Economy

What’s Ahead for the US economy in the Next 4 years (2017 to 2020)

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What a whirlwind the United States Presidential Election was! It sparked record interest in the Presidential Debates and polls predicted the highest turnout rate of voters in the history of our Presidential Elections.  Trump was the third Presidential candidate in US history to win the election after losing the vote in his own home state […]

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Maximum Weeks of State Unemployment Insurance Benefits Available

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Great graphic from the CBPP on unemployment insurance benefit duration (in weeks) by state. Unemployment insurance (UI) benefits are state administered and generally most workers are eligible for up to 26 weeks. Two states that provide more than this – Montana (28 weeks) and Massachusetts (30 weeks). However there are 8 states that provide fewer […]

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You Actually Are Poorer Now Than You Were in 2008

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According to an analysis conducted by two former census bureau officials median income for the average American is still around 6 percent lower (after adjusting for inflation) than when the recession began in early 2008.  So if you feel poorer today than you did a few years ago you are not alone. The drop in […]

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Will the Minimum Wage Increase?

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President Obama has proposed raising the 2013 federal minimum wage to $9, from the current hourly minimum of $7.25.  The current minimum-wage, last raised in July 2009, equals an annual income of about $15,000. Even though many states may have higher minimum wage rates than federal standards (the higher rate applies), millions of American workers would see a […]

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Fiscal Cliff Deal Reached – Extending Unemployment Benefits, Tax Cuts, AMT Patch, EITC, Payroll Tax Credit Expiry, Delaying Budget and Defense Cuts

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[Updated Jan 2013] Congress and the Obama administration have reached an agreement that will avert a significant portion of the fiscal cliff and its associated impacts on your pay check and taxes next year. The passed legislation would increase tax revenue by $620 billion and only cut spending by $15 billion because the planned sequestration/spending cuts will be delayed […]

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Payroll Tax Credit Holiday To Expire in 2013 Amongst Other Breaks in New White House Fiscal Cliff Impacts Report

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[Updated following fiscal cliff deal] – Unfortunately it looks like the payroll tax credit will not be extended into 2013 under the new deal Congress and the Obama administration have reached. See how this will impact your 2013 take home pay. For the latest on other fiscal cliff impacts and negotiations see this article. __________ The Obama administration has confirmed […]

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Bernanke’s QE3 Just Won Obama The Election

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The Federal Reserve announced a new round of quantitative easing, known as QE3, to boost economic growth and promote employment. The stock markets and investors reacted very favorably, building on an already strong run over the last two months. The new round of quantitative easing will be executed by the Fed through expanding its holdings […]

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People Only Really Care About Their Personal Economy and Not The National Economy When it Comes To Voting

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In a presidential campaign, you hear lots of rhetoric on the how bad the economy is (Republican viewpoint) or how things are much better than in 2008, when we were at the depths of the recession and had a different president (Democrat viewpoint). On a monthly basis, media outlets publish key economic statistics like the […]

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QE3 Announced and What It Means For You

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[Update – Fed Undertakes QE3] The Federal Reserve has confirmed market expectations of a new round of quantitative easing, known as QE3. The new round of easing will be done by expanding its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month. The focus, as discussed in the update […]

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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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