Keyword: obamanomics

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  • The Vanishing Male Worker: How America Fell Behind

    12/11/2014 3:45:29 PM PST · by 2ndDivisionVet · 57 replies
    The New York Times ^ | December 11, 2014 | Binyamin Appelbaum
    ANNAPOLIS, Md. — Frank Walsh still pays dues to the International Brotherhood of Electrical Workers, but more than four years have passed since his name was called at the union hall where the few available jobs are distributed. Mr. Walsh, his wife and two children live on her part-time income and a small inheritance from his mother, which is running out. Sitting in the food court at a mall near his Maryland home, he sees some of the restaurants are hiring. He says he can’t wait much longer to find a job. But he’s not ready yet. “I’d work for...
  • Labor Force Participation Remains at 36-Year Low

    12/05/2014 3:37:12 PM PST · by george76 · 7 replies
    CNS News ^ | December 5, 2014 | Ali Meyer
    The labor force participation rate remained at a 36-year low of 62.8 percent in November, according to the Bureau of Labor Statistics. The participation rate, which is the percentage of the civilian noninstitutional population who participated in the labor force by either having a job during the month or actively seeking one, was 62.8 percent in November which matches the percentage since March 1978. In November, according to BLS, the nation’s civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, reached 248,844,000. Of those, 156,397,000 participated in the labor force...
  • It’s official: America is now No. 2

    12/04/2014 6:42:48 AM PST · by Oldeconomybuyer · 23 replies
    Market Watch ^ | December 4, 2014 | By Brett Arends
    There’s no easy way to say this, so I’ll just say it. We’re no longer No. 1. Today we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is no longer the leading economic power on the planet. It just happened — and almost nobody noticed. The International Monetary Fund recently released the latest numbers for the world economy. And when you measure national economic output in “real” terms of goods and services, China will this year...
  • Obama to business leaders: Raise wages

    12/03/2014 2:30:46 PM PST · by Oldeconomybuyer · 40 replies
    MSNBC ^ | December 3, 2014 | By Zachary Roth
    In remarks that underscored an emerging concern about the direction of the economy, President Obama told business leaders Wednesday that, despite record corporate profits, stagnant wage growth is creating anxiety among workers. Obama [said] that the shrinking of wages and income as a share of overall GDP had caused an “undertow” of pessimism, despite the improving economy, and said giving workers a raise would benefit corporations, too. “When wages are good, and consumers feel like they’ve got money in their pockets, that ends up being good for business not bad for business,” he said. Obama appeared relaxed and at ease,...
  • Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

    Tyler Durden 12/01/2014 Last week, total US debt was a meager $17,963,753,617,957.26. Two days later, as updated today, on Black Friday, total outstanding US public debt just hit a new historic level which probably would be better associated with a red color: as of the last work day of November, total US public debt just surpassed $18 trillion for the first time, or $18,005,549,328,561.45 to be precise, of which debt held by the public rose to $12,922,681,725,432.94, an increase of $32 billion in one day.(snip)
  • How Much Obamanomics Has Cost Us

    12/01/2014 6:45:49 PM PST · by george76 · 6 replies
    Heritage Foundation ^ | November 29, 2014 | Stephen Moore
    What has been the price tag for the audacious Obamanomics experiment? How much has it all cost — the bailouts, the debt, the stimulus plans, the printing of cheap money, Obamacare and all the rest? The answer to that question is just north of $10 trillion. That’s the sum of the $8.3 trillion added to the national debt since Sept. 15, 2008 (the day Lehman Brothers filed bankruptcy) for all the government spending, and the $3.5 trillion of easy money flushed into the economy by the Federal Reserve through the initial monetary expansion and three rounds of quantitative easing. If...
  • Obama to Introduce Sweeping New Controls on Ozone Emissions

    11/26/2014 6:55:54 AM PST · by Oldeconomybuyer · 18 replies
    New York Times ^ | November 25, 2014 | By CORAL DAVENPORT
    The Obama administration is expected to release on Wednesday a contentious and long-delayed environmental regulation to curb emissions of ozone, a smog-causing pollutant linked to asthma, heart disease and premature death. The sweeping regulation, which would aim at smog from power plants and factories across the country, particularly in the Midwest, would be the latest in a series of Environmental Protection Agency controls on air pollution that wafts from smokestacks and tailpipes. Such regulations, released under the authority of the Clean Air Act, have become a hallmark of President Obama’s administration. Environmentalists and public health advocates have praised the E.P.A....
  • Child homelessness at historic high in US (Thanks 0bama!)

