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Showing posts with label Recession. Show all posts
Showing posts with label Recession. Show all posts

Thursday, March 18, 2010

States may hold onto tax refunds for months

clipped from www.usatoday.com
California's massive budget shortfall of more than $20 billion last year prompted it not only to delay tax refunds but to issue billions of dollars in IOUs to vendors and others who were owed money.
Residents eager to get their state tax refunds may have a long wait this year: The recession has tied up cash and caused officials in half a dozen states to consider freezing refunds, in one case for as long as five months.

States from New York to Hawaii that have been hard-hit by the economic downturn say they have either delayed refunds or are considering doing so because of budget shortfalls.

"It's an indicator of how bad it is," says Scott Pattison, executive director of the National Association of State Budget Officers. "You know things are bad when you have to do that."

New York, hit with a $9 billion deficit, may delay $500 million in refunds to keep the state from running out of cash, says Gov. David Paterson.

Hawaii's Department of Taxation says some residents may not see state income tax refunds until the end of August,
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Saturday, March 6, 2010

Post Master General To Cut Saturday Delivery…Bring on Government Run Health Care

In a move that admittedly makes me sad while smiling, the Post Master General John Potter announced today that he intends to ask Congress to make the necessary changes to appropriation legislation to allow him to cut mail service down to five days eliminating Saturday delivery.  Neither rain, nor sleet, nor gloom of night can keep the mail from going through, but a raging recession, growing costs, private-sector competition, and government inefficiency will do the trick…  Republicans on Capitol Hill have to be loving this development.  Could there be a better example of the federal government’s shortcomings in the administration and implementation of services?  How about five years from now cutting back doctor-patient visits to Monday through Friday as well.
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Tuesday, January 26, 2010

Record number of young Americans jobless

Colorado City, Arizona (10)Image by Ken Lund via Flickr

clipped from www.reuters.com
People talk to job recruiters at a career fair in Los Angeles, February 3, 2009. REUTERS/Lucy Nicholson

CHICAGO (Reuters) - The U.S. economic recession has taken a particularly heavy toll on young Americans, with a record one out five black men aged 20 to 24 neither working nor in school, according to research released on Tuesday.

Overall, 26 percent of American teenagers aged 16 to 19 had jobs in late 2009, said the report, which was based on U.S. Census Bureau data. That figure is a record low since statistics began to be kept in 1948, the researchers said.

Employment counts the number of people with a job as a percentage of the entire work force. By contrast, the unemployment rate -- which stood at 10 percent in December in the United States -- does not include people who have grown discouraged and stopped looking for work.

The "disconnection rate" -- Americans aged 20 to 24 who were neither in school nor working -- jumped to 28 percent last year from 17 percent in 2007.

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