Today’s Federal Register is here.
This article at Bloomberg.com: “Bush’s Budget Nominee Says No New Tax Cuts Planned.” Regarding the economy, the article reports:
“The economy is projected to grow at a 3.5 percent annual rate in the third quarter and improve to a 3.7 percent pace in the last three months of the year, according to the consensus estimate of 53 economists surveyed this month by Blue Chip Economic Indicators. That would follow an expected 2 percent growth rate this quarter.”
Bill Mann for the Motley Fool has this very interesting article: “GM’s Pension Peril.” The article discusses GM’s $13 billion debt offering to fund its pension liabilities which was discussed in a previous post here. Mr. Mann writes:
“GM is sort of the worst case scenario of pensions, but its funding problems and its solutions are instructive to investors in any company with a pension fund. It ought to also serve as a warning. The company you hold, or the one you are analyzing, may have an enormous pension liability that you cannot see on the balance sheet or income statement, but is instead buried in the footnotes.”
On the same subject, Reuters has this article by Dena Aubin: “Pension gap unlikely to spur US debt issuance wave.“