    11/17/2014 7:40:05 AM PST · by Uncle Miltie · 41 replies
    The number of homeless children in the U.S. has surged in recent years to an all-time high, amounting to one child in every 30, according to a comprehensive state-by-state report that blames the nation’s high poverty rate, the lack of affordable housing and the impacts of pervasive domestic violence. Titled “America’s Youngest Outcasts,” the report being issued Monday by the National Center on Family Homelessness calculates that nearly 2.5 million American children were homeless at some point in 2013. The number is based on the Department of Education’s latest count of 1.3 million homeless children in public schools, supplemented by...
  • Obama Admin Appointee Admits few net jobs created

    11/17/2014 7:17:25 AM PST · by Academiadotorg · 8 replies
    Accuracy in Academia ^ | November 14, 2014 | Spencer Irvine
    An Obama Administration appointee admits there have been “few net jobs created” over the past decade but thinks increased spending on education will solve the problem. At the Center for American Progress, the White House Deputy Director of the Domestic Policy Council, James Kvaal, said, “The overriding goal of his second term in office is rebuilding the strength of the middle class and after recovering from the greatest economic crisis since the Great Depression.” He claimed, “We now have an economy that is growing again; ten million new jobs have been created.” Americans now see “rising middle class standards” under...
  • United Way study finds working families struggling to get by

    11/13/2014 9:51:03 AM PST · by SoFloFreeper · 21 replies
    Miami Herald ^ | 11/11/14 | JENNY STALETOVICH
    Almost half the residents of Florida, including much of the state’s glitzy southern half, are barely getting by, living below the federal poverty level or struggling to pay for food, housing, childcare and other basic needs, according to a United Way study released Tuesday.
  • SEC to focus on executive-compensation rules, White says

    11/10/2014 8:51:18 AM PST · by Oldeconomybuyer · 4 replies
    Market Watch ^ | November 10, 2014 | By Eric Garcia
    Securities and Exchange Commission Chairwoman Mary Jo White said the agency will be focused on implementing rules on executive compensation. “We have three or four [rules] yet to finish, including the clawbacks,” she said in an interview with CNBC at the Securities Industry and Financial Markets Association. The agency has already adopted six rules regarding executive compensation. Under the Dodd-Frank law, the SEC is required to create rules to return compensation that was improperly received, called “clawbacks,” and create a rule to prevent securities exchanges from listing securities of companies that have not implemented such a policy. White said among...
  • Why many aren’t celebrating low US unemployment (disingenuous AP)

    11/08/2014 9:32:08 AM PST · by Olog-hai · 32 replies
    Associated Press ^ | Nov 8, 2014 11:53 AM EST | Josh Boak
    The unemployment rate no longer seems to reflect America’s mood. Friday’s strong jobs report showed that the jobless rate—the most closely watched gauge of the economy’s health—is down to 5.8 percent. A year ago, the rate was 7.2 percent. Five years ago, it was 10 percent. It’s the kind of sustained decline that would normally suggest a satisfied public. Not so much anymore. […] Many Americans don’t feel they've benefited from falling unemployment any more than they have from a sustained rise in the stock market or from solid U.S. economic growth. Some hints of their discontent can be found...
  • The Jobs Report Is Even Better Than It Looks

