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If you are a federal worker on furlough this week — or an airline passenger delayed by federal furloughs — you might want to save your blood pressure and go read another story. This one is about all the money the U.S. government spends on .?.?. nothing. It is one of the oddest spending habits in Washington: This year, the government will spend at least $890,000 on service fees for bank accounts that are [...] LOS ANGELES (CBSLA.com) — Work furloughs involving air traffic controllers caused headaches around the nation for passengers Sunday. Flights were delayed in many large hubs — up to three hours for some passengers. LAX was also affected. The FAA’s website reported a “traffic management program” at LAX is causing “some arriving flights to be delayed an average of 3 hours and 7 minutes. To see if you may be affected, select your departure airport and [...] Kathryn Buschman Vasel The IRS will issue official furlough notices next week to employees detailing that the agency will be closed for five days with unpaid leave for workers this summer because of the sequester. In a memo to employees, IRS Acting Commissioner Steve Miller said the furlough days will be May 24, June 14, July 5, July 22 and Aug. 30 with two additional days possible in August [...] APNEWSBREAK: PENTAGON CUTS NUMBER OF FURLOUGH DAYS Read more @ AP from kimblechartingsolutions: CLICK ON CHART TO ENLARGE Sometimes it pays to get lucky! Was the car lucky in the above photo? When it comes to potential “close calls” the price action on a weekly basis in the S&P 500 ETF (SPY) might not get any closer! The “weekly” closing high last week was within 50 cents of the weekly closing high back in 2007! Odds are low that this unique will stay, yet if it [...] Salmonella outbreaks. E. coli outbreaks. Millions of dollars in economic losses. These are among the scenarios the Obama administration warned about last month as it claimed the sequester would force the U.S. Department of Agriculture to furlough meat inspectors. But while the administration prepares to take that step, it continues to pursue a “partnership” with the Mexican government to “raise awareness” about food stamps among immigrants from that country. When a top [...] President Obama says he’s not the one who canceled the White House tours. He made the comments in an interview with ABC News. “[O]ne more question about the spending cuts,” said the interviewer from ABC News. “You’ve been takin’ a lotta heat for this cancellation of the White House tours. They get– the Secret Service says it’s costs about $74,000 a week. Was canceling them really necessary?” “You know, I have to [...] Allyson Blair
CBS 5 – KPHO Soon 60,000 Customs and Border Protection agents could be told to stay home. Furlough notices went out late last week to agents in Arizona and across the country. Art Del Cueto is the president of the Tucson Custom and Border Protection Union. He represents 3,500 members. “There is a lot of confusion right now with the agents not knowing what’s going to happen,” said Del [...] President Obama touted it in 2010 as evidence “manufacturing jobs are coming back to the United States,” but two years later, a Michigan hybrid battery plant built with $150 million in taxpayer funds is putting workers on furlough before a single battery has been produced. Workers at the Compact Power manufacturing facilities in Holland, Mich., run by LG Chem, have been placed on rotating furloughs, working only three weeks per month [...] Updated: July 15, 2011 12:55PM Mayor Rahm Emanuel is sending layoff notices to about 625 city of Chicago employees after union leaders didn’t agree to work-rule changes the mayor wants or offer alternate ways to cut costs by a deadline Friday. He’s also delaying 61 blocks of curb and gutter improvements and 76 blocks of sidewalk repairs. “My duty as mayor is to protect our city’s taxpayers and be [...] 1) Greek, Irish, Portuguese Note Yields at Records “The yield on Greece’s two-year notes surged 118 basis points to 32.39 percent as of 12:58 p.m. in London, and earlier reached 34 percent. Ten-year Greek yields rose 36 basis points at 17.44 percent.” “Ireland’s two-year note yield was 84 basis points higher at 22.16 percent, a euro-era high. Spanish 10-year bond yields rose six basis points to 5.92 percent while [...] Miami, which counted on $10 million in fines from motorists caught on camera running red lights, is planning to furlough some workers in part because penalties didn’t come close to forecasts as drivers began obeying the law. Houston, where voters banned cameras in November, will receive about $10 million less than anticipated and faces a potential claim from supplier American Traffic Solutions Inc. for canceling a contract. The Los Angeles Police [...] Cliff Ker, L.A. Unified’s Academic Decathlon coordinator since 2000, will split his duties next year between the decathlon and working as an assistant principal at Bell High School. [...] The Clark County School District Board unanimously approved its fiscal 2012 budget on Wednesday, bridging a $407.4 million shortfall by laying off 1,834 school district employees. The approved budget is based on updated tax revenue projections from Nevada’s Economic Forum expected to bring in $69.1 million more than originally estimated. If that money does not comes through, an additional 1,000 positions might have to be cut. The [...] ASHEBORO, N.C. (WGHP)— Employees and the Randolph County school board are at odds over how to cut next year’s budget. The proposed budget includes two options that would affect all employees: a one-day furlough for employees making $35,000 a year and a 1 percent, across-the-board drop in supplements. The Randolph County Association of Educators seems to be favoring the furloughs, as they are worried that the supplemental pay would not [...] WASHINGTON – Perilously close to a government shutdown, President Barack Obama and congressional leaders reached a historic agreement late Friday night to cut about $38 billion in spending and avert the first federal closure in 15 years. Obama hailed the deal as “the biggest annual spending cut in history.” House Speaker John Boehner said that over the next decade it would cut government spending by $500 [...] by Sax 1) Malloy tells agencies: Prepare for layoffs (CT) “Malloy’s negotiating team wants to obtain $1 billion a year for a biennial budget that’s in a record deficit. Unions representing 43,000 workers in 31 bargaining units have been asked to consider several savings for the state, including paying more for insurance, making higher payments into their pensions, taking additional furlough days and raising the retirement age. While [...] 1) “Enron Accounting” Has Bankrupted America: U.S. Deficit Really $202 Trillion, Kotlikoff Says (Tech Ticker Video) ““Forget the official debt,†he tells Aaron in this clip. The “real†deficit – including non-budgetary items like unfunded liabilities of Medicare, Medicaid, Social Security and the defense budget – is actually $202 trillion, the professor and author calculates; or 15 times the “official” numbers. “Congress has engaged in Enron [...] New York faces a fiscal crisis, with a balanced budget six weeks overdue. An ongoing stalemate will damage the state’s AAA credit rating. Your best chance to short the Empire State is next week when $510 million of bonds go on sale. It’s gonna be a LONG hot summer! Via businessinsider.com 1) Since April 1, the state has operated on week-to-week emergency spending bills 2) Paterson will furlough 100,000 state employees for one day [...] P.S NYS passed the budget extension that included the furlough of state workers tonight, this hits close to home, as my husband works for the local NY state college. We are lucky to have two incomes, and have always been careful to live within our means, so we will be OK. But we have friends/coworkers who are in tougher financial situations, who are pretty upset and scared about the [...] |
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