[Chicago’s] Chief Financial Officer Lois Scott reminded council members that absent significant changes to pension plans, the city will be forced to drastically cut services, raise taxes or do both to close a funding gap that could reach $700 million in just a...
[Lawrence] Lindsey said that with the Fed purchasing at least $40 billion a month in mortgage debt through QE3, “they are buying the entire deficit.” … The central bank’s recently announced bid to stimulate the economy has also taken the pressure off...
Police are trying to clear out the massive anti-austerity demonstration that engulfed Spain’s federal district this evening. via Business Insider. Follow the link for photos. This is us in a few years. There’s no other way.
Wal-Mart Stores said on Friday that it plans to give current workers the chance to work more hours and will hire more than 50,000 seasonal employees as it gets ready for the winter holiday season, its busiest time of year. via Fox Business. [Insert cheap joke...
The state will have to come up with another $670 million for the teacher pension system in the next budget after a retirement fund panel crunched the numbers and adjusted its assumptions. The Teachers’ Retirement System lowered what it expects from investments...
