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Economy

Davis Turner, Getty Images
Davis Turner, Getty Images
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Bank of America to Begin Charging $5 Monthly Fee for Debit Card Usage

In light of new regulations limiting what financial institutions can charge merchants when buyers swipe their debit cards, Bank of America — the nation’s largest bank — will soon impose a $5 monthly fee on customers who use their debit cards to pay for such transactions.

Anne Pace, a Bank of America spokeswoman, said the fee will only be charged when customers use their cards during merchant transactions, not when they’re used at ATMs to withdraw cash.

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via mattbrown7
via mattbrown7
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Climatologist Says Drought Could Last Until 2020

Oh joy.  Another decade of this?  That's what weather experts are saying.  The state climatologist for Texas says the record drought of 2011 could be just the beginning of a long dry spell that could last until 2020 or beyond.

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csessums, Flickr
csessums, Flickr
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Gas Prices Drop as Consumer Demand Falls

Thanks to a steep drop in crude-oil prices, gas costs have fallen below $3 a gallon in parts of Michigan, Missouri and Texas, and are expected to decline in many other states as well.

Call it an unexpected bright spot in the global economic crisis. Now that drivers have cut back on trips, shippers are moving fewer goods, and vacationers are staying closer to home, the demand for gasoline, diesel and jet fuel has fallen accordingly. And as we all learned in Economics 101, less demand equates to lower prices.

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Category: Economy Tags:
via ssoosay
via ssoosay
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East Texas Forest Economy Takes Huge Hit from Wildfires

We've known for some time that this year's wildfire season has been the worst in the state's history, but now we know what that means in dollars and cents for the east Texas timber industry.

The Texas Forest Service reports over the last 10 months, east Texas wildfires have wiped out more than $97 million worth of the region’s trees.

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Scott Olson, Getty Images
Scott Olson, Getty Images
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Drought Forcing Ranchers to Trim Herds

The scorching heat and unrelenting drought are forcing members of the largest livestock association in Texas to reduce their herds by almost 40 percent, but it hasn't shaken their confidence in the future of the industry.

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Chip Somodevilla, Getty Images
Chip Somodevilla, Getty Images
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President Obama Reveals $3 Trillion Plan to Cut the Deficit [VIDEO]

In a speech given from the White House Rose Garden on Monday, President Obama proposed a $3 trillion plan to cut the deficit, with half of that amount covered by increased taxes on the wealthy and another $800 million financed by letting the Bush-era tax cuts expire.

“If we are going to make spending cuts… then it is only right we ask everyone to pay their fair share … We can’t afford these special lower rates for the wealthy. We can’t afford them when we are running these big deficits,” he said.

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via Bohman
via Bohman
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The 10 Most Hated Jobs — Is Your Job One of Them?

With unemployment over 9 percent, most people who're working these days are just grateful they have a job.  A job, any job, even one you hate, is better than having no job and depending on welfare.  Or is it?

Speaking of "hated jobs", you may be surprised to know that list includes some of the best-paying jobs in the country.  It's true. Read on.

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via smath
via smath
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TFS Says Crooks Use Drought Fears to Cheat Landowners

The Texas Forest Service says scam artists are using extreme drought conditions and a tough economy to swindle landowners into making bad deals on timber sales.

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