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U.S. in Fiscal Peril with $12.1 Trillion Debt
(USA Today) – Bipartisan support is growing in Congress for action to stabilize the nation’s bulging debt, which is now $12.1 trillion. Influential experts from former Federal Reserve Board chairman Alan Greenspan to former comptroller general David Walker have joined the cause.
Tax Court Accepts IRS Method for Determining Gambling Wins and Losses
(Journal of Accountancy) – The Tax Court held in a memorandum decision released Monday that taxpayers who were casual gamblers recognized wins or losses when they redeemed their tokens and that they could not net their wins and losses across the year (Shollenberger, TC Memo 2009-306).
10 Years…No Gain in Home Prices
( — Taking into account inflation, home prices are actually lower than they were 10 years ago, according to a report from the National Association of Realtors released Wednesday
New Laws for the New Year
(Stateline) – New state laws that take effect across the country on New Year’s Day range from affecting the way residents drive to whether they can marry or profit from a snapping a celebrity’s photograph.
Then vs. Now: How Prices Have Changed Since 1999
(WalletPop) – Remember the giddy year of 1999, when many of us were convinced we were entering the new millennium and everyone was panicking about the Y2K bug? During the subsequent decade, the stock market made us rich as kings, then poor as church mice.

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