The economy,
in human terms.
The stories, ideas, and everyday questions shaping our economic lives.
Startup funding can come from an owner’s resources, borrowing, investors or other arrangements. The choice turns on costs, timing, repayment capacity, control and what evidence a funder expects.
Income gaps can reflect differences in earnings, work time, household composition and the way taxes and assistance are counted. Public measures capture some parts of that picture, not every resource a family uses.
A debt chart is meaningful only when its measure, units, dates and coverage are clear. The federal debt stock accumulates across time; the deficit measures a period’s gap between spending and revenue, and neither figure alone captures economic capacity.
A satellite account reorganizes existing economic data to show activity spread across standard industries. It can trace cultural production and supporting work, while remaining an analytical view rather than a new census.
Nominal GDP values output at the prices of its period; real GDP adjusts for inflation to compare production over time. The two measures can move differently, so a growth headline needs its measure, period and reporting convention.
BLS classifies people by work, recent active job search and availability, not by whether they personally feel unemployed. These categories shape the unemployment rate and explain why some people who want work are counted outside it.
Filing status changes the income ranges taxed at each federal rate. In the IRS’s 2025 schedule, head-of-household brackets generally extend farther than single brackets, but a status change does not make all taxable income subject to one lower rate.
A base period sets an index to 100 so later levels can show relative price movement. Percent changes, calculated against the earlier index level, make comparisons meaningful across items and time.
Creative work can cross occupations, industries, products and employment arrangements, so one dataset may capture only part of it. A hypothetical photographer illustrates how statistical categories shape what researchers can see and what an arts satellite account adds.
GDP counts final output, or the value added at each stage, so the same production is not counted again when an intermediate input becomes part of a finished product.
Disinflation is a slowdown in the rate of price increases, not a return to earlier prices. A hypothetical grocery item shows how inflation, disinflation and deflation differ, while September’s CPI illustrates how a national average can move differently from individual bills.
A useful small-business plan links customer demand to competitors, prices, operating costs and funding needs. A hypothetical lunch truck shows how those assumptions can guide day-to-day choices, then change as real sales provide better evidence.
A federal deficit measures when spending exceeds revenue during a period. National debt reflects accumulated borrowing and associated interest, so one year’s surplus does not erase earlier obligations.
Income records money received over a period; wealth measures assets minus debts at a point in time. The distinction helps explain why two households with different earnings can have very different financial cushions—and why one measure cannot stand in for the other.
Federal income tax brackets apply to taxable income, which comes after deductions reduce income. Brackets are layered, so crossing a threshold raises the rate only on income in the higher layer.
Unemployment insurance records show people who apply under program rules. The monthly unemployment rate instead estimates labor-force status through a household survey, so the two measures answer different questions.
Federal filing status affects the tax brackets applied to taxable income, along with deductions and some credits. Two households with the same income can therefore face different calculations. The relevant status depends on tax rules and circumstances; income by itself does not determine the result.
Creative work spans artist occupations, arts-producing industries and supporting businesses. Occupational and industry classifications capture different parts of the work chain, while mixed careers and self-employment make any single job label an incomplete picture.
