Audit Revels $600 Million Worth Federal Contracts Went Wrong

Audit Revels $600 Million Worth Federal Contracts Went Wrong

A government audit published last week uncovered the extent of the mismanagement of the contracts used to develop healthcare.gov. The Centers for Medicare and Medicaid Services (CMS), which is in charge of several federal health services, is shown to have insufficiently trained employees, have poorly kept records, and were unsuccessful(…)

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Trade Deficit With China increases as Chinese Economy Slows

Trade Deficit With China increases as Chinese Economy Slows

China’s economy continues to slow, according to recently released August trade figures. They showed imports to the country fell 13.8 % on last year in dollar terms, while exports were down 5.5 %. These results caused China’s trade surplus to increase 40 % on the previous month to $60.2 billion.(…)

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$30 Million Tax Shortfall Shows Kansas’ Spending Addiction

$30 Million Tax Shortfall Shows Kansas’ Spending Addiction

In August 2015, Kansas came up $30 million shorter than projected on tax collections. The state’s Department of Revenue believed it would haul in $448 million but was holding just $418 million when the final numbers were tallied, leaving the already-cash-strapped legislature even further behind the 8-ball than it was(…)

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Canada Enters First Recession Since Financial Crisis

Canada Enters First Recession Since Financial Crisis

Two consecutive quarters of negative growth have officially placed Canada in a recession. This year’s first quarter saw Gross Domestic Product (GDP) fall by 0.8% and the second quarter decrease by 0.5%. The country’s last recession was during the 2008-2009 financial crisis. Drastically falling oil prices have been the biggest(…)

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Fed Interest Rate – To Hike Or Not To Hike?

Fed Interest Rate - To Hike Or Not To Hike

All eyes are on the Federal Reserve and chair Janet Yellen, ahead of a meeting of the central bank on September 16-17 where it may take the decision to raise interest rates for the first time since June 2006. Rates were raised to 5.25% in 2006, but soon afterwards the(…)

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Economists Anticipate Slower Economic Growth

Economists Anticipate Slower Economic Growth

In a recent survey conducted by the Associated Press, top economists anticipated that economic growth over the next two years is not expected to reach the levels that were predicted earlier this year. According to the majority of economists surveyed, three important economic indicators — economic expansion, hiring, and wages(…)

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California Gas Bill Losing Teeth Amid Industry Opposition

California Gas Bill Losing Teeth Amid Industry Opposition

California lawmakers have been trying to push through a bill that will mandate a 50% reduction in motor vehicle oil use by 2030, but industry opposition has led Senate leader and Los Angeles Democrat Kevin de León make amendments to the proposed legislation. According to the Sacramento Bee, these changes(…)

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