More TARP Returns for Treasury

The central component of the TARP was the Capital Purchase Program (CPP), under which the U.S. Treasury purchased preferred shares in hundreds of banks and received warrants in return. Banks started to return the capital in June 2009, with the largest institutions repaying first. Counting the extra assistance given to Citigroup (C) and Bank of America (BAC), CPP recipients took $242.9 billion in funds. Banks have returned $230.71 billion of that total. Add in dividends ($14.69 billion), gains on the sale of Citigroup common stock ($6.85 billion) and funds received from the sale of warrants ($9.08 billion) and the CPP has turned a "profit" thus far of about $18.4 billion. (Here's the most recent TARP summary.)

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General Motors Will Slash Outsourcing In IT Overhaul

Today, about 90% of GM's IT services, from running data centers to writing applications, are provided by outsourcing companies such as HP/EDS, IBM, Capgemini, and Wipro, and only 10% are done by GM employees. Mott plans to flip those percentages in about three years--to 90% GM staff, 10% outsourcers.

Insourcing IT on that scale will require GM to go on a hiring binge for software developers, project managers, database experts, business analysts, and other IT pros over the next three years. As part of that effort, it plans to create three new software development centers, all of them in the U.S. IT outsourcers, including GM's one-time captive provider, EDS, face the loss of contracts once valued at up to $3 billion a year.

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Deficit Drops 66 Billion :; Revenues Up :: Costs Down

CBO estimates in its latest report that the Treasury Department will report a deficit of $905 billion for the first nine months of fiscal year 2012, $66 billion less than the $971 billion deficit incurred through June 2011. Outlays are about 1 percent higher and revenues are about 5 percent higher than they were at the same point last year.

Total Receipts Through June Were Up By 5 Percent

Receipts in the first three quarters of this fiscal year totaled $1.8 trillion, $90 billion more than those in the same period last year. Compared with collections during the same period in fiscal year 2011:

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Nick Hanauer :: Middle Class consumers are the Real Job Creators

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Walmart closes, Community builds a giant library

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The Top 5 Ways The Supreme Court’s Ruling On Obamacare Helps Women

The historic Supreme Court ruling upholding the Affordable Care Act, otherwise known as Obamacare, is a tremendous victory for millions of Americans, and perhaps most of all for women. By upholding the health reform law, the Supreme Court will allow significant reforms to our health insurance system to be fully implemented, helping to keep health care costs down and protecting Americans from the health insurance industry’s worst abuses.

Here are the top 5 ways Obamacare helps women:

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OBAMACARE IS A MAJOR TAX CUT FOR MIDDLE CLASS FAMILIES

Following the Supreme Court’s Affordable Care Act ruling, Republicans — including Mitt Romney — have vigorously insisted that the Affordable Care Act is a tax on the American people. But instead of being a tax increase, Obamacare will provide millions of families with large tax credits to make health care more affordable. Only about 1 percent of Americans who could afford health care but don’t buy coverage would have to pay the tax, and the penalty would only be an average of $600. The Center for American Progress shows how Obamacare is actually a major tax cut for many families:

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MyCare: Virginia D. in San Francisco, CA :: Small Business Tax Credit

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VP biden :: President is Strengthening the Middle Class

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