State government spending rose by 3%, while that pervasive source of backstop funding, the US government, saw its grants to states increase by 13% to $477.7 billion.
http://bit.ly/eToYV4
CMBS Delinquencies Hit Record High Despite Market Optimism
The delinquency rate for loans held in commercial mortgage-backed securities (CMBS) rose again in December with the percentage of loans 30 or more days delinquent, in foreclosure, or REO climbing 27 basis points to 9.20 percent.
http://www.dsnews.com/cat/foreclosure
Watchdog: IRS tormenting struggling taxpayers
A government watchdog says the Internal Revenue Service is tormenting struggling taxpayers in the midst of a slumping economy by increasing the number of liens the agency has filed against people who owe back taxes.
http://www.msnbc.msn.com/id/40929461/ns/business-us_business/
IRS's 'hard-core' collection tactics needlessly harm taxpayers, report says
The Internal Revenue Service's increasing use of "hard-core" collection tactics "is inflicting unnecessary harm on financially struggling taxpayers," an in-house critic at the IRS said Wednesday.
http://wapo.st/fH0d2X
Should the IRS consider a lien moratorium?
It doesn't make sense that the IRS is acting so aggressively at a time when the idea of foreclosure moratoriums has entered the mainstream. If we're willing to give people an extended opportunity to get on their feet when it comes to saving their houses, why not do the same with taxes?
http://bit.ly/hLotD0
LPS: Foreclosure Inventory Rises for Fifth Straight Month
At the end of November, nearly 2.2 million loans were 90 days or more past due but not yet referred to a foreclosure attorney. Of these, one-third have not made a mortgage payment in at least a year.
http://bit.ly/fxq43z
Now is the time to sell, real estate consultant says
People who have been delaying putting their homes on the market should do it soon because prices may go down 5% to 8% as banks unload a glut of repossessed properties.
http://lat.ms/ftQYh8
New claims for unemployment benefits rise above 400,000
SHOPPING: Retailers report surprisingly weak December
http://www.usatoday.com/money/economy/2011-01-06-unemployment-benefits_N.htm
Census: Number of poor may be millions higher
1 in 6 Americans - many of them 65 and older - are struggling in poverty.
http://www.msnbc.msn.com/id/40930573/ns/us_news-life/
From Information Clearing House
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=spending
http://freepage.twoday.net/search?q=Internal+Revenue+Service
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=real+estate
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=mortgage
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=foreclosure
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=unemploy+benefit
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=taxpayer
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=census
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=poverty
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