“Dempsey informed Kerry that the Air Force could not simply drop a few bombs, or fire a few missiles, at targets inside Syria: To be safe, the U.S. would have to neutralize Syria’s integrated air-defense system, an operation that would require 700 or more sorties.”Share on Facebook
Category Archives: The Economy
The Congressional Budget Office estimated Tuesday the Senate immigration bill would reduce deficits by $197 billion over 10 years, handing supporters a new economic argument for the bill as the upper chamber marches toward a final vote.
The CBO said the bill would increase spending by $262 billion between 2014 and 2023 by requiring new border security measures, but would increase revenue by $459 billion as those given legal status and newly admitted temporary workers pay taxes.Share on Facebook
President Obama suggested that he was likely to nominate a new Federal Reserve chairman later this year, saying in a television interview aired late Monday that the current chairman, Ben S. Bernanke, had “already stayed a lot longer than he wanted or he was supposed to.”Share on Facebook
We expect aggregate government-worker income to decline in May given that furloughs started in late May. The first day of government wide furloughs was on May 24, when roughly 115,000 federal workers, or 5% of the total federal work force, stayed home without pay. However, with the majority of the furloughs not kicking in until the beginning of July, including the Pentagon’s 680,000 furloughs beginning July 8, the real income shock will not show up until the July personal income and outlay report on Aug. 30.Share on Facebook
“The emergency manager who was sent to reverse the fortunes of this financially troubled city asked some of its creditors on Friday to accept pennies on the dollar as he laid out his plan for tackling Detroit’s staggering debt, kick-starting negotiations that could determine whether the city is headed to bankruptcy court,”Share on Facebook
“I’m a human here in this country now; I didn’t feel like I was before,” said Luis Rey Ramirez, 26, a Mexican graphic designer who grew up in the Bronx and was granted the deferral in April. “I feel like I can just navigate this country easier in a legal way, in a way that I can contribute.”Share on Facebook
“We’ll be there even after the cameras leave and after the attention turns elsewhere,” Obama said then. “Your country will remain ever ready to help you recover and rebuild and reclaim your community.”
The Texas governor added Wednesday, “We anticipate the president will hold true to his word and help us work with FEMA to ensure much-needed assistance reaches the community of West.”
Perry’s words were measured compared with those of state Attorney General Greg Abbott.Share on Facebook
Mr. Lawsky said that because the transactions made companies look richer than they otherwise would, some were diverting reserves to other uses, like executive compensation or stockholder dividends.
The most frequent use, he said, was to artificially increase companies’ risk-based capital ratios, an important measurement of solvency that was instituted after a series of life-insurance failures and near misses in the 1980s.
Mr. Lawsky [New York’s superintendent of financial services] said he was struck by similarities between what the life insurers were doing now and the issuing of structured mortgage securities in the run-up to the financial crisis of 2008…..Share on Facebook
You win the modern financial-regulation game by filing the most motions, attending the most hearings, giving the most money to the most politicians and, above all, by keeping at it, day after day, year after fiscal year, until stealing is legal again. “It’s like a scorched-earth policy,” says Michael Greenberger, a former regulator who was heavily involved with the drafting of Dodd-Frank. “It requires constant combat. And it never, ever ends.”Share on Facebook
House Republicans so far are engaged in something of a legislative charade with Democrats. Instead of directing how the Pentagon might operate under the current cap, they are proceeding with a far more generous plan and acting as if this could be enacted without GOP concessions on taxes or increasing the overall fiscal 2014 spending cap.Share on Facebook
The problem is that the U.S. government has at least 15 official definitions of the word “rural,” two of which apply only to Puerto Rico and parts of Hawaii.
All of these definitions matter; they’re used by various agencies to parcel out $37 billion-plus in federal money for “rural development.” And each one is different.Share on Facebook