February 10, 2012

You are here: Home / Archives for Economy

Ryan questions Bernanke on Fed policies

February 3, 2012 By

House Budget Chairman Paul Ryan is concerned the Federal Reserve’s plans are taking the nation down a familiar, unsustainable path. The Wisconsin Republican told Fed Chairman Ben Bernanke, the central bank’s had “too loose” of policies in 2003-to-2005 which resulted in the asset bubble bursting.

“I know you don’t agree that. But because you don’t agree with that our fear is that you are just going to repeat these same mistake again, but by orders of magnitude that we can’t even comprehend right now,” said Ryan in hearing Thursday.

The central bank wants to keep interest rates very low until late 2014 in an effort to spur the economy.  Ryan said this could lead to fueling asset bubbles and destabilizing prices.

But Bernanke cautioned that Congress should not cut spending or raise taxes too quickly, warning the result could undermine economic recovery. The Fed Chairman admitted the recovery so far has been “frustratingly slow,” but believes 2012 will have stronger growth than last year.

Filed Under: Economy, News, Politics & Government

Walker talks Wisconsin Working agenda

February 2, 2012 By

Governor Scott Walker says he remains focused on creating a quarter million new jobs in his first term. The governor defended the job pledge Wednesday in the Wausau area, comparing that goal to winning the Super Bowl.

While he admits it’s not going to happen all at once, he says “we’ve laid the foundation, laid the groundwork, for us to head in the right direction.”

Walker continued to promote his Wisconsin Working agenda as a way to boost job growth. The agenda includes efforts like doubling the number of job fairs this year and hiring more state worker to help those on jobless benefits look for work.

Walker also says reforms he put in place in his first year, such as limiting collective bargaining rights for public union employees, have provided employers with the certainty they need to add jobs. He says the state having its finances in order should convince business owners that it’s safe to take the risk and invest in Wisconsin.

Democrats argue the governor’s policies are not working, citing federal labor statistics that show Wisconsin has lost thousands of jobs since Walker’s budget took effect last summer.

Walker spoke as committees in the Assembly and Senate passed a bill that creates a voluntary occupational training program for residents on jobless benefits. The program, which is modeled after similar training programs in Georgia and New Hampshire, provides 20 to 24 hours a week of unpaid on-the-job training for up to six weeks.

AUDIO: Matt Lehman reports (:28)

Filed Under: Economy, News

Wisconsinites opt to retire elsewhere

February 2, 2012 By

The Badger State is becoming less popular for people looking for a change of scenery. Over the past 15 years Wisconsin transitioned from a state that saw a gain in people moving here, to a state that lost residents. That’s the finding of a study by the Wisconsin Taxpayers Alliance.

Research director Dale Knapp says the report used tax returns to determine how many people were coming to and leaving the state. He says in the mid ’90s, Wisconsin was a popular place to relocate. But trend has been changing in recent years and in 2010, about 10,000 more people left than came to the Badger State.

Many are retirees looking for warmer weather and friendlier tax climates. The report says 45,000 Wisconsinites – which equals the entire population of Fond du Lac – moved to Florida and Arizona from 2006 to 2010.

“As the baby boom continues to head toward retirement we expect that to continue,” says Knapp. He adds improving the state’s economy is the only way to reverse the trend.

Rick Schuh-WHBY contributed to this report

Filed Under: Business, Economy, News

Mining bill ready for Assembly vote

January 25, 2012 By

A state Assembly committee advances a bill aimed at getting an iron mine up and running in northern Wisconsin. The big item of contention, an amendment which allocates sixty percent of a tax on mine profits to local governments, and forty percent to the state. “Why are we not answering the needs of the local community in this amendment?” asks state Representative Louis Molepske. “Why do we need to skim off forty percent for the state coffers?” The Stevens Point Democrat says that’s not what locals want, based on a public hearing in Hurley. “People supporting the idea of a mine in the local, absolutely flat-out said no, we do not support a sixty forty split.”

AUDIO: Bob Hague reports (1:15) 

[Read more...]

Filed Under: Economy, Environment & Conservation, Legislature, News

Sensenbrenner slams pipeline decision

January 19, 2012 By

After months of uncertainty, the Obama administration has rejected the application by a Canadian company, to build the Keystone XL pipeline from Canada’s tar sands to the U.S. Gulf Coast. A big mistake, says Wisconsin congressman Jim Sensenbrenner. “What it will do is force Canada to build a pipeline to its Pacific coast so that oil would be exported to China and Japan, who are our competitors,” says the Menomonee Falls Republican, “I would hope that Congress would override the decision of the administration, if we can figure out a way to do that and prevent Obama from vetoing it.”

AUDIO: Rep. Jim Sensenbrenner (:45) [Read more...]

Filed Under: Business, Economy, Environment & Conservation, News, Politics & Government
Next Page »