TV News LIES

Tuesday, Mar 03rd

Last update06:35:41 AM GMT

You are here All News At a Glance Economic Glance

Food stamp benefit cut may force a million people into 'serious hardship'

Food stamp cutsFood stamp eligibility rules are tightening in states across the country, causing up to one million current recipients to lose benefits and resulting in “serious hardship for many,” a new report from the Center on Budget and Policy Priorities (CPBB) suggests.

The swipe on benefits will occur as various states re-impose work requirements they had let lapse in the aftermath of the financial crisis. Able-bodied adults without dependents (referred to as ABAWDs in U.S. Department of Agriculture jargon) are typically only able to access year-round food stamp if they are either working for at least 20 hours per week or participating in a federally approved workfare program. However, states with elevated unemployment levels have the ability to apply for a waiver on these rules.

Read more...

How the states are redistributing wealth from middle class to 1%

wealth in americaIn 2008, then-candidate Barack Obama was lambasted for supposedly endorsing policies of wealth redistribution. The right feared that under an Obama presidency, Washington would use federal power to take money from some Americans and give it to others. Yet, only a few years later, the most explicit examples of such redistribution are happening in the states, and often at the urging of Republicans.

The most illustrative example began in 2012, when Kansas’ Republican Gov. Sam Brownback signed a landmark bill that delivered big tax cuts to high-income earners and businesses. Less than two years after that tax cut, the state’s income tax revenue plummeted by a quarter-billion dollars — and now Brownback is pushing to use money for public employees’ pensions to instead cover the state's ensuing budget shortfalls.

Read more...

MF Global ordered to pay $1.2 billion restitution, $100 million penalty

MF GlobalA federal court in New York has ordered MF Global Holdings Ltd to pay $1.2 billion in restitution and a $100 million penalty over charges it misused customers funds and committed related supervisory violations, the U.S. Commodity Futures Trading Commission said on Wednesday.

The CFTC said its litigation will continue against former MF Global Chief Executive Jon Corzine and former Assistant Treasurer Edith O'Brien.

More...

U.S. economy grows at fastest pace in 11 years

US economy growsThe U.S. economy grew at its quickest pace in 11 years in the third quarter, the strongest sign yet that growth has decisively shifted into higher gear.

The Commerce Department on Tuesday revised up its estimate of gross domestic product growth to a 5.0 percent annual pace, citing stronger consumer and business spending than it had previously assumed.

Read more...

Inequality Between America's Rich and Poor Is at a 30-Year High

economic inequality at 30 yr. highThere are many ways to compare finances, but perhaps a more holistic measure of financial health looks at household wealth, a comparison of what a family’s assets (home, cars, investments and bank accounts) are worth, versus what they owe. And when it comes to wealth, or net worth, the gap between the richest Americans and everyone else is at an historic high.

For the most part, it’s not necessarily that the rich are getting richer and the poor, poorer. Instead, the data shows that while the rich are seeing their assets grow and increase in value, the middle and lower-classes are seeing financial stagnation, creating a growing economic gulf.

Read more...

More Sears and Kmart closings than first announced

Sears closingsSears Holdings, the parent company to Sears and Kmart, announced it will close another 235 stores nationwide after another quarterly loss.
Sears boosted the list of store closures from 130 to 235 while the company reported its third-quarter losses were more than the same period last year.

Analysts said it's the best move for the struggling company, but more stores will likely need to be closed to make the company profitable. Rob Schriesheim, Sears Holdings' Chief Financial Officer, said the company is financially stable.

More...

US adds 321,000 jobs, the most in nearly 3 years

unemploymentU.S. employers added 321,000 jobs in November, the biggest burst of hiring in nearly three years and the latest sign that the United States is outperforming other economies throughout the developed world.

The Labor Department also said Friday that 44,000 more jobs were added in September and October combined than the government had previously estimated. Job gains have averaged 241,000 a month this year, putting 2014 on track to be the strongest year for hiring since 1999.

Read more...

Page 2 of 64

 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!