State and local governments increased their borrowing by 8.3 percent on an annualized basis between April and June, according to the Fed flow of funds . While the number isn't eye-popping against the past decade's history, what's unusual is that stat Read More
There are no grounds for optimism in released this morning by state Comptroller Thomas DiNapoli. Net personal income tax receipts were down $83 million, or 4 percent, from the same month in 2008—and a full 12 percent below the August 2007 level Read More
David Leonhardt's in today's New York Times Business Section (given more prominent play on the Times ) touts a slight recent increase in weekly earnings as evidence that the recession isn't causing widespread pay cuts after all. Read More
In a , the Washington Post reports that "the biggest" of the nation's too-big-to-fail "banks are even bigger" today, with three big banks alone owning more than 30 percent of the nation's deposits, and four big banks issuing "one of every t Read More
The chairman of Britain's Financial Services Authority (similar to our SEC), Lord Turner, yesterday floated the idea of a global tax on financial transactions to shrink "a swollen financial sector," the FT . Turner admits that "the probl Read More
Between the second quarter of last year and the same period this year, the ranks of New York City's unemployed nearly doubled, from 192,987 jobseekers to 361,390 jobseekers, the city comptroller . But unemployment among people who have a bachelor' Read More
What issue got 2,000 rural upstate New Yorkers fired up enough to rally Sunday (under threatening skies) in opposition to a bill sponsored by who represents many of them in Congress? . Read More
Private employment has dropped nine times faster than state and local government employment in New York since last year, according to by the Albany-based Rockefeller Institute. But the national trend showed even more of a disparity between the priv Read More