Archive for the ‘Economy’ Category

From the Report: "The federal debt will represent 62% of the nation's economy by the end of this year, the highest percentage since just after World War II, according to a long-term budget outlook released today by the non-partisan Congressional Budget Office. For more detail on the report, check out this post in ... Full story

Both Republicans and Democrats have used it. I understand the argument that the Health Care bill is the largest of its kind: 1/6 of the economy. But there is historical precedent to support the so-called "nuclear option." Reconciliation has been used and has so in fairly similar ways, ... Full story

I have to admit that I have on occasion caught parts of the Glenn Beck show; you know that far Right-Wing fear and hate monger. Mainly I catch it on the weekends, if at all. Anyway, Beck for well over a year has been preaching about the coming economic apocalypse.  However frightening and ... Full story

This should send a chill down your spin while watching: Financial Services Subcommittee on Oversight and Investigations hearing of May 5, 2009 Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and ... Full story

The Treasury announced Thursday a record $104 billion worth of bond auctions for next week, part of its herculean efforts to finance a rescue of the world's largest economy. The sales will exceed the previous record of $101 billion set in auctions that took place in the last week of April and consist of two-year, five-year and seven-year securities. That record was matched by another $101 ... Full story

Two Japanese guys currently in custody in Italy!!! ... This would be funny if it wasn't so scary; and telling all at once... Two men carrying bonds concealed in the bottom of their luggage also would be the fourth-largest U.S. creditors. Note: there are no hard facts involving this report yet, but we will see. UPDATE: United States Treasury announces that these bonds were fakes, thank God. But, ... Full story

I have refrained these past few weeks from getting into much politically, but when I see something that has to do with our troops, such as this. Well, I am compelled to post it: WASHINGTON, March 16 /PRNewswire-USNewswire/ -- The leader of the nation's largest veterans organization says he is "deeply disappointed and concerned" after a meeting with President Obama today to discuss a proposal to ... Full story

Can't embed the video, but for those who are interested this from the CNBC website: http://www.cnbc.com/id/15840232?video=1039849853 Full story

U.S. Senate Republican Leader Mitch McConnell's comments on the Government Spending Bill, a.k.a., "Stimulus" are below. Here's a highlight: "But one of the good things about reading history is you learn a good deal. And, we know for sure that the big spending programs of the New Deal did not work. "In 1940, unemployment was still 15%. And, it’s widely agreed among economists, that what got ... Full story