The Federal Reserve has done a lot to help keep our economy afloat. It has cut interest rates to unprecedented low levels, bought billions of dollars of corporate IOUs, helped stabilize the debt markets and helped rescue a stock market that had begun falling sharply in mid-February when the covid-19 recession started and had seemed headed for a crash.
The Federal Reserve has done a lot to help keep our economy afloat. It has cut interest rates to unprecedented low levels, bought billions of dollars of corporate IOUs, helped stabilize the debt markets and helped rescue a stock market that had begun falling sharply in mid-February when the covid-19 recession started and had seemed headed for a crash.
Conservative think tank the Manhattan Institute is calling for New York City to reform its public retirement system, including by ditching its defined benefit (DB) plan for a defined contribution (DC) plan, saying the pension system is “on an unsustainable path.”
Chicago alderman kicked off a series of budget hearings Monday to discuss Mayor Lori Lightfoot’s 2021 spending proposal, which includes an increase to the gas tax, higher property taxes, furloughs and possible layoffs.
The federal government has enacted four pieces of legislation that provide relief to individuals and corporations that have been affected by the COVID-19 pandemic.
During his 2016 presidential campaign, Donald Trump — even though he had dubbed himself “the king of debt” — promised to slash the mounting national debt until it was completely eliminated within eight years. Four years on, how’s that going? Not well.
Imagine 100 people on a wholly deserted island. Life would be pretty dreadful, right? With only 100 people producing, work would be endless in return for very few of life’s comforts.
