Free Markets, Free People

Daily Archives: April 12, 2013

Economic Statistics for 12 Apr 13

Here are today’s statistics on the state of the economy:

Falling gas prices sent Producer Prices down by -0.6% in March, the though the core PPI rate rose 0.2%. On a year over year basis, the PPI is up 1.1%, and the core PPI is up 1.7%.

Retail sales fell a disappointing -0.4% in March. Sales were also down -0.4% ex-autos, and down -0.1% ex-autos and gas.

The Reuter’s/University of Michigan’s consumer sentiment index fell 6.7 points in the first April reading to 72.3.

Business inventories were steady in February, rising only 0.1%. A 1.2% increase in sales drove down the stock-to-sales ratio to a lean 1.28.

Dale Franks
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Obama’s Orwellian budget claim in pictures

Orwellian, in that his claim is as follows:

President Obama is marketing his new budget by saying it has “more than $2 in spending cuts for every $1 of new revenue.” Is this true?

In a word, no.

In fact, his spending increases and advertised spending cuts cancel each other out—leaving only a massive tax increase.

Here’s a graphical representation of the point:

Yeah, I know … big surprise.

A politician lied again.