Category Archives: Economy
On Friday, Republican gubernatorial candidate Rob Astorino seized the opportunity to blast Gov. Andrew Cuomo for this week’s Department of Labor jobs report that showed a 0.1 percent increase in the State’s unemployment rate.
“You don’t need yesterday’s jobs numbers to understand the answer. You just have to ask your neighbors wherever you live in New York. They know and so do you probably,” Astorino said in an online video. “New Yorkers continue to get hammered by government policies poisonous to economic growth.” Read more »
A highly popular former Likud minister credited with revolutionizing prices in Israel’s communications market, Moshe Kahlon announced Tuesday he is returning to politics, forming a centrist-socioeconomic party to run in the next Knesset elections.
“I have decided to return to politics,” Kahlon, 54, told Yediot Ahronoth on Tuesday. “I just don’t know with which framework yet… I have an issue with returning to the Likud as it is today.” Read more »
A top aide to Governor Andrew Cuomo offered Thursday some harsh words for good-government groups upset that the budget compromise dismantled the anti-corruption Moreland commission and offers only a limited system of public campaign finance.
“When you grow and you add jobs, it benefits everybody,” Larry Schwartz, Cuomo’s secretary told WNYC’s Brian Lehrer. “It means additional revenue into the budget, and that revenue gets to be used to spend on programs that help the poor, that help the homeless, that help the working class.”
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The Israeli government approved Sunday a proposal by Interior Minister Gideon Sa’ar to set unique entry visas to American investors who seek to visit Israel frequently for business. The arrangement is a part of an experimental program in which Israelis seeking to invest in the US and wish to stay there temporarily in order to develop and manage their business, will be given similar special conditions.
The American embassy in Israel conditioned the approval of the plan by requiring the granting of benefits to American investors in Israel. Read more »
On Friday, S&P reaffirmed its A+ rating with a “Stable” outlook for Israel. It says that Israel’s fiscal consolidation is on track, economic growth is steady, and that the debt-to-GDP ratio has fallen. This is the second time that S&P has reaffirmed its credit rating for Israel since company representatives visited Israel in August 2013.
S&P estimates that the growth in Israel’s GDP per capita places the country in the group of high-income earning countries with a growth rate at the upper limit of the comparison with Israel’s peers. It expects real GDP growth of 3.2% in 2014 and 3.4% a year in 2015-17, because of the expected recovery in Israel’s export markets. Read more »
Majority Leader Eric Cantor (R., Va.) said that Obamacare is the source of the wage crisis the president is attempting to address with a steep minimum wage increase.
“In 2013, President Obama supported a $9 minimum wage. This year, he proposed a $10.10 minimum wage, which at the federal level turns out to be an increase roughly equal to the amount of wages a minimum wage employee would lose if they had their hours cut by 25 percent, as is happening under one provision of Obamacare,” he said in a blog post on Thursday. Read more »
Israel Prime Minister Benjamin Netanyahu flew to California on Wednesday where he had a full day of business meetings, largely focused on the tech industry. Here are some key videos of his day:
Bibi signs trade deal with California Governor Jerry Brown:
Direct Link to You Tube
Bibi meets with the Founders of Whatsapp:
Direct Link to the Above Video
Bibi visits the HQ of Apple welcomed by its CEO:
Direct Link to the Above Video
Prime Minister Binyamin Netanyahu is scheduled to meet next week in Silicon Valley with a number of leading high-tech figures, including Jewish WhatsApp co-founder and newly-minted billionaire Jan Koum. In addition, Netanyahu will have meetings next Wednesday with heads of Apple, Flextronics, Linkedin, Ebay and the Sequoia Venture Capital fund. Netanyahu has made promoting Israeli high-tech and turning the country into a cyber security hub a top priority. Read more »
Senate Majority Leader Harry Reid (D-Nev.) on Tuesday announced he will delay action on legislation raising the minimum wage, the centerpiece of the Democrats’ 2014 agenda, The Hill reported.
Reid’s announcement comes in the wake of a Congressional Budget Office report released last week estimating that hiking the minimum wage to $10.10 an hour could cost as many as 500,000 jobs. Read more »
California and Texas are this Country’s largest states by population. Both are of the largest States geographically; both are along the Border with Mexico, and both suffered through the politically-hyped 2008 economic meltdown. The difference of the two states? One is run by Liberals and the other by Conservatives.
Results? Read more »
President Obama’s call to raise the federal minimum wage could help lift 900,000 workers out of poverty, but at a cost of as many as 500,000 jobs, according to an analysis released today by the non-partisan Congressional Budget Office, USA Today reported on Tuesday.
The White House and congressional Democrats–who are seeking to make a federal minimum wage hike a top issue in the 2014 elections–took issue with the politically sensitive report and said CBO’s findings are inconsistent with the prevailing view among economists that raising the minimum wage does not impact employment. Read more »
In an online video posted on Feb. 17 to his own account on You Tube, Sen. Marco Rubio (R-Fl) said the five year mark of the Stimulus plan just proves that Big Government is not the answer.
