Stories written by Raymond Keating

Raymond J. Keating is chief economist for the Small Business & Entrepreneurship Council. Reach him through the Web site at

Executive order signals end to war on energy

Throughout its eight years, the Barack Obama administration was relentless in its opposition to carbon-based energy resources, leading many observers to refer to a “war on coal” and “war on energy.” That war is coming to an end. Not only has President Donald Trump reversed the Obama White House by approving the Keystone XL and […]

Return to what works to protect online security

There are rare moments when government establishes a regulatory framework that works pretty well. That had been the case with the Federal Trade Commission (FTC) as the regulator of online privacy for the past two decades. As U.S. Sen. Jeff Flake, a Republican from Arizona, explained in an op ed in the Wall Street Journal: […]

Colorado fares well in small business policy analysis

Colorado continues to fare comparatively well in an annual analysis of how tax systems affect small businesses and entrepreneurs. Colorado came in 13th in the 2017 Small Business Policy Index compiled by the Small Business & Entrepreneurship Council. Colorado assesses comparatively low income taxes and fuel taxes, while ranking near the middle for sales and […]

Economic problems persist, so policies need to change

Since officially moving from recession to recovery in mid-2009, the story on the U.S. economy hasn’t changed. Two new reports indicate the challenges won’t change as a new presidential administration and Congress take power. The U.S. Bureau of Economic Analysis released its second estimate on third quarter GDP. The topline story offered a bit of […]

Trump plan good start in boosting economy

The economy has performed poorly over the past decade — suffering through a deep recession and a sluggish, at best, recovery largely due to a hostile federal policy climate. That has included anti-growth tax policies, which, according to the agenda for President-elect Donald Trump, should change markedly during his administration. The big ills of our […]

GDP estimate: Economic recovery more whimper than roar

The U.S. Bureau of Economic Analysis released its first estimate of third quarter gross domestic product, the broad measure of goods and services produced in the country. You know you’re stuck in a bad economy when third quarter real growth of 2.9 percent is the fastest experienced over the past two years. A headline in […]

Does anyone have a clue how government policy affects the economy?

Does anyone in a position of power in our nation’s capital have a clue as to how policy actually affects the economy? Contrary to economic common sense and what we’ve learned from history, President Barack Obama continues to push more and more regulation, higher taxes and a generally activist government. This is somehow supposed to […]

Beige Book aptly named in matching U.S. economy

The Federal Reserve recently released the latest edition of its Beige Book, an anecdotal look at the United States economy published every other month based on interviews of business contacts, economists, market observers and so on. Given our current economy, this publication is aptly named. Beige is an elusive color. In an article published on […]

Government policies affect states of growth

Overall economic growth has been abysmal in the United States. But what about differences among the states? Are there states showing strong growth relative to the rest of the nation? The Bureau of Economic Analysis released its estimate of first quarter state gross domestic product. National state GDP growth registered 1.2 percent. As for the […]

Job gains and GDP: Why the paradox?

The July jobs report from the Bureau of Labor Statistics was good news in terms of the broad numbers, but feeds into a striking recent paradox in our economy. First, in terms of the payroll survey, employment increased 255,000 in July. That’s two strong months of job gains in a row, after an eight-month dramatic […]


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