On Monday, Federal Reserve Vice Chair Janet Yellen said the Fed must continue its aggressive purchasing of $85 billion of bonds a month to stimulate the U.S. economy and spur employment. “At this stage, I do not see any (potential
Deputy Governor of China’s central bank Yi Gang said China is “fully prepared” for a currency war. “In terms of both monetary policies and other mechanism arrangement, China will take into full account the quantitative easing policies implemented by central banks
Under President Barack Obama, the national debt has grown by more than $6 trillion, the largest increase under any president in U.S. history. According to the Treasury Department, the national public debt now stands at $16,687,289,180,215.37. On the first day
In the name of sequester-related budget cuts, the Obama Administration is moving forward with a controversial illegal immigration release program that, in the past, has produced fatal consequences. Last Wednesday, White House Press Secretary Jay Carney claimed that the Homeland
In January, Americans suffered the biggest plunge in monthly personal income in 20 years, erasing $505.5 billion of wealth from their wallets. Driving the income nosedive were the 2% payroll tax increase, soaring gas prices, and higher than typical December
Billionaire New York City Mayor Bloomberg says that, unlike American households, the federal government’s debt does not matter because “people do seem willing to lend us an infinite amount of money.” It’s not like your household. In your household, people
Billionaire New York City Mayor Michael Bloomberg is pouring his massive wealth into an anti-gun rights super PAC to defeat 2014 pro-Second Amendment candidates supported by the National Rifle Association (NRA). Bloomberg’s super PAC Independence USA, which is solely funded
On Wednesday, House Majority Leader Eric Cantor told a GOP member in a closed-door conference meeting that any Republican efforts to stymie the Senate’s version of the Violence Against Women Act from coming to the House floor would spark a
On Wednesday, the U.S. Senate voted 71-26 to confirm Jack Lew as the next Treasury Secretary of the United States. Twenty Republicans joined Democrats to confirm Lew by a greater margin than his predecessor, Timothy Geithner. Leading the conservative charge
In an appearance Tuesday before Congress, Federal Reserve Chairman Ben Bernanke hailed his inflation record as “the best of any Federal Reserve chairman in the post-war period” and said Congress and the Obama Administration should delay looming sequestration spending cuts. “The
On Tuesday, the head of Mexico’s powerful 1.3 million member teachers’ union was arrested on suspicion of embezzling $200 million in union funds. Attorney General Jesus Murillo says that Elba Esther Gordillo, 68, who has controlled the teachers’ union for
The Senate Finance Committee voted Tuesday to confirm Obama Treasury Secretary nominee Jack Lew. A floor vote is expected as soon as Wednesday, as Democrats scurry to ram through the increasingly controversial nominee. On Monday, the Wall Street Journal reported
Senate Democrats are scrambling to ram through Obama Treasury Secretary nominee Jack Lew in a Tuesday Senate Finance Committee vote followed by a rushed floor vote on Wednesday. “Obama has spent two campaigns railing against everything that Treasury Secretary nominee
Two weeks ago, Judicial Watch filed a Freedom of Information Act (FOIA) lawsuit against the National Archives And Records Administration (NARA) to unearth “assassination records” and other Robert F. Kennedy Department of Justice documents housed at the John F. Kennedy
A new report by the Government Accountability Institute has discovered that, according to the California Film Commission, Ben Affleck and George Clooney’s Oscar-winning film, Argo, received $6.21 million in California film tax credits. Last October, Affleck, a committed and vocal
A new report by the Government Accountability Institute (GAI) says Quentin Tarantino’s Oscar-winning film, Django Unchained, has applied for an estimated $8.4 million in tax credits, pending audit and review by the state of Louisiana. News of the taxpayer-funded subsidies comes
President Obama’s Treasury Secretary Jack Lew has done something unique in Washington: he has united both left and right sensibilities in opposing or criticizing his nomination on the grounds of incompetence, dishonesty, and hypocrisy. Liberal Washington Post columnist Dana Milbank
Sluggish economic growth and high debt led Moody’s to announce on Friday that it is downgrading Great Britain’s credit rating from “Aaa” to “Aa1.” The credit ratings agency cited “continuing weakness in the UK’s medium-term growth outlook, with a period
Lower-income Americans feeling the squeeze from the 2% payroll tax hike, soaring gas prices, and a rickety employment outlook are tightening their financial belts in ways that have discount retailers worried. On Thursday, the National Retail Federation (NRF) released a
The federal government spends $822.90 more per person in inflation-adjusted dollars than it did in 2008. CNS News compiled Treasury and Census Bureau data and found that real federal spending per household also went up $2,437.36 from 2008 to 2012.
