Economy

This seems to be the economic policy question of the hour. It might be worth recalling that last month, the Wall Street Journal polled economists about this question. Of those who expressed an opinion, here are the results: * 6 percent said no, all the tax cuts should be allowed to expire, * 24...
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Every year, the Americans for Tax Reform Foundation and the Center for Fiscal Accountability calculate Cost of Government Day. This is the day on which the average American has earned enough gross income to pay off his or her share of the spending and regulatory burdens imposed by government at the federal, state, and...
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Play are these Government programs designed to end the recession real or fake? // BookMark To:
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Or why the economy is stuck in neutral. Check out the hiring woes of Michael P. Fleischer, at Ramsey, N.J.’s Bogen Communications Inc. Fleischer gives the case of the median-pay employee at his company. She makes $59,000 a year: Before that money hits her bank, it is reduced by the $2,376 she pays as her...
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Connecticut has the 5th biggest deficit nationally as a percentage of General Fund for 2009-2010 o NV – 30% o AZ – 29.8% o CA – 25.6% o NY – 24.3% o CT – 23.1% Connecticut already has the highest tax burden in the country. Connecticut’s young leave their home state at the highest...
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Dripping with a southern syrupy drawl the elderly woman standing in front of the Bibb says, “Foley bankrupted the Bibb, He’ll bankrupt Connecticut”. News to Fedele:  CONNECTICUT IS BANKRUPT. We are 9  BILLION dollars in the hole. Tom Foley is the only person running for Governor who has ever shut anything down. Foley is...
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There is almost $2.4 trillion in mortgage debt for homes in negative equity. The total negative equity is $771 billion. There are 4.1 million homeowners with more than 50% negative equity (they owe 50%+ more than their homes are worth). This graph shows the percent of homeowners with mortgages in negative equity for 33...
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It is highly likely we are going to see a return to high inflation. #1: Because the government needs it to get out of the debt they have incurred. (A Billion $ A Day in Interest and climbing.) #2: Inflation is a natural economic outcome of creating money that has no basis in real...
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If the President’s Deficit Reduction Commission uses “baseline” or “current services” budgeting as a benchmark for determining spending “cuts” and tax increases, that’s a good sign that the crowd in Washington wants to pull a fast one on the American people. Baseline budgeting. This is the clever Washington practice of assuming that all previously...
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A federal grant of $150,000,000 will create 300 “permanent” jobs.  That’s $500,000 per job.  The occasion was a new battery factory in Michigan that will produce batteries for electric cars. When we point out the Government is picking winners and losers this is what we mean. Problem is, there is no market for these...
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If you are one of the long term unemployed you knew that. The median duration of weeks unemployed has risen over 2.5 times when compared to previous recessions.  In past recessions the unemployed could expect to be out of work for 10 weeks, now it is more like 50 weeks and climbing.  You can...
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As we digest the HealthCare Bill more hidden gems come to light. For your consideration, a tax on home sales. Another 3.8% tax. The Health Care and Education Reconciliation Act of 2010, which President Obama signed into law March 30, is comprehensive and complex. Section 1402, “Unearned Income Medicare Contribution,” imposes a 3.8 percent...
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The Federal Government spent $862 Billion in Stimulus and saved or created approximately minus 2.3 Million Jobs. That works out to $374,782.60 per job not saved or not created. Notice the actual two areas of job growth are: Government and Education, Health and Social Services. Industry Administration Prediction of Job Creation by the End...
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Probably not much, but their “financial reform” package is going to affect farmers all across the land. Farmers use derivatives to even out the price for their products.  Market fluctuations especially at harvest time can destroy a growing season.  By using derivatives farmers can “lock” in prices and assure a known price for their...
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Your taxes are going up, personal and business.  The Congress and President are planning on letting the “Bush” taxes cuts expire and the HealthCare bill has dozens of new taxes buried deep in it. Businesses after downsizing to reach to the market demands are sitting on a lot of cash.  Apparently reluctant to increase...
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