N.C. jobless rate of 13% forecast

BY JONATHAN B. COX – STAFF WRITER
Published: Tue, Jul. 07, 2009 02:00AMModified Tue, Jul. 07, 2009

RALEIGH — Mike Walden, an economist at N.C. State University, predicts North Carolina unemployment will peak at 13 percent in the first quarter of 2010, according to a forecast released Monday.

It will fall through the rest of the year at a faster clip than the nation overall and match the national unemployment rate of 10.3 percent by the end of 2010, Walden wrote. He expects the highest rates in early 2010 in Charlotte and the Triad. The Triangle will have the lowest peak rate.

Perdue tells Cabinet to leap on federal money

Gov. Beverly Perdue told her Cabinet on Monday morning to be aggressive in searching for federal money for the state.

She urged them to become familiar with all the federal rules, to get to know leading federal officials.

She said she was reaching out to neighboring governors Tim Kaine of Virginia and Phil Bredesen of Tennessee, in searching for federal money for joint projects that would benefit North Carolina.

http://www.newsobserver.com/news/story/1426181.html

Duke: Obama plan would bring higher rates

Climate change-related auction of credits will be ‘carbon tax’ passed on to consumers, Rogers says.

By Bruce Henderson
bhenderson@charlotteobserver.com

Posted: Tuesday, Mar. 03, 2009

Duke Energy says Carolinas electricity rates would rise by at least 13 percent under President Obama’s plan to address climate change by auctioning off carbon credits.

Obama would set the nation’s first limits on emissions of carbon dioxide, the gas linked to global warming. Under an approach outlined in his proposed budget last week, industries and utilities such as Duke would be able to trade allowances to release the gas.

http://www.charlotteobserver.com/business/story/572553.html

Democrats push $410 billion bill through House

THE ASSOCIATED PRESS

Published: February 26, 2009

WASHINGTON

The Democratic-controlled House pushed through a $410 billion bill yesterday that increases spending on domestic programs, bristles with earmarks and chips away at policies left behind by the Bush administration.

The vote was 245-178, largely along party lines.

Republicans criticized the bill as too costly — particularly on the heels of a $787 billion stimulus bill that President Obama signed last week. But Democrats jabbed back.

http://www2.journalnow.com/content/2009/feb/26/democrats-push-410-billion-bill-through-house/news-nation-world/

Treasury’s stress test still a mystery

 

By Christina Rexrode
crexrode@charlotteobserver.com

Posted: Tuesday, Feb. 24, 2009

The Treasury Department has hinged a big part of its plans for the banking industry on a so-called stress test, but has revealed almost nothing about what the test might entail.

The government’s latest lifeline for major banks, announced Monday, has one main qualification: A bank has to essentially fail the stress test, which is meant to determine if it could survive a worse-than-expected decline in the economy.

http://www.charlotteobserver.com/business/story/556969.html

Arts organizations may try for a share of the stimulus package

By Ken Keuffel

JOURNAL REPORTER

Published: February 22, 2009

Updated: 02/22/2009 12:40 am

Local arts organizations will soon be able to try tapping into an unusual source of funding.

If they do, they’re sure to get plenty of nationwide competition for some of the $50 million that was earmarked recently for the National Endowment of the Arts. And the groups applying for grants paid for by this money will have to clearly demonstrate how a particular proposal will preserve jobs, NEA officials said.

http://www2.journalnow.com/content/2009/feb/22/220040/arts-organizations-may-try-for-a-share-of-the-stim/news-local/

Shuler defends stimulus ‘no’ vote

But congressman to push for WNC share

DALE NEAL • DNEAL@CITIZEN-TIMES.COM • UPDATED FEBRUARY 20, 2009 3:45 PM

 Read all 49 comments »

ASHEVILLE – U.S. Rep. Heath Shuler, one of only seven Democrats to vote against the $787 billion federal recovery act, defended his decision Thursday, saying there wasn’t enough stimulus in the package to give his support.

http://www.citizen-times.com/apps/pbcs.dll/article?AID=2009902200323

Stimulus dollars may end up helping illegal workers

Some construction jobs created as a result of federal aid could go to illegal immigrants.

By Franco Ordoñez
fordonez@charlotteobserver.com
Posted: Thursday, Feb. 19, 2009

Thousands of N.C. jobs and millions in wages created from the federal economic stimulus package could wind up going to illegal immigrants.

http://www.charlotteobserver.com/597/story/546586.html

Stimulus may cost N.C. $760M

Federal tax breaks, if they’re mirrored by the state, could cut revenue over two years

MARK JOHNSON, Staff WriterComment on this story

RALEIGH – The federal government’s economic stimulus may siphon money out of North Carolina’s treasury at the same time it is shoveling dollars in.The plan signed into law by President Obama on Tuesday funnels $6.1 billion to the state for projects such as roads and schools. The federal tax breaks in the plan, however, may force state officials to offer parallel state tax cuts that would cost the state at least $760 million during the next two years.

http://www.newsobserver.com/politics/v-print/story/1411067.html