Public Pension Funds Up Against $2 Trillion Shortfall
By Douglas A. McIntyre Even in a world of massive deficits and rising national debt, not many problems come in packages that are in the trillions of dollars. The deficit facing the U.S. public…
Economy
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Newest first · Page 376More Stimulus Could Cause Double Dip Instead Of Preventing One
By Douglas A. McIntyre In his op-ed piece in The New York Times on Sunday, Nobel Prize-winning economist Paul Krugman argued that if the Obama administration and Congress on the one hand and Fed…
China Is Now The World’s Second Largest Economy
China became the world’s second largest economy in 2009, passing Japan, which has held this distinction for decades. The People’s Republic raised its growth forecast for 2008 to 9.6% from 9% which took the total…
The Whole World Moves To Texas
The Brookings Institution, The New York Times, and Bloomberg all covered the news that Texas added more people than any other state between July of 2008 and this past July, 479,000 according to the…
Geithner Says Loan Crisis May Wreck Economy, But Has No Solution
Treasury Secretary Geithner, who many members of Congress would like to see out of his job, yesterday said that tight credit could derail the nascent economic recovery. “Right now, the real risk we face…
Commerce Department GDP Revision Shows Q3 Was Awful
The Commerce Department revised GDP growth for the third quarter of this year down, again. The latest number is an increase of 2.2%. A month ago the number was dropped to 2.8% from the…
Bernanke Keeping Status Quo on Rates… For Now
Ben Bernanke may be Time Magazine’s person of the year. But today Bernanke was listed as the market watchdog of the day because the FOMC voted to keep rates steady at the same 0.00%…
Moody’s Still Concerned About US And UK Debt
Moody’s (NYSE:MCO) made comments about its ratings on US and UK sovereign debt that were meant to calm the markets. Early in the week the credit agency said that one or both countries could…
U.S. Debt Growth Slows As Households Deleverage
Today at noon the Federal Reserve released its Flow of Funds Account report. In the third quarter, U.S. debt growth grew at its slowest pace on record. Overall debt grew by 2.8%. That number is…
Trade Deficit Reduced In October As Exports Rise
The U.S. trade deficit decreased $2.7 billion $32.9 billion in October as a result of exports growing more than imports. Exports grew $3.4 billion while imports grew $745 million. Gains in exports were led…
Obama’s 2008 Campaign: A Job Creation Lesson
By John Tamny of Forbes With the federal government’s measure of unemployment in the double digits, President Obama has unsurprisingly moved job creation to the top of his list of initiatives. And while his…
Recession Sours Gaming Industry For Indian Tribes
Many Indian tribes have creates substantial businesses by building casinos on their land. The income from these operations is largely exempt from taxes. The casino business has been hit hard by the recession, especially…
Taxing The Rich To Employ The Jobless
Washington has looked at the idea of taxing the rich to help pay for the healthcare reform package. The UK is taxing well-to-do bankers taking 50% of their 2009 bonuses above a threshold of…
Why Extend The TARP?
Treasury Secretary Geithner has told Congress he will extend the existence of the TARP program through next October, but it is not clear that every member of the House and Senate will share his goals for the fund,…
The Weakness Of Government Numbers, The Trouble In Japan
The numbers on the sharp GDP improvement in the Japanese economy for the third quarter were not correct. The Japanese government says that they were not even close. Originally, the data showed the economy…