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Is Another Stimulus Plan Really Necessary? Some Economists Don’t Think So

While Congress has seemingly shifted its focus from an additional stimulus package to further assist hard-hit industries, the topic has again been discussed in recent days. And while Democrats are continuing to push for additional stimulus checks and bailouts, there's some economic experts who think that an additional measures may not even be necessary at this time. Take it from Wall Street strategist Ed Yardeni, who believes that the U.S. economy will be able to improve enough this fall and into the winter that an additional package may not be necessary. His reasoning? He believes there's still enough funding from ...Continue reading

The 2019 Economic Boom is STILL a Strong Case for Trump’s Re-Election

Ask voters what is their top issue during this election year, and the unsurprising answer is all about their pocketbooks and bank accounts. In fact, voters in key swing states rank the economy as a tipping point in deciding the outcome of the next presidential election. As the economy rebounds from the coronavirus slump, the balance sheet of household wealth as published by the Board of Governors of the Federal Reserve System hit a record high. American households saw their collective net worth climb nearly 7% to $119 trillion during the April-June 2020 quarter. That rebound follows an astonishing record-setting ...Continue reading

Would You Watch Ads for a Cheaper Phone Bill? AT&T Thinks So

Would you be willing to watch an advertisement or look at a pop up ad for a few seconds every so often on your mobile phone if it meant you could save $5 to $10 a month on your cell phone bill? AT&T is betting that the answer - at least from enough of its customers to make it worthwhile - is "yes." It's a bold strategy that could dramatically change cell phone plans as well as usher in a much more targeted angle of advertising. If done correctly, it could serve as a win-win on multiple fronts. However, while ...Continue reading

The U.S. Budget Deficit SOARED in August — Highest Since World War II

The Bipartisan Policy Center recognizes that even “in times of economic growth, the federal government has run large and growing budget deficits, near $1 trillion per year.” That was before the COVID-19 pandemic. As lawmakers throw more deficit spending at the pandemic, “federal budget deficits are escalating to levels not seen since World War II.” The BPC’s deficit tracker forecasts a 2020 deficit growth to the end of FY 2020 at a whopping $3.3 trillion—three times the growth of the three previous fiscal years. In August 2020 alone, estimates from the Congressional Budget Office show the federal government spending $198 ...Continue reading

Some States Are Recovering Faster Than Others — Here’s Why

It seems that all we hear when we turn on the TV, open up the newspaper or log on to a news website is bad economic news because of the COVID-19 pandemic. And to be fair, the COVID-19 pandemic has caused a lot of bad news - especially from an economic perspective as millions of Americans have lost their jobs as business slowed or came to a halt. While the pandemic is only about six months old and is expected to last for several more months before life gets back to some resemblance of normal, there is good news to ...Continue reading

Workers Are Waiting Too Long to Start Saving for Retirement

Wage earners pay 6.2% of their salary in social security taxes. Employers kick in that same amount. The bad news is that the benefits that accrue from a lifetime of paying into Social Security won’t be enough to support anyone’s retirement lifestyle. Of course, Social Security was never intended to be the only source of our retirement income. It will only cover about 40% of anyone’s retirement expenses. The remaining 60% must come from private pensions and retirement savings. The actual dollar amount that the individual retiree must cover is a matter of lifestyle and personal preferences. What is not ...Continue reading

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