Data on US Trade Surpluses in Services

The graph below is from the Federal Reserve Bank of St. Louis.

In this election season when one of the candidates continues to insinuate that all the other countries are taking advantage of the US regarding trade, it is helpful to have some data.  Below is Tim Taylor's comment on the graph (from his blog "Conversable Economist"):

"A fair number of Americans and politicians argue that a trade deficit is in large part a result of unfair trade practices by other countries. Essentially all actual economists disagree with that claim. Economists instead see trade deficits are arising from broad patterns of national production, consumption, and saving. A low-saving economy like the US consumes more than it produces--which it can do by running a trade deficit and importing more than it exports. A high-saving economy produces more than it consumers--which it can do by running a trade surplus and exporting more than it imports. Unfair trade practices can certainly restrict overall flows of trade, but they aren't a main cause of trade deficits and surpluses."

Graduation Rates and Student income

There is an interesting piece on the New York Times (The Upshot) about the relationship between graduation rates and low income students.  The graph below is from the essay.  It relates graduation rates (six year rates) with the percentage of students receiving Pell grants.

The authors of the study discussed state:

Colleges that have high graduation rates tend to be more selective and tend to have students who are more affluent and more academically prepared. Colleges with lower graduation rates tend to admit a higher percentage of students with Pell grants, which usually go to lower-income students.