Economy

Come Help Create a Vision for Public Education in TX

What should public education look like in the years to come? What should the role of schools be in our communities, how should our achievement be measured, where do we focus our resources, and how do we best prepare our children for a life of learning and a productive career or path?
These are just some of the questions Texas AFT will explore in a series of statewide meetings designed to be a dialogue with educators, parents, and all community members to help craft a vision for public education.
Be a part of a community conversation to identify how to improve our public schools in the...
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Let Texans Answer Gambling Question

This week, John T. Montford, the spokesperson for Let Texans Decide, published an op-ed in the Austin-American Statesman calling for Texans to demand the right to vote on legalized expanded gambling in the state.
Each year our fellow Texans spend more than $2.5 billion in strategically placed, just-across-the-border gaming facilities in Oklahoma, Louisiana and New Mexico. The potential benefits to our economy are huge. Depending on the specifics, expanded gaming could create 75,000 permanent jobs in 40 different sectors of the economy, and it would bring several billion dollars in economic development to Texas.
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Romney's Phony Answers To Tough Health Care Questions

During last week's debate, GOP presidential nominee Mitt Romney once again pledged to repeal Obamacare, but he was light on details about what he would replace it with, other than to suggest that his administration would encourage states to come up with reform plans of their own.
"What we did in Massachusetts is a model for the nation, state by state,"
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Auto Sales Highest in Over 4 Years... Even Higher Than During 'Cash for Clunkers'

New car sales are rising. In September 2012, auto sales were at their highest level since February 2008, including August 2009 when the government’s “Cash for Clunkers” program caused a temporary spike in sales.
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QE Infinity: Doubts Surface From All Sides

 QE3, the Federal Reserve’s third round of quantitative easing, is so open-ended that it is being called QE Infinity. Doubts about its effectiveness are surfacing even on Wall Street. The Financial Times reports:
Among the trading rooms and floors of Connecticut and Mayfair [in London], supposedly sophisticated money managers are raising big questions about QE3 — and whether, this time around, the Fed is not risking more than it can deliver.
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MI State University Study Finds 40% Of Manufacturers Are Bringing Jobs Back to the US

What does this study prove? It proves that President Obama is NOT pushing business away as the Republicans would have you believe. Why would a corporation come back to the United States when a President is so anti business?
The study found that 40 percent of manufacturing firms believe there is an increased movement of “reshoring” – or moving manufacturing plants back to the United States from countries such as China and India. While the results differed by industry, the trend was led by aerospace and defense; industrial parts and equipment; electronics; and medical and surgical supplies.
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Akin's Ad Claiming McCaskill Got Rich on Stimulus Money Falls Flat on the Facts

Todd Akin is out with a fanciful new ad. In it he claims that, "federal stimulus spending 'made McCaskill rich.'" (Not to distract from the main point, but wasn't she rich before the stimulus?) Apropos the ad, Akin asserts:
... Claire McCaskill is on record for going through the stimulus line by line, and stated that the stimulus was solely for creating jobs and stimulating the economy, [...]. Now we know that McCaskill's family business received $1 million of taxpayer money from the stimulus bill that she voted for. I voted against this bill because I did not believe it would help the economy and because pork-barrel spending can neither stimulate the economy nor create jobs.
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Researchers: Current System Inflates CEO Pay Beyond Merit

There is a theory in corporate America that CEOs must be paid top dollar for their skills in order to keep them from constantly shopping their skills to the highest bidder. But a new study by Craig K. Ferrere and Charles M. Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware, debunks that theory and shows that CEO skills are often non-transferable. Further, the study shows that one of the main factors in determining CEO pay rates, the peer-group benchmark, is woefully ineffective and drives up pay rates for less qualified CEOs.
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Inspector General's Report: Freddie Mac Didn’t Set Out to Profit from Homeowners Trapped in High-Rate Mortgages

Mortgage giant Freddie Mac did not keep homeowners trapped in high-interest loans in order to boost profits on billions of dollars’ worth of complex financial bets it had made. That’s the conclusion reached in a report released today by the inspector general that oversees the agency in charge of Freddie Mac.
Last January, ProPublica and NPR reported that Freddie had dramatically expanded its holdings of mortgage-backed securities that would profit if homeowners stayed in their existing high-interest-rate loans. At the same time, the company had taken steps that made it harder for homeowners to refinance at lower interest rates. Our report stated that there was no evidence of a coordinated attempt to bet against homeowners’ ability to refinance. The inspector general’s report concludes that there was none.
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'Those People' Can Just Go to the ER

The hits keep coming from Mitt Romney. Fresh off stating it is fair for himself to pay less in taxes than the rest of us he had a lot to outdo. But outdo it he did. If you are uninsured just go to the ER.
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