Today, Americans are spending $900 more annually on gas than they did in 2009. On the first day of President Barack Obama’s first term, gas cost $1.84 a gallon. Today, a gallon of gas costs $3.74.
Obama Treasury Secretary nominee Jack Lew says he is not sure whether, as New York University Vice President of Operations, he approved a student-loan kickback scheme that made Citibank NYU’s primary private student loan lender before he left academia to
Even as the liberal Washington Post columnist Dana Milbank blasted President Obama’s Treasury Secretary Jack Lew for hypocrisy on his Cayman Islands investments and $950,000 Wall Street bonus, Buzzfeed is circling the wagons to defend Lew. Treasury Secretary nominee Jack
Minutes from the Federal Reserve’s end of January meeting reveal that Fed officials are split over how long to continue making $85 billion monthly bond purchases in an attempt to stimulate the U.S. economy. Some officials in the meeting warned the
The federal government says that with looming across-the-board budget cuts slated to hit next week, airline travelers should expect potential travel delays and cancelations. Executive Vice President of the Airports Council International–North America Deborah McElroy says the challenge is
Sen. Charles Grassley (R-IA) says President Obama’s Treasury Secretary nominee Jack Lew has been less than forthcoming throughout his confirmation. “Mr. Lew has a lack of knowledge or a poor memory of some of the perks he received through his
President Barack Obama plans to nominate pro-hydraulic fracking Massacusetts Institute of Technology nuclear scientist Ernest Moniz as his next Secretary of Energy, a move that has sparked outrage among some environmentalists. “Appointing Mr. Moniz would be a nail in the
A secret bailout deal struck between the Federal Reserve Bank of New York and Bank of America may have let the big bank off the hook for billions of dollars in legal claims in exchange for a mere $43 million
The University of Wisconsin Duluth-Superior says it is not backing down from its involvement in a controversial diversity campaign featuring white models with “Society was set up for us” and “Is white skin really fair skin?” and other racially charged
Last month, Democratic California Gov. Jerry Brown proudly announced that the state’s coffers were flooded with a surprise $5 billion windfall–a revenue bump the Los Angeles Times called “historic.” “Right now, in the next four years, we’re talking about
Since November, George Soros, 82, has reportedly bagged nearly $1 billion betting against the Japanese yen. From November to February, the yen lost 20% against the dollar. Soros Fund Management holds an estimated 10% Japanese shares. Other large hedge funds
On Monday, Breitbart News editor-at-large Ben Shapiro reported on a Washington State bill that contained a little-noticed provision that would allow police to search a citizen’s home once a year if they owned particular guns. The bill’s language read: “The
On Friday, financial research firm Lombard Street Research reported that “unemployment could rise above 8% and that profits will be squeezed.” Lombard Street says its bearish employment and growth projections are the result of a host of factors, including: the
During a Friday Google+ hangout session, President Barack Obama conceded that his policies to address climate change will raise energy costs, a fact that could prove uncomfortable for Democrats in areas reliant on fossil fuel power plants: I have to tell
Gas prices are rising like a rocket, climbing for 32 days straight to a national average of $3.73 a gallon. In Los Angeles, some drivers are paying as high as $5.19 a gallon. “I pay 75 bucks like three times
Canadian Financial Post editor Terence Corcoran recently suggested that President Barack Obama may be preparing a deal to approve the Keystone XL pipeline from Canada to the Gulf Coast in exchange for a carbon tax. “I see new taxes coming
In one of the fastest enforcement actions ever filed for suspicious trading, the U.S. Securities and Exchange Commission has frozen a Swiss trading account that turned a $90,000 options play into $1.7 million profit just before Heinz’s recent $23 billion
Rep. Charles Rangel (D-NY) wants to bring back the military draft and require women to register for the Selective Service. On Friday, Rangel reintroduced the so-called “draft bill,” known officially as “The National Universal Service Act” (H.R. 747), and “The
The New Jersey Transit Corporation spent over $14,000 to send four of its employees to the Super Bowl in New Orleans to scout out transportation and security in advance of next year’s big game at MetLife Stadium. Agency press person
An internal email from Walmart Vice President Jerry Murray said February “sales are a total disaster” and mark the worst sales start of any month in seven years. “In case you haven’t seen a sales report these days, February (month-to-date) sales