“Today is the fifth anniversary of the failed stimulus program. If you recall five years ago, the notion was that if the government spent all this money, which by the way is borrowed, that somehow the economy would begin to grow and create jobs. Well, of course it clearly failed,” Rubio said.
Video in extended article
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While browsing twitter last week, I came across this tweet by CNN’s @Crossfire: “Does raising the minimum wage help the economy? Reply now with Yes or No”. This isn’t the first time this issue has been raised. It has actually been raised quite a lot in the past few weeks. In fact, President Obama at the State of the Union address declared that he will raise the minimum wage for federal workers through executive action. Many Democrats have followed his proposal by engaging States and Cities and making the 2014 mid-term elections about the ‘minimum wage’ issue. But being the fact that CNN asked this question publicly, I figured let me go ahead and check what the responses from fellow Americans were.
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House Democrats said Thursday they will try to highlight GOP resistance to a higher minimum wage with a tactical maneuver meant to bring new attention to an issue they consider a political winner, Newsmax reports.
House Democratic leader Nancy Pelosi said her party will push a “discharge petition” when Congress returns from its recess on Feb. 24. If Democrats can persuade roughly two dozen Republicans to sign the petition, it would force GOP leaders to allow a House vote on the wage issue. Read more »
While most voters give President Obama a passing grade on the economy, nearly three times as many think he deserves an “F” as say he should get an “A,” according to a new Fox News poll.
Meanwhile, the poll also finds an increasing number of voters think the worst is yet to come for the economy. Read more »
As President Obama starts his sixth year in office, his job ratings remain near record lows and more voters think his policies have hurt rather than helped the economy. And even as voters continue to hold mostly negative views on the economy and the direction of the country, a new Fox News poll finds they see some improvement.
A third of voters say they like both Obama and his policies — a dramatic drop from 47 percent who felt that way in October 2012. In addition, 62 percent now say they dislike the president’s policies, up from 51 percent the month before his re-election. Read more »
Politico: House-Senate negotiators rolled out a $1.1 trillion spending bill Monday night — a giant package that fills in the blanks of the December budget agreement and promises to restore some order to government funding over the next year.
Under pressure from Republicans, the measure keeps a tight rein on new funding for Wall Street regulators and effectively freezes appropriations for President Barack Obama’s healthcare program at the reduced, post-sequester level. Read more »
Yes the Unemployment Rate dropped to the lowest number since late 2008, but all major news networks (including CBS but no video available) agree that it’s bad news. See the Video Reports: Read more »
Washington D.C. – Bloomberg News is reporting that President Obama is expected to nominate Stanley Fischer, Lael Brainard, and Jerome Powell to the Federal Reserve today, Business Insider reports.
Fischer, the former governor of the Bank of Israel, is Obama’s choice for Fed vice chairman.
“These three distinguished individuals have the proven experience, judgment and deep knowledge of the financial system to serve at the Federal Reserve during this important time for our economy,” Obama said in a statement. Read more »
The American Dream of trying to succeed and make money has been vilified, and the push to increase the minimum wage reinforces that “unhealthy” message, especially for Main Street, venture capitalist Kevin O’Leary told CNBC said Tuesday.
“This minimum wage debate is insane,” said O’Leary, who is known as “Mr. Wonderful” on the reality show “Shark Tank.”
“Can you imagine any way that would help a small business? It’s crazy,” he said on “Squawk Box.”
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Janet Yellen, a key force behind the Federal Reserve’s unprecedented and controversial efforts to boost the U.S. economy, was confirmed by the Senate on Monday to lead the central bank just as it begins to unwind that stimulus, Fox Business reports.
When she succeeds Ben Bernanke, whose second four-year term as Fed chairman expires on January 31, Yellen will become the first woman to run the Fed in its 100-year history and just one of a handful of women heading central banks globally. She is currently the Fed’s vice chair. Read more »
The most recent rebellion withing the GOP over the bipartisan Ryan/Murra budget has caused House Speaker John Boehner to come swinging against the Tea Party wing of the Republican Party. The speaker flew off the handle and bitterly criticized groups like Heritage Action and FreedomWorks for threatening GOP lawmakers who vote for the Murray-Ryan budget pact. Read more »
TPM reports: Sen. Marco Rubio (R-FL) released a statement opposing the budget agreement reached by Sen. Patty Murray and Rep. Paul Ryan (R-WI), calling the deal “irresponsible.”
“We need a government with less debt and an economy with more good paying jobs, and this budget fails to accomplish both goals, making it harder for more Americans to achieve the American Dream,” Rubio said in a statement. “Instead, this budget continues Washington’s irresponsible budgeting decisions by spending more money than the government takes in and placing additional financial burdens on everyday Americans.” Read more »
Sen. Rand Paul, in an interview on “Fox News Sunday,” rebuffed President Obama’s call to extend long-term jobless benefits, saying the program is creating a group of “perpetual unemployed.”
“While it seems good, it actually does a disservice to the people you’re trying to help,” Paul, R-Ky., said. Read more »