Category: Economy

2022-2023 Outlook - The U.S. Bureau of Economic Analysis (BEA)'s latest GDP report shows the the US economy is definitely slowing and heading into a recession. With stock markets down over 30%, high inflation, Russia-Ukraine driving geopolitical issues and consumer sentiment at all time lows, things don't look good. However…

Under the recently enacted $2 trillion Coronavirus stimulus bill (CAREs act), federal funding will be provided to extend existing state administered unemployment insurance (UI) coverage for up to 13 weeks (Pandemic Unemployment Assistance) and will be bolstered by up to $600 per week (FPUC) over current state maximums over the next four…

As Mark Twain once said, "There are three kinds of lies: lies, damned lies, and statistics." To me, this nicely sums up recent economic figures that suggest America has escaped the clutches of another great depression and is on the way to a sustained recovery. Government reports say that GDP…

[Updated Nov] - See this post for details on the home buyer credit extenstion approval and new provisions: 2010 First-Time Homebuyer Tax Credit Extension Approved and Expanded to Existing Home Owners. New Provisions Not Retroactive A number of would-be home buyers and the real estate industry are anxiously wondering if…

When the $787 billion Economic Stimulus Bill – known as the American Recovery and Reinvestment Act – was signed, there was a promise to provide full transparency on it’s expenditure and to ensure that every dollar is tracked. Like so many earlier government promises, this one also is starting to…

[Latest Stimulus Check Update for Seniors] While multiple rounds of stimulus payments have been made over the last two years, many are asking if the government will make another (4th round) of payments to help folks cope with higher inflation and the rising costs of basic goods and services. $900…

The Labor Department reported recently that unemployment reached 9.8 percent in September, the highest level since 1983, and that 10% unemployment is likely by early next year. With record unemployment and a need to ensure the economy doesn't fall back into a recession, the Obama administration is considering the addition…

See the latest 2020 economic stimulus measures to tackle the economic fallout from the Coronavirus outbreak. [Updated Jan 2011] : No New Taxes with Tax Extensions Approved. President Obama has now signed into law a bill that covers a temporary extension of all the bush-era tax cuts. The new bill also contains…

Some worrying commentary from FDIC chairman Sheila Bair indicating that the economy and housing market are still a long way from recovered and that the potential run up in financial shares of late could just as easily reverse course in the later half of this year. The remarks were prompted…

The Federal energy-efficient appliance rebate program or Cash for Appliances program as it is more commonly known is now live in a number of states. The program will provide $300 rebates for Energy Star electric heat-pump water heaters, $100 for super-efficient clothes washers and $50 for super-efficient refrigerators. The program…

Recent economic figures released confirmed what most had expected: America’s economy is still contracting. The world’s largest economy shrank at an annual rate of 1% in the latest quarter (compared to 6.4% in the previous one) meaning that while the country's deepest post-war recession was not over, the rate of…

2021 Update - Given the chip shortage and surge in new and used car prices, no government programs were put in place as part of the various stimulus packages to support the Automotive industry. There are however Electric Vehicle (EV) credits and tax breaks in the bi-partisan infrastructure bill. [2020…

I remember as a kid, my brother and I used to exchange IOUs (I owe you) for favors owed. In most cases this was for some form of candy or an exchange to do assigned chores around the home. Because we had no money, the IOU's provided the exchange platform…