Econintersect had an Infographic of the Day Sunday to honor Father's Day. But we had a second great infographic about Dads available and we are posting that now as a bonus.
Click Read more >> to view infographic.
[Note: This is testimony by Jeffrey Kling, Associate Director for Economic Analysis (Congressional Budget Office), before the Subcommittee on Human Resources, Committee on Ways and Means, U.S. House of Representatives.]
The federal government devotes roughly one-sixth of its spending to 10 major means-tested programs and tax credits, which provide cash payments or assistance in obtaining health care, food, housing, or education to people with relatively low income or few assets. Those programs and credits consist of the following:
- The low-income subsidy for Part D of Medicare (the part of Medicare that provides prescription drug benefits),
- The refundable portion of the earned income tax credit (EITC),
- The refundable portion of the child tax credit,
Econintersect: The European Commission has officially approved the admission of Latvia to join the Eurozone group which shares the common euro currency. The ECB (European Central Bank) had approved the move on 05 June 2013. The remaining steps are considered to be pro forma: approval by EU finance ministers and the European Parliament. These could come as early as July and membership will become official 01 January 2014. There will be essentially no change to business for Latvia because the local currency (the lat) has been pegged to the euro for ten years.
After the G8 summit draws to a close, U.S. President Barack Obama will touch down in Berlin later today. To mark the occasion, we asked 500 Germans to choose their favorite U.S. president. The majority, 37.3 percent, chose Obama. John F. Kennedy came second (36.9 percent) while Bill Clinton came in third (13.7 percent).
Obama made a highly memorable visit to Berlin five years ago as a presidential candidate. Speaking at the city’s Victory Column, he was hailed as a messiah by wildly enthusiastic crowds. In 2013, Obamania is long gone, replaced with the harsh reality of the highest unemployment rates in the history of the eurozone with no signs of recovery in sight.
Econintersect: Click Read more >> below graphic to see today's list.
The top of today's reading list has Nobel laureate Joseph Stiglitz assessment of Japan's economic stimulus moves ........ and the last article maintains that Wall Street is winning the post-crisis regulation battle.