Posts Tagged ‘deficit

30
Jul
15

Rise And Shine

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President Barack Obama looks over merchandise in a display case at Cool Vintage Watches on Main Street, Parkville, Mo., July 30, 2014. Photo by Pete Souza

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All Times Eastern

12:30PM: President Obama has lunch with Vice President Biden

1:00PM: White House Press Briefing

6:05PM: President Obama holds a conference call with grassroots supporters to discuss the nuclear deal with Iran

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President Barack Obama waves as he departs after delivering remarks on the economy at the Uptown Theater in Kansas City, Mo., July 30, 2014. Photo by Pete Souza

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Coral Davenport

The final version of President Obama’s signature climate change policy is expected to extend an earlier timeline for states to significantly cut planet-warming pollution from power plants, according to people familiar with the plan. If enacted, the climate change plan, the final version of which is expected to be unveiled as early as Monday, could stand as the most significant action ever taken by an American president to curb global warming.

The plan consists of three major environmental regulations, which combined are intended to drastically cut emissions of greenhouse gases. The rules take aim at coal-fired power plants, the largest source of greenhouse emissions, and are intended to spur a transformation of the nation’s power sector from fossil fuels to renewable sources such as wind and solar. Under the rules, the Environmental Protection Agency would require states to draft plans to lower emissions from power plants. The agency is also expected to issue its own model of a state-level plan, to be imposed on states that refuse to draft their own plans.

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German Lopez

The nationwide furor over the growing number of unarmed black men shot dead by police officers in recent months has put the public spotlight on a much bigger trend in the US: Black people are much more likely to be shot and killed by police.

An analysis of the available FBI data by Vox’s Dara Lind shows that US police kill black people at disproportionate rates: Black people accounted for 31 percent of police shooting victims in 2012, even though they made up just 13 percent of the US population. Black teens were 21 times more likely than white teens to be shot and killed by police between 2010 and 2012, according to a ProPublica analysis of the FBI data

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President Barack Obama sips on his iced tea and greets people on the street during a stop in Parkville, Mo., July 30, 2014. Photo by Pete Souza

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Nancy Agutu

The US will put up three women entrepreneurship centres in Kenya, Mali and Zambia, US President Barack Obama has said. Obama said the three countries will benefit from a Sh101 billion fund in women’s support. “If more global capital could see beyond prejudicial blinders, the great progress of the last 10 years could harness potential. It is time we changed the narrative about Africa,” he said. “If half of your team is not playing, you have a problem. In many countries, half of the the team is women and youth”.

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Rebecca Shabad

The federal deficit is estimated to tick down to $455 billion by the end of the fiscal year in September, according to the Office of Management and Budget’s mid-session review released Tuesday. As a share of the economy, the shortfall would equal 2.6 percent of gross domestic product (GDP). “Under the President’s leadership, the deficit has been cut by more than two-thirds as a share of the economy, representing the most rapid

sustained deficit reduction since World War II, and it continues to fall,” OMB Director Shaun Donovan wrote in a blog post. The new projected deficit would be nearly $30 billion less than the government’s red ink in 2014 and $128 billion less than administration’s 2015 deficit prediction back in February. Under Obama’s proposed 2016 budget, the review projects that his proposed policies would cause deficits to fall between 2.2 and 2.4 percent over the next three years.

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President Barack Obama signs a coffee cup for a patron at Parkville Coffee in Parkville, Mo., July 30, 2014. Photo by Pete Souza

President Barack Obama waves as he departs after delivering remarks on the economy at the Uptown Theater in Kansas City, Mo., July 30, 2014. Photo by Pete Souza

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President Barack Obama greets line workers at the Amazon fulfillment center in Chattanooga, Tennessee, July 30, 2013. Photo by Chuck Kennedy

16
Mar
15

A Tweet Or Two

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This should make any decent human being want to vomit. Murder a Black child, get applauded

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A MUST read

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Continue reading ‘A Tweet Or Two’

11
Jan
15

The Obama Economy Keeps Moving Forward Without Any Help From The GOP

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Jason Furman: The Employment Situation In December

1. The private sector has added 11.2 million jobs over 58 straight months of job growth, extending the longest streak on record. Today we learned that total nonfarm payroll employment rose by 252,000 in December, mainly reflecting a 240,000 increase in private employment. Private-sector job growth was revised up for October and November by a combined 50,000 so that over the past three months, private-sector job growth has averaged 280,000 per month. Private employment has risen by at least 200,000 for 11 consecutive months, the first time that has happened since the 1990s.

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2. Total employment rose by 2.95 million in 2014, the most in any calendar year since 1999. Private-sector employers added 2.86 million jobs last year, the strongest private-sector job growth in any calendar year since 1997. The pace of overall job growth has increased, averaging 246,000 per month in 2014, up from 194,000 per month last year. On a percentage basis, the economy is adding jobs at a rate of about 2 percent per year, also on pace for the largest percentage increase in any calendar year since the late 1990s. Crucially, the pickup in the pace of job growth in 2014 has primarily been in industries with higher wages. For instance, the pace of manufacturing job growth has more than doubled to 16,000 per month this year, from 7,000 per month last year, and average weekly earnings for manufacturing workers are about $170 higher than for all private-sector workers. As discussed in greater detail below (see point #4), overall real average earnings have generally been growing, but there is more work to be done to raise wages and address longer-standing challenges around family incomes.

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DEFINITION OF ‘WAGE PUSH INFLATION’
A general increase in the cost of goods that is preceded by and results from an increase in wages. In order to maintain corporate profits after an increase in wages, employers must increase the prices they charge for the goods and services they provide. The overall increased cost of goods and services has a negative effect on the wage increase, and eventually, higher wages will be again needed to compensate for the increased prices for consumer goods.

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09
Nov
14

You Don’t Know What You’ve Got Until It’s Gone

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