Federal Reserve Bank of Boston President and CEO Eric S. Rosengren told a Babson College audience November 1 he favored the Federal Reserve continuing QE3 policies at least until unemployment falls below the 7.25 percent marker, even if the policies fail to stop another recessionary spike in unemployment.
According to an October 16 memorandum prepared by the Congressional Research Service (CRS) for the Senate Budget Committee, the federal government spent $746 billion on means-tested welfare programs in 2011. As the U.S. Census Bureau notes, there were 16.8 million households living below the poverty level in America in 2011. In other words, if the federal government were to give this money directly to the impoverished households, all 16.8 million households would have received over $44,000. This is double the 2011 federal poverty rate of $22,350 for a family of four, and nearly double the 2012 poverty rate of $23,050 for a family of four.
The Heritage Foundation went to the trouble of calculating exactly what will happen to the tax liabilities of taxpayers if Taxmageddon stays in place after the first of the year.
Cost estimates for ObamaCare's insurance subsidies have risen nearly 25 percent in the last two years and are expected to rise even further, according to a new think-tank report.
In the wake of Hurricane Sandy’s devastating rush on the East Coast, which is estimated to cost upwards of $20 billion, January’s sequester budget cuts have sparked a political hailstorm, as November’s two presidential candidates spar over federal funding for disaster relief.
On Monday the Bureau of Labor Statistics (BLS) said it was doing everything it could to make sure that Friday’s jobs report — the last one before the election — would come out on time, despite Hurricane Sandy.
“Well, the liar won!” That’s what half the country will be saying the night of the election or the morning after, no matter who wins, given the current level of political polarization, anger, and mistrust. It’s probably, in fact, much more than half the population who won’t be in a very celebratory mood about the election results in view of the core political belief that says, and not without an abundance of evidence, “they all lie.”
A major fundraiser for President Obama's reelection campaign appears to be the biggest winner from a ruling by the U.S. Bankruptcy Court in Wilmington, Delaware last week in favor of an exit plan for Solyndra LLC .
Royal Dutch Shell is seeking to pay a $1.4 billion debt it owes to Iran that it has been prevented from settling since a European Union embargo that started July 1.
A report from Platts news service on June 25 said that the EU embargo included a ban on oil imports and a ban on the provision of insurance for tankers shipping Iranian oil. Shell, as an Anglo-Dutch-owned company, is subject to EU jurisdiction.
Erin Burnett took only four minutes on October 23 to destroy the Obama administration's claim that the President's budget plan would eliminate $4 trillion in deficit spending over the next decade, a CNN television segment that sent the Obama campaign into damage control mode for the past week.