Feeds:
Posts
Comments

Posts Tagged ‘deficit’

Can the United States of America afford a decades-long war with ISIS? Can the U.S. contain Russia should it annex its neighbors? Can we confront North Korea if its dictator teams up with a nuclear-armed Iran? Will Big Government have an incentive to secure our borders if we need new and future taxpayers — legal and otherwise — to service the interest on our debt?

There’s no doubt the United States has the best-equipped military in the world. But that may not add up to a whole lot of security if we don’t get a handle on the national debt — before it’s too late.

“I.O.U.S.A.” is as relevant today as it ever was when it debuted in 2008 on the heels of former Comptroller General David Walker’s two-year Fiscal Wake-Up Tour. The only difference? Instead of ~$9 trillion the U.S. is running a deficit today in excess of $18T. That works out to a staggering $3 million per minute — for a figure currently in excess of $56K per American!:

Read Full Post »

With unemployment holding at a four-year low of 7.5 percent and the national economic outlook improving modestly according to the Bureau of Labor Statistics, the job market recovery is nonetheless slower than at any time since World War II, a UCLA Anderson Forecast study shows.

The question remains even as the Equal Employment Opportunity Commission attempts to keep closer tabs on hiring practices: How can job seekers make the most effective use of their limited time, money and resources? Ask a long-term job seeker if they feel the economy has improved and skepticism abounds. The unemployed and underemployed point to the record number of Americans who receive public assistance. They speak of the disconcerting impression that some job openings go nowhere: hiring decisions are delayed, the offer from HR that one is assured of after a promising interview fails to materialize or the right candidate remains elusive — as one can only infer when the same job opening is advertised week after week, month after month.

It doesn’t help that the Bureau of Labor Statistics recently reported the greatest plunge in hourly wages on record.

(more…)

Read Full Post »

She’s the world’s wealthiest woman you’ve never heard of and she’s saying something you probably wish you hadn’t: “Gina Rinehart, world’s richest woman, makes case for $2-a-day pay“,the Los Angeles Times reports.

The Australian mining heiress has a problem. The cost of running a mining operation in Australia cannot compete with Africans willing to work a continent away for $2 per day.

There’s a certain elementary logic to Rinehart’s argument. If the two nations are selling raw materials at vastly different prices because of vastly different costs of labor, her operation loses. In a worse-case scenario, it might not even make sense to go on operating. From Rinehart’s perspective, profit is the objective and benevolence is a job — never mind if the jobs she creates fails to compensate workers well enough to keep the lights on. She’s precariously positioned on that slippery slope so common to today’s political and trade debates: It could be worse: no jobs.

The world’s richest woman has a point. But it doesn’t pass the sustainable-future test.

(more…)

Read Full Post »

Older Posts »