Over at Cato.org, Alan Reynolds shows how Paul Krugman’s turned out to be a sloppy, careless columnist. In assessing the tax policies of the 1970s and 80s, Krugman cherry picks his figures, and even gets the starting date of a recession wrong – by about a year. Krugman’s blog makes mistakes like this ever more…

….Most economists believe a dip back into recession — as well as an equally debilitating bout of deflation, or broadly falling prices — will be avoided. But many have nonetheless warned that the prospects are rising, and say the more probable scenario isn’t much more appealing: a protracted economic malaise with imperceptible growth and stubbornly…

John Merline asks, “Where Did All Those ‘Green Shoots’ Go?” In an Aug. 2 op-ed headlined “Welcome to the Recovery,” Treasury Secretary Timothy Geithner said that “we are on a path back to growth.” Eight days later, the Federal Reserve issued a report saying the “pace of recovery in output and employment has slowed in…

Wisconsin’s principal cities of Milwaukee and Madison saw personal income declines from ’08 to ’09 of 2.6 and 2.8 percent, respectively. There’s no better justification for public spending cuts and tax reduction in 2010 and 2011. See, U.S. Incomes Tumbled in 2009.

Over at the Wisconsin Center for Investigative Journalism, Sara Jerving writes about nearby Rock County’s economy following the departure of GM from Janesville, Wisconsin. In Rock County Feeling Increasing Ripples from GM Departure,” Jerving describes the impact on the area: More than a year after GM closed its plant in Janesville after three waves of…

The government’s latest snapshot of the job market was bleak, a sign the economic recovery is running out of steam with 14.6 million Americans still searching for work. Job growth proved anemic in July as governments cut jobs and private-sector employers barely expanded. The economy shed 131,000 jobs, as 143,000 temporary Census workers fell off…

The slowdown in economic growth recorded in the second quarter was likely even less robust than initially reported on Friday, according to new inventory data released today. Inventories have had a major impact on growth over the past few quarters, and the change was estimated to have added more than one percentage point to the…

Yesterday’s report also contained the government’s annual historic GDP revisions, and growth was revised downward for the last three years. This means the U.S. is $130 billion, or 1%, poorer than previously thought and that growth will have to be that much faster to catch up…. The message of 2.4% second quarter growth is closer…

Anemic growth will prove too weak to reduce unemployment from nearly double-digit levels. See, AP: Recovery Slows in Second Quarter to Weakest in Nearly a Year as Consumers Turn Cautious.