Category Archives: Economy
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.”
Scroll down for video
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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 »
Some Democrats argue that Republican “obstructionism” and “constant DC infighting” is holding back the job market, but looking back at some of the most chaotic moments in Washington politics of the last 40 years, one sees that the job market continued doing just fine despite “infighting.” Heck, even with an economy 1/3 the current size and off the heels of the 1973 oil crisis, the US produced 1.3 million jobs in the 12 months leading up to Nixon’s resignation. Perhaps the two millions jobs of the last 12 months is not the best considering the current size of the economy, but that is at the feet of Obama’s weak economic policies. Infighting, as recent history shows, has nothing to do with it. See Chart Here Read more »
In a post on his Facebook page, former Massachusetts governor and presidential candidate Mitt Romney tears down Obama, on his prior claims that he built Obama care on the same platform as the Massachusetts’ Health Care system implemented by Romney. Here is what Romney wrote:
In the years since the Massachusetts health care law went into effect nothing has changed my view that a plan crafted to fit the unique circumstances of a single state should not be grafted onto the entire country. Beyond that, had President Obama actually learned the lessons of Massachusetts health care, millions of Americans would not lose the insurance they were promised they could keep, millions more would not see their premiums skyrocket, and the installation of the program would not have been a frustrating embarrassment. Read more »
The Dollar has continued to drop in value against the shekel and was traded at a two year low of 3.5328. The Euro also dropped slightly by 0.35% and was traded at 4.7209 NIS. The announcement of Larry Summers decision not to stand for the soon to be vacated position of head up United States Federal Reserve caused the weaknenig of the dollar. Summer’s had been US President Barack Obama’s choice for the position which will become vacant in January. – INN
Imagine the economy grows now at a rate of 3.4%; not a mere 1.5%.
Imagine the economy produced 236,000 jobs per month; not 192,000 per month.
Imagine the Unemployment Rate was at 5.1%; not 7.4%.
Imagine most jobs created are full time; not part time.
Imagine income was rising instead of being flat or contracting. Read more »
With the July jobs report in the bag, the Economy gained a net one million 613 thousands jobs under President Obama; using the math that says 23 million jobs were added under Clinton. While the Unemployment Rate fell to 7.4%, the average under Obama will be 6.9% even if the Rate drops next month to 4.5% and stays there until the end of Obama’s term. But few economists expected the UR to drop under 5% during Obama’s Presidency; certainly no one projects a sudden drop to 4.5% by next month.
The average Unemployment Under Bush was 5.8%; slightly above Clinton’s average of 5.3%. Read more »
Fox News: Most voters are unhappy with the way things are going in the country, and over half say they don’t see signs the economy has turned the corner, according to a Fox News poll released Wednesday. Those are two of the reasons why President Obama’s job approval remains below 50 percent – and hits a new low among independents.
Just 25 percent of independents approve of the job the president is doing, down from 31 percent last month… Read more »