Joe Carson News
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Consumers and businesses are treating higher payroll taxes and federal spending cuts as just a speed bump for a U.S. economy poised to accelerate later this year.
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Back in the 1980s, when hair was big, actress Heather Locklear appeared in a TV commercial for Faberge Organics Shampoo with wheat germ oil and honey.
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The drop in factory hours in June as reported by the Labor Department in its employment data last week probably overstated any slowdown in U.S. manufacturing, said economist Joe Carson .
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By this time, anyone with a heartbeat knows that there is some sort of unique financial rock formation posing a threat to the U.S. economy at year-end; that if President Barack Obama and Congress don’t find a way around it -- something at which Washington excels -- bad things will happen to all of us.
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It’s starting to look a lot like 2010.
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Two weeks ago, President Barack Obama unveiled his $447 billion plan to put Americans back to work.
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The U.S. recession may have ended in June 2009, according to the official arbiter of the business cycle. But by all signs, the recovery is just beginning.
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American companies and households earned more in the first quarter than previously estimated, exceeding the gain in economic growth and indicating the recovery will be sustained, economists said.
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The reaction to last week's employment report, both in the stock and bond markets and the ex-post analysis, was so extreme that I decided to do a little digging. Was one sub-par jobs report, with its payroll gain of 120,000, the game changer it was made out to be? Or was it just another piece of data, subject to revision?
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The pieces just don’t add up.
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