Nearly $1.5 million in debt, the Minnesota Republican Party is using a line of credit to help it through recent cash crunches.
The party owes $75,000 on a line of credit at Alliance Bank for loans taken out in late October and November, according to federal finance reports filed this month. It owes another $85,000 in other bank loans.
All told, the party had $990,000 in debt in its federal account after the election. As of mid-October, it also had $450,000 in debt in its state account.
I trust I am not the only person to see the irony in this.
A little better.
Jobless claims decreased by 17,000 to 297,000 in the week ended Nov. 29 from 314,000 in the prior period, the Labor Department said today in Washington.
Employment probably increased by 230,000 in November after a 214,000 gain the previous month, according to the Bloomberg survey median ahead of the Labor Department’s Dec. 5 report. The unemployment rate is projected to hold at 5.8 percent, the lowest since July 2008.
The four-week average of claims, a less-volatile measure than the weekly figure, rose to 299,000 from 294,250 the week before.
In the most stunning development, Bloomberg’s experts were, for all practical purposes, right on the money.
Back over 300k.
Jobless claims increased by 21,000 to 313,000 in the week ended Nov. 22, the highest since early September, from 292,000 in the prior period, the Labor Department reported today in Washington.
The number of people continuing to receive jobless benefits dropped by 17,000 to 2.32 million in the week ended Nov. 15, the fewest since December 2000.
In that same period, the unemployment rate among people eligible for benefits fell to 1.7 percent, the lowest since November 2000, from 1.8 percent the prior week, the report showed.
In other news, Bloomberg’s experts blew it again.
Taxes are the price of living in a civilized society. State governments have turned to casinos because politicians are too gutless to be honest about taxes, so they resort to trickery:
“Casinos will solve everything,” they say. “Casinos are easy money, not like taxes. Taxes are hard.”
It’s not working out so well. Atlantic City is becoming a wasteland and, increasingly, new casinos, like new sports palaces, don’t live up to developers’ projections. Werner Herzog’s Bear considers why; here’s a bit of the considering:
That phenomenon attests to the neoliberal system that has been erected in the last three decades in this country. State-level politicians try to do everything they can to spare the rich form any sort of tax burden, so cigarettes and gambling become an easy target for revenue, even though they are highly regressive in who they take money from. It’s also interesting that the paragon poster-child of capitalist bad taste is Donald Trump, who rose to prominence with his casinos in Atlantic City. In the same decades that casino gambling has grown and grown, so has the biggest casino of them all: Wall Street.
Casino gambling, like most promises of easy money, is a mug’s game. It’s a mug’s game for the gambler and for the polity. The house always wins; the reverse of that is that, ultimately, the gambler and the polity are always fleeced.
Recent archaeological findings suggest that an essential feature of every Babylonian office was the Nebucadenza.
Jim Wright expects the next years to be painful, but he finds some cause for optimism. A snippet:
What I’m saying here is that last time Republicans were in charge? Think back, what happened? What did we get?
Yeah, we got America’s first black liberal president.
In a landslide.
You owe it to yourself to follow the link and read the rest of the post.
Ever wonder what happens when they get their way?
The four-week average of jobless claims, a less-volatile measure than the weekly figure, dropped to 281,000, the lowest since May 2000, from 284,000 the week before, a Labor Department report showed today in Washington. The reading for the week ended Oct. 18 climbed by 17,000 to 283,000, in line with the median forecast of 52 economists surveyed by Bloomberg.
More surprising than the improved numbers is that Bloomberg’s experts got it right. Think I’ll run out and buy that lottery ticket today.
Lowest since just after President George the Worst started his war on workers.
The Labor Department said Thursday that weekly applications for unemployment aid fell 23,000 to a seasonally adjusted 264,000, the lowest level since April 2000.
The four-week average of applications, a less volatile measure, dropped 4,250 to 283,500, the lowest level since June 2000.