Blog – Scorecard – United States – March 2021 and April 2021
1. Inflation at the fastest pace since 2008 - https://www.cnbc.com/2021/05/12/consumer-price-index-april-2021.html
2. Abysmal jobs report - https://www.heritage.org/jobs-and-labor/commentary/abysmal-jobs-report-shows-folly-bidens-big-spending-agenda
3. 8.1 million job vacancies - https://tradingeconomics.com/united-states/job-offers
4. Emergency preparedness - https://www.pnas.org/content/118/19/e2106795118. I have written many blogs/presentations on the need to adapt better practices as part of mitigating the impact of geopolitical events - https://ibm.box.com/s/rsp6p9tez8uru9fo0wu5d13bxt7rtrr0
5. Commodity issues - https://www.supplychaindive.com/news/lumber-demand-shortage-price-saw-mill-board-housing-pandemic-labor/600876/
6. Pipelines - https://www.heritage.org/energy-economics/commentary/bidens-hypocrisy-keystone-xl-vs-nord-stream-2-pipelines
7. Foreign policies and affairs - https://foreignpolicy.com/2021/05/26/china-trolling-biden-gaza-palestinians-israel-middle-east-social-media-wolf-warrior-diplomacy/
8. Tax policies - https://kurtzcpa.com/tax-change-coming/
9. Fiscal management - https://www.pbs.org/newshour/amp/economy/biden-budget-to-run-1-8-trillion-deficit-to-finance-spending-plans
10. Funding of police - http://www.xinhuanet.com/english/2021-05/27/c_139973893.htm
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Economic and Fiscal Scorecard| The United States| March 2021 and April 2021
1. P A U L Y O U N G C P A C G A
M A Y 2 9 , 2 0 2 1
ECONOMIC AND FISCAL
SCORECARD – THE UNITED
STATES – MARCH 2021 AND
APRIL 2021
2. Paul Young - Bio
• CPA, CGA
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
Contact information: Paul_Young_CGA@hotmail.com
3. Agenda
• Wages (Personal Consumption)
• Inflation
• Key Industry Trends
• United States Housing (resale)
• USA Trade
• Employment
• Retail Sales / United States
• Manufacturing / United States
• Fiscal Management
• Biden first 100 days
• Biden Mistakes
• Southern Border
• Government issues / concerns
• Summary
4. Personal Consumption / USA
Source - https://economics.bmo.com/en/publications/detail/47363076-fbaa-49c6-8c71-144134558071/
5. USA Inflation
Source - https://economics.bmo.com/en/publications/detail/e4c5ce1a-1cd9-4df0-8c68-bf585c58d3bf/
7. United States Housing – Resale
Source - https://economics.bmo.com/en/publications/detail/7cf7d307-55dc-
4ebd-8e58-4bc03e1baeb6/
8. USA Trade
Source - https://www.census.gov/foreign-trade/data/index.html
EMEA is one of the biggest customers of USA oil. The
problem is EMEA is looking at imposing carbon tax as
part of managing carbon linkage.
Canada continues to import oil from USA.
Lumber prices should help reduce the tariffs on Canadian
softwood lumber.
https://www.slideshare.net/paulyoungcga/merchandise-
tradethe-united-states-march-2021
9. USA Employment
Source - https://www.bls.gov/news.release/empsit.nr0.htm
USA
Tech jobs are only about 1.6% of total employment
50% of the jobs over the past few mos. are within the hospitality and leisure sector.
Goods-Producing sector jobs as % of total jobs have been shrinking since December 2020.
https://www.slideshare.net/paulyoungcga/employment-and-labor-market-united-states
@AOC @POTUS
10. Retail Sales / United States
Source -
https://economics.bmo.com/en/publications/detail/bf3f27b5-
37dd-41e0-bba3-5000dd419e00/
Here is my work on USA Retail Sales - https://www.slideshare.net/paulyoungcga/retail-sales-canada-march-2021
11. 11
Durable Goods / Key Areas – USA
Source - https://www.census.gov/economic-indicators/index.php
U.S. orders for big-ticket manufactured goods dropped unexpectedly in April for the first time in 11
months as a shortage of computer chips disrupted auto production. -
https://www.canadianmanufacturing.com/manufacturing/u-s-durable-goods-orders-drop-1-3-in-april-
270053/ and https://www.slideshare.net/paulyoungcga/durable-goods-and-capital-spending-usa-and-
the-world-april-2021
12. Here is my latest look at durable goods and capital spending - https://www.slideshare.net/paulyoungcga/durable-
goods-and-capital-spending-usa-and-the-world-march-2021
United States Durable Goods
13. Fiscal Management / United States
Blog – How to use Data and AI to make a more Efficient and Effective Fiscal Management Cycle for Federal, State, and Local Governments
Governments around the world will be challenged when it comes to maximizing their revenue as well as delivering program spending with value for money.
