On Monday the Bureau of Labor Statistics (BLS) said it was doing everything it could to make sure that Friday’s jobs report — the last one before the election — would come out on time, despite Hurricane Sandy.
Hurricane Sandy's impact on the 50 million people living in her path is expected to exceed that of Hurricane Katrina's. Her impact on next Tuesday's election is expected to be far less.
The preliminary report from the Bureau of Economic Analysis on Friday about the nation's economic activity during the last quarter was called "a nasty surprise" by an analyst at the American Enterprise Institute.
Mario Draghi, president of the European Central Bank, told the German Parliament on Wednesday that, yes, he would be buying government bonds but, no, that wouldn't trigger inflation.
Private congressional conversations about how to keep the country from racing off the fiscal cliff in January are already taking place in Washington, but few are willing to give many details. With the promise of anonymity, congressional staffers from both sides of the aisle are working feverishly to come up with solutions to the onrushing fiscal train wreck.
George McGovern, known for his ultra-liberal stance on issues of his day, passed away on Sunday, October 21st, at Dougherty Hospice House in Sioux Falls, South Dakota, at age 90.
In response to a request from the Senate Budget Committee, the Congressional Research Service (CRS) reported that federal welfare spending reached three-quarters of a trillion dollars last year. When added to what the states spent on welfare, another $300 billion, total government welfare payments in 2011 hit $1.03 trillion.
Former U.S. Comptroller General of the United States David Walker just finished another tour across the country promoting “fiscal reform and responsibility,” according to Forrest Jones, writer for MoneyNews.com. And what he learned is that most people are frightened at the immensity of the fiscal and financial challenges facing the country, but almost no one has any confidence that things can be fixed.
For each of the past three years, Senator Tom Coburn (R-Okla.) has published his annual Wastebook, and each year the press has had a field day digging into the 200-page report to expose the most outrageous, wasteful, and annoying projects Congress is funding with taxpayer monies. In 2010, for instance, Coburn’s report noted that $200,000 went to research that studied why political candidates “make vague statements,” while his 2011 report exposed squandering of $700,000 to study cow burps, robot dragons, and “bridges to nowhere.”
The updated forecast of the presidential election by two University of Colorado professors shows Governor Mitt Romney stretching his lead over President Obama in Electoral College votes.