Help The Middle ClassNews and Information For The Heart Of America
Obama Still Plans On ‘Redistribution Of Wealth’ To Pay For Deficit (Los Angeles Times)
Reporting from Washington
With enactment of his signature healthcare law, President Obama has also made good on another major campaign promise: to ease the tax burden on middle-class Americans and pay for his domestic agenda by raising taxes on the wealthy. And for upper-income taxpayers, the tab for healthcare is just the beginning.
Families earning more than [...]
Why The Unemployment Rate Will Continue To Be High For Sometime (U.S. News)
Why the Unemployment Rate Refuses to Budge – US News and World Report.
Growth of Unpaid Internships May Be Illegal, Officials Say (New York Times)
With job openings scarce for young people, the number of unpaid internships has climbed in recent years, leading federal and state regulators to worry that more employers are illegally using such internships for free labor.
Convinced that many unpaid internships violate minimum wage laws, officials in Oregon, California and other states have begun investigations and fined [...]
NOW THEY TELL US: Nonpartisan CBO Reports Deficit Will Be Much Worse Than Obama Says (MONEYNEWS.COM)
A new congressional report released Friday says the United States’ long-term fiscal woes are even worse than predicted by President Barack Obama’s grim budget submission last month.
The nonpartisan Congressional Budget Office predicts that Obama’s budget plans would generate deficits over the upcoming decade that would total $9.8 trillion. That’s $1.2 trillion more than predicted by [...]
More Temp Workers Are Becoming Permanent (USATODAY.com)
A growing number of businesses are converting temporary workers to permanent hires, heralding a warming job market.
“It’s definitely on the rise,” says Rob Wilson, president of Employco Group, a Chicago-area staffing firm.
Temporary jobs jumped by 48,000 in February to 2 million and are up 284,000 since September, the government said Friday. That’s a good sign: [...]
Workers Wait On Promise Of Jobs As Obama Agenda Stalls On Hill (Washington Post)
One month after President Obama declared jobs his “number one focus,” Congress has been unable to push through a single measure aimed at putting people back to work, as lawmakers haggle over how best to create jobs and how much to spend in the face of soaring budget deficits.
On Friday, Obama’s jobs agenda stalled on [...]
Largest US Banks Not Lending To Small Business (Business Week)
Small business customers at the nation’s 18 largest banks reported less success getting credit than customers of other commercial banks, according to a report released today by researchers at the National Federation of Independent Business conducted by Gallup.
One likely explanation for the difference: Big banks rely on automated credit scoring to make loan decisions, while [...]
DIAPPEARING JOBS: 10 Businesses In Trouble (Yahoo!)
People in almost every profession may feel like jobs are scarce right now. For many industries, this is a temporary situation. But jobs in some fields are expected to continue disappearing even after the economy picks up.
Is your industry on the decline? The federal government projects that a number of industries will lose jobs from [...]
Smaller Banks Now Offering More Private Student Loans (Bankrate.com)
Highlights
High-risk students may have better success at small banks, credit unions.
Community bank loans don’t offer the same benefits as student loans.
Shop around and ask big and small lenders for the full cost of a loan.
Consumers Are Squeezed As Inflation Outpaces Wages (Yahoo! News)
The spending power of families is being squeezed, government data showed Friday, highlighting doubts about consumers’; ability to drive the economic rebound.Workers saw their inflation-adjusted weekly wages fall 1.6 percent last year — the sharpest drop since 1990 — even as consumer prices rose only modestly. Slack pay and scarce job growth, along with tight [...]