    11/07/2014 1:20:17 PM PST · by Oldeconomybuyer · 23 replies
    New York Times ^ | November 7, 2014 | by Justin Wolfers
    The topline of this morning’s jobs report shows nonfarm payrolls expanding by 214,000 jobs in October. It’s the sort of number that suggests a narrative of a continuing, albeit disappointing, economic recovery. But dig a little deeper and you find a much sunnier story. When read carefully, today’s report provides more evidence that the labor market is improving quite rapidly, and that the recovery has gained momentum over the past year. The old saying is that the devil is in the details. Today’s report suggests just the opposite — dig into the details, and you’ll find a much sunnier story...
  • President Barack Obama's Legacy Pitch

    10/30/2014 8:35:37 AM PDT · by pabianice · 19 replies
    Politico ^ | 10/30/14 | Brown, Epstein
    Speaking to a mostly white college audience: "“This progress has been hard but it has been steady and it has been real,” Obama said at Northwestern University on Oct. 2. “And it’s the direct result of the American people’s drive and their determination and their resilience, and it’s also the result of sound decisions made by my administration. So it is indisputable that our economy is stronger today than when I took office.” Obama griped to party donors several days later that his accomplishments are a mystery even to his most loyal supporters. “Most of you don’t know the statistics...
  • U.S. initial jobless claims tumble to 264,000, hit lowest level in more than 14 years

    10/16/2014 5:41:10 AM PDT · by Oldeconomybuyer · 9 replies
    Market Watch ^ | October 16, 2014
    WASHINGTON -- The number of people who applied for U.S. jobless benefits fell 23,000 to 264,000 in the week that ended Oct. 11, hitting the lowest level since April 2000, showing that employers are laying off few workers, according to government data released Thursday.
  • Obama’s approval rating falls in deep-blue states

    09/24/2014 10:55:32 AM PDT · by Oldeconomybuyer · 22 replies
    The Hill ^ | September 24, 2014 | By Justin Sink
    Just weeks after President Obama's approval rating hit record lows in the liberal bastion of California, a new survey shows the president in trouble in another deep blue state: New York. Only 39 percent of registered New York voters surveyed in a Marist College poll said Obama is doing an "excellent" or "good" job, the lowest level for Obama in the poll since the beginning of his presidency. Sixty-one percent of survey respondents judged Obama as doing a "fair" or "poor" job in office.
  • Obamanomics victimizes president’s biggest supporters most: Minorities, single women, youths hardest

    09/14/2014 6:24:40 PM PDT · by george76 · 20 replies
    Washington Times ^ | September 12, 2014 | Stephen Moore
    June 2009 to June 2014.” This report found, depressingly, that five years into an “economic recovery,” real median household income “is now 3.1 percent below that of June 2009 when the ‘great recession’ officially ended.” In dollar terms, real median household income fell by $1,698. So much for the Obama claim on Labor Day that “by nearly any measure, the economy is doing better.” Well, actually, for more than half of Americans, their personal financial situation is worse. ... the poor and unskilled that Mr. Obama says he cares so much about saw their incomes fall by 7.4 percent for...
  • U.S. jobless claims rise unexpectedly, but still at pre-recession levels

    09/11/2014 5:46:57 AM PDT · by Oldeconomybuyer · 15 replies
    Reuters ^ | September 11, 2014 | By Lucia Mutikani
    The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but that probably does not signal a material shift in labor market conditions as claims remain near their pre-recession levels. Initial claims for state unemployment benefits increased 11,000 to a seasonally adjusted 315,000 for the week ended Sept. 6, the highest level since late June, the Labor Department said on Thursday. Claims for the prior week were revised to show 2,000 more applications received than previously reported.
  • Record Milk Price Signals Higher Prices for Pizza, Pastries

