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Category Archives: Economy

Debt of the Elderly and Near Elderly, 1992–2013

Employee Benefit Research Institute. Debt of the Elderly and Near Elderly, 1992–2013. January 2015, Vol. 36, No. 1

  • “More older American families have debt: The percentage of American families with heads ages 55 or older that had debt increased from 63.4 percent in 2010 to 65.4 percent in 2013. Furthermore, the percentage of these families with debt payments greater than 40 percent of income—a traditional threshold measure of debt load trouble—increased in 2013 to 9.2 percent from 8.5 percent in 2010.
  • However, other debt measures were down: Total debt payments as a percentage of income decreased from 11.4 percent in 2010 to 10.0 percent in 2013, and average debt decreased from $80,465 in 2010 to $73,211, while debt as a percentage of assets decreased from 8.5 percent in 2010 to 8.1 percent in 2013.
  • Housing debt drove the change in the level of debt payments in 2013, while the nonhousing (consumer) debt-payment share of income held stable from 2010. Housing debt was the major component of debt for families headed by individuals ages 55 or older.
  • The debt levels among those with housing debt have obvious and serious implications for the future retirement security of these Americans, perhaps most significantly that these families are potentially at risk of losing what is typically their most important asset—their home.”

Advancing a Multimodal Transportation System by Eliminating Funding Restrictions

“One of the most pervasive, durable, and detrimental myths in transportation policy is that highways pay for themselves, while public transportation does not. In reality, both modes require significant public subsidies, as user fees—such as fuel taxes and farebox revenues—cover only a portion of total costs. States and the federal government supplement these user feesContinue Reading

Federal Reserve issues FOMC statement Jan 28 2015

News release: ” Information received since the Federal Open Market Committee met in December suggests that economic activity has been expanding at a solid pace.  Labor market conditions have improved further, with strong job gains and a lower unemployment rate.  On balance, a range of labor market indicators suggests that underutilization of labor resources continuesContinue Reading

Open Database Of The Corporate World

“OpenCorporates aims to do a straightforward (though big) thing: have a URL for every company in the world. We’ve grown from 3 territories and a few million companies to over 75 jurisdictions and 55 million companies, and are working with the open data community to add more each week.How can we get hold of theContinue Reading

Census Data Show California Leads U.S. in Manufacturing Employment for 2012

“Today the Census Bureau released manufacturing statistics from its 2012 Economic Census at the state, metro area and county levels, as well as for cities and towns, for more than 350 manufacturing industries. These data, referred to as the Geographic Area Series, cover more than 296,000 U.S. manufacturing establishments (NAICS 31-33) within every state andContinue Reading

How Does Aging Affect Financial Decision Making?

Center for Retirement Research at Boston College – Keith Jacks Gamble, Patricia A. Boyle,Lei Yu and David A. Bennett IB#15-1 “The brief’s key findings are: With the shift from traditional pensions to 401(k) plans, the welfare of retirees depends increasingly on their ability to make sound financial decisions. Using a dataset that follows a groupContinue Reading

Testimony on the Budget and Economic Outlook: 2015 to 2025

CBO Report, January 27, 2015 Testimony before the Committee on the Budget, U.S. House of Representatives “This statement summarizes CBO’s new baseline budget projections and economic forecast, which cover the period from 2015 to 2025. Those estimates were released in the report titled The Budget and Economic Outlook: 2015 to 2025. The federal budget deficit,Continue Reading

New GAO Reports – Defense Logistics, Depot Maintenance, Supply Chain Security

Defense Logistics: DOD Has a Strategy and Has Taken Steps to Improve Its Asset Visibility, but Further Actions Are Needed, GAO-15-148: Published: Jan 27, 2015. Publicly Released: Jan 27, 2015. Depot Maintenance: Status of the Public-Private Partnership for Repair of the Dual-Mode Transmitter in the F-16 Fire-Control Radar, GAO-15-249R: Published: Jan 27, 2015. Publicly Released:Continue Reading

Federal Reserve Issues Strategies for Improving the U.S. Payment System

“The Federal Reserve today issued “Strategies for Improving the U.S. Payment System,” which presents a multi-faceted plan for collaborating with payment system stakeholders including large and small businesses, emerging payments firms, card networks, payment processors, consumers and financial institutions to enhance the speed, safety and efficiency of the U.S. payment system. “A safer, more efficientContinue Reading

IMF Offers Free Access to Its Online Economic Data

“The International Monetary Fund has launched a new platform to support its move to free data and to improve online global statistical dissemination. The new portal enables bulk data downloads and introduces dynamic visualization to showcase datasets that became available free-of-charge on January 1, 2015. The platform will help users better query, visualize, download, andContinue Reading

Global Risks 2015 – World Economic Forum

“The 2015 edition of the Global Risks report completes a decade of highlighting the most significant long-term risks worldwide, drawing on the perspectives of experts and global decision-makers. Over that time, analysis has moved from risk identification to thinking through risk interconnections and the potentially cascading effects that result. Taking this effort one step further, this year’s report underscores potential causes as well as solutions to globalContinue Reading

Mapping America’s Futures – What Will America Look Like in 2030

The Urban Institute: “What will America look like in 2030? We can already see that the population is aging and becoming more diverse, but how will those trends play out at the local and regional levels? And what if, in the future, we live longer or have more babies? How would those trends affect theContinue Reading