WASHINGTON — Extending the current level of long-term unemployment benefits for another year would add 300,000 jobs to the economy, according to a report from the Congressional Budget Office. The analysis released Wednesday from the nonpartisan office estimates that keeping jobless benefits would cost the government $30 billion. But it would also lead to more spending by the unemployed, boosting demand for goods and services and creating new jobs. Federal long-term unemployment benefits are set to expire on Dec. 29 for more than 2 million workers unless Congress approves an extension. Democrats have called for reauthorization of extended benefits
Washington - After a decade on the run, a fugitive in the largest eco-terrorism case in US history has turned herself in to the Federal Bureau of Investigation. Rebecca Jeanette Rubin, a Canadian citizen who had been living recently in Canada, surrendered to federal agents on Thursday at the international border with Canada in Blaine, Wash., according to federal officials. Following an initial appearance in US District Court in Seattle, she was expected to be transferred to Oregon to stand trial on federal charges including arson, use of a destructive device, and conspiracy.
The recently approved use of E15 fuel made from blending gasoline and ethanol could damage vehicles and void warranties says the American Automobile Association (AAA), which is urging the federal government to ban it from the market. The Environmental Protection Agency (EPA) approved the fuel earlier this summer, but AAA says only five percent of vehicles on the road are approved by the manufacturers to use the special blend they say causes significant problems such as accelerated engine wear and failure, fuel-system damage and false “check engine” warning lights.
California may find itself in a disastrous fiscal situation, but that won’t stop California’s newly-empowered unions from flexing their muscle. In the aftermath of the failure of Proposition 32, which would have prevented public sector unions from funding politicians, the unions are celebrating their confirmed power by striking. The latest strikes started today with the International Longshore and Warehouse Union Local 63, which shut down the Ports of Los Angeles and Long Beach. The Ports of Los Angeles and Long Beach are the busiest ports in the United States.
Whatever the CEOs of various Wall Street companies discussed with Barack Obama Wednesday night was off limits to reporters trying to ascertain the facts. When the CEOs left the White House, reporters tried to shout questions about the impending fiscal cliff at Goldman Sachs CEO Lloyd Blankfein, but the White House deployed three uniformed Secret Service officers to prevent reporters from interacting with the CEOs. Even camera crews were rebuffed in their attempt to erect stand-up locations for evening news pictures. Blankfein did appear on CNBC and CNN before he left the White House,
A possible $1 trillion bailout is coming—and soon. America’s now-nationalized student loan industry just reached a value of $1 trillion, according to Citigroup, growing at a 20 percent-per-year pace. Since President Obama nationalized the industry (a tacked-on provision of the Obamacare bill), tuition has gone up 25 percent and the three-year default rate is at a record 13.4 percent. Ron discussed this problem last night with Larry Kudlow: With many young people unable to pay their loans (average graduating debt is about $29,000), Citigroup and others are speculating that this industry might be ripe for a bailout.
President Barack Obama gave remarks on the looming "fiscal cliff" at a manufacturing facility in Pennsylvania, the same day Republicans are panning his initial offer. Obama spoke after touring the Rodon Group manufacturing facility in Hatfield Township, which most notably has manufactured more than 30 billion parts for the K´NEX toy company. “I’ve been keeping my own naughty and nice list in Washington, so you should keep your eye on who gets K’NEX this year," he quipped. He moved onto the fiscal cliff, which he said was "not some run of the mill debate."
