When an appeals court ruled that President Obama’s recess appointments of members of the National Labor Relations Board was unconstitutional, it also threw into doubt the validity of the recess appointment last January of Richard Cordray, director of the Consumer Financial Protection Bureau. There was already a clash shaping up over …
Congress
Obama Inauguration Tickets – Which Are Distributed Free – Listed Online for $7,500 Apiece
No one present at next week’s swearing-in ceremony of Barack Obama as president is supposed to pay a dime to attend the event. But some attendees may be paying thousands of dollars for the privilege.
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Money Talking: Wall Street CEOs and the Fiscal Cliff
The issue of the “fiscal cliff,” the impending tax-hike and automatic cuts to federal spending, has been put on the backburner by lawmakers trying to woo voters in the runup to the November election. Now Wall Street CEOs are throwing their weight around in a new ad campaign calling for legislation to avoid the cliff. What should be done? …
Next Item on Agenda to Freak Out About: Milk Prices Could Double
Your may still be trying to calm down after news spread of a looming “unavoidable bacon shortage” (which isn’t really going to happen). But don’t get too comfortable. Now we’re supposed to panic about the possibility of milk …
Post Office to Default on $5.5 Billion Pre-Retiree Health Payment
Today the U.S. Postal Service will fail to make a $5.5 billion Congressionally mandated payment to cover health care costs for future retirees. At post offices around the country, everything will function normally. Postal trucks …
Stop Fighting Over Interest Rates — There’s a Better Way For Congress To Fix the Student Debt Crisis
Interest rates on federal subsidized Stafford loans were cut from 6.8% to 3.4% during the current economic downturn. This “temporary” reduction is scheduled to expire this summer, halfway through an election year. With
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Congressmen Accuse Fannie and Freddie Boss of Ideological Bias
Updated at 1:30 p.m.
There’s a sizable portion of the American public that’s against bailing out underwater American homeowners under any circumstances. That sentiment was most eloquently summed up by CNBC’s Rick …
Goldman Sachs: Best Way to Survive the ‘Fiscal Cliff’ Is Sending Obama, Republicans Back to Washington
Market observers are worrying about a new obstacle in the path of economic recovery: America’s impending “fiscal cliff.” Economists from Fed Chairman Ben Bernanke to Alan Blinder have been warning of the $600 billion that …
Students, Your Loan Interest Rate Is About to Double
Prepare yourself: on July 1, as many as 8 million college students will see their interest rates on federally subsidized student loans double, from 3.4% to 6.8%. According to the U.S. Public Interest Research Group, that increase …
With a Pension Shortfall, Companies Want to Kick in Even Less
Just a decade ago pension plans were flush. Today there is a $400 billion shortfall and companies want to do what? That’s right — cut their pension contributions.
Obama’s Job Creation Tax Credit: Cool Idea, Bad Policy
A tax credit? For small businesses? To create jobs? And raise wages? Wow! What a great idea! What’s not to like?
Quite a bit, in fact. In his fiscal 2013 budget proposal, President Obama has suggested a temporary 10% tax …
Does Obama’s Online ‘Consumer Privacy Bill of Rights’ Get the Job Done?
The Obama administration just rolled out something it’s calling a “Consumer Privacy Bill of Rights.” It’s a first draft at this point — think of it as a blueprint for legislation down the road, a statement of principles …
