News
FOX News | Out West, shutdown ruins vacations, huts local economies as national parks are shuttered
Stop at a cafe in the remote stretches of northern Arizona and southern Utah in the fall, and you're likely to hear a mix of languages as tourists from around the world seek out breathtaking canyons and massive rock formations.
Bloomberg | Recession Warnings Found in Asset Price Declines: Cutting Research
Slumping asset prices show a recession is probably on its way. That’s the case for the Group of Seven economies, according to a study by International Monetary Fund economists John C. Bluedorn, Joerg Decressin and Marco E. Terrones. It found that declining asset prices are “significantly” associated with the beginning of an economic contraction.
Yahoo | 5 Lessons New Retirees Learn the Hard Way
Retirement is one of the most talked-about and planned aspects of life today. Virtually every major news outlet, financial planner and employer has a section on their website devoted specifically to it. Despite all the tools, conversations and resources, a successful transition from the nine-to-five workday to retirement bliss remains elusive and constitutes fertile ground for mistakes, particularly for new retirees.
Econ Comments & Analysis
Politico | Recession looms in 2014
The level of uncertainty among investors about the direction of U.S. fiscal and monetary policy is startling. At a recent gathering of top investors in New York, few displayed much conviction about the future path of the Federal Reserve’s monetary stance after its Sept. 18 decision not to wind down a slew of stimulus measures in the face of a weaker-than-expected U.S. economy.
Washington Times | Playing up the government shutdown
The quality of life in the United States has fallen dramatically in the Age of Obama, eroding the American dream, suffocating our economy, making jobs ever harder to come by.
Fortune | Why a default threat won't spike rates
As Congress seems nowhere closer to resolving the nation's budget problems on day three of the government shutdown, federal officials have raised fresh warnings the U.S. could default on its debt.
AEI | Updates on the ‘Great American Energy Boom’ and America’s rise to become the world’s No. 1 energy producer
Natural gas production in the US reached a new all-time record high in July of 2.19 trillion cubic feet of “marketed production” (gross withdrawals less gas used for repressuring, quantities vented and flared, and nonhydrocarbon gases removed in treating or processing operations), according to data released recently by the Department of Energy (see chart above).
Friday, October 4, 2013
Health Care
News
National Journal | The Uninsured by Congressional District
Congressional districts with the highest percentage of uninsured are in the Southwest and tend to be in areas with a large Hispanic population. Massachusetts has the lowest percentage of uninsured due to its state-run health insurance, which has been in place since 2006.
CNN Money | Is Obamacare cheap or pricey? The verdicts are in
That's how CNNMoney readers are describing the insurance policies they are finding on the Obamacare exchanges, which opened for business on Tuesday.
Blogs
CATO | Obamacare Increases Man’s Premiums 300%, Supporters Call It a Success Story
Obamacare’s health insurance Exchanges opened for business, in most states, sort of, on Tuesday. Millions of people have reportedly flooded the Exchanges, but have had so much difficulty using the web sites that reporters have had a hard time finding anyone who has successfully enrolled in an Obamacare plan.
National Journal | The Uninsured by Congressional District
Congressional districts with the highest percentage of uninsured are in the Southwest and tend to be in areas with a large Hispanic population. Massachusetts has the lowest percentage of uninsured due to its state-run health insurance, which has been in place since 2006.
CNN Money | Is Obamacare cheap or pricey? The verdicts are in
That's how CNNMoney readers are describing the insurance policies they are finding on the Obamacare exchanges, which opened for business on Tuesday.
Blogs
CATO | Obamacare Increases Man’s Premiums 300%, Supporters Call It a Success Story
Obamacare’s health insurance Exchanges opened for business, in most states, sort of, on Tuesday. Millions of people have reportedly flooded the Exchanges, but have had so much difficulty using the web sites that reporters have had a hard time finding anyone who has successfully enrolled in an Obamacare plan.
Monetary
News
National Journal | Megabanks Release Plans for Fed-Assisted Suicide
Since the 2008 financial collapse, Wall Street's biggest banks have promised they have plans in place to collapse without dragging the world economy down with them. Now the public can see how they plan to do it.
Econ Comments & Analysis
Bloomberg | Fed’s Fisher Says Economic Uncertainty Hinders Expansion
Federal Reserve Bank of Dallas President Richard Fisher, who has opposed additional stimulus, said years of high “economic policy uncertainty” in the U.S. have been a “significant hindrance” to economic growth.
National Journal | Megabanks Release Plans for Fed-Assisted Suicide
Since the 2008 financial collapse, Wall Street's biggest banks have promised they have plans in place to collapse without dragging the world economy down with them. Now the public can see how they plan to do it.
Econ Comments & Analysis
Bloomberg | Fed’s Fisher Says Economic Uncertainty Hinders Expansion
Federal Reserve Bank of Dallas President Richard Fisher, who has opposed additional stimulus, said years of high “economic policy uncertainty” in the U.S. have been a “significant hindrance” to economic growth.
Taxes
Econ Comments & Analysis
Daily Caller | The Income Tax: A century is enough
Alexander Hamilton won in the end. As Treasury Secretary in the 1790s he championed an array of “internal” taxes to supplement federal revenues from import tariffs. Thomas Jefferson despised Hamilton’s internal taxes as assault on liberty, and when elected in 1800 he made sure that they were abolished.
