Actually... this is pretty interesting stuff as we head into the 2012 political circus. More details than I'm willing to post are provided at the link below.
http://www.fool.com/investing/general/2012/01/20/3-huge-recent-economic-developments-you-may-have-.aspx?source=ihpsitth0000001
1. For the first time since 1949, the U.S. is a net fuel exporter
America has been marred with a poor energy policy for decades. The phrase "dependence on foreign oil" is ubiquitous. And make no mistake: We still rely heavily on foreign nations to feed our energy needs.
But measured one way -- imports and exports of petroleum products like gasoline, diesel, jet fuel, and propane -- the U.S. is actually now a net exporter for the first time in generations:
2. Growth in health-care spending is near a record low
Health-care costs have ravaged household, business, and government budgets for decades. Along with education, health care is one area that has truly experienced extreme inflation over the last several decades.
But the growth rate of health-care spending is actually falling at a shocking rate. According to health policy journal Health Affairs, "The rates of health spending growth in 2009 and 2010 marked the two slowest rates in the 51-year history of the National Health Expenditure Accounts."
3. The biggest contributor to the budget deficit over the last decade wasn't stimulus spending, the Bush tax cuts, or two wars. It was tax evasion.
Last week, the IRS released a report on the estimated "tax gap," or money that people legally owe in taxes but evade paying.
For 2006 (the most recent year calculated), the gap stood at $450 billion, an increase from 2001's estimated tax gap of $345 billion.
Keep in mind, this isn't money people legally avoid paying by using tax shelters like an IRA or 401(k). This is tax revenue illegally unpaid thanks to things like offshore bank accounts and unreported cash receipts from businesses.
The IRS only issues these reports every five years, and each report details just one year. But let's use some assumptions. Assume 2001's tax gap of $345 billion was reflective of the 2001-2005 period, and 2006's $450 billion gap was reflective of the 2006-2011 period. In total, that's $4.4 trillion in lost tax revenue over the last decade.
