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The economic impact of Hurricane Sandy Oct 29th 2012, 19:41 Hurricane Sandy has already prompted huge swaths of the East Coast to shut down — an area with a daily GDP of about $10 billion, according to Ryan Sweet, a senior economist at Moody's Analytics. But ultimately, economists expect the impact of the storm to be temporary, noting that there are ways that natural disasters tend to boost spending and spur economic growth as well as hinder it. Read full article >>  | Making Work Pay vs. the payroll tax cut, in two charts Oct 29th 2012, 16:58 As Ezra noted this morning, the White House is floating a revival of the Making Work Pay tax credit — a key part of the stimulus package — as a replacement for the expiring payroll tax holiday. That's ironic, since the payroll tax holiday was originally a replacement for the expiring Making Work Pay (or MWP) tax credit, which lapsed in late 2010. Read full article >>  | FEMA loses nearly $900 million if sequester cuts hit Oct 29th 2012, 16:47 The Federal Emergency Management Agency has a $14.3 billion budget to coordinate the national response to disaster situations like Hurricane Sandy. Should the sequester take effect, the White House estimates that the agency would lose about $878 million, largely from programs that provide direct relief to disaster victims. And even if Congress averts the sequester cuts, it has already put hard new limits on disaster relief into effect, thanks to the debt-ceiling deal. Read full article >>  | Storm could delay final pre-election jobs report Oct 29th 2012, 15:44 The Labor Department has not yet ruled out delaying Friday's jobs report due to the havoc caused by Hurricane Sandy. "The employees at the Bureau of Labor Statistics are working hard to ensure the timely release of employment data on Friday, November 2," the BLS said in a statement. "It is our intention that Friday will be business as usual regarding the October Employment Situation Report." Read full article >>  | What's dragging down the U.S. economy? Oct 29th 2012, 14:24 More than three years after the recovery began — in name, at least — the economy is still in a giant hole. But what, precisely, is still dragging it down? What sectors are the culprits? A simple model delivers some answers. Read full article >>  | A portrait of Washington in 2012 Oct 29th 2012, 13:53 The White House is reportedly looking for an alternative to the payroll tax cut that does the same thing as the payroll tax cut but isn't called the payroll tax cut. This might seem a bit odd to you. But it's a perfectly natural by-product of the GOP's strategy of denying President Obama popular accomplishments. Read full article >>  | |
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