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Research

The Wires Are Winning: Electricity's Quiet Takeover of the American Energy Bill

As the White House pitches a data-center 'dividend' and a national survey finds one in five households cutting groceries to pay power bills, the official consumption record shows the household electricity bill has grown from $187.3 billion in 2019 to $269.9 billion in 2025, up 44.1%, while gasoline spending rose just 18.8% over the same span. BEA regional data show New England's electricity bill grew fastest (48.4% since 2021) and the Plains slowest (18.9%).

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Ohio’s homeownership crash is not a high-rent story

Ohio led the country in the drop of occupations that can still buy a typical home. Official spending, prices and construction payrolls show a cheaper housing market than the U.S. average, stalled real incomes, and more builders on the books—not a California-style rent spike.

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The 22% airfare, next to a $194 billion flying bill

September’s CPI put gasoline and air fares at the center of the last inflation print before the midterms. Official household books through 2025 show air travel already taking a larger slice of spending than before the pandemic — and, in Hawaii, Alaska and Florida, rivaling the pump.

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Anduril's 3,100 jobs, next to the shipyard payroll America already has

Anduril wants a $3.7 billion Sparrows Point yard and more than 3,100 permanent jobs to feed Virginia-class submarines. Official payrolls show a U.S. shipbuilding workforce that is still smaller than in 1990, a Maryland factory base that never recovered after Bethlehem Steel closed, and existing Hampton Roads yards that already employ about ten times that permanent-job promise.

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Ninety dollars, three days of average care

The White House is mailing $90 to 20.8 million Medicare Part B enrollees. Official household spending books through 2024 show how far that cheque goes against per-person health-care services, the $4.1 trillion health function, and a $270 billion insurance line.

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The $6,500 energy surcharge, next to the bill Americans already pay

A think tank says federal energy policy will add $6,500 per household through 2040, with Oregon, Mississippi, South Dakota, Virginia and Wyoming near $9,000. Official spending books through 2024 show Americans already paying more than $2,200 a person a year on electricity, gas, fuel oil and motor fuels — and two of those five states still sit below the national average.

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Research

The Flat Line Under Minnesota's Report Card

Minnesota released spring test scores showing fewer than half of students on grade level. The official payroll and household-spending books show a school workforce that has been flat for 25 years, a shrinking slice of the state's job market, and K-12 costs carried almost entirely by taxes rather than family checkbooks.

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The 10-million-ton coal promise, next to the grids already built

After a Washington summit that sold China 10 million tons of U.S. coal a year and a rollback of U.S. fuel-economy rules, IRENA’s electricity books show China already running much larger coal and solar fleets than America. U.S. coal capacity has been shrinking; U.S. solar overtook it in 2024. Generation still lags those nameplates, and U.S. gas remains the workhorse.

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Two scoreboards for the Trump-Xi table

IMF World Economic Outlook estimates still put the United States ahead in dollar GDP and far ahead in income per person, while China is larger on purchasing-power and takes a bigger slice of world output. The vintage is an August 2026 snapshot, not a live read of this week’s summit.

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The Hike-Proof Boom: Americans Are Starting Businesses at a Record Pace, and the Fed Just Raised Rates Into It

The Federal Reserve raised rates this week because demand will not cool. This article tests that claim against the Census Bureau's business-formation record: new-business applications are running at all-time highs in 2026 — 78% above 2019, above even the pandemic surge — across states red and blue. It also shows the catch: historically only a small and shrinking share of those applications ever became real businesses, and the measure that would confirm today's boom has yet to be published.

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The Coal Rescue Has About 39,000 Employees

The EPA calls its power-plant repeal the largest power-sector deregulation in U.S. history, often framed around keeping coal alive. Official payrolls show roughly 39,000 coal-mining employees — shrinking faster than the rest of the energy sector and near the record low set in 2020.

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The $200 Check and the Power Bill

New York is mailing up to $200 energy rebates to 8.2 million households. The official books show why the state needs them — and why the check is a gesture rather than a cure: New York households spent $14.8 billion on electricity in 2024, and the $1 billion rebate pool covers only about 6.8% of that annual bill.

