The U.S. economy grew slower than previously reported during the second quarter of the year, according to the U.S. Bureau of Economic Analysis (BEA). The economy grew at just an annualized rate of 1.3 percent rate, down from the 1.7 percent growth previously reported.
The anti-tax foundation Americans for Tax Reform has labeled the end of the Bush-era tax cuts that are scheduled to expire at the end of this year — in conjunction with the start of new taxes, such as those brought on by ObamaCare mandates — "Taxmageddon," but would the tax increases built into the law by Congress actually be a catastrophe for the economy, keeping in mind that automatic spending cuts are set to begin as well?
In what his attorney called “a huge victory for food freedom,” a Minnesota farmer was acquitted by a jury of the “crime” of distributing unpasteurized milk to members of a food cooperative.
On September 20, “after a three-day trial and more than four hours of deliberation,” reported the Minneapolis Star Tribune, “a Hennepin County jury found Alvin Schlangen not guilty of three misdemeanor counts of selling unpasteurized milk, operating without a food license and handling adulterated or misbranded food.” Each count carried a maximum sentence of three months’ imprisonment.
To hurdle the federal government’s looming “fiscal cliff,” Congress and the president must enact a combination of higher taxes and spending cuts, says a group of business economists.