In its latest 14-page report on the impact the “fiscal cliff” would have on the economy in 2013 and beyond, the non-partisan Congressional Budget Office (CBO) provided enough ammunition to both sides of the debate to guarantee a standoff in Washington. It would have simplified matters greatly if Doug Elmendorf, the CBO’s director, had simply said: “Pay me now or pay me later. You decide.”
The American people reelected a president (barely) without a full airing of how he spent his first term. This does not bode well for the next four years and beyond.
A Heritage Foundation study has concluded that a full employment recovery from the Great Recession isn't likely until after the next presidential election in 2016, and even that may be too optimistic.
To improve business competitiveness and revitalize the economy, France’s government has pledged $25 billion in tax credits to businesses.
According to the text of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, the law is supposed “to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end ‘too big to fail,’ [and] to protect the American taxpayer by ending bailouts.”
Although the Treasury warned that government borrowing would hit the debt ceiling before the end of the year, it also said it would use "extraordinary measures" to push off the debt ceiling conversation until the 113th Congress is seated, where it's more likely to be raised without a fuss.
In the wake of the November 6 elections, voters have approved a number of contentious state initiatives, including a $6-billion-a-year bundle of tax increases sponsored by California Governor Jerry Brown. Proposition 30, a focal point of Brown’s administration, would increase the sales tax by 0.25 cent for the next four years, while raising income taxes on those earning more than $250,000 for the next seven years.
Farmers — and those who enjoy their produce — are probably asking themselves this: Why does the Obama administration so hate farming? The answer is two-fold: It likely comes down to freedom and corporatism.
How many times have we heard about how many jobs have been added during the Obama administration? Yet few people bother to find out whether these are net additions to jobs — which is what is crucial.
Presidential candidates Gary Johnson of the Libertarian Party and Jill Stein of the Green Party agreed during Monday night's alternative candidates debate that liberty in America is endangered by a growing police state, while disagreeing over fiscal and economic issues.