Data and AI can play a key role in the following areas:
1. More effective performance and operational audits.
2. Better management of geopolitical risks.
3. Bringing resiliency to critical areas of the supply chain.
4. Better oversight and accountability of all government programs.
https://www.slideshare.net/paulyoungcga/fiscal-management-federal-state-and-local-government-the-united-states-248323930
14. First 100 days of
Biden
1. Project Warp Speed / Trump https://www.thechronicle.com.au/news/world/joe-
biden-picked-up-great-tailwinds-from-trumps-project-warp-
speed/video/32e0d9044b92b6320b5fd5d82cd5e6df
2. Still a border crisis - https://www.cbp.gov/newsroom/stats/southwest-land-border-
encounters or https://www.cbp.gov/newsroom/stats/cbp-enforcement-
statistics/criminal-noncitizen-statistics
3. Crime is not abating - https://www.cnn.com/2021/04/03/us/us-crime-rate-rise-
2020/index.html or mass shootings up -
https://www.statista.com/statistics/811487/number-of-mass-shootings-in-the-us/
4. USA emissions dropped in 2019 under Trump - https://thehill.com/policy/energy-
environment/548265-us-emissions-dropped-17-percent-in-2019-epa-says
5. Wage gap / Biden climate plan - https://www.politico.com/news/2021/04/06/biden-
climate-jobs-wage-gap-479130
6. Oil and South Dakota - https://www.keloland.com/news/capitol-news-bureau/noem-
wheres-south-dakota-coverage-of-damage-from-biden-pulling-keystone-xl-permit/
7. Foreign Aid boosts without oversight - https://www.devex.com/news/devex-
newswire-biden-s-6-8b-foreign-aid-budget-boost-99628
8. Defense spending - https://www.defensenews.com/breaking-
news/2021/04/09/biden-requests-715b-for-pentagon-hinting-at-administrations-
future-priorities/
9. Minimum corporate tax - https://fortune.com/2021/04/08/yellen-biden-corporate-
minimum-tax-plan/
10. Carbon price - https://www.ft.com/content/4ecd8ace-8c5f-40ad-b2fa-c3bf27c2c621
1. Here is the scorecard - https://www.slideshare.net/paulyoungcga/united-
states-economic-and-fiscal-scorecard-february-2021-and-march-2021
15. Biden Failures
Source - https://thehill.com/opinion/finance/555633-four-big-
economic-mistakes-by-bidens-white-house-in-just-four-months
1. First, there’s that pesky $300 per week supplemental unemployment insurance that is most definitely making it
harder for small businesses to hire back staff and limiting job growth. That the Biden team insisted on including an
extension of those payments in the ARP was an early indication that they are ignorant of how real-life businesses
function.
2. Next up is the ARP itself, and subsequent proposals to spend another $4 trillion. The White House’s $1.9 trillion
stimulus bill that passed in March was too big and too inflationary; talk of trillions more on the way alarmed the
public even as prices on everything from soft drinks to diapers began to rise.
3. The third major economic goof of Biden’s first four months in office – also related to the ARP – was highlighted
recently in Krugman’s own paper with the headline: “New Worry Over State Revenues: They’re Soaring.”
4. Finally, Biden could not resist kowtowing to the progressives in his party by proposing massive tax increases on
corporations and high-earning individuals. His plan immediately alarmed small business owners and CEOs of large
firms, which filters down to fewer hires and less investing. It also spurred even more residents of high tax states like
New York and New Jersey to consider moving to Florida or other more welcoming locales.
17. Fiscal Management and Government
Policy
1. CIA and Wuhan Virus - https://www.nytimes.com/2021/05/26/us/politics/biden-coronavirus-origins.html
2. Aid to Palestine - https://www.forbes.com/sites/adamandrzejewski/2021/05/26/biden-reversed-trumps-foreign-aid-freeze-to-expand-
palestinian-funding-63-billion-since-1950/?sh=6261790117a7
3. More value for money audits - https://www.gao.gov/products/gao-21-455sp and other reports - https://www.gao.gov/reports-
testimonies
4. USA Tax Reforms - https://www.ey.com/en_us/us-tax-reform
5. Infrastructure gap - https://www.bloombergquint.com/business/three-disasters-show-gaps-in-1-7-trillion-infrastructure-plan
6. Gender gap - https://www.pewresearch.org/fact-tank/2021/05/25/gender-pay-gap-facts/
7. Poverty - https://www.bnnbloomberg.ca/u-s-poverty-rate-rose-to-pandemic-high-ahead-of-new-stimulus-1.1592860
8. Green Economy - https://www.barrons.com/articles/green-economy-will-be-a-gold-mine-for-copper-51620424287
9. Trade - https://www.bnnbloomberg.ca/u-s-goods-trade-deficit-narrows-as-exports-surge-to-record-1.1609858 or geopolitical issues -
https://www.blackrock.com/corporate/insights/blackrock-investment-institute/interactive-charts/geopolitical-risk-dashboard
10. Public safety - https://www.whitehouse.gov/briefing-room/presidential-actions/2021/05/12/executive-order-on-improving-the-
nations-cybersecurity/ or funding police - https://www.washingtontimes.com/news/2021/feb/15/minneapolis-backtracks-defunding-
police/?utm_source=GOOGLE&utm_medium=cpc&utm_id=chacka&utm_campaign=TWT+-
+DSA&gclid=CjwKCAjwzMeFBhBwEiwAzwS8zDYjP_iGS3ulnmRt2ReyIr-HnAo1tzyHBzwZ_thdq_a1U-lzuX-2phoCJmwQAvD_BwE or crime
- https://www.yahoo.com/news/biden-had-crime-1993-trouble-085355641.html
18. Summary
• United States continues to see strong GDP growth. There are risks due to the 3rd
wave of the pandemic - https://www.slideshare.net/paulyoungcga/what-is-next-
for-the-global-economy-april-2021-updated-april-23-2021 or
https://www.slideshare.net/paulyoungcga/what-is-next-for-the-global-economy-
may-2021
19. Training and Development
• If you like to learn more
about trade and/or other
subjects as part of your
professional learning, and
development then feel
free to review my
material on
https://www.udemy.com/
(search Paul Young CPA
CGA)
• These subjects address
how to fixed issues with
housing and/or systemic
issues related to economy
including government
policies