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The Fed's announcement that it would keep interest rates at nearly zero until unemployment falls below 6.5 percent was, by most measures, good news. Although cheap money has proven to be no great solution to a weak economy, it has had some positive effects. Just ask anyone who has managed to refinance their home and now has extra spending money every month.
Nearly lost among discussions of tax increases and entitlement cuts, long term unemployment benefits are in danger of falling off the edge of fiscal cliff negotiations. Benefits for approximately 2.1 million Americans who have been out of work for more than six months are set to expire at the end of December. This is not only bad news for those 2.1 million, but for the economy as a whole.
The Co-Chairs of the Massachusetts Special Joint Committee on Redistricting today issued a report reviewing their accomplishments and their recommendations on issues they discovered while redrawing the Massachusetts district lines.
To hear the media tell it, all eyes are on the fiscal cliff. Which side is compromising and which side isn't? Which side's numbers add up? How can votes in the House and the Senate be structured for maximum political gain? What will the deal ultimately be? And, most important, which side will win and which side will lose? Is this great drama gripping the entire nation? Actually, only Washington and the media are transfixed.
We all know that smokers and drinkers cost our healthcare system a fortune thanks to their self-destructive behavior. So it makes sense to heavily tax cigarettes and booze as a way to bring down the deficit or fund government healthcare programs. Right?
Well, no.
In fact, the economic case for so-called "sin taxes" is highly questionable -- quite apart from whether such taxes tend to be regressive, hitting lower-income Americans the most.
Eric Scheiderman is leading a seven state coalition to bring suit against the EPA for failing to address methane emissions from the oil and gas industry -- a violation of the Clean Air Act.
Attorney General Eric Holder was in Boston yesterday, speaking at the Kennedy Library about voting issues. His speech covered a number of topics, but one part that jumped out to us was Holder's embrace of shifting the responsibility to register voters away from individuals and to government through a system of automatic voter registration.
The airwaves are once again crackling with the saga of crime and punishment in the international banking sector. HSBC has been penalized $1.92 billion for money laundering in the service of rogue states, but has engaged in even more money laundering for Mexican and Colombian drug cartels. It is reported that a Mexican drug lord was taped saying that, if you are interested in laundering your money, HSBC is the place to go. Can’t this get onto Saturday Night Live as a spoof ad for HSBC?
The Coalition for Sensible Safeguards has produced a report detailing five areas in which protections significantly help make the December and New Year festivities a safer and more joyful experience.