    09/08/2014 6:59:39 PM PDT · by SoFloFreeper · 13 replies
    Milk futures rose to a record high price Monday as exports by the U.S. climbed amid shrinking inventories of cheese and butter, signaling higher costs for pizza and pastries. The U.S. shipped a record 17 percent of milk production in the first half, according to Alan Levitt, a spokesman at the U.S. Dairy Export Council. Cheese stockpiles in July dropped 8 percent from a year earlier, and butter supplies tumbled 42 percent, the Department of Agriculture said last month. U.S. dairy costs are higher than world prices, signaling imports will increase, said Jon Spainhour, a partner at Rice Dairy LLC.
  • Detroit's Under-Funded Fire Departments Use a Soda Can For a Fire Alarm

    09/07/2014 2:10:22 PM PDT · by DogByte6RER · 39 replies
    Gizmodo ^ | Sptember 6, 2014 | Robert Sorokanich
    Detroit's Under-Funded Fire Departments Use a Soda Can For a Fire Alarm Where absent money leaves gaps, ingenuity fills in. Nowhere is that more true than in Detroit's fire departments, where, as Detroit Free Press reporter Tresa Baldas shows us, a soda can full of jangling coins and screws alerts the Motor City's long-suffering heroes when there's an emergency. The system is brilliantly simple: A soda can full of rattling metal is balanced on top of the fire department's printer at the end of the tray. When the printer spits out an emergency alert, the paper knocks over the can....
  • U.S. Job Growth Slips in August After Months of Bigger Gains

    09/05/2014 6:31:39 AM PDT · by Oldeconomybuyer · 12 replies
    New York Times ^ | September 5, 2014 | By NELSON D. SCHWARTZ
    American employers hired at a surprisingly weak pace in August, even as the unemployment rate fell slightly, the Labor Department said Friday. Economists, along with politicians, have been hoping to see a significant rebound in the participation rate as unemployment drops and hiring picks up, but progress on this front has failed to materialize.
  • August job growth worst of the year: 142K

    09/05/2014 6:14:01 AM PDT · by SoFloFreeper · 17 replies
    The Hill ^ | 9/5/14 | Vicki Needham
    The U.S. economy added 142,000 jobs in August, well below expectations and breaking a six-month streak of gains above 200,000...
  • U.S. Jobless Claims Rose 4,000 Last Week

    09/04/2014 6:34:15 AM PDT · by SoFloFreeper · 3 replies
    Wall Street Journal ^ | 9/4/14 | House & Mitchell
    The number of new applications for jobless benefits rose last week but stayed near 2014 lows, a new indication of an improving labor market. Initial claims for unemployment benefits increased by 4,000.... ... four-week moving average of claims, which smooths out weekly volatility, rose 3,000 to 302,750.....
  • Report: Households See Electricity Prices Rising At Record Levels

    09/02/2014 5:16:20 PM PDT · by george76 · 42 replies
    Daily Caller ^ | 09/02/2014
    Electricity prices are on the rise across the country, according to federal government data. The average price has risen more than 3 percent since the same time last year — the highest year-over-year growth for the first half of the year since 2009. According to the U.S. Energy Information Administration, residential electricity prices — what households pay to keep the lights on — averaged 12.3 cents per kilowatt hour for the first half of this year. This is 3.2 percent above the average price this time last year. New England, however, saw prices rise significantly more than the national average....
  • U.S. consumer spending falls for first time in six months

    08/29/2014 5:47:16 AM PDT · by Oldeconomybuyer · 7 replies
    Market Watch ^ | August 29, 2014 | By Jeffry Bartash
    Consumer spending fell in July for the first time in six months, as Americans cut back on purchases of new cars and other retail goods, the government reported Friday. The drop in spending was a bit of a surprise: economists polled by MarketWatch had predicted a seasonally adjusted 0.1% increase. The growth in incomes, meanwhile, slowed to 0.2% pace in July from 0.5% in each of the prior two months. It was the smallest gain since December and also below Wall Street expectations.
  • CBO revises estimate, warns U.S. economic growth will underwhelm in 2014

