Federal economic statistics: we are on the right track.(FOCUS ON STATISTICS)

Some things in Washington do work. The Bush Administration, Congress, statistical agencies, and data users have banded together to improve the country's economic statistics in recent years. We have added to the resources available to the economic statistics agencies, passed legislation to improve cooperation and data security, and created requirements for performance standards. These accomplishments have enabled the Bureau of the Census, Bureau of Economic Analysis (BEA), and the Bureau of Labor Statistics (BLS) to work together even more effectively. These agencies have made significant strides in providing more reliable and timely data. As a result, U.S statistics are the best in the world.

Funding of Economic Statistical Programs Has Remained Strong

Even during an era of belt-tightening budgets, funding for economic statistics programs has increased. Census, BEA, and BLS budgets, which account for 20 percent of the almost $5 billion federal budget for all statistical agencies, have grown substantially. The total budget for these agencies (excluding funds for the Decennial Census) has increased 30 percent, from $759.3 million in 2000 to $987.2 million in 2005. BEA experienced the greatest budget increase, up by two-thirds over the last five years.

Furthermore, several important economic statistics initiatives will continue to receive more resources in the 2005 budget. And the President's current budget request steers even more funds to these programs in 2006.

Legislation and Performance Standards Improve Economic Statistics

Increased funding alone does not translate into better statistical programs. The Administration and Congress have created legislation and established a number of program performance initiatives that more efficiently allocate the limited resources available for statistical purposes. We have encouraged statistical agencies to solicit more feedback from data users, enabling them to better track how well program objectives are being met. These measures have significantly improved the reliability and usefulness of U.S. economic statistics.

Data privacy and sharing

The Confidential Information Protection and Statistical Efficiency Act of 2002 (CIPSEA) was one of the key initiatives that improved the country's statistics. CIPSEA authorized Census, BEA, and BLS to engage in more business data-sharing activities, while providing data confidentiality protection that covers all federal agencies. The E-Government Act of 2002 further protected the confidentiality of individually identifiable data by requiring Privacy Impact Assessments from all federal agencies …