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Nominal dollars are the everyday paper dollars that we think of and call money. These dollars change every day (depreciate). The value of these dollars goes down constantly as the money printers continue to debase our currency.
For what will be the last time, a space shuttle lifted off from Cape Canaveral, Fla., at 11:29 a.m. today. Atlantis, carrying four astronauts, is conducting the 135th and final shuttle mission, in which it will deliver supplies to the International Space Station. The shuttle is scheduled to return on June 20.
One of President Barack Obama’s senior advisers, David Plouffe, said Wednesday that the state of unemployment will not affect the way individual Americans vote in 2012. “The average American does not view the economy through the prism of GDP or unemployment rates or even monthly jobs numbers,” Plouffe, who ran Obama’s 2008 election, told Bloomberg.
President Barack Obama spoke briefly to the press from the Rose Garden today regarding the most recent report from the Labor Department, which showed the jobless rate rising to 9.2 percent in June. In his remarks, the President blamed natural disasters, gas price spikes and State and local job cuts for the poor condition of the job market.
The controversy surrounding Operation Fast and Furious, the Bureau of Alcohol, Tobacco, Firearms and Explosives’ (ATF) plan to allow firearms to cross the Mexican border in the hope of tracking down drug lords, continues to haunt the agency. The White House has said it will not comment while the official investigations into the operation are being carried out by the House Oversight and Government Reform Committee and the Justice Department Inspector General, but rumors are circulating that the embattled agency could be brought down in the aftermath.
On Thursday, President Barack Obama spoke with Congressional leaders from both sides of the aisle about the debt ceiling debate.
The nation’s unemployment rate climbed to 9.2 percent as only 18,000 jobs were created in the month of June, according to Labor Department figures.
House Republicans have been working to water down President Barack Obama’s financial overhaul law through various bills. Representative Jeb Hensarling (R-Texas), vice chairman of the House Financial Services Committee, called the financial overhaul law “a job creator’s nightmare.”