    08/27/2014 1:35:40 PM PDT · by SeekAndFind · 25 replies
    Hotair ^ | 08/27/2014 | Noah Rothman
    The Congressional Budget Office released a bit of a good news/bad news report on Wednesday regarding the state of the U.S. economy and federal budget. In the bad news column, CBO projected 2014’s GDP growth at just 1.5 percent. The report blamed this revision on “the surprising economic weakness in the first half of the year.” In early June, the International Monetary Fund projected the United States to grow by just 2 percent this year, revising its own estimate down from a previously anticipated 2.7 percent GDP expansion. This report is not likely to be warmly greeted by the...
  • 'Scary' correction is coming: Analyst

    08/27/2014 9:16:01 AM PDT · by Citizen Zed · 58 replies
    cnbc ^ | 8-27-2014
    The Fed's low interest rates could bring a "scary" 50-60 percent market correction, technical analyst Abigail Doolittle told CNBC on Wednesday. "Unfortunately, I think it could come on a crash similar to what happened in 2007," the founder of Peak Theories Research said on " Squawk Box " a day after the S&P 500 closed above the 2,000 level for the first time ever. "It's tough to know what the exact catalyst will be. But that's the very nature of that kind of selloff. They start slowly and then happen very suddenly." Doolittle pointed to a 20-year chart of the...
  • CBO forecasts $506 billion budget deficit for 2014 (1.5% GDP)

    08/27/2014 7:41:15 AM PDT · by Oldeconomybuyer · 10 replies
    Market Watch ^ | August 27, 2014 | By Robert Schroeder
    The Congressional Budget Office on Wednesday raised its estimate of the federal government’s budget deficit for the current fiscal year as it slashed its growth forecast, and warned red ink was due to rise in coming years if Washington doesn’t change current laws. In an update of budget and economic projections for 2014 to 2024, the nonpartisan CBO said the U.S. government’s deficit for fiscal 2014 will be $506 billion, or 2.9% of gross domestic product. The new estimate is $14 billion more than the agency’s prior estimate for the year, issued in April. The agency lowered its projection of...
  • The FDA's New Food Regulations Are A Recipe For High Food Prices

    08/27/2014 5:33:40 AM PDT · by SoFloFreeper · 14 replies
    Forbes ^ | 8/22/14 | Julie Gunlock
    Food prices continue to go up and consumers are feeling the pinch. According to the Bureau of Labor Statistics, the price of food has spiked to its highest rate since September 2011. Consumers are now paying more for such staples as ground beef, chicken and turkey, eggs, bacon, citrus fruit, coffee, peanut butter, and margarine. Normally, politicians would try to alleviate this financial strain on American families. Yet, this administration seems to want to make food more expensive.
  • Another survey finds manufacturers less willing to hire due to Obamacare

    08/25/2014 8:24:00 AM PDT · by Oldeconomybuyer · 12 replies
    Market Watch ^ | August 25, 2014
    Fresh off a Philadelphia Fed survey of manufacturers finding that the Affordable Care Act is acting as a drag on hiring and increasing part-time employment, a Dallas Fed survey finds the much same thing. Like the Philly Fed survey, it was tacked on to an existing monthly survey of conditions. In this case, a net 23.5% of respondents say the number of workers employed is lower due to the effects of what’s commonly called Obamacare. Part-time work is up, the amount of work outsourced is up, wages and salary compensation per worker is down, other benefits are down, and prices...
  • Millions helped by Obama health law may get hit with reduced tax refunds unless they act soon

    08/25/2014 3:34:36 AM PDT · by SoFloFreeper · 35 replies
    AP via Fox ^ | 8/25/14 | AP hack
    Taxes? Who wants to think about taxes around Labor Day? But if you count on your tax refund and you're one of the millions getting tax credits to help pay health insurance premiums under President Barack Obama's law, it's not too early. Here's why: If your income for 2014 is going to be higher than you estimated when you applied for health insurance, then complex connections between the health law and taxes can reduce or even eliminate your tax refund next year.
  • More Than A Thousand Stood Under Heat & Sun For Free Food In Miami

