Puerto Rico is in serious financial crisis, and because the island is a U.S. territory, this is a matter of concern to taxpayers in Virginia and throughout the country. As a territory, this government cannot declare bankruptcy under current Chapter 9 law, but it wants to do just that. No government gets itself into this […]Full Story»
Sarah Burd-Sharps and Kristen Lewis, authors of “Geographies of Opportunity,” provide a state-by-state and congressional district-by-congressional district measurement of “well-being” across the United States. Overall, Virginia fares reasonably well in the report, scoring 11th overall. Well-being is determined by a set of measures for life expectancy, education and median income. But state averages can mask a lot. […]
Slow wage growth is one of the side effects of a weak labor market. Even though the official unemployment rate has fallen to 5.5 percent in the nation in February, the rate that includes people working part time who would rather work full time and the marginally attached is 11.0 percent. With plenty of jobseekers […]
New data from the U.S. Treasury shows that the federal government has amassed $74 trillion in debts, liabilities and unfunded Social Security/Medicare obligations. This amounts to $603,000 for every household in the U.S., a fiscal burden that exceeds 90% of all the private wealth accumulated in the history of America. Each year, the Treasury and […]
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