Speaking at the University of Michigan on Monday, Federal Reserve Chairman Ben Bernanke urged the United States Congress to raise the debt ceiling and not use a possible default to make spending cuts to the federal budget. Bernanke made the case that raising the debt ceiling does not create deficits and it does not initiate […]
Archives for January 2013
U.S. Treasury will not mint $1 trillion platinum coin to deal with debt
Anthony Coley, a spokesperson for the United States Treasury Department, issued a statement to the Washington Post on Friday that confirmed that the Treasury will not be minting a $1 trillion platinum coin to evade the debt ceiling. Even if the Treasury Secretary ordered the department to do it then the Federal Reserve would not […]
Republican-controlled states could cut or end state income, corporate taxes
The federal tax code doesn’t look like it will be reformed in Washington anytime soon, but more than a dozen states that are controlled by Republican governorships and legislatures are looking to initiate tax reforms, such as cutting or ending state income and corporate taxes. One of the latest pushes to move ahead with these […]
Jack Lew appointment sets tone for Obama economic policy
The appointment of Jack Lew as Secretary of the Treasury is a crucial event in the evolution of the ongoing financial collapse, and this would be the case no matter who the president selected. From the time the short list became public knowledge last summer, this writer has believed that ultimately Lew would get the […]
Larry Kudlow: Jack Lew nomination for Treasury was a ‘nutty appointment’
Speaking on the Laura Ingraham radio show Thursday, CNBC host Larry Kudlow called President Barack Obama’s nomination of Jack Lew to head the Treasury Department a “nutty appointment.” The president made the official announcement at the White House on Thursday. Lew, the White House Chief of Staff, would replace exiting Treasury Secretary Timothy Geithner, who […]