Make Me Smart

Less is not always more in economic data

Jun 8, 2024

Discussing Trump's potential power over federal spending, impacts of cutting household survey size on economic data accuracy, rise of Uncrustables sandwiches, Bazooka gum investments, and the impending price hike for Forever Stamps. Plus, exploring the idea of a Texas stock exchange and the debate between optimism and pessimism in a glass half full or half empty poll.

21:23

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Quick takeaways

Reduction in household survey size raises concerns about accurate labor force measurement post-pandemic.

Trump's plan to limit Congress' spending powers challenges traditional separation of powers in the U.S. Constitution.

Deep dives

Budget Constraints Leading to Reduced Sample Size in Jobs Report Surveys

The Commissioner of the Bureau of Labor Statistics announced a reduction in the sample size of the Household Survey and Monthly Jobs Report due to budget constraints. This reduction raises concerns about accurately measuring the labor force of 168 million people, especially given low survey response rates post-pandemic.

Intro

2min

Economic Data Sampling and Presidential Power

7min

Analysis of a Political Figure's Plan and Dell Technologies Summer Sale Event

2min

Stock Exchange in Dallas, Rise of Uncrustables, Nostalgic Candies, Postage Stamp Increase

9min

Analyzing a Glass Half Full or Half Empty Poll

2min

It’s Friday, folks! Today we’re talking about some news coming from former President Donald Trump, who has vowed to take away key spending powers from Congress if reelected. We’ll get into what that would mean in practice. Plus, we’ll talk through the latest from the Bureau of Labor Statistics, which just announced it’ll be decreasing the number of households surveyed for important reports like the monthly jobs report. It’s a move that will make decoding what’s going on in our economy more a little more challenging. Plus, we’ll get into Bazooka gum, the rise of Uncrustables and Forever Stamps getting more expensive during a round of Half Full/Half Empty.

Here’s everything we talked about today: