The bottom line
Ben Bernanke's record
Average inflation under Federal Reserve Chairman Ben Bernanke’s tenure so far has been 2.3 percent, lower than under any other Fed chairman in the last 40 years. But unemployment since he took the post, in February 2006, has averaged 7.1 percent, higher than under all but one of his post-WWII predecessors.
The New York Times
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IRS fills its coffers
Around 12,000 Americans with offshore bank accounts came clean to the IRS this year as part of an amnesty program. The initiative, which lets tax cheats avoid prosecution for voluntarily disclosing offshore funds, has earned the IRS a total of $2.7 billion in back taxes so far.
Bloomberg.com
Credit card debt rises
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Americans are racking up credit card debt again. After actually reducing debt in 2009 and adding just $9 billion in new credit card debt last year, consumers are projected to put another $54 billion on plastic this year.
Time.com
The small-business sector here and abroad
Compared with other developed countries, the U.S. has a small-business sector that is just that—small. Only 34 percent of U.S. businesses have fewer than 50 employees, compared with 44 percent of French businesses, 49 percent of Polish enterprises, and 69 percent of Italian businesses.
The Washington Post
Outside earnings for U.S. lawmakers
Sixty-eight U.S. lawmakers made a total of at least $27.5 million through side jobs last year, on top of their $174,000 salaries. The outside earnings—more than four times higher than they were in 2006—came from activities that ranged from owning Subway restaurant franchises to selling chestnuts.
The Wall Street Journal
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The bottom line
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The bottom line
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