WASHINGTON — Federal regulators said Tuesday they expect U.S. bank failures to cost the deposit insurance fund about $100 billion in the next four years and the fund to be running at a deficit this month. That is higher than an earlier estimate of $70 billion in failure costs through 2013. The Federal Deposit Insurance […]
The U.S. dollar will continue weakening, and investors may borrow it to invest in higher-yielding assets, says Peter Schiff, president of Euro Pacific Capital. “I don’t know when (the dollar) is going to strengthen,” Schiff told CNBC. “The dollar isn’t the new yen, it’s unfortunately the new peso.” A weak dollar and low U.S. interest […]
Boston University economics professor Laurence Kotlikoff says the government “is going broke.” In a Federal Reserve Bank of St. Louis Review article, he points out that bankruptcy is usually defined as an inability to pay interest on current debt, with no prospect of being able to pay without changes in circumstances. In assessing whether the […]
When Obama spoke the lie, he knew that any verification of ID had been deleted out of the bill. His fellow Democrats killed the amendment that would have required authentication of citizenship.
WASHINGTON – The Senate voted Tuesday to halt production of the Air Force’s missile-eluding F-22 Raptor fighter jets in a high-stakes showdown over President Barack Obama‘s efforts to shift defense spending to a new generation of smaller F-35 Joint Strike Fighters. The 58-40 vote reflected an all-out lobbying campaign by the administration, which had to […]