Skip to main content

Home/ IB Economics HL LG/ Group items tagged congress

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
Xinmian H

One Bad Energy Subsidy Expires - NYTimes.com - 0 views

www.nytimes.com/...ad-energy-subsidy-expires.html

subsidy

shared by Xinmian H on 17 Nov 12 - No Cached
  • The 45-cent-per-gallon tax credit for oil companies to blend ethanol into gasoline cost taxpayers $5 billion to $6 billion a year,
  • It boosted corn prices and increased food prices generally by encouraging farmers to replace other crops with corn.
  • deepening the budget deficit.
  • ...3 more annotations...
  • corn ethanol generated more carbon dioxide than gasoline
  • ending the subsidies would
  • have no effect on gas prices for consumers and only a trivial effect on industry profits,
  • Xinmian H on 17 Nov 12
     
    The Congress is preparing to cancel subsidy for corn ethanol and the tax break for oil companies. The tax credit deepened the budget deficit. It also raised corn price and food price as farmers started to replace other crops with corn. However the House of Representatives won't pass any law that would end the subsidy because their paymasters want the subsidy to keep the demand up.
Paul J

Obama announces Pentagon budget cuts - 0 views

content.usatoday.com/...1

public goods budget cuts control government intervention

shared by Paul J on 28 Nov 12 - No Cached
  • Paul J on 28 Nov 12
     
    This article is a great example of government intervention into the market of public goods. This article details the rather controversial plan of President Obama to cut $487 billion dollars over the next decade, with the possibility of an additional $500 billion dollars of cuts if Congress agrees, which will most likely never happen.
anonymous

Minimum wage inflation indexing stalls in NM panel - 0 views

www.nbcnews.com/...business-stocks_and_economy

increase in minimum wage inflation congress

shared by anonymous on 14 Mar 13 - No Cached
  • anonymous on 14 Mar 13
     
    This article speaks about a trending topic her in the US which is that of increasing the minimum wage from $7.50 to $9.00 or just around that. This would be a step in the right direction because it would increase the nation's overall per capita salary. What is also interesting is that the minimum wage in the united states is not adjusted to the rate of annual inflation (3%), only ten states are the wages adjusted. The bill in congress would include after a certain time that the wages start to be adjusted with inflation annually.
Christopher P

Mica to introduce legislation to end Amtrak 'monopoly' - 0 views

www.progressiverailroading.com/...-to-end-Amtrak-monopoly--35186

Amtrak monopoly government intervention railroads

shared by Christopher P on 13 Feb 13 - No Cached
  • Christopher P on 13 Feb 13
     
    House Representative John Mica of Florida, my home state, is planning to introduce legislation to Congress to address what he considers to be Amtrak's monopoly over passenger-rail service. The legislation would aim to increase competition in this industry, not end Amtrak itself. Mica is a member of the House Transportation and Infrastructure Committee and hopes that Congress will consider federal rail policies later this year.
Adil R

'Deadliest Catch' star testifies before Congress on shutdown effects - 0 views

www.latimes.com/...fects-20131011,0,7150411.story

Quota

shared by Adil R on 21 Oct 13 - No Cached
  • Adil R on 21 Oct 13
     
    This article discusses how quotas should be in place to protect the alaskan fish. it also brings up the recent government shut down and how that affected this. basically american fishers were limited to when and where they could fish. This in turn has affected the economy but decreased their competitiveness in the world economy
Adil R

Obama Needs to Learn "Opportunity Cost" - 1 views

www.thenewamerican.com/...eeds-to-learn-opportunity-cost

opportunity cost

shared by Adil R on 18 Sep 12 - No Cached
    • Adil R
      Adil R on 18 Sep 12
       
      This article asses Obama's stimulus plan. It talks off how congress passed the ARRA stimulus package which injected $787billion into the government sector. Obama stated that this package wouldnt allow the unemployment rate to pass 8% however it reached 10%. Obama said that the depth of the recession couldnt be foreseen however there were many people who predicted it.
  • that unemployment with his bailout would likely reach 10 percent.
  • he also doesn’t understand basic economic concepts such as “opportunity cost.
  • ...38 more annotations...
  • experts promised that unemployment rates wouldn’t pass eight percent
  • creates money out of thin air via the Federal Reserve
  • as the cost paid when something is given up to get something else.
  • The federal government can’t spend money on “stimulus” projects without siphoning the money out of the economy as a whole
  • resulting inflation of the money supply dimishes the purchasing power
    • Adil R
      Adil R on 18 Sep 12
       
      The article then goes on by stating Obama does not know the concept of opportunity cost. $787billion was taken out of the federal reserve to pay for federal programs resulting into the weakening of the current dollar value and inflation. This had an impact on everyone, nearly $7000 per household. Government jobs do not make a salary and therefore do not stimulate the economy. This can also lead to an increase in taxes whilst still barely benefiting the community. Opportunity cost kicks in here as the obama administration thought that this was the next big thing as apposed to injecting it to private sector. The article too talks about how private businesses contribute to the economy even if the company is failing as it still receives services and eventually the more efficient company will take over. Moreover they can make profits and they can better the economy by hiring or purchasing consumer goods.
  • taxpayers would likely spend or invest nearly all of that money taken from them
  • dollars with more valu
  • nvest more in their company, or pay higher dividends to investors
  • save the money and invest it in business growth
  • more consumer goods
  • $7,000 per household
  • defined
  • teachers, police officers,
  • irefighters on state
  • payrolls doesn’t stimulate the national economy
  • hurts
  • Government jobs
  • do not make a profit
  • Governments
  • hire employees and build overpriced buildings and roads
  • money is gone.
  • putting more funds into the hands of government is not efficient
  • reinvest those profits in the manufacture of new goods, jobs, and more efficient factories.
  • businesses employ people for a profit
  • replaced with more efficient businesses
  • allowed
  • to fail
  • government entities subsidize inefficient private corporations
  • allowed to fail
  • hey should
  • free market inefficient businesses
  • inefficient governments
  • never happens
  • government jobs require constant transfusions of taxes
  • static number of people employed
  • private sector is the only area of the economy that can lead to self-sustaining job growth and economic recovery
  • He should know that opportunity costs under ARRA demonstrate that the “stimulus” bill tipped the unemployment figures higher and worsened the economic recession.
anonymous

Grain and thunder - 0 views

www.economist.com/...last-minute-problems-grain-and

trade promotion

shared by anonymous on 21 Feb 14 - No Cached
  • anonymous on 21 Feb 14
     
    This article is just talking about an event in late 2013 about obama who was hoping that the "trade-promotion authority" agreement would be passed by congress giving confidence to some of the producers.
Christopher P

Venezuela fully joins trade bloc Mercosur with Paraguay vote - 0 views

www.euronews.com/...oc-mercosur-with-paraguay-vote

trading bloc mercosur paraguay venezuela

shared by Christopher P on 08 Jan 14 - No Cached
  • Christopher P on 08 Jan 14
     
    After a vote in Paraguay's congress, the country of Venezuela has been approved to join the South American trading bloc known as Mercosur. However, Paraguay itself was suspended last year due to the impeachment of a president, which was considered anti-democratic. Paraguay is expected to be reintegrated completely after the election of its new president, Horacio Cartes. These events show how closely related politics and economics can be in the realm of trading organizations.
1 - 8 of 8
Showing 20▼ items per page