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Monthly Budget Review: October 2008, A Congressional Budget Office Analysis, October 7, 2008 “CBO estimates that the federal budget deficit was about $438 billion in fiscal year 2008, $276 billion more than the shortfall recorded in 2007. Relative to the size of the economy, the 2008 deficit was equal to 3.1 percent of gross domestic …
News release: “Capital spending by all U.S. businesses rose 14.3 percent to a record high $1.31 trillion in 2006, according to the U.S. Census Bureau. This represents a $165 billion increase from the $1.14 trillion in capital spending reported in 2005 and surpasses the previous high of $1.16 trillion in 2000. These data come from …
News release: “American workers have lost as much as $2 trillion in retirement savings over the last year highlighting the devastating toll that the nations financial crisis is taking on their retirement plans, witnesses told the U.S. House Education and Labor Committee today. Todays hearing is one of several that House Democrats have scheduled …
From Chairman Waxman’s Opening Statement: “Today we are holding our second day of hearings on the financial crisis on Wall Street. Yesterday, we examined the collapse of Lehman Brothers. Our focus today is AIG. There are obvious differences between Lehman and AIG. Lehman is an investment bank; AIG is an insurance company. Lehman fell because …
Chairman Ben S. Bernanke At the National Association for Business Economics 50th Annual Meeting, Washington, D.C., October 7, 2008: Current Economic and Financial Conditions Federal Reserve Report on Consumer Credit, Release Date: October 7, 2008: “Consumer credit decreased at an annual rate of 3-3/4 percent in August. Revolving credit decreased at an annual rate of …
News release: “Adults gain substantial health benefits from two and a half hours a week of moderate aerobic physical activity, and children benefit from an hour or more of physical activity a day, according to the new Physical Activity Guidelines for Americans. The comprehensive set of recommendations for people of all ages and physical conditions …
News release: “The Federal Reserve Board on Tuesday announced the creation of the Commercial Paper Funding Facility (CPFF), a facility that will complement the Federal Reserve’s existing credit facilities to help provide liquidity to term funding markets. The CPFF will provide a liquidity backstop to U.S. issuers of commercial paper through a special purpose vehicle …
Minority Staff of the Joint Economic Committee: Government Policy Blunders Largely Caused the Global Financial Crisis, October 7, 2008. Research Report #110-26 “Macroeconomic and microeconomic policy blunders by both the U.S. government and foreign governments inflated an unsustainable housing bubble in the United States and other developed economies. When this bubble inevitably popped, a global …
The Economic Bailout: An Analysis of the Economic Emergency Stabilization Act, Katalina M. Bianco, J.D., John M. Pachkowski, J.D., CCH – Wolters Kluwer Law & Business “The current credit crisis, which led to the enactment of the EESA, has its deepest roots in the subprime mortgage crisis, known in the popular media as the mortgage …
President Bush Discusses Judicial Accomplishments and Philosophy, October 6, 2008 Fact Sheet: Judges Who Honor the Constitution In Focus: Judicial Nominations
