03-24-2018  10:39 pm      •     
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MJF Grants Help Fund Music in Montavilla Schools

A total of [scripts/minicatblogs/front-page.php],500 will fund projects at four neighborhood public schools ...

Prof. Timothy Snyder to Speak at PSU April 25

Snyder will speak on “Resisting Tyranny: Lessons from the European 20th Century” for 11th Annual Cogan Lecture ...

County Creates New Fund to Diversify Construction Trades

The Construction Diversity and Equity Fund will draw 1% from county remodeling projects with budgets above 0,000 ...



Remember (The Truth) About The Alamo

In 1829, the Afro-Mexican president of Mexico outlawed slavery at a time when the southern U.S. was deeply in thrall to slave labor ...

Black Women You Should Know

Julianne Malveaux on the next generation of Black women leaders ...

Access to Safe, Decent and Affordable Housing Threatened

Trump era rollbacks in lending regulations could make life harder for Blacks in the housing market ...

Civility on Social Media Is Dead

Bill Fletcher discusses the lack of penalties for obnoxious behavior on social media ...



Annalyn Kurtz CNN Money

NEW YORK (CNNMoney) -- Since the recession, Congress and President Obama have supposedly been focused on job growth, yet their squabbling may actually be killing jobs, according to estimates from economists.

Washington's heated budget battles have already cost the economy at least 1 million jobs over the last few years, estimates Mark Zandi, chief economist for Moody's Analytics.

How? Debates about stimulus in 2009, and the federal budget and debt ceiling since then, have created so much political uncertainty for businesses, entrepreneurs, banks and consumers, they're all holding back.

"Businesses are more reluctant to invest and hire, and entrepreneurs are less likely to attempt startups," Zandi said in written testimony before the Senate Budget Committee last week. "Financial institutions are more circumspect about lending and households are more cautious about spending."

Political uncertainty, as measured by a Moody's Analytics index, reached record highs during the debt-ceiling debate two years ago, and is now back on the rise.

Zandi estimates the unemployment rate would be around 6.6% now if political uncertainty had not increased since 2007. Unemployment currently stands at 7.3%.

His estimate coincides with separate research conducted by San Francisco Fed economists Sylvain Leduc and Zheng Liu, who say the unemployment rate would have been around 6.5% at the end of 2012, if it weren't for an increase in political uncertainty.

The U.S. economy lost 8.7 million jobs between 2008 and early 2010, and has since gained back 6.8 million jobs.

As of August, about 11.3 million Americans remained unemployed.

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