Receive videos and ecards on economic policy. Subscribe at http://www.bankruptingamerica.org ————————- With all of the attention on the BP oil spill, the European debt crisis and even financial regulatory reform, the fact that Congress hasn’t passed (and will likely not pass) a federal budget for fiscal year 2011 is flying under the radar. To quote…

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Jan. 21 (Bloomberg) — U.S. Representative Barney Frank, a Massachusetts Democrat and chairman of the House Financial Services Committee, talks with Bloomberg’s Peter Cook about President Barack Obama’s proposals to limit the size and trading activities of U.S. financial institutions as a way to reduce risk taking and prevent another financial crisis. The proposals will…

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The provisions fall into the following three themes: 1) Traditional savings accounts; 2) IRAs and their contribution limits; 3) Addressing minimum distributions from retirement accounts for seniors. Specifically, the legislation would do the following: – Exclude up to $500 (twice that amount for married couples) of interest income from gross income annually. – Permanently increase…

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President Obama announces the Fiscal Year 2011 Budget that makes critical investments in job creation and continued economic recovery, while bringing a new level of responsibility to how tax dollars are spent. February 1, 2010. Duration : 0:10:30

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