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The jobs boom healthcare already paid for

August hiring blew past forecasts and traders priced a Fed hike. Official payrolls through July show a much thinner story: real hourly pay had already slipped after the Iran war began, and private education and health services had added more jobs than the entire net gain in the U.S. labor market.

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The blockade is squeezing an economy that was already small

Energy Secretary Chris Wright says a U.S. blockade will change Iran’s regime or its policies. IMF World Economic Outlook figures, pinned before this weekend’s tanker strikes, show an economy already a fraction of America’s, with inflation near 51 percent and a dollar GDP that peaked in 2011.

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The childcare waitlist is not a missing-worker mystery

After pandemic aid expired, hundreds of thousands of eligible children sat on childcare-assistance waitlists. Official payrolls show the U.S. childcare workforce had already recrossed its pre-pandemic size — and then stalled — while hourly pay still tracks restaurants, not nursing homes.

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Virginia’s GDP kept rising. The jobs did not.

Official payrolls show Virginia lost about 48,000 jobs over the year to July 2026 even as real GDP was still a little higher than a year earlier. The split is already on the books: consulting and federal jobs fell, health care and local government kept hiring, and information output nearly doubled without an information payroll boom.

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The $15.7 million farm, and the much smaller industry already on Pennsylvania’s books

An 86-year-old Pennsylvania farmer turned down a reported data-center bid to keep 261 acres in crops. Official GDP shows why that bargain is so lopsided: farms are a rounding error on the state’s economy, real farm output has barely moved since 2000, and data processing is larger — but still tiny next to construction. West Virginia’s income-tax bet on hyperscale campuses is not yet visible in the accounts.

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Research

A 20-megawatt reactor is a rounding error. The transformer shop is the bottleneck.

The Army is paying for tiny nuclear machines so five bases can keep the lights on if the commercial grid fails, and the White House has declared a national emergency over foreign transformers. Official generation and payrolls show America’s nuclear fleet is huge, almost unchanged, and still smaller than gas — while the factories that make grid kit never got back to 1990.

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Research

The housing ladder moved inland

Realtor.com’s “affordability refugees” are shopping outside their own metros. Official housing price parities show why the West’s old bargains no longer look cheap — and why Utah’s real incomes have not kept up.

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Iowa’s farm boom is over. The official books have not crashed.

Iowa farmers told reporters this week that diesel, tariffs, and a stalled farm bill have them in a squeeze that could flip a Senate seat. Bureau of Economic Analysis farm proprietors’ income and farm GDP show a different sequence: a historic 2022 peak, a 2023–24 hangover that halved Iowa’s farm-proprietor dollars, and a partial rebound by early 2026 — with real farm output barely down.

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The Canada fight is over industries that already shrank

Ottawa walked away over steel, aluminum, autos and lumber, then named dairy, appliances, farm equipment, paper and electronics for retaliation. Official U.S. payrolls show those industries still employ about 3.3 million people — and most of them have been getting smaller for a generation. Canada's economy is about one-thirteenth the size of America's.

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The cattle herd shrank. The packing plants did not.

Tyson is closing beef plants as the U.S. cattle herd hits a 75-year low. Official payrolls through June 2026 show packing employment near a record, with the stall concentrated in animal-except-poultry slaughtering while poultry processing and food manufacturing kept adding jobs.

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Texas cities grew. Their workforces did not keep up.

Dallas, Fort Worth, Austin, and San Antonio are cutting staff and raising property taxes. Official payrolls show local-government jobs — cities, counties, and school districts — have lagged population and private hiring since 2010, while housing costs took a larger bite of Texans’ incomes.

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The payroll test of “American workers first”

Since January 2025, official U.S. payrolls have added jobs in construction and leisure while manufacturing and transportation have shrunk. Average hourly earnings in those industries have risen a little faster than the private-sector average; inflation-adjusted private pay is essentially flat.

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