess of outlays over revenues. Congress controls the enactment of legislation providing […]

Deflation / Inflation / Real Dollar (CongressionalGlossary.com)

Deflation / Inflation / Real Dollar (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Deflation / Inflation / Real Dollar Whip Inflation Now (WIN) Deflation: A sustained decrease in the general price level. Deflator: An index used to adjust a current dollar amount to its real dollar counterpart, that is, to remove the effects of inflation. Inflation: A rise […]

“Why American Food Used to Be So Bad and Other Lessons From Tyler Cowen”

“Why American Food Used to Be So Bad and Other Lessons From Tyler Cowen”

For the past four years, I’ve been ordering the most unappatizing sounding item on the menu when I eat at nice restaurants. This counterintuitive advice from Tyler Cowen’s 2007 book Discover Your Inner Economist has worked surprisingly well. Cowen’s newest book, An Economist Gets Lunch, is a combination of practical eating advice like this, and […]

Governmental Receipts (CongressionalGlossary.com)

Governmental Receipts (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Governmental Receipts photo credit: ben_osteen Collections from the public based on the government’s exercise of its sovereign powers, including individual and corporate income taxes and social insurance taxes, excise taxes, duties, court fines, compulsory licenses, and deposits of earnings by the Federal Reserve System. Gifts […]

Refunds (CongressionalGlossary.com)

Refunds (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Refunds photo credit: Ben Husmann Payments returned to the government that were made in error. They are credited to the appropriation originally charged. Either (1) the return of money that the government improperly collected or collected in excess of the amount owed (for example, refund […]

Financial Statements (CongressionalGlossary.com)

Financial Statements (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Financial Statements photo credit: Metro Centric A document that describes an entity’s financial activity and status for a specified period. Under federal law and applicable accounting standards, the financial statements for a federal agency usually include a balance sheet, statement of net cost, statement of […]