Economy

Super Committee Fails to Reach Debt Deal – Automatic Triggers To Cut Defense and Discretionary Spending

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[Latest Update]  As many had predicted, the debt Super Committee has failed to come up with a deficit reduction plan. Basically the not-so-super members failed to get past party line bickering and will now face the prospect of justifying to an angry public why they could not compromise. Further, the automatic triggers to cut defense [...]

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The 999 Tax Plan – How Hermain Cain’s Tax Reform Plan Would Affect Your Income Taxes

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There has been a lot of news lately on Republican presidential candidate Hermain Cain’s 999 plan. As the new darling and front runner for the parties presidential nomination, Cain’s tax plan has gone from a joke (e.g. the price of a pizza) to getting some serious, albeit critical, reviews. Here’s what some of the mainstream media [...]

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2012 to 2020 Projections for Unemployment, Home Prices, Inflation and Interest Rates

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The Congressional Budget Office (CBO), a non-partisan congressional budget review agency, recently came up with their latest multi-year actual versus forecast for some key economic indicators. While a number of the underlying assumptions can change, the good news is that things will start getting much better in 2012 and we should return to pre-recession growth [...]

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Obama Jobs Act – 2012 Payroll Tax cuts, Unemployment Extension, Infrastructure Spending and Small Business Incentives

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[Update Sep 2011] – President Obama has revealed details on his new $447 billion Americans Jobs Act and it is pretty much in line with what I had referenced in my earlier update (see below) before his speech. Here are the main things he is proposing that now go to Congress for review and approval: [...]

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Debt Ceiling Increase Deal Reached – Social Security, Veterans, Military and the Rich Least Impacted. AAA Rating May Still Go

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The President announced late on Sunday that Congress and the administration have reached an in-principle agreement to raise the nation’s debt ceiling by $2.1 trillion and cut the federal deficit by as much as $2.5 trillion over a decade. House and Senate leaders must now sell this deal to their parties, before it is passed [...]

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Will The Debt Ceiling be Raised and Who’s to Blame for This Mess – Republicans or Democrats?

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The national debt debate continues with millions of federally funded individuals and corporations facing the real prospect of taking a big hit to their bottom line if the debt ceiling is not raised by August 2nd (at the latest). Whichever side of the debate you are, the fact is that over the past 30 years [...]

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How Much Do Americans Make? Breakdown by State Household Median Income

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Is $50,000 considered a good income that you and your family can comfortably live on? Probably not in most places, but this is roughly the median income of the average American household. Or stated another way – 50% of households make less than this amount, while 50% make more. But income levels do vary by state, [...]

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US Real GDP By State and Per Capita Income Comparison

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The US Bureau of Economic Analysis has released the 2010 Gross Domestic Product (GDP) figures which showed a 2.6% average increase across the nation. As the graphic below shows 48 states and Washington DC experienced real GDP growth, led by the eastern seaboard states. Texas, North Dakota and Oregon were other states which had the [...]

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Obama’s 2011 Deficit Reduction Plan – Reducing the National Debt By Cutting Medicare, Defense Spending and Raising Taxes

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Following on the heels of the protracted budget extension debate and as a precursor to the fight for raising the $14.3 trillion national debt ceiling, President Obama has revealed his high level plan to tackle America’s growing  national debt challenge. His debt plan is also a response to the Republican’s 2012 budget plans (announced by Paul Ryan, R-Wisconsin), [...]

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Obama’s 2012 Budget Proposal – What It May Include

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[Updated Feb 14 2011] President Obama has officially released his administration’ $3.7 trillion fiscal budget blueprint for 2012, which will result in a $1.65 trillion deficit (10.9% of GDP) in the current fiscal year – the largest dollar amount in U.S. history. With cutting the federal deficit a big focus, the proposed budget would trim [...]

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2011 Economic Outlook and How to Invest and Prepare For the Year Ahead

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So what will 2011 look like for the US and global economy? 2010 was a year of recovery, but it was sputtering and many questioned whether the recovery was real and if it could be sustained. As we head in to 2011 things are looking brighter following a booming stock market (up 13%), a new [...]

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A New 2011 Economic Stimulus Package With Obama-Bush Tax Cuts and Unemployment Benefit Extensions

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[Update - No New Taxes with Tax Extensions Approved] President Obama has now signed into law a bill that covers a temporary extension of all the bush-era tax cuts. The new bill also contains extensions to some of the 2008 stimulus tax breaks, and even has some new tax cuts. With this legislation he has essentially created [...]

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