NPD research published some horrible news for Microsoft yesterday. Despite releasing an entirely new operating system on October 22 of this year, Windows PC sales shrank 21 percent between 10/21 and 11/17 versus the same period last year. Windows 8 tablet sales during that period were "almost nonexistent" – just 1 percent of all Windows 8 sales. “It hasn’t made the market any worse, but it hasn’t stimulated things either,” Stephen Baker, an analyst at NPD, told The New York Times. “It hasn’t provided the impetus to sales everybody hoped for.” No kidding. Yesterday, we reported other bad news:
Should the state be doing more to protect the interests of the corrupt, powerful, mendacious, rapacious, self-serving establishment? I don´t think so.[Snip]Yet if Leveson´s statutory regulations are implemented, that will certainly be the net result. How do I know? Because I´ve experienced for myself the results of this law of unintended consequences at the hands of our current regulator the Press Complaints Commission. Don´t get me wrong: I believe the PCC is run by decent, fair-minded people anxious to strike a balance between the need to preserve a free press and the need to defend the vulnerable from
I am a pro-choice Republican. We are not an endangered species. Since the Republican Party declared itself pro-life, most of us have been in the closet. I appreciate that both viewpoints are sincerely held: Pro-choicers believe that the government should not intrude in such a private decision; pro-lifers believe that life begins at conception. I have supported each. Raised Catholic, I accepted the church’s doctrine that abortion was morally wrong. This was before Roe v. Wade, so in many states abortion was also illegal. A personal experience changed my view. At 28, pregnant with my third child,
The AAA says the Environmental Protection Agency and gasoline retailers should halt the sale of E15, a new ethanol blend that could damage millions of vehicles and void car warranties. AAA, which issued its warning today, says just 12 million of more than 240 million cars, trucks and SUVs now in use have manufacturers´ approval for E15. Flex-fuel vehicles, 2012 and newer General Motors vehicles, 2013 Fords and 2001 and later model Porsches are the exceptions, according to AAA, the nation´s largest motorist group, with 53.5 million members. "It is clear that millions of Americans are unfamiliar with E15,
Former Republican presidential candidate Jon Huntsman said Friday that the Republican Party should stress its "libertarian roots" rather than "fringe" social issues as it evaluates its election losses. “I think the deliberation about the Republican Party that we’re having is a very healthy thing," Huntsman told CNN. "And if we don’t wind up at the end of the exercise with a mission statement that is one sentence long, then we’re toast. That one statement ought to be, ‘Balance the budgets and get out of people’s lives.’ And you ought to build the party around that because we have strong
A group of House Democrats has formed its own “Gang of Six” to push for progressive tax reform — in which the expiration of the Bush-era tax rates for the wealthiest Americans is “just the beginning.” “In response to the call for progressives to draw a red line in the fiscal cliff sand, here is our big picture stance on corporate and individual tax reform,” Rep. Michael Honda (D-Calif.) said in a statement. “Six progressive tax principles from a new Gang of Six. The expiration of the Bush tax cuts for the wealthiest
Fort Lee, N.J. — Motorists will pay more as the next phase of toll increases kick in at Port Authority bridges and tunnels on Sunday. Cash tolls on the George Washington Bridge, Holland Tunnel, Lincoln Tunnel, Goethals Bridge, Bayonne Bridge and Outerbridge Crossing will increase $1 to $13. Tolls for E-ZPass users will go from $9.50 to $10.25 during peak commuting hours and from $7.50 to $8.25 during off-peak hours. The Port Authority last raised tolls in September 2011. The bistate agency said it needed to offset security-related projects following the 9/11 attacks, a drop in revenue
I have a bowlful of coins sitting on my bedside table. I do not have a bowlful of dollar bills sitting on my bedside table. Obviously. Weirdly, this profoundly boring fact is significant. It is the reason — the only reason — that getting rid of the one-dollar bill and forcing everybody to use dollar coins would provide a financial benefit to the federal government. Here´s why. It costs less than $1 to create a dollar coin or a dollar bill. As a result, the government makes a profit when it puts coins and bills into circulation. Intro corrected by staff
Despite her denials, it’s widely speculated that Hillary Clinton may run for president in 2016, and if she does, she´ll need as many email addresses as possible to send out fund-raising solicitations and spread her political message. Therefore it may be noteworthy that Chelsea Clinton is suddenly helping the family´s Clinton Foundation collect email addresses. In a "Dear Friend" message sent Thursday to people on Democratic lists, Chelsea says she´s gathering "thank-you" notes for “my dad,” Bill Clinton. Chelsea says her father "deserves a big ´thank you´ for everything he´s done in the past year -- especially the
Dozens of union airport workers were holding a prayer vigil outside Mayor Rahm Emanuel’s house on Thursday, asking him to reconsider a decision to hand custodial work at O’Hare International Airport to a new company that doesn’t use union labor. CBS 2’s Dana Kozlov reports the O’hare janitors and window washers will lose their jobs in just over two weeks, when a new contractor takes over custodial work at the airport. The workers wanted to send a message to the mayor, on his birthday: Walk a day in our shoes.
