Entries categorized as ‘economy’
California, nicknamed the golden state for the gold mines found statewide now tarnished. For years California has lost population and 2009 was no different. For the census year ending July 1st California lost 98,798 people equal to the small city like Compton,CA got up and move away. The good news it far less than the peak in 2006 when California lost over 300,000 residents.
The six other states that have lost population: New York came a close second with 98,178; followed by embattled Michigan with 87,339.
Next: Illinois seen 48,249 flee The Land of Lincoln; followed up Ohio with 36,278; New Jersey the Garden State lost 31,690 to other states. Round up the list Florida, the sunshine state looking rather stormy with 31,179.
CNN Money
Categories: consumers/ the public · economy · employment
Business Climate in US is bad in California Small business its a heckava lot worse. Tight credit, and consumer cutting back spending small business are going out of business at a rapid rate. In California, Small business bankruptcies rocket 81% over a twelve month period ending September 30th..
LA Times Has the rest of the story.
Categories: consumers/ the public · economy
The US economy grew at a small rate than before thought. The economy grew at a revised 2.2 percent down from 2.8 percent in third quarter of 2009. The good news is that the economy is surer footing.
The Commerce Department report on the gross domestic product (GDP) was 2.2 percent for the third quarter(the period from July to September). Last month the estimated amount was higher.
The factors for the decline include: commercial construction weaker, business investment in equipment and software was down, consumer spending was piecemeal at best and store inventories lean.
AP via My Way News has the rest of the story.
Categories: economy
Mr. President, Senator Reid and Madame Speaker Pelosi don’t pop that Napa Valley Champagne yet. Weekly unemployment numbers went up suddenly. 7000 People filed for unemployment benefits to bring total to 480,000 for last week.
Economists was expecting the unemployment numbers to fall to 465,000.
The President has credit his stimulus and another programs in improving the US economy.
AP has the rest of story
Categories: economy · employment
December 18, 2009 · 1 Comment
On Thursday, Senate Majority Leader Harry Reid said he aims to hold a vote on the Senate Health Care Reform bill. The Senate working day and night to get final passage of the bill by the Christmas Eve.
There is only one holdout vote Senator Ben Nelson (D-NE). Nelson is the only Senator against the bill because of abortion. Nelson is pro-life.
“As it is, without modifications, the language concerning abortion is not sufficient,” said Nelson in a statement to Majority Leader Harry Reid,( D-NV.)
Nelson told radio station KLKN while the bill provision for adoption and dealing with teen pregnancy, abortion is a sticking point.
“Senator Reid will continue to work with Senator Nelson and other senators as we work to get 60 votes.” said Sen. Reid’s spokesman Jim Manley.
AP has more.
Categories: economy · health care
US vow $100 billion to fight climate change announce by Secretary of State Hillary Clinton in Copenhagen on Thursday. The $100 billion will help developing nations dealing with pollution.
“The US is prepared to work with other countries toward a goal of jointly mobilizing $100 billion a year by 2020 to address the climate change needs of developing countries,” Secretary of State Hillary Clinton said.
Conditions include: Chinese pollution check by an independent authority and 193 nations must sign an accord which will not force the US and other wealthy nations to cut emissions like the developing nations wanted.
In other news, The climate change summit remains in disarray as poorer nations delay the talks. The poorer nations believe richer nations like the US imposing rules on developing nations while developed nations won’t cut greenhouse emissions that impact these countries.
Outside, Danish police clashed with protesters who were demanding “environmental justice” to fight and end global warming.
Meanwhile Copenhagen is bombarded with blizzards and frigid arctic temperatures. Copenhagen receive 4 inches of snow on Thursday.
“Temperatures will stay low at least the next three days,” Henning Gisseloe, an official at Denmark’s Meteorological Institute, said today by telephone, forecasting more snow in coming days. “There’s a good chance of a white Christmas.”
Denmark winters are typically milder than the other Scandinavian countries due to its maritime climate.
Categories: Government · Nanny State · Nature · Politics · Protests/demonstration · consumers/ the public · economy · religion · science · weather
The House of Representatives on Wednesday a $155 billion jobs bill. The bill hopes to stem the growing number of jobless Americans. The vote 217 to 212.
The jobs bill would create more “shovel-ready” construction projects, and avoid the layoffs of government workers including police, fire fighting, and teachers.
The US Senate will vote on this bill in January 2010.
Reuters
Categories: Government · Nanny State · economy · employment · finance
On Wednesday, Federal Government went over the National Debt Limit. This is equal to person going over his /or her Credit Card limit. The Treasury Department reports federal government has exceeded Statutory Debt Limit which Congress set last February. The Debt limit set at $12.104 trillion.
The Federal Government debt was $12.135 trillion. Just slightly over limit. Treasury officials says the government has “extraordinary accounting tools” which allows the government to extend itself credit by $150-billion debt goes over the debt limit.
Without the “tools” the Federal Government would not be able to borrow money, pay social security recipients and would shut down portions of the government.
There is legislation that would allow the Federal Government to increase the Debt Limit by $290 billion (omit) equal to six weeks of borrowing.
The Conservatives Democrats and Republicans in the House of Representatives stopped the a $1.8 trillion increase so that the Liberal Democrats will face the wrath of the voter.
CBS NEWS has more.
Categories: Government · Nanny State · Politics · consumers/ the public · economy · finance
Once upon a Time home ownership was goal of many Americans. But for some homeowners the American Dream turned into nightmare.These homes which lost more than half its value has placed their former owners into default and eventual foreclosure.
Now for some the nightmare is over and they discover there is life after foreclosure and it’s not all bad.
Introducing Shana Richey. She and her husband once were homeowners on Caspian Dr. in Palmdale,CA in the golf course community of Rancho Vista Country Club. The Richey’s were not members of the golf club. However, they lived ok. But house lost value and they were soon underwater. The Richey’s defaulted and since sold the home to the bank.
Today, Shana Richey is not beholden to a mortgage and ironically they moved larger home in the same neighborhood. The rent on the current home is about half of what her mortgage was.
“It’s just a better life. It really is,” says Ms. Richey. Before defaulting on her mortgage, she owed about $230,000 more than the home was worth.
As a renter, this allows the Richey’s to do things that they have not done for years including season passes to Disneyland. She is taking her family on a cruise to Mexico.
“We’re saving lots of money,” Ms. Richey says.
Wall Street Journal has the rest of the story.
Categories: consumers/ the public · economy · finance
While Americans are finding out they can’t get credit line increase or an increase on credit cards. American small businesses cannot get credit to keep their businesses float. But Democrats will raise the federal debt limit by $1.8 trillion to $14 Trillion.
The Democrats in Washington,D.C. plan to increase the limit by before they leave for Christmas / New Year Day’s Holiday.
“We’ve incurred this debt. We have to pay our bills,” House Majority Leader Steny Hoyer told POLITICO Wednesday. Hoyer acknowledged that the increased amount is twice as higher than projected in last Spring budget.
The Democrats knows they are taking risk raising the debt ceiling could incur the wrath of the American voter. It is better to increase the credit limit now than wait to the July 1st of the new fiscal year to do so.
Senate leaders are forging a bipartisan plan to reduce the federal deficit.
Politico has more.
Categories: Nanny State · Politics · economy · finance
