May 31, 2013 |
The release of the annual trustees reports for Social Security and Medicare has generated some of the most overheated hand-wringing about the health of these two crucial programs in recent years, largely because the economic slump has made them look weaker than they may be over the long term. The reports were released Friday, and so far the reaction has been muted -- possibly because both reports have more good news, or at least neutral news,...
April 8, 2013 |
WASHINGTON -- The chairmen of key congressional committees said their bipartisan efforts to overhaul the tax code are on track and still very doable despite the partisan gridlock on Capitol Hill on many issues. "Tax reform can't be about politics," Senate Finance Committee Chairman Max Baucus (D-Mont.) and House Ways and Means Committee Chairman Dave Camp (R-Mich.) said in a joint opinion article Monday in the Wall Street Journal. "It has to be about the people we serve, about boosting the economy, about creating jobs in Montana, Michigan and across America," he said.
March 22, 2013 |
As California's unemployment rate remains stuck at 9.8% in January, some counties in the Golden State reported jobless rates edging up slightly. California's employers added just 1,700 jobs in January, according to the state's Employment Development Department. However, December figures were revised upward to show a net gain of 8,200 jobs instead of the 17,500 loss reported initially reported. The state has been adding jobs every month since July 2011. Economists say California businesses may be pulling back slightly as a reaction to a payroll tax increase and the state's recent implementation of a sales tax bump and increased tax on wealthy individuals.
March 18, 2013 |
California's jobless rate was unchanged at 9.8% in January for the second straight month, and that lack of improvement put the Golden State in a tie with Rhode Island for the worst unemployment in the U.S. On the other end of the spectrum, North Dakota had the lowest jobless rate, 3.3%, the government said Monday in releasing updated and revised employment data for all 50 states. California will release its county-by-county breakdown of jobs Friday, which economists expect will reflect the slow growth that is predicted in the state for 2013.
March 8, 2013 |
Everybody loves lists. Most of those you see in the papers or online tend toward the inconsequential (The Six Best "Fast & Furious" Movies). So here's a list with a bit more gravitas: The five biggest lies you're being told about entitlement programs. Never mind that the very word "entitlement" is a lie. Social Security and Medicare got that name because workers became "entitled" to those benefits by paying into the system. In recent years, however, the term has become distorted to signify benefits people are entitled to without earning them.
March 6, 2013 |
WASHINGTON -- The economy grew modestly in California and the West this year, helped by increasing auto sales and a strengthening housing market, the Federal Reserve said Wednesday in its periodic business survey. Modest growth was reported in an additional four of the central bank's 12 districts, and five others reported moderate expansion in the so-called Beige Book, an economic snapshot published eight times a year. The Boston and Chicago districts reported slow growth for the period covering January and much of February, before the start of automatic federal budget cuts.