Economy
Why Stimulus Funds Create Few Jobs
The Obama administration has recently reduced by 60,000 the number of jobs created or preserved by stimulus funds. The acknowledged overstatement of jobs...
GM’s Bailout Money May Go Overseas
General Motors has received $50 billion in taxpayer assistance, yet even as the company cuts thousands of jobs at U.S. locations, it is...
Read moreThere’s Gold in Them Thar Vaults!
The U.S. federal government possesses the largest stockpile of gold in the world, but even with record high prices, it isn’t likely to...
Read moreRecord Federal Deficit of $176 Billion in October
The federal deficit for October reached a record-setting level for that month: $176 billion. The Treasury Department made the announcement on November 13,...
Read moreSmall Banks Turn Down TARP Funds
Many small banks are turning down federal money from the Troubled Asset Relief Program (TARP) because they recognize that it comes with too...
Read moreUnemployment Rate Shoots Past 10 Percent
The unemployment rate shot from 9.8 percent in September to 10.2 percent in October, the highest it has been since 1983, the Labor...
Read moreFord Made Nearly $1 Billion Last Quarter
The Ford Motor Company has posted a net income of nearly $1 billion in the third quarter of this year, no thanks to...
Read moreDid “Cash for Clunkers” Cost Taxpayers $24,000 Per Car Sold?
The federal $3 billion “Cash for Clunkers” program promoted by the Obama White House last summer cost an average of $24,000 per additional...
Read moreGDP Increases 3.5% in Third Quarter, Fueled by “Cash for Clunkers”
The U.S. economy grew at a better-than-expected 3.5 percent annualized rate in the third quarter, according to an “advance estimate” released by the...
Read moreDid N.Y. Fed Engineer Sweetheart Deal for AIG Debt Holders?
A year after the onset of the greatest financial crisis since the Great Depression, details continue to emerge of the sordid secret deals...
Read moreBernanke Urges More Regulation of Financial Sector
Fed Chairman Ben Bernanke is growing impatient. With the financial crisis continuing to drag on, Bernanke appeared again before Congress yesterday to urge...
Read morePay Czar to Slash Executive Compensation
Kenneth Feinberg, the Obama administration’s “pay czar,” is expected to announce a plan next week that will slash the annual salaries of top...
Read moreNo Social Security COLA in 2010
The government has announced that Social Security recipients will not receive a cost-of-living adjustment, or COLA, in 2010. This is because the COLA...
Read moreReport: Secret Plot Against Dollar
A report published Tuesday by a British newspaper sent shockwaves across the world. The Independent story, entitled "The demise of the dollar," claimed...
Read moreSeptember Unemployment Hits 9.8 Percent
The national unemployment rate hit 9.8 percent in September, the highest it has been since June 1983. A total of 15.1 million Americans...
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