At The End Of The Week
Egypt’s Morsi Faces Increasing Pressure As Protests Continue
After protests against him, Egyptian President Mohammed Morsi issued a call for talks with opposition leaders. The talks would be held on Saturday, but few saw Morsi’s actions as anything more than a political act and continued protests were scheduled for Friday.
Russia, US Seek Solution On Syria
After a year of tense relations, the US and Russia are joining together to seek a “creative” solution to the crisis in Syria. The negotiations are centered around finding a way that Syrian President Bashir al-Assad can be removed from power without violence. The ante has been raised in the wake of Assad’s threat to use chemical weapons against rebel forces.
Forgotten In The Fiscal Cliff Debate – Unemployment Insurance
While most of the arguments related to the fiscal cliff have focused on tax increases versus spending cuts and entitlement reform, the Brookings Institution says it is critical to extend unemployment insurance, which would be limited if no agreement is reached.
“The gains go beyond the families of those directly affected to the greater economy. According to the Congressional Budget Office, each dollar of UI benefits raises aggregate economic activity by $1.10, and each million dollars of UI benefits increases employment by six jobs. …. Absent such benefits, spending would fall sharply, resulting in hardship on not just their families but also on the shops and workers that depend on those consumers for their livelihoods,” says a Brookings paper.
Looming Fiscal Cliff Deadline Spurs Charitable Giving
Hoping to seize on the charitable giving exemption before it expires at the end of the year, many charities are fast-tracking their giving.
Government Waste Price Tag: $2 Billion
A government watchdog group has found that more than $2 billion in stimulus funds have gone unused. The Recovery Accountability and Transparency Board issued a thorough report on where the stimulus money went and went unspent.