David Stockman’s warning that the Federal Reserve’s quantitative easing is steering the world’s largest economy toward a crash is at odds with nine quarters of job growth, record stock prices and unprecedented corporate earnings, former fiscal and monetary policy makers said.
There are two main problems with sequestration. The first is that the $1.1 trillion in budget cuts happen in an idiotic, across-the-board fashion. Think farm subsidies are less valuable than medical research, and thus should take a bigger cut? Too bad. Sequestration is too dumb to tell the difference.
After eight years as a guidance counselor at Scotts Valley High School and more than 14 years with the district in Santa Cruz County, California, Kimberly Frey says she lost her job in June as part of budget cuts.
The ranks of poor Americans remained at a record high number last year, even after government-aid programs such as food stamps, housing vouchers and heating subsidies were included, the U.S. Census Bureau said today.