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Stimulus

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NEWS
August 17, 2012
GREER, S.C. - Republican presidential candidate Mitt Romney said Thursday that he has paid a tax rate of at least 13 percent in each of the last 10 years, offering his fullest explanation to date of his tax status. "I did go back and look at my taxes and over the past 10 years I never paid less than 13 percent. I think the most recent year is 13.6 or something like that. So I paid taxes every single year," he told reporters. Democrats have hit Romney repeatedly on the tax issue. They have said that he pays a lower effective tax rate than many middle-class families.
NEWS
July 19, 2010
By Frank R. Gunter Has President Obama's economic stimulus actually led to a deeper recession and higher unemployment? In 1981, the United Kingdom was in a severe recession, and most economists supported a stimulus program of increased government spending and reduced taxes. They predicted this would stimulate private consumption and investment, shortening the recession. However, Prime Minister Margaret Thatcher's senior economic adviser, Alan Walters, advised her not to stimulate the economy in this manner, but rather to adopt a contractionary fiscal policy by raising taxes.
NEWS
March 6, 2010 | By Paul Nussbaum INQUIRER STAFF WRITER
SEPTA received $12.5 million yesterday that will fund station improvements at Malvern, part of a final flurry of awards of federal stimulus money to local transit agencies. The money was part of about $200 million in stimulus designated for SEPTA projects early last year, and yesterday's award by U.S. Transportation Secretary Ray LaHood was essentially a formality, marking the completion of stimulus funding by the Federal Transit Administration for $7.5 billion in projects. The work at the Malvern station, scheduled to begin this month, will include a new pedestrian underpass and 46 additional parking spaces.
NEWS
February 27, 2009 | By Paul Nussbaum INQUIRER STAFF WRITER
Transportation projects in the Philadelphia-South Jersey region will get more than $668 million from the federal stimulus package under a plan approved yesterday by the Delaware Valley Regional Planning Commission. Leaders of several Pennsylvania counties were miffed that few of their projects made the final cut, and some local officials were underwhelmed by the mundane nature of many of the projects. Planning and transportation officials said they selected works that could be started quickly, without delays for acquiring land or new permits.
NEWS
June 17, 2009
PENNSYLVANIA can't afford to turn its back on stimulus dollars, and state lawmakers should be held accountable for depriving 29,000 unemployed people of the federal funds that can put food on their table. The state's convoluted eligibility formula that excludes income from an unemployment-insurance claimant's two most recent wage quarters might have been justifiable before the days of computers, but it should no longer provide an excuse for not acting quickly and responsibly to modify the rules.
NEWS
March 1, 2009 | By Dean P. Johnson
I am well aware that it is in poor taste to look a gift horse in the mouth, but you can't put the cart before that bequeathed equine either, because some gift horses could find you on the south end of a northbound horse. My wife and I had received a gift card to a popular Philadelphia restaurant this past holiday season. We were thrilled at receiving such a gift because we don't get out as often as we'd like. With trying to keep a handle on the kids' social calendar, coupled with sheer exhaustion from trying to keep a handle on the kids' social calendar, sometimes a slice of pizza, a bottle of wine, and a DVD is all we can handle.
NEWS
February 6, 2009
THE MASSIVE stimulus has passed the House, but it wasn't smooth sailing. Not one Republican voted for it and 11 Democrats voted against, for good reason. With only about 12 cents of every dollar going toward the economy (and most of that not for two to three years), this "stimulus" serves up more pork than a Texas barbecue. For example, billions for computers to monitor climate change and some kind of contraptions that may or may not capture carbon. I don't have a college degree, but I thought that's what trees did. How does buying computers create the jobs Obama's been talking about?
NEWS
March 5, 2009
I'M ASTONISHED that the feds can give AIG another $30 billion, and I'm sure other banks will get their share of the billions lying around that haven't filtered down to anyone I know. My plan: Give me $10 million, and I'll help hundreds of families save their homes, buy a fleet of (American-made) cars and probably have enough left to keep the swimming pools open. I'd even provide the accounting that the banks refuse to. David Krain, Philadelphia
BUSINESS
June 14, 2011 | By Paul Wiseman, Associated Press
WASHINGTON - The best cure for the nation's economy now is time, leading American economists said in a new Associated Press survey. And their advice to the Federal Reserve: Don't bother trying a new stimulus plan, which, they cautioned, could damage the economy. The economists are lowering their forecasts for job creation and economic growth for the rest of this year, mainly because of high oil prices. A batch of bleak economic data over the last month has suggested that the two-year-old recovery from the recession is slowing.
NEWS
April 25, 2009 | By Bonnie L. Cook INQUIRER STAFF WRITER
Valley Forge National Historical Park will get $2.1 million in stimulus money to finish restoring Gen. George Washington's Headquarters and other park landmarks, an official said yesterday. On Nov. 4, park managers closed the 18th-century house that Washington occupied during the winter of 1777-78 to give it fresh paint, stone pointing, and new shutters. The landmark did not reopen as planned Dec. 26 because work had fallen behind schedule, said Deirdre Gibson, the park's chief of planning and resource management.
