Apparently the federal debt for the US will represent 62% of the nation’s economy by the end of this year, the highest percentage since just after World War II, according to a long-term budget outlook released today by the non-partisan Congressional Budget Office.
Girls love the bug Guys like the Bugatti
It seems that the sexes are thoroughly divided when it comes to the opinions of preferential cars or vans. Girls love the bug. Guys like the Bugatti, a recent study by Truecar.com has found.
The main draw of the VW Beetle over others is about its price and practicality, women are much more likely to purchase a Volkswagen Beetle than any other types or used vans or cars due to these factors.
Men on the other hand, prefer the more masculine trucks or expensive luxury sport vehicles, giving little considering to long term practical or financial benefits.
Although only 36 percent of new car buyers are women, they account for 56 percent of new Beetle owners.
“It fits the description of what women want in a car,” Truecar’s Jesse Toprak told ABCNews.com. “It’s cheap to maintain and own. It gets good gas mileage. It’s practical to get around in big cities yet it’s stylish to drive in hip metropolitan areas.”
In the men’s category, the study showed a predilection for big cars and big dreams.
In addition to bulky GM trucks, men also stated their preference for high-powered vehicles like the Bugatti and Ferrari (though how these guys plan on paying the $2 million price tag for that Bugatti is unclear!).
The study, conducted from 13 million car owners over the past two years, also showed that females prefer smaller vehicles such as the Volvo S40 and the Nissan Sentra.
Posted in Auto & Travel.
– July 2, 2010
Car Lease Concerns over Unemployment benefits retraction
Not a few weeks ago the unemployed benefits extension scheme expired, leaving a mass of citizens that were made redundant or laid off during the recession even poorer. The effects are already being felt in some areas, and car leasing is one of them.
Reports from LeaseTrader.com a match making service for shorter-term car or van leasing, went on to say that it expects an increase of 7.3% in administrative paperwork during the June period as those who replied on unemployment benefits now have to give up their leases. Car hire and van hire agencies may see this as reason for concern although it may not effect them as drastically as leasing agencies.
“Unemployment benefits have been keeping millions of Americans afloat since the recession began,” said Sergio Stiberman, chief executive of LeaseTrader.com. “When the clock runs out on benefits, people still jobless look to find ways of further cutting their bills. The ability to transfer a car lease contract can save a person more than $500 each month while keeping their credit intact.”
Leastrader said that a majority of its business is based in California, as well as some other high-unemployment states, such as Florida, Arizona, Nevada and Michigan. California’s unemployment on it own was 12.4% in May, third highest in the nation.
LeaseTrader noted the surge in withdraws coincides perfectly with the failure by Congress to extended the unemployment benefits scheme through November. Unemployment benefits are just one of a host of issues included in the bill that have delayed its passage.
The California Employment Development Department estimates more than 234,000 laid-off workers in this state alone have had their benefits cut off since the last unemployment extension bill expired in early June.
Posted in Auto & Travel.
– July 2, 2010
Homebuyers rejoice, Unemployed worrisome
This week the House defeated an attempt to pass a standalone extension of jobless benefits to November. Spelling disaster for the unemployed who are already dipping deep into their savings accounts to make ends meet.
The majority of House Republicans voted against the extension, citing concerns over its impact on the federal budget deficit. Then went on to vote in approval of the homebuyers tax credit contract extension.
The extension gives extra time to thousands of homebuyers trying to get a popular federal tax credit by the end of the month. While this may be good news to some, the attached companion proposal to extend insurance benefits to unemployed workers was rejected by the Senate, a huge blow for those already on the real estate ladder and struggling with unemployment or those with financial investments in real estate.
Real estate agents say thousands of settlements may not be completed by Wednesday because settlement offices are slammed with buyers trying to close on transactions by the end of this month in order to receive the funds.
“Up to 180,000 homebuyers will now receive the tax credit they deserve, and our housing market will be strengthened as a result,” House Speaker Nancy Pelosi said in a prepared statement after the lower chamber approved the measure.
Business banking Critics claim that the three-month extension is an invitation for mortgage fraud, providing prospective home buyers time to back date contracts to a date before April 30 and subsequently closing on those contracts by the new September 30 deadline.
Congress extended the $8,000 tax credit for first time homebuyers last fall and added a $6,500 tax credit for all buyers who were purchasing a primary residence.
Posted in Politics & Finance.
– July 2, 2010
Population Growth Must Stop
Earth’s population is approaching seven billion at the same time that resource limits and environmental degradation are becoming more apparent every day. Rich nations have long assured poor nations that they, too, would one day be rich and that their rates of population growth would decline, but it is no longer clear that this will occur for most of today’s poor nations. Resource scarcities, especially oil, are likely to limit future economic growth; the demographic transition that has accompanied economic growth in the past may not be possible for many nations today. Nearly 220,000 people are added to the planet every day, further compounding most resource and environmental problems. The United States adds another person every eleven seconds. We can no longer wait for increasing wealth to bring down fertility in remaining high fertility nations; we need policies and incentives to stop growth now.
Posted in Environment.
– July 2, 2010
