U.S. Economy

On Tuesday night this nation watched as Obama made a calculated pitch for the biggest power grab in this nation’s history! With carefully chosen words our President was insulting the intelligence of this nation, and counting on the media’s love affair with him, to get away with it. Praying on current fear, anger, and insecurity over the financial crisis, Obama wants Congress to grant unprecedented powers for the government to take control of financial institutions when it determines they are failing. For starters, the Congress can not give something it does not have. Article 1 of The United States Constitution deals with the powers ... Read Full Story

On Tuesday, Federal Reserve Chairman Ben Bernanke said “We must have a strategy that regulates the financial system as a whole, in a holistic way, not just its individual components,” during his speech to a committee on foreign relations. His call was for a complete overhaul of the regulatory systems to strengthen oversight of banks, mutual funds, and large financial institutions that could seriously damage our economy if those institutions collapsed. In the wake of our current recession, this has been a big topic of conversations with many ideas thrown around in order to prevent another financial crisis. In other words the fools in ... Read Full Story

In August 2008 the General Accounting Office (GAO) issued a Report to the Committee on Finance, U.S. Senate regarding Individual Retirement Account compliance issues. The GAO Report is in excess of 50 pages and discusses the complexities of complying with the Individual Retirement Account (IRA) tax rules. I will help you understand just what this means for you. According to the Report about 51 million taxpayers held $3.3 trillion in IRAs as of the end of 2004. In addition, the GAO Report indicated that total assets in IRAs as of 2007 was more than assets held in either employer-sponsored defined contribution or defined benefit ... Read Full Story

Browse > Home / BANKING AND FINANCIAL NEWS , BREAKING NEWS , PRESS RELEASE / The Economy - It’s No Laughing Matter- says reports October 17, 2008 Washington,DC(RUSHPRNEWS)10/17/08 –Two new reports paint a discouraging picture of the U.S. economy Friday, reported today Voice of America.A University of Michigan survey of hundreds of households shows the steepest monthly drop in consumer confidence on record in October. Economists watch consumer moods for clues about the consumer spending that drives two-thirds of the U.S. economy. Experts blame falling consumer confidence on problems in the credit and stock markets that have hurt the investments that many people had ... Read Full Story

For a Presidential administration that talks so much about “creating jobs” for Americans, it is strange that it has chosen to intentionally send thousands of Californians to the unemployment lines. While the unemployment rate in our nation is at 9.7%, it is 12% in the state of California, and up to 50% in the specific counties in California in which the current administration has turned off the water to all the farms. As a result of a lawsuit brought by lawyers on behalf of tree huggers, government officials have turned off the pumps that send water to thousands of farms in the San Joaquin ... Read Full Story