US reduces spending on economic census

A NYTimes Editorial What You Don’t Know Can Hurt You, discusses the real cost of not having information and the politics of the US Census.

Just before the break, the House of Representatives passed a bill that would cut $23.6 million from the bureau’s 2008 budget for compiling the nation’s most important economic statistics. A cut of that size would result in the largest loss of source data since the government started keeping the statistics during the Great Depression, impairing the accuracy of figures on economic growth, consumer spending, corporate profits, labor productivity, inflation and other benchmark indicators. slot machine