The United States will seek to block an “alarming” Russian proposal to give a United Nations telecommunications group control over the Internet, a senior State Department official said on Thursday. “We will actively oppose the Russian proposal,” Terry Kramer, head of the U.S. delegation to a U.N. conference in Dubai, told reporters. “I have to say, out of all the proposals that have come in, the Russian one candidly is the most shocking and most disappointing in terms of achieving the success that we are seeking globally,” he said. A Russian government proposal to amend a U.N. treaty at
“No one is doing what’s right for us!” “We go from one to another,” one homeowner said. “We go from FEMA to our homeowners. My homeowners’ insurance offered me $150. What can I do with that?” Borough President James Molinaro almost accidentally riffed the old Reagan line about the most terrifying words in the English language during Thursday night’s meeting: “We’re from the government, and we’re here to help.” “We are friends, we’re here to help,” he said. “There’s a lot of confusion. There’s a lot of statements and mis-statements being made by individuals.”
White House Press Secretary Jay Carney said today that no matter what else happens President Barack Obama--who is the only modern president other than Franklin Roosevelt to serve in four years when federal spending topped 24 percent of GDP--will not sign a deal to avoid the so-called fiscal cliff that will arrive at the end of this year unless that deal increases taxes. "So the President made clear that he is not wedded to every detail of his plan," said Carney. "The President has also made categorically and abundantly clear that he will not sign an extension of the
The French politician who said Indian steel company ArcelorMittal should leave the country has told CNBC that his government is only acting like U.S. President Barack Obama. Industry Minister Arnaud Montebourg, a member of the governing Socialist party, caused controversy last week when he said that the Indian company, which employs close to 20,000 people in France, should leave after it said it would have to close down a factory. The French government announced on Thursday that it could nationalize the factory in question, with backing from an unnamed businessman.
One of the main consequences of President Obama’s reelection is that his national health care law will be implemented. Though there are various measures that Republicans can take to gum up the works in the coming years and though there will be a number of logistical hurdles facing the administration, the reality is that any future Republican proposals for reforming the health care system will have to wrestle with the existing Obamacare framework. Even if premiums spike, wait times at doctors’ offices swell, exchanges are a mess and some people lose coverage they like as a
Secretary of State Hillary Clinton delivered a major foreign policy speech to the Brookings Institution yesterday, highlighting her record of diplomacy with Europe. “I must begin by being very frank,” Clinton said. “When President Obama and I came into office, this relationship was frayed.” She added, “From day one, President Obama and I made clear that if we were going to make progress, we had to do the hard work of renewing and reinvigorating our partnerships around the world, and that began with Europe.” Clinton praised America’s record of partnership with Europe rising to meet foreign policy challenges
A Harvard student group that relishes in conversations about erotic sex has been officially recognized by the prestigious university based in Cambridge, Massachusetts. The group, which goes by ‘Harvard College Munch,’ first began its meetings in one of the university’s dining halls to discuss personal stories and broader issues related to BDSM and other forms of ‘kinky sex’, the Harvard Crimson reports. Munch’s membership has grown to about 30 members from seven when it began more than a year ago and is one of 15 student organization that will be approved by Harvard’s Committee on Student