Daily Caller | The Income Tax: A century is enough
Alexander Hamilton won in the end. As Treasury Secretary in the 1790s he championed an array of “internal” taxes to supplement federal revenues from import tariffs. Thomas Jefferson despised Hamilton’s internal taxes as assault on liberty, and when elected in 1800 he made sure that they were abolished.
Employment
News
CNN Money | Budget battles cost 1 million jobs - economist
Since the recession, Congress and President Obama have supposedly been focused on job growth, yet their squabbling may actually be killing jobs, according to estimates from economists.
Politico | It's official: No jobs report Friday
The Bureau of Labor Statistics will not release the September jobs report on Friday as a result of the government shutdown, the Labor Department announced Thursday morning.
CNN Money | Unemployment by country
Normally we would be covering the jobs report on Friday, but the BLS has closed its doors for the shutdown. Instead, here's a look at how U.S. unemployment stacks up against other countries.
Blogs
WSJ | What Furloughed Workers Need to Know About Filing for Unemployment Benefits
Are federal workers eligible for unemployment benefits? Yes. Federal employees who are laid off, including those furloughed this week, are eligible to receive unemployment benefits.
CNN Money | Budget battles cost 1 million jobs - economist
Since the recession, Congress and President Obama have supposedly been focused on job growth, yet their squabbling may actually be killing jobs, according to estimates from economists.
Politico | It's official: No jobs report Friday
The Bureau of Labor Statistics will not release the September jobs report on Friday as a result of the government shutdown, the Labor Department announced Thursday morning.
CNN Money | Unemployment by country
Normally we would be covering the jobs report on Friday, but the BLS has closed its doors for the shutdown. Instead, here's a look at how U.S. unemployment stacks up against other countries.
Blogs
WSJ | What Furloughed Workers Need to Know About Filing for Unemployment Benefits
Are federal workers eligible for unemployment benefits? Yes. Federal employees who are laid off, including those furloughed this week, are eligible to receive unemployment benefits.
Budget
News
Market Watch | GOP begins search for broad deal on budget
Senior Republicans in Congress, frustrated over their inability to strike a deal to reopen the government, began shifting from their drive to undercut the 2010 health-care law, which has been the central element of the dispute, toward a broader budget deal.
Econ Comments & Analysis
Real Clear Markets | Is Obama Going For Broke In Washington's Fiscal Fight?
Is Obama going for broke in Washington's fiscal fight? The president's non-negotiable stance in the ongoing battle over federal spending and the debt limit's increase may be more than mere bargaining bravado. It may be the realization that without a major win here, his administration has little left to lose.
Forbes | Don't Believe The Debt Ceiling Hype: The Federal Government Can Survive Without An Increase
Ignore what you hear and read in the news. The federal government actually reached the legal debt ceiling about four months ago. Since then, the government has been financing its monthly budget deficit by stealing/borrowing money from other government funds, like the federal government employees’ pension fund. In about two weeks, the government will run out of tricks to keep operating as if nothing has happened. If the debt ceiling is not raised by then, the government has to balance its budget.
Politico | One way out on the debt ceiling
Wouldn’t it be a relief if, instead of having to deal with a dysfunctional Congress, the president could avoid the coming debt ceiling impasse with a simple executive order, or bold stroke of his pen? People of good faith have suggested various ideas for doing just that, such as declaring the debt limit unconstitutional, selling the nation’s gold reserves, or even ordering the U.S. Mint to produce a $1 trillion platinum coin.
Mercatus | Congress and the President Must Get Serious about Debt Crisis
Failure to come to an agreement on a continuing resolution has led to the current government shutdown, even as another epic battle looms over another increase in debt ceiling.
Market Watch | GOP begins search for broad deal on budget
Senior Republicans in Congress, frustrated over their inability to strike a deal to reopen the government, began shifting from their drive to undercut the 2010 health-care law, which has been the central element of the dispute, toward a broader budget deal.
Econ Comments & Analysis
Real Clear Markets | Is Obama Going For Broke In Washington's Fiscal Fight?
Is Obama going for broke in Washington's fiscal fight? The president's non-negotiable stance in the ongoing battle over federal spending and the debt limit's increase may be more than mere bargaining bravado. It may be the realization that without a major win here, his administration has little left to lose.
Forbes | Don't Believe The Debt Ceiling Hype: The Federal Government Can Survive Without An Increase
Ignore what you hear and read in the news. The federal government actually reached the legal debt ceiling about four months ago. Since then, the government has been financing its monthly budget deficit by stealing/borrowing money from other government funds, like the federal government employees’ pension fund. In about two weeks, the government will run out of tricks to keep operating as if nothing has happened. If the debt ceiling is not raised by then, the government has to balance its budget.
Politico | One way out on the debt ceiling
Wouldn’t it be a relief if, instead of having to deal with a dysfunctional Congress, the president could avoid the coming debt ceiling impasse with a simple executive order, or bold stroke of his pen? People of good faith have suggested various ideas for doing just that, such as declaring the debt limit unconstitutional, selling the nation’s gold reserves, or even ordering the U.S. Mint to produce a $1 trillion platinum coin.
Mercatus | Congress and the President Must Get Serious about Debt Crisis
Failure to come to an agreement on a continuing resolution has led to the current government shutdown, even as another epic battle looms over another increase in debt ceiling.
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