CNBC: Payday loans cost the U.S. economy nearly $1 billion and thousands of jobs in 2011, according to a report from the Insight Center for Community Economic Development. The study says that the burden of repaying the loans resulted in $774 million in lost consumer spending and 14,000 job losses. Bankruptcies related to payday loans […]
Economic outlook hurt by weak job gains
5 April 2013 by
(Reuters) – American employers hired at the slowest pace in nine months in March, a sign that Washington’s austerity drive could be stealing momentum from the economy. The economy added just 88,000 nonfarm jobs last month, the Labor Department said on Friday, well below market expectations for a 200,000 increase. The jobless rate ticked a […]
A tale of two economies
4 April 2013 by
Experts complain about a devalued currency and inflation, but government supporters say their lot has improved. Caracas, Venezuela – Despite a currency facing further devaluation, soaring inflation, and intense capital flight, Mildred Castellano thinks Venezuela’s economy is doing better than ever. Like millions of working-class voters who have supported the socialist government during the past […]
Has Obama lost advantage over G.O.P. on economy?
23 March 2013 by
Recent poll numbers seem to indicate that the American public is pretty evenly split on who can best handle the economy going forward. Most economic indicators show that we are in a recovery. Is this in spite of the gridlock or because of it? Read the New York time column here.
What sequester? Department of Education posts six figure job.
20 March 2013 by
Federal budget cuts are sending a chill through the Native American school districts in Minnesota. (AP) The Department of Education’s sequester cuts are taking a brutal toll on federally-funded schools on Native American reservations, but the federal agency still found money to create a new six-figure job promoting “Educational Excellence for African-Americans.”School officials on reservations […]