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Category Archives: Economy

What Would Clinton and Trump Need to Do to Address the Debt Along with their Policy Agendas?

Committee for a Responsible Federal Budget Report – “We recently estimated that Clinton’s policies would likely add $200 billion to the debt over the next decade, while Trump’s policies would add $5.3 trillion. We also found that the ratio of debt to Gross Domestic Product (GDP) would rise from nearly 77 percent of GDP today to 86 percent by 2026 under Clinton and 105 percent under Trump. Newer estimates of their tax plans (but not spending initiatives) from the Tax Policy Center suggest similar findings. Debt cannot continue to rise faster than the economy indefinitely. Excessively high levels of debt harm economic growth and wages, squeeze out important national priorities, leave us less able to respond to future economic downturns, and, ultimately, are unsustainable. That means that if the candidates’ plans are implemented, they will need to be accompanied or followed by reductions in spending, increases in revenue, or both to avoid leaving our nation on an unsustainable fiscal path…”

IRS IG – Review of the Enterprise E-Mail System Acquisition

Review of the Enterprise E-Mail System Acquisition, September 30, 2016. Reference Number: 2016-20-080. “The IRS purchased subscriptions for an enterprise e-mail system [Microsoft] that, as it turned out, it could not use. The purchase was made without first determining project infrastructure needs, integration requirements, business requirements, security and portal bandwidth, and whether the subscriptions were… Continue Reading

Former Wells Fargo Employees File $2.6B Lawsuit

Via FindLaw – Alexander Polonsky, et al. v. Wells Fargo, Los Angeles Superior Court, September 22, 2016. “The lawsuit was filed by two former employees, but seeks compensation for any and all Wells Fargo employees penalized for not meeting sales quotas over the past 10 years. In September, the bank fired over 5,000 employees for… Continue Reading

BBC radio – A Natural History of the Banker

“New York Times financial journalist Andrew Ross Sorkin criss-crosses the Atlantic to trace the troubled reputation of bankers over the centuries, in the UK and the USA. With the global economy still recovering from the crash of 2008, the reputation of high finance often appears to be at an all time low. Banks and the… Continue Reading

Commentary – Why we still need to keep books in our campus libraries

Ann E. Michael is writing coordinator at DeSales University, and a poet. She blogs on poetry, nature, philosophy — and sometimes libraries — at “..Like many avid readers, I’ve been engaging with texts since I teethed on my first book of nursery rhymes. So I admit to a strong bias toward the presence of… Continue Reading

Pew – Middle East’s Migrant Population More Than Doubles Since 2005

“Between 2005 and 2015, the number of migrants living in the Middle East more than doubled, from about 25 million to around 54 million, according to a Pew Research Center analysis of data from United Nations agencies. Some of this growth was due to individuals and families seeking economic opportunities. But the majority of the… Continue Reading

The Effects of Increasing Fannie Mae’s and Freddie Mac’s Capital

“In this report, CBO analyzes a policy that would allow Fannie Mae and Freddie Mac to increase their capital by reducing their payments to the government and discusses the effects that it would have on the budget and the mortgage market…Fannie Mae and Freddie Mac are government-sponsored enterprises (GSEs) that help finance the majority of… Continue Reading

Brookings – Black-white disparity in student loan debt more than triples after graduation

Brookings – “The moment they earn their bachelor’s degrees, black college graduates owe $7,400 more on average than their white peers ($23,400 versus $16,000, including non-borrowers in the averages). But over the next few years, the black-white debt gap more than triples to a whopping $25,000. Differences in interest accrual and graduate school borrowing lead… Continue Reading

Ranking Gender Inequality in All 50 States

24/7 Wall St review of gender equality in all 50 states: “Perhaps the most egregious component of gender inequality in the U.S. is the wage gap. Though the severity of the wage gap varies by state, nationwide, the typical woman working full time earns 80 cents for every dollar a man earns. No state has… Continue Reading

Gallup – Women in America: Work and Life Well-Lived

How can businesses create the ideal work culture for female employees? “In the U.S., more than 5 million jobs are available. But women continue to drop out of the workforce in troubling numbers. Far less than half of female employees (35%) are engaged in their jobs, and nearly half of women say they are looking… Continue Reading

World Bank Commodity Markets Outlook October 2016

World Bank Raises 2017 Oil Price Forecast – “Most commodity prices continued to rise in the third quarter from their lows in early 2016 . Crude oil prices are forecast to rise to $55 per barrel in 2017 from an average of $43/bbl this year as the market continues to rebalance and OPEC is likely… Continue Reading

Lower Manhattan since 9/11: A Study in Resilience

NY Fed – Liberty Street Economics – Jason Bram and Joelle Scally – “The 9/11 terrorist attack on the World Trade Center left a deep scar on New York City and the nation, most particularly in terms of the human toll. In addition to the lives lost and widespread health problems suffered by many others—in… Continue Reading