Weekly Recap‏

Hi there,

 

Happy Saturday! Enjoying the weekend? Sorry to hear that, because here’s our weekly recap email just in time to drag you back over the highlights of the workweek that you’ve just escaped.

1) U.S. GDP had its worst quarterly performance since the financial crisis. The Bureau of Economic Analysis reported that the American economy shrank by 0.1% in the fourth quarter of 2012. The White House pointed to looming cuts in spending as the cause, but we’ve shown why Washington has no one to blame but themselves for the poor performance of the economy.

2) We released our latest Briefing Book taking a look at the debt ceiling debate. With such an intense focus on the formerly obscure congressional credit card, the upcoming second round of debt ceiling talks is as confusing as it is critical. Luckily, the briefing book is here to help. Grab your copy here.

3) “No Budget, No Pay” passed in the Senate. The bill’s passage marks a step forward for legislation aiming to give Washington politicians a personal financial stake in fulfilling their budgetary responsibilities in a timely manner. Will it work? We can’t say for sure, but the idea might have potential.

4) January’s jobs numbers leave little to cheer (or cry) about. With a slight increase in the unemployment rate to 7.9% but modest gains in total jobs, the latest employment numbers provided a blank slate for partisan spin while largely maintaining the status quo.

5) We’re all excited for the Super Bowl, but Washington’s been Super-Spending year round. It’s a well established fact (especially by those whose team is losing) that commercials are the best part of any Super Bowl. Washington seems to agree - at least about the price tag. It turns out that Washington spends the equivalent cost ($3.4 million) of a 30-second Super Bowl advertisement every 30 seconds of every day, all year round. Pass the doritos?