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BUSINESS
January 25, 2015 | By Reid Kanaley, Inquirer Columnist
Europe is far off, but the European Central Bank's decision to infuse money into the Eurozone via so-called quantitative easing will hit us all in the pocketbook, one way or another. Here's how: "Even if you don't live in Europe, this matters," says this post and video clip at Money.CNN.com. The markets' initial reactions were positive. Among other things, "the ECB's announcement showed investors that Europe may finally be serious about repairing its many economic problems. That should help contain the negative spillover to the U.S.," the post says.
NEWS
December 31, 2014
YO, READERS, make any mistakes at work during the year now ending? I did. Did you 'fess up? Or cover up? Or blame somebody else? Come on, now. Be honest. Everyone makes mistakes. As American pop-icon/philosopher/twerker Miley Cyrus sang in 2007 (back when she was Hannah Montana), "Nobody's Perfect. " So, I offer my annual confession of imperfection. It's done on the theory that anyone with a public voice is responsible for what he or she says, writes, tweets, blogs, sings or otherwise communicates to the world at large.
SPORTS
July 1, 2014 | By David Murphy, Daily News Staff Writer
GUY WALKS into a bar, sidles up to a writer who covers the Phillies. Guy says, "Can't believe you have to sit there and watch that crap every night. " There's no punchline. It's reality these days. Wasn't always like this. Once upon a time, the gig inspired envy. Can't believe you get paid for that, people would say. Watchin' baseball every night? That ain't a job. The reactions began to change a couple of months ago. Now, the bulk of them involve pity. That might sound like hyperbole.
NEWS
February 20, 2014
IT'S BEEN FIVE years since President Obama signed the American Recovery and Reinvestment Act, a/k/a "the stimulus," $787 billion (it actually grew to more than that) to reverse a recession and avoid a depression. Pennsylvania got $33.8 billion. Philadelphia got $1 billion-plus, mostly for education. The money was, for many - and to quote 1980s British rock star Robert Palmer - "simply irresistible. " But five years later, Pa.'s economy is less than humming, especially in job growth when compared with other states.
NEWS
August 7, 2013 | By Maddie Hanna, Inquirer Staff Writer
With food-stamp benefits soon to drop and the prospect of an additional $40 billion in cuts to the federal program looming, New Jersey antihunger organizations worry that the need will grow and they won't be able to meet it. Across the country, food-stamp recipients will see a decrease in benefits Nov. 1, with the expiration of an increase that went into effect in 2009 as part of the federal stimulus. In New Jersey, where 858,000 people - about one in 10 residents - receive food stamps, a family of three will likely see benefits decrease by $29 a month, according to New Jersey Policy Perspective, a liberal-leaning think-tank.
BUSINESS
July 25, 2013 | By Joseph N. DiStefano, Inquirer Staff Writer
Contractors studded Philadelphia with art deco-flavored postal centers, courts, and government offices, in brick, concrete, and limestone, back in the 1930s, as the federal Works Progress Administration tried to spend the nation out of the Great Depression. After the most recent financial crisis, Washington settled for the American Recovery and Reconstruction Act of 2009 - the "stimulus" supplied by President Obama - that gave the city, among other projects, a half-acre green roof; high, tight windows; and LED lights at the 17-story, WPA-built Custom House , the cross-shaped federal office building at Second and Chestnut Streets that houses hundreds of federal workers for the National Park Service, Food and Drug Administration, Homeland Security, passport office, and other federal outlets.
BUSINESS
July 13, 2013 | Associated Press
NEW YORK - The stock market, which has been marching higher for a week, got extra fuel Thursday after Federal Reserve Chairman Ben Bernanke said the central bank would keep supporting the economy. The Dow Jones industrial average and Standard & Poor's 500 surged to all-time highs. A mix of additional economic news - much of it positive - added octane to the market's tank. Retail sales surged in June. The Treasury reported a rare monthly surplus. Foreclosures fell. And while new jobless claims rose, the numbers reflected steady hiring.
BUSINESS
July 3, 2013 | By Steve Rothwell, Associated Press
NEW YORK - Stocks rose on Wall Street Monday as investors judged that the economy still isn't growing fast enough for the Federal Reserve to cut back on its stimulus program. U.S. manufacturing grew modestly in June after a pickup in new orders and stronger production, according to a private survey. The Institute for Supply Management said its factory index increased to 50.9 in June from 49 in the previous month. The Standard & Poor's 500 index logged its first monthly decline since October last month after investors were unsettled by comments from Fed Chairman Ben Bernanke.
BUSINESS
June 19, 2013 | By Martin Crutsinger, Associated Press
WASHINGTON - Is the era of ultralow interest rates nearing an end? That's the question - and the fear - Chairman Ben Bernanke will face Wednesday when he takes questions after a Federal Reserve policy meeting. Financial markets have been gyrating in the 31/2 weeks since Bernanke told Congress that the Fed might scale back its effort to keep long-term rates at record lows within "the next few meetings," earlier than many assumed. Bernanke cautioned that the Fed would slow its support only if it felt confident the job market would show sustained improvement.
BUSINESS
June 19, 2013 | By Erin E. Arvedlund, Inquirer Columnist
With Wall Street awaiting the Federal Reserve's statement after its two-day meeting concludes Wednesday, you'd think there was a Super Bowl of money at stake. And there is. But some investors are tired of the rules of the game. They want to see the referees stop determining the score. Investors would like to see the Fed's purchases of bonds come to an end, so the stock and fixed-income market distortions can allow the economy to function without interference. "The sooner QE [qualitative easing]
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