    08/22/2014 12:54:49 PM PDT · by SoFloFreeper · 71 replies
    CBS Miami ^ | 8/22/14
    More than a thousand locals lined up Friday morning for several hours under the scorching sun and heat in Miami for a box full of food. The event located at the Central Shopping Plaza at 3825 NW 7th Street started at 9:00 a.m.
  • US Unemployment Claims Fall to 298K

    08/21/2014 7:00:58 AM PDT · by SeekAndFind · 42 replies
    Epoch Times ^ | 08/21/2014
    Fewer people applied for U.S. unemployment benefits last week, another sign the job market is improving. The Labor Department said Thursday that weekly claims for jobless aid fell 14,000 last week to a seasonally adjusted 298,000. The prior week’s figures were revised up slightly to 311,000. The less-volatile four-week average rose 4,750 to 300,750. It remains close to levels that predate the Great Recession of 2007-2009. Applications are a proxy for layoffs. Employers aren’t just keeping workers. They’re hiring at a pace last seen during the tech boom. They added 209,000 jobs in July, the sixth straight month that job...
  • Hostess Twinkie factory near Chicago closing [400 Jobs Lost, Obama Goes Golfing]

    08/21/2014 4:38:48 AM PDT · by SoFloFreeper · 31 replies
    CNBC ^ | 8/20/14
    The Schiller Park, Ill., bakery, where Twinkies were invented in 1930, will close according to an announcement by Hostess Brands on Wednesday....
  • Average Price of Ground Beef Hits All-Time High

    08/20/2014 5:47:09 AM PDT · by xzins · 69 replies
    CNS ^ | August 19, 2014 | Ali Meyer
    (CNSNews.com) – The average price for all types of ground beef per pound hit its all-time high -- $3.884 per pound -- in the United States in July, according to data released today by the Bureau of Labor Statistics (BLS). That was up from $3.880 per pound in June. A year ago, in July 2013, the average price for a pound of ground beef was $3.459 per pound. Since then, the average price for a pound of ground beef has gone up 42.1 cents--or about 12 percent. Five years ago, in July 2009, the average price for a pound of...
  • Fed Survey: 1/3 of Americans say they are worse off 5 years after recession

    08/08/2014 7:49:29 AM PDT · by SeekAndFind · 20 replies
    American Thinker ^ | 08/08/2014 | Rick Moran
    There's a lot of economic anxiety in America today, so it's no surprise that the Federal Reserve has discovered substantial pessimism about Americans' own personal financial situation. The Feds most recent survey shows that 1/3 of Americans believe themselves to be worse off 5 years after the recession ended.Wall Street Journal: More American households say they are worse off  rather than better five years after the recession, a new Federal Reserve survey found. The report, released for the first time on Thursday, found 34% of households said they were “somewhat worse” or “much worse” financially in 2013 compared to 2008....
  • Thanks Putin! Market Correction has begun

    08/08/2014 6:26:02 AM PDT · by SoFloFreeper · 11 replies
    CNN MONEY ^ | 8/8/14
    German investors are feeling the pain of escalating tensions with Russia that may have already pushed Europe's largest economy into reverse... ....Europe, the U.S. and other Western nations have issued increasingly tough sanctions against Russia over its role in destabilizing parts of Ukraine. Russian President Vladimir Putin responded this week by banning various food imports from the U.S., Europe, Australia, Canada and Norway. Several companies have already warned of damage to come, and economic data have soured as businesses postpone big spending decisions. Germany is Russia's biggest trading partner in Europe and thus has most to lose. Now Russian leaders...
  • JULY UNEMPLOYMENT: STILL IN THE DOLDRUMS, BUT A LITTLE WIND IN THE WORKFORCE SAILS

    08/05/2014 4:55:59 AM PDT · by SoFloFreeper · 6 replies
    Human Events ^ | 7/31/14 | John Hayward
    Since the media has spent the last six years ignoring the decline of the American workforce, and writing comically lunkheaded propaganda stories about how the unemployment picture “improved” when it was actually people giving up altogether and dropping out of the game, it seems appropriate to switch gears and applaud the small signs of life.... it has absolutely nothing to do with some mythical “recovery” finally chugging to life as Obamanomics suddenly starts working, after six years of failure and trillions of dollars spent. It’s because extended unemployment benefits were not renewed.
  • Why It’s Worrying That U.S. Companies Are Getting Older

