Uncle Sam News
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“Nobody is listening to your telephone calls,” President Barack Obama said today. Honestly, we didn’t think anyone was. If he intended to be reassuring, his words had the opposite effect. The president’s remarks in defense of the government’s vast electronic surveillance programs help explain why U.S. citizens -- and, not incidentally, U.S. businesses -- should be so unnerved by them.
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Tesla Motors Inc., the electric-car maker run by Elon Musk, surged as much as 12 percent on investor confidence in Musk’s plan to boost his stake in the company that’s selling as much as $830 million in shares and debt.
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January 3, 2013 - Tucked into the fiscal cliff tax package is a provision allowing 401(k) savers to convert some or all of their balance into a Roth 401(k) -- if your employer offers one, and not many do right now.
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There may be no government action more universally reviled in the U.S. than bank bailouts. Republicans and Democrats, financial industry lobbyists and watchdogs, Wall Street executives and President Barack Obama say taxpayers should never again rescue a failing bank.
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There has been a lot of talk about Iran making a sudden dash for the bomb. The fear is that, with its thousands of gas centrifuges and its tons of enriched uranium, Iran might be able to make a bomb’s worth of nuclear fuel before the U.S. or any other country could intervene to stop it.
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Fix the debt. It’s a lot harder than it sounds.
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Bloomberg's Julianna Goldman looks at the impact of shrinking government jobs on the overall unemployment rate. Just 9% of the population worked for the government in July as public payrolls have been cut 640, 000 since the end of the recession. Economists say the jobless rate would be 7.1 percent if the share of the population working for the government from 2001-2007 were still in their jobs. (Source: Bloomberg)
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David Stockman credits his harshest critic, Nobel Prize-winning economist Paul Krugman, for boosting sales of his new book, “The Great Deformation: The Corruption of Capitalism in America.”
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The Congressional supercommittee, charged with cutting federal debt by at least $1.2 trillion over the next decade, is deadlocked. Democrats and Republicans can’t agree on whose ox to gore. Both sides need a painless deficit- reduction plan.
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When the Federal Reserve’s Open Market Committee meets this afternoon, any decisions or announcements it makes will draw the attention of traders and commentators around the world.
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