Tag: Alan Krueger

GDP Contracts

GDP contracts 0.1percent...first decline in more than three years...the White House wants a 'balanced' approach

BY:  — 

Krueger (AP)

The U.S. economy contracted in the fourth quarter of 2012 with gross domestic product falling 0.1 percent–the first decline in more than three years. Analysts had expected an increase of 1 percent.

The Coming Middle Class Tax Hike

Neither Republicans nor Democrats eager to argue for extending payroll tax rate

BY:  — 

Alan Krueger / AP

Employee payroll taxes are scheduled to rise nearly 50 percent in 2013 absent action by lawmakers, and there is a growing sense that both parties might be willing to let that happen.