    08/04/2014 4:44:01 PM PDT · by Nachum · 32 replies
    WSJ ^ | 8/4/14 | Asma Ghribi
    <p>Not only is the American population aging, businesses in the U.S. also are growing older.</p> <p>Older firms are increasingly controlling the largest market share in different sectors of the economy, according to a paper by the Brooking Institution’s Robert E. Litan and Ennsyte Economics’s Ian Hathaway. By 2011, the portion of U.S. businesses aged at least 16 years reached 34%, compared to 23% in 1992. Moreover, those mature companies went from employing only 60% of private-sector workers in 1992 to employing nearly three quarters of the private-sector labor force in 2011.</p>
  • Poor Families Use 'Supervouchers' To Rent In City's Priciest Buildings (HUD's Chicago Gold Coast!!)

    07/28/2014 4:47:36 PM PDT · by drewh · 36 replies
    Crains Business Journal ^ | 7/28/14 | By Alby Gallun
    The high-rise at 500 N. Lake Shore Drive is the second-most expensive in the city, with rents for a one-bedroom apartment approaching $3,000 a month, well beyond the reach of most Chicago residents. But that's not too much for the Chicago Housing Authority, which has used federal tax dollars to pick up most of the tab for four lucky residents in the year-old building, with its sweeping views of Lake Michigan, a concierge and a dog-grooming center. The tenants moved in over the past two years as part of a push by the CHA to expand its housing voucher program...
  • Grim Milestone: Current Administration Adds $7 Trillion to National Debt

    08/04/2014 2:53:36 PM PDT · by Kaslin · 7 replies
    Townhall.com ^ | August 4, 2014 | Daniel Doherty
    On July 3, 2008, then-presidential candidate Barack Obama infamously called President George W. Bush “unpatriotic,” and his polices “irresponsible” for adding $4 Trillion to the country's "credit card." This was almost more than all other US presidents combined, he argued, and therefore was putting America on a dangerous path to fiscal insolvency. Less than six years into his own administration, however, the president has failed to reverse the untenable course set by his predecessor; and, indeed, is making America's heavy debt burden even worse. CNS News reports: The total federal debt of the U.S. government has now increased more than...
  • Average Price of Electricity Climbs to All-Time Record

    07/30/2014 8:04:11 AM PDT · by george76 · 23 replies
    CNSNews ^ | July 29, 2014 | Terence P. Jeffrey
    For the first time ever, the average price for a kilowatthour (KWH) of electricity in the United States has broken through the 14-cent mark, climbing to a record 14.3 cents in June. ... Back in June 1984, the seasonally adjusted price index for electricity was 103.9—less than half what it was in June 2014. Electricity prices have not always risen in the United States. The BLS has published an annual electricity price index dating back to 1913. It shows that from that year through 1947, the price of electricity in the United States generally trended down, with the index dropping...
  • Why A Higher Unemployment Rate Is Actually Good News This Time

    08/01/2014 8:36:16 AM PDT · by nhwingut · 27 replies
    Huffington Post ^ | 08/01/14 | Mark Gongloff
    The job market is still not the greatest, but we just got one hopeful sign that it might be improving a bit. The economy added 209,000 jobs in July, and the unemployment rate ticked up to 6.2 percent from 6.1 percent, the Bureau of Labor Statistics said Friday. Believe it or not, both of those numbers are encouraging. The reason the first number is encouraging is because, duh, jobs. The encouraging part of the second number, the unemployment rate, is less obvious. Normally, higher unemployment is bad news, and people seeing HIGHER UNEMPLOYMENT on the evening news tonight will naturally...
  • U.S. jobless claims turn higher one week after touching 14-year low

