John Tierney penned an article in the New York Times “The Reign of Recycling”. It is a good read Continue reading →
John Tierney penned an article in the New York Times “The Reign of Recycling”. It is a good read Continue reading →
Back in May I posted about the City of Terre Haute being broke. It was more of a question due to the city having some troubles paying bills.
Continue reading →
Via Peter G. Peterson Foundation
The federal government collects revenue from a variety of sources. The largest source is taxes on individuals’ income and payroll taxes, which together make up four-fifths of federal revenue. Individual income taxes are assessed against wage income and are progressive: that is, the tax rate someone pays increases as their income increases. Payroll taxes are a flat percentage of wage income. They are used to fund Social Security and portions of Medicare. Taxes on corporate profits, estate and gift taxes, excise taxes (a tax levied on a good or service), customs duties, and numerous other taxes comprise the remainder.
Its no secret the Indiana Teachers pension fund is in rough shape. Many economic write ups through the years have given Continue reading →
With the Supreme Court ruling in favor of same sex marriage many states will have to be looking at multiple layers of rule changes. Hoosier Econ reached out to the Indiana Department of Corrections on this issue.
The Indianapolis Motor Speedway and Indiana taxpayers officially become one starting next week when Continue reading →
When talking about economic “bubbles” one that is hardly ever mentioned is student loan debt. CreditCards.com had this about the amount of debt:
Debt affects people of all ages, but an explosion of student debt is weighing down this generation of young adults like no other before. According to data from the Federal Reserve, U.S. student loan debt soared from $550 billion in 2007 to nearly $1 trillion by 2013.
An April 2014 Wells Fargo survey reported that 29 percent of millennials (people between 22 and 33 years old) are worried about paying off their student loans, and data from FICO show that the burden of student-loan debts is contributing to a downturn in the number of millennials carrying credit cards.
You can read the rest of the article here.
While back I posted a piece about the cost associated with the taxpayer caring for illegal immigrant children. Now new dollar amounts have been discovered by Judicial Watch. Sad thing about the bloviating transparency talk from immigrant supporters is this information had to be obtained by an FOIA because the government was unwilling to produce the numbers.
Federal officials paid Baptist Children and Family Services nearly $183 million to help care for 2,400 unaccompanied illegal immigrant children for four months earlier this year at military facilities in Oklahoma and Texas, according to documents made public Wednesday by Judicial Watch.
“The cost to the American taxpayer was $86,846.34 per illegal alien child at Ft. Sill [in Oklahoma], for a total to $104,215,608 for 1,200 UACs from June 12 to October 18,” Judicial Watch said. “The bill also included $2,648,800 in compensation for 30 members of the BCFS ‘Incident Management Team,’ for a total to $88,293 per IMT member for the four-month period.”
The contract was awarded to Baptist Children and Family Services. Here are other items bought by this contract:
“Recreational items will include board games, soccer balls, basket balls, jump ropes, bracelet making kits, yarn, puzzles, arts and crafts, decks of cards, and eye-hand coordination game sets. Reimbursement is requested for $180,000.”
“Educational items will include … tempera paint, paint markers, paint brushes, easel brushes, art paper … Crayons, multicultural crayons … for $180,000.”
“Laptop Kits … 100 Kits … 5 Laptops per kit – $500 per kit … $200,000.”
°“VOIP Phone Kits … 80 kits … 10 cell phones per kit with International call capabilities and radio … $160,000”
H/T Washington Times
The final 2014 fiscal year interest on debt payment was tallied.
September Interest on Debt payment $19,594,265,555.11
Fiscal YTD payments & total for 2014 $430,812,121,372.05
2014 total is $15 Billion higher then 2013 total and $70 Billion higher then 2012 interest on debt payments.