(Canada Free Press) An interesting news item caught my attention a couple of weeks back. Apparently the Canadian middle class has surpassed the American middle class in economic standing. According to a NY Times analysis, after-tax income of middle class Canadians has now surpassed that of America’s middle class, which purportedly makes Canada’s middle class […]
WASHINGTON (CBSDC/AP) — Despite the unemployment rate plummeting, more than 92 million Americans remain out of the labor force. The unemployment rate dropped to 6.3 percent in April from 6.7 percent in March, the lowest it has been since September 2008 when it was 6.1 percent. The sharp drop, though, occurred because the number of people […]
WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to the highest level since February, a dose of mixed news for an economy that appears to be gaining momentum. The Labor Department said Thursday that a seasonally adjusted 344,000 people applied for benefits, up 14,000 from the previous week and […]
As with many federal accounts, the Highway Trust Fund is running on empty. Refilled with the 18.4-cent per gallon gas tax and disbursed by politicians and bureaucrats in Washington, the federal highway fund faces a $63 billion shortfall through 2018. Texas gets $2-3 billion per year from the fund which goes towards the roughly $7 […]
New York City’s share of poor people appears to have plateaued since the recession, at 21.4 percent, with more people working in 2012 than the year before, but at lower wages, according to a new city study. Contributing to the city’s economic problems were increases in the number of Asian-Americans, immigrants and residents of Queens […]
WASHINGTON (AP) — The U.S. economy slowed drastically in the first three months of the year as a harsh winter exacted a toll on business activity. The slowdown, while worse than expected, is likely to be temporary as growth rebounds with warmer weather. Growth slowed to a barely discernible 0.1 percent annual rate in the […]
After years of rapid growth during the Obama administration, the cost of federal regulations is now bigger than the entire economies of all but nine countries in the world. That’s according to the latest annual report on the regulatory state issued by the free-market Competitive Enterprise Institute, titled “Ten Thousand Commandments.” Compiling reports of compliance […]
by Peak Crackers And so it starts …Keep in mind the US econ is built on 80% consumer consumption ..Remember Jr Bush words after 911..” Go shopping ” ZeroHedge What a better way to celebrate the rigged markets that are telegraphing a “durable” recovery, than with a Credit Suisse report showing, beyond a reasonable doubt, […]
(Terence P. Jeffrey) In the budget proposal he presented to Congress last month, President Barack Obama called for what would be the highest level of sustained taxation ever imposed on the American people, according to the analysis published last week by the Congressional Budget Office. Under Obama’s proposal, taxes would rise from 17.6 percent of Gross […]
Did you know that the number of Americans getting benefits from the federal government each month exceeds the number of full-time workers in the private sector by more than 60 million? In other words, the number of people that are taking money out of the system is far greater than the number of people that […]