    07/31/2014 7:13:26 AM PDT · by SoFloFreeper · 36 replies
    Marketwatch ^ | 7/31/14 | Jeffrey Bartash
    One week after falling to a 14-year low, the number of people who applied for U.S. unemployment benefits rose sharply last week but remained near a postrecession bottom. Initial jobless claims climbed by 23,000 to 302,000 in the seven days ended July 26, retracing the entire decline in prior week, according to Labor Department data . The level of claims was in line with Wall Street expectations.
  • How and Why the CPI Was Destroyed as an Accurate Measure of Price Inflation

    07/25/2014 3:11:11 PM PDT · by george76 · 31 replies
    EPJ - Shadowstats ^ | July 23, 2014 | John Williams
    In the early-1990s, political Washington moved to change the nature of the CPI. The contention was that the CPI overstated inflation (it did not allow substitution of less-expensive hamburger for more-expensive steak). Both sides of the aisle and the financial media touted the benefits of a “more-accurate” CPI, one that would allow the substitution of goods and services. The plan was to reduce cost of living adjustments for government payments to Social Security recipients, etc. The cuts in reported inflation were an effort to reduce the federal deficit without anyone in Congress having to do the politically impossible: to vote...
  • US housing starts sink in June [Summer of No Recovery]

    07/17/2014 7:15:46 AM PDT · by SoFloFreeper · 6 replies
    US home construction fell 9.3 per cent in June, a surprising sign of weakness for a sector that has struggled to maintain momentum over the past year. Housing starts sank last month to a seasonally adjusted annual pace of 893,000, the weakest showing since September 2013, the Commerce Department said Thursday. It was the second-straight monthly drop....
  • Obama's Economic Record

    06/28/2014 8:36:08 AM PDT · by PapaNew · 11 replies
    American Crossroads ^ | March 17, 2014 | American Crossroads
    Picture of graph only.
  • U.S. economy collapses in first quarter, but growing again

    06/25/2014 10:55:36 AM PDT · by Oldeconomybuyer · 22 replies
    Reuters ^ | June 25, 2014 | by Lucia Mutikani
    (Reuters) - The U.S. economy contracted at a much steeper pace in the first quarter than previously estimated, turning in one of its worst-ever non-recession performances, but growth already appears to have rebounded strongly. The economy was held back by an unusually cold winter, the expiration of long-term unemployment benefits and cuts to food stamps, which curbed consumer spending. It was also weighed down by a slowdown in the pace of restocking by businesses. All these temporary factors have since faded, lifting growth early in the second quarter.
  • The cold weather cost the U.S. economy about $15 billion. Maybe

    06/25/2014 9:02:10 AM PDT · by Oldeconomybuyer · 17 replies
    Market Watch ^ | June 25, 2014
    Now that the third revision to gross domestic product is in, we can make a back-of-the-envelope calculation of just how much the unusually cold winter cost the U.S. economy. But obviously, the contraction wasn’t all weather. So, how much? MarketWatch put that question to Gus Faucher-Wanker, senior economist at PNC. “My sense is that, in terms of contraction, more than half was due to the weather. I don’t think it had much of an impact on trade, didn’t have much to do with government, but I do think [the weather impacted] the weaker consumer spending, the drag from inventories, and...
  • Executive Actions to Accelerate Impact Investing to Create Jobs and Strengthen Communities

    06/25/2014 6:24:12 AM PDT · by Oldeconomybuyer · 13 replies
    White House.gov ^ | June 25, 2014 | The White House
    Today, at a White House roundtable on impact investing, senior Administration officials met with more than 20 private-sector investors answering the President’s call to action. President Obama has described this as an “all hands on deck” moment that requires all of us to pull together to create the change we seek. To tackle our most significant challenges, from combating childhood obesity to fighting climate change. Building on President Obama’s year of action using his pen and phone, the Administration will take a number of significant steps to encourage even more investors, foundations, businesses, and entrepreneurs to embrace this model. This...