Word: creditably
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...York Federal Reserve says the second round of TALF lending amounts to just two issues for $1.7 billion in loans, divided roughly equally between auto and credit cards. The $1.7 billion is well below the $4.7 billion in loans from last month. Fed officials say they will return after the holiday weekend to try and get a sense of why the subscription was so light. (Read "Doubts Raised About Government Plan to Boost Consumer Lending...
...capital flows that are in part the product of the dollar's special status. Global demand for dollars supplanted demand for U.S. products and services, argues Columbia University economist and longtime SDR fan Joseph Stiglitz, resulting in trade deficits, the decline of U.S. manufacturing - and years of supereasy mortgage credit. (Read "Is the Almighty Dollar Doomed...
...Outmigration Myth Those who battle illegal immigration make an attractively simple argument: Pressuring illegal immigrants will make them go away, thereby saving jobs for Americans. The enthusiasm for the prospect of a great outmigration is such that pundits and politicians began lining up early to take credit for it. Last summer the Center for Immigration Studies in Washington, which favors tougher enforcement of immigration laws, released a report with the somewhat triumphal title "Homeward Bound." Its authors argued that census data showed that approximately 1.3 million illegal immigrants had left the U.S. from August 2007 to May 2008. At that...
...taxpayers could realize all the upside once the economy recovers.) He believes in aggressive government stimulus as a way to address economic crises, and he likes the package passed by the Obama Administration, although he would have included a payroll-tax holiday and an expansion of the housing tax credit...
...takes an estimated 32.7 hours to complete a standard 1040 income tax form, according to the Internal Revenue Service, so it's no wonder that nearly two-thirds of Americans get professional help. The U.S. income tax code, replete with embellishments like the earned-income tax credit and the mortgage-interest deduction, is not even a century old; the 16th Amendment created the modern federal income-tax structure in 1913. But for years personal-income-tax business for accountants remained a trickle--in 1918, only 5% of Americans earned enough to file returns. After the IRS cracked down...