It was a good day when Larry Summers, former Secretary of the Treasury and economic advisor to President Obama withdrew his name for consideration as new the Chairman of the Federal Reserve. It’s an even better day now that Janet Yellen has been nominated for the position. If confirmed, Ms. Yellen will make history as the first female chair of the Federal Reserve, the nation’s central banking system.… [Read more]
Small businesses help fuel the nation’s economic growth. Small business owners are already busy juggling plenty of challenges. Between tasks such as managing employees, keeping tabs on the industry, and striking a balance between operating expenses and turning a profit, small business owners have their work cut out for them. The last thing any small business owner needs is to heap on an unnecessary burden – such as excessive paperwork.… [Read more]
Politics has its hands in everything. It even affects college and who attends and who doesn’t. Schools are inherently biased about who they will and will not accept as admissions is a selectivity game. As a result, prospective college students often feel as though they must throw everything noteworthy about themselves in their applications and, still, there is a possibility that they won’t be admitted to their higher education institution of choice.… [Read more]
We Americans do not have the world’s “best” health care, just the most expensive.
Health Care reform must consider skyrocketing costs if any progress is made. We walk a tightrope between cost and quality.
When I slung gin over the bar, one learnt rather quickly from frazzled nurses that “M.D.” too often stood for “Me, Doctor!” The human body is a complex beastie, but we need choices other than which expired medico to raise from the dead, Dr.… [Read more]
Banks behaving badly (now referred to as BBB) should be the title of an on-going saga with the nation’s largest financial institutions. It’s also the reason why harsh penalties and strict regulations are needed to keep Wall Street from running amok.
In the latest episode of ‘BBB’, J.P. Morgan Chase, the nation’s largest bank based on its asset size, is back in the news again. … [Read more]
“How about a ‘grand bargain’ for middle-class jobs?” Indeed, that is the question. While Congress spends its time on the time-wasting activity of yet another ‘down with Obamacare‘ vote (does this latest vote make 40 attempts to snatch healthcare coverage from the country’s previously uninsured citizens?), President Obama spoke at a another stop on his ‘state of the economy’ road trip.… [Read more]
Yesterday, the Federal Energy Regulatory Commission (FERC) — the independent agency responsible for assisting consumers in “obtaining reliable, efficient and sustainable energy services at a reasonable cost through appropriate regulatory and market means” — released a notice on the allegations against a J.P. Morgan Chase affiliate. JPMC has been accused by federal energy regulators, after a investigation that began approximately one year ago, of using ”eight manipulative bidding strategies” to garner what the regulators deem to be “excessive payments” from electricity markets.… [Read more]
Since the City of Detroit made history by declaring the largest municipal bankruptcy in the nation’s history, there has been much talk about credit ratings, debt burdens and the legalities of bankruptcy, which allows those who declare it to take time to restructure their financial obligations and, often, to repay less than what was previously owed.… [Read more]
H.R. 1105, the Small Business Capital Access and Job Preservation Act, was introduced by Congressman Robert Hurt (R-Virginia). The purpose of the Act is to exempt advisers to certain private equity funds from the new registration requirements required by Title IV of the Dodd-Frank Act, the Wall Street reform act that is supposed to regulate the practices of Wall Street to prevent another financial crisis. … [Read more]
Fifty years ago, President John F. Kennedy signed the Equal Pay Act of 1963 as part of his New Frontier program. The federal law amended the Fair Labor Standards Act that was directed at abolishing wage disparity based on gender.
Today, 50 years to the day, President Obama marked the anniversary of the Equal Pay Act.… [Read more]
Congressional Republicans are trying to keep alleged White House “scandals” simmering well past al dente doneness. As facts unfold, it’s more like vainly trying to keep a wave upon the sandy beach.
Let’s remember last year’s GOP presidential primaries. Texas Gov. Rick Perry (R) made a seemingly intoxicated tirade about a tax return the size of a postcard.… [Read more]
Education can be an individual’s or a nation’s greatest investment. We talk about the disparity between the public education provided to students with fewer economic resources and those who have greater financial means. We also talk about gender differences in that young women are often steered away from Science, Technology, Engineering and Mathematics (STEM) fields of study.… [Read more]
President Obama’s salary and pension may be exempt from sequestered cuts but that hasn’t stopped him from taking the same cut that other federal employees are being subjected to due to budget sequestration. Today, it was announced that the POTUS plans to return 5% of his $400,000 annual salary in response to and in support of federal workers who are going to be furloughed.… [Read more]
A few days ago, the issue of earned sick days for workers was in the news. Its was noted that, for example, more than a million residents of New York who do not have paid sick days and that suffering an illness means losing out on a pay check at best and a job at worst. … [Read more]
Legacies. If or when elected officials think about how their constituents will remember them once they’re out of office, what thoughts cross their minds? Do they think about how they could have left their jurisdictions better than they found them? Do they give thought to how they could have reached back a little bit more to help those who were most in need of their support?… [Read more]
Though the news this week is of the election of Pope Francis and what this means for the Catholic Church’s Legacy following the resignation of Benedict XVI, I want to focus on the big news last week. Last Thursday, the Dow Jones Industrial Average hit the astronomical all-time high of 14,253.77, and has continued breaking records for nine straight trading days.… [Read more]
So the Republican-controlled House of Representatives proposed a $982 billion bill to fund the government for the rest of the fiscal year instead of more brinksmanship. Before we start dancing in the streets, and name a few golf courses and watering holes after House Speaker John Boehner (R-Ohio), the devil is again in the details.
As a former Federal agency budget analyst and before that, a military comptroller, we need to look beyond the spin platitudes and delve into the numbers.… [Read more]