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Economy

Obama’s Proposed Investment in American Infrastructure

by Luke Landes

President Obama proposed yesterday spending more than $50 billion over the next six years to modernize the transportation infrastructure in the United States. He is calling for renovations to or creation of 150,000 miles of roads, 4,000 miles of rail, and 150 miles of airport runways. The $50 billion would be an up-front cost, paid […]

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Don’t Like That Political Ad? Click On It.

by Smithee

I recently learned of a sort of fun game that you can play with the political establishment, regardless of whose ideas you want to be represented in Government. Maybe it’s the websites I frequent, but it seems like I’ve been seeing advertisements on many of them on a regular basis for more than two years. […]

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New Financial Regulations in the Wall Street Reform Law

by Luke Landes

Updated: The media are calling the new Wall Street Reform Law, recently signed by President Obama, the most significant reform of the financial industry since the Great Depression. It looks to tighten the reins on a industry that helped cause the recent recession by requiring the Federal Reserve to create and enforce regulations on the […]

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Wall Street Reform Bill Passes Senate

by Luke Landes

In December of last year, the House of Representatives passed a bill designed to reform the financial industry, introducing more consumer protection and more regulation of Wall Street firms and other financial businesses. The Senate also tackled the controversial topic of financial reform, passing its own version of the bill yesterday. Though not an attractive […]

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GM Used Bailout Funds to Repay Loan: Mostly Irrelevant

by Luke Landes

Update: According to news reports, GM paid back one loan in order to qualify for a new government loan at a lower rate. This basically negates my original opinion regarding the loan repayment announcement. Read further at your own risk. Ever since General Motors announced that it paid back its $6.7 billion government loan, a […]

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Basics of the Financial Crisis Responsibility Fee (Bank Tax)

by Smithee

Yesterday, President Obama put forth a proposal to recover a projected shortfall in TARP repayments. When the TARP was created, the EESA statute specified that the president would need a plan before 2013 to avoid shortfalls that would add to the deficit. Instead of 2013, we got one this week. Is it a good plan? […]

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New Stimulus Plan: The Fiscal Menace or The Economy Strikes Back?

by Luke Landes

(Or perhaps Episode IV: Obama’s New Hope.) In a few weeks the Senate will be debating another stimulus plan. This one is billed as a jobs creation package with a $154 billion price tag. It’s an extension of the American Recovery and Reinvestment Act of 2009, and its purpose is to increase public funding for […]

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Obama’s New Job Boosting Ideas

by Smithee

President Obama gave a “major speech” today (out of curiosity, can anyone tell what makes a speech major?) outlining several new proposals for boosting job creation and ensuring job stability. More than 90 percent of all economic indicators point to a recovery already in progress, but unemployment, even though it went down in a dramatic way […]

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Initial TARP Recipients are 57% Repaid

by Smithee

With the news that Bank of America hurried up a sale of securities in order to pay back their TARP loan, the story of the many billions loaned to the “big banks” has reached an interesting turning point: they’re now more than half paid back, 57 percent to be precise. Here’s the breakdown of the $165 […]

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GMAC Asking for a Third Bailout From Taxpayers

by Luke Landes

Through today, GMAC has received government bailout funds totaling $12.5 billion. The company is asking the Obama administration for $5.6 billion more. One might say that in a true democracy, GMAC would need to ask permission from each taxpayer whose funds would go towards shoring up the company’s balance sheet, a move that would make […]

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