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The best way to have a good idea is to have a lot of ideas.
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Author Archives: Martin Crutsinger
Consumer borrowing surges as economy improves
Americans are feeling confident enough in the economy to go back to a time-honored tradition — taking on a little extra debt. Consumer borrowing surged in November by $20.4 billion, the Federal Reserve said Monday, January 9. It was the third straight increase and the largest monthly gain in a decade. Read More
Fed dims outlook for jobs and growth for 2011
Federal Reserve officials are more pessimistic about prospects for economic growth and employment than they were two months ago. Read More
Consumer spending and incomes rose in February
Americans earned a little more and spent a little more in February, thanks to a tax cut. But a big part of the extra money went to cover higher gas prices.
Consumer spending jumped 0.7 percent last month and personal incomes rose 0.3 percent, the Commerce Department said. Both gains reflected a Social Security tax cut, which boosted take-home pay. Still, high gas prices soaked up much of the spending increase. Read More
More confident consumers break out credit cards
Americans are putting more money on their credit cards after more than two years of cutting back, a sign that they are gaining confidence in the economy.
The first increase in credit-card debt since the financial crisis hit helped to boost overall consumer borrowing 3 percent in December, to a seasonally adjusted annual rate of $2.41 trillion, the Federal Reserve said Monday, February 7. It was the third straight monthly gain. Read More
2010 ends as 2nd worst year for home construction
U.S. homebuilders are coming off their two worst years in more than a half-century, and the outlook for this year is only slightly better.
Economists say it could take three more years before the industry begins building homes at a healthy rate. In the mean time, the housing downturn is dragging on the broader economy, with one-quarter of the jobs lost since the recession began in the construction field…read more Read More
Soon the government check won’t be in the mail
Before too long, the government check will no longer be in the mail.
Officials have settled on the dates when millions of people will no longer be able to get their Social Security and other benefit checks by mail.
New recipients of benefits will have to accept paperless payments starting on May 1 of next year, three months later than first proposed.Those already on Social Security will have until March 1, 2013 to make the switch…read more Read More
AP analysis: Economic stress falls to 18-month low
Job gains around the country offset higher foreclosures and helped reduce the nation’s economic stress in October to an 18-month low, according to The Associated Press’ monthly analysis.
Stress fell in 56 percent of the roughly 3,100 U.S. counties analyzed and in 28 of the states, the AP’s Economic Stress Index shows. Demand overseas for U.S. semiconductors and strength in technology companies have helped lower unemployment…read more Read More
China’s holdings of Treasury debt rise in August
China, the largest holder of U.S. Treasury debt, increased its holdings for a second straight month in August, after two months of declines . . . read more Read More
Gov’t to expand rules for tracking money transfers
The Obama administration is proposing that banks report all electronic money transfers in and out of the country, expanding its anti-terrorism requirements for financial institutions.
Officials at the Treasury Department’s Financial Crimes Enforcement Network said Monday, September 27, that the new requirement would . . . read more Read More
US budget deficit on pace to hit $1.3 trillion
The federal government is on track to record the second-highest deficit of all time with one month left in the budget year.
The deficit totaled $1.26 trillion through August, the Treasury Department said Monday, September 13. That puts it on pace to total $1.3 trillion . . . read more Read More
Fed officials discussed further stimulus steps
Federal Reserve officials signaled at their August meeting that they would consider going beyond a modest program to purchase government debt if necessary to boost the economy.
Minutes of the Fed’s discussions from the Aug. 10 meeting show the central bank recognized that the economy could need further stimulus beyond the debt purchases. Those are intended to lower interest rates on a range of consumer and business loans . . . read more Read More
Geithner pledges quick action on financial rules
Treasury Secretary Timothy Geithner says the Obama administration will move quickly to implement new financial regulations while eliminating those that are outdated . . . read more Read More
Less spending by Americans could slow recovery
Americans are pulling back on their spending, a trend that could slow the economic recovery if it continues.
A sharp drop in retail sales points to still-wary shoppers and could lead economists to curtail their expectations for growth.
Analysts cautioned against overreacting to Friday’s, June 11, Commerce Department report. It could signal a return to . . . read more Read More
IRS issues rules for health tax credits
The Internal Revenue Service on Friday, May 21, released the guidelines that small companies can use to apply for tax credits to spur medical research.
The credit will cover up to 50 percent of the cost of qualifying biomedical research, up to a maximum credit of $5 million per business. The credit is only available to companies with fewer than 250 employees . . . read more Read More
