Category: Economy

According to a recent study, states that voted for Joe Biden in the 2020 Presidential election lost more than twice the number of jobs during the pandemic on average than states who voted for Donald Trump. According to a report from the Daily Mail, states that voted for Biden on average lost 6.2 percent of jobs, while states that voted for Trump only lost 2.5 percent of jobs. The Daily Mail analysis cites one of the main reasons for the difference in job loss rates could be the varying severity of…

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Just how much are all those stories about crippling student debt having on college campuses? You have only to ask post-millennials now trying – although not always successfully – to avoid being saddled with the same heavy burden of debt as their predecessors. Not only did 83 percent of current college students surveyed consider what their total costs would be before matriculating – just 69 percent of recent graduates had such foresight – but 39 percent of them said the potential price tag was such “a huge factor” that they…

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The best economic stimulus plan that Uncle Sam can provide is to NOT take away so much money from the hard-working American taxpayer.  Increasingly heavy tax burdens eventually bring down the economy.  We have more than enough examples throughout the world – and throughout history. We have a lot of different forms of taxes, but they all reach into one pot – the productivity (wealth) produced by a working individual.  Call it an income tax, a property tax, a sales tax, etc., etc., etc., but they all are paid from…

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When President Trump signed the year-end spending and pandemic relief packages last week, lawmakers promised to consider his demand to increase the next round of stimulus checks from $600 to $2,000. House lawmakers approved the increase with a vote of 275-134, with 44 Republicans joining Democrats in support of larger checks. Senate Majority Leader Mitch McConnell (R-KY) rejected the House bill and introduced his own package that offers $2,000 stimulus checks. But it also overturns Section 230 of the Communications Decency Act and sets up a commission to study voter…

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President Trump on Tuesday criticized the COVID relief package lawmakers announced Sunday, demanding they increase stimulus checks to $2,000 (up from $600 specified in the bill). “Throughout the summer, Democrats cruelly blocked COVID relief legislation in an effort to advance their extreme leftwing agenda and influence the election,” argued Trump in a blistering video posted to Twitter. “The bill they are now planning to send back to my desk is much different than anticipated. It really is a disgrace…It’s called the COVID relief bill, but it has almost nothing to…

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The Broadway League has announced yet another extension of the stage shutdown in New York City. The organization confirmed that it is suspending ticket sales and performances through May 30, 2021. This marks more than a year of COVID-19-induced delays before live theater productions can return, according to a Twitter announcement on Friday.  Ticket-holders should contact their point of purchase for exchanges and refunds. Tens of thousands of livelihoods ruined “With nearly 97,000 workers who rely on Broadway for their livelihood and an annual economic impact of $14.8 billion to…

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A group of 16 Republican senators has endorsed giving more money to airlines to avoid layoffs right before the November election, giving a boost to a lobbying effort by airlines and their unions. The GOP senators did not specify an amount on Wednesday, but a proposal by several airline unions would give the hard-hit aviation industry $32 billion, including $25 billion for passenger airlines. Airline stocks rose. American Airlines, viewed as financially the most troubled among the major airlines, gained the most, closing up 9.5% The senators said they support…

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Things have certainly gotten really crazy here in 2020.  First we witnessed the eruption of the worst global pandemic in 100 years, then the U.S. economy started collapsing, and then we watched major U.S. cities burn from coast to coast as rioting and looting spiraled out of control.  Everywhere you look, people are very angry and deeply frustrated, nearly 46 million Americans have filed for unemployment benefits over the past few months, and fear of COVID-19 continues to paralyze our society to a frightening extent.  But can this really be called the…

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April was the second consecutive month of job losses for the U.S. economy following the record 113 months run of expanding employment rolls. Economists had forecast that the economy would lose 21 million jobs and that the unemployment rate would climb from 4.4 percent to 16 percent. So the April figures were better than expected. March’s job losses were revised up from a loss of 701,000 to 870,000. February, which saw job gains, was revised down by 45,000 from 275,000 to 230,000, a reminder of how just how strong the jobs…

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