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Upsetment
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Long-building conservative anger at Export-Import Bank reaches boiling point

Long-building conservative anger at Export-Import Bank reaches boiling point | Upsetment | Scoop.it
Opposition to what many in tea party call a symbol of “crony capitalism” has been building for years.
Kenneth Weene's insight:

Should the U.S. government help export businesses finance their sales? Is that cronyism or is it good national policy? What would it do to businesses if they had to deal with the mega-banks instead? On the other hand, can unworthy companies, like Enron and Solyndra, take advantage of government support to effectively steal from the taxpayers? The underlying question is always how do we tame the government bureaucracy and make it serve the interest of the country instead of being its own monster.

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5 cautionary signs tucked into April's jobs report

5 cautionary signs tucked into April's jobs report | Upsetment | Scoop.it
At first glance, Friday's U.S. jobs report suggested that the agonizingly slow 5-year-old economic recovery had burst into a full sprint. Yet several cautionary signs emerged from the report, starting with that spectacular plunge in the unemployment rate. The government uses two surveys for the jobs report. The job gain comes from a survey of businesses, the unemployment rate from a survey of households. Yet the household survey, in calculating unemployment, found that 73,000 fewer people had jobs. Why did the unemployment rate sink? Because 806,000 fewer people were in the workforce. The unemployment rate typically drops when fewer people seek work: "When you have a robust economy, you don't get these mixed messages," said Douglas Holtz-Eakin, a former head of the Congressional Budget Office and now president of the conservative American Action Forum. If those 543,000 people combined had all started looking for work in April, the unemployment rate would be 6.6 percent â€" a dip from March's 6.7 percent, rather than the plunge to 6.3 percent. "Firms are hiring again, but we still need wages to rise faster if the economy is to really accelerate," said Joel Naroff, president of Naroff Economics.
Kenneth Weene's insight:

The economy is not doing better but not as well as it should be. Perhaps all those tax breaks and protections for big business and the wealthy really don't work. Perhaps overspending on defense instead of putting money into education and infrastructure is not the way to economic growth. Just perhaps.

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