Chart of the Day
Posted at 10:15 a.m. on Jan. 31
– Alan Krueger, the chairman of President Obama’s Council of Economic Advisers, provides this chart showing that “During the four quarters of 2012… real GDP growth has been led by an expansion in the private sector.”
Neil Irwin: “the private sector has been expanding. But the public sector has been simultaneously pulling back. That includes state and local governments slashing spending to balance their budgets, the expiration of federal stimulus, and starting in 2011 deficit-reduction policies arrived at as part of a deal to raise the federal debt ceiling.”
