Econintersect: The White House has released the 2013 Economic Report of the President. The report numbers 456 pages but has a saving grace: Just as a small child can “read” the National Geographic,” attention-span-challenged adults can look at the “pictures” in the economic report. We have selected 39 interesting graphs to share here.
Click on graph for larger image.
From the report, discussing the graph above:
A comparison of recent economic performance in the United States with that of countries undertaking more abrupt fiscal consolidation underscores the importance of a balanced and responsible approach to return over time to a sustainable Federal budget. Figure 1-4 shows that while GDP in the United States has expanded for 14 consecutive quarters and surpassed its pre-recession peak, the recovery has faltered in places where austerity has been implemented more rapidly. President Obama has put it succinctly:
“We cannot just cut our way to prosperity.”
The following graph shows the redistribution of tax burden over the past 50 years. The taxes paid by the middle 20% have increased approximately 35% ([19%-14%]/14%) while the taxes paid by the top 0.1% have declined by 40% ([50%-30%]/50%). The decline for the top 1% is about 28%.
Wealth and Income
Government Spending and Recessions
Exports and Trade
Federal Deficits and Debt
Economic Report of the President (March 2013)