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Pentagon’s Failure to Audit Contracts Wastes Billions

REUTERS/Matt Sullivan

News, Analysis and Opinion

The 41 Questions Max Baucus Wants to Ask the IRS

JOSH BOAK, The Fiscal Times | May 21, 2013

Montana Sen. Max Baucus has plenty of questions about the IRS targeting Tea Party groups—41 of them, to be...

What’s Grounding the Commercial Drone Industry?

BRIANNA EHLEY, The Fiscal Times | May 21, 2013

It’s a bird…it’s a plane…it’s a…flying robot delivering mail? The same aerospace technology the CIA uses to...

The Unemployed Need Bold, Creative Moves from the Fed

MARK THOMA, The Fiscal Times | May 21, 2013

The Federal Reserve has increased the size of its balance sheet nearly four-fold since the onset of the financial...

New Enemies in North Dakota's Fracking Fracas

ERNEST SCHEYDER, Reuters | May 20, 2013

In towns across North Dakota, the wellhead of the North American energy boom, the locals have taken to quoting...

High School Drop Out Sells Company for $1.1 Billion

THE STAFF, Reuters | May 20, 2013

Yahoo Inc said it is buying blogging service Tumblr for $1.1 billion cash, giving the struggling Internet pioneer...

WH Counsel Had Early Warning of IRS Audit

BRIANNA EHLEY, The Fiscal Times | May 20, 2013

President Obama’s chief counsel, Kathryn Ruemmler, learned weeks ago that an audit of the Internal Revenue...

Has Fed Bond Buying Helped Everyday Americans?

THE STAFF, Reuters | May 20, 2013

While the Federal Reserve's accommodative policies have boosted stocks and helped the rich, it is unclear whether...

Dell’s Dire Earnings Present Dim Hope for Turnaround

SUZANNE MCGEE, The Fiscal Times | May 20, 2013

It shouldn’t have come as a great shock to anyone that Dell’s fiscal first-quarter results, reported Thursday,...

McConnell Skirts Obama Impeachment Questions

DAVID FRANCIS, The Fiscal Times | May 19, 2013

Senate Republican leader Mitch McConnell (Ky.) sidestepped earlier Republican comments suggesting that Obama had...

IRS Scandal: Administration Official Knew a Year Ago

ANDY SULLIVAN, KIM DIXON, Reuters | May 19, 2013

The outgoing head of the U.S. Internal Revenue Service angered Republican lawmakers on Friday by resisting their...

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We've hit the debt ceiling again, and the U.S. is on life support. Are we headed for another blowout?

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5 Questions For...

D.J. Patil
Chief Data Scientist, Greylock Partners

"How is big data changing the way business captures customers? "

"Data science now has a front seat. Consider the success of ‘Moneyball’ and of election predictions. We’ve gone from targeting customers to building data products to benefit customers – like Google’s self-driving car. "
"Tell us something we don't know about a data scientist’s job."

"The most powerful skill of a great data scientist is the ability to create a narrative. Data by itself is cold. It’s the human that makes it come alive and be useful. "
"What excites you most about the field? "

"The ability to improve people’s lives, as in forecasting Hurricane Sandy. People are also using data to better track their health. There are advances in genomic analysis, too. "
"What concerns you most about this field? "

"We’re in an arms race against those who would breach security systems. There are very sophisticated data products out there. We need to better discuss privacy and the appropriate use of data by the government. "
"Best way to prepare the data scientists of the future? "

"Students need a great foundation in math, statistics, computer science. Domain expertise is also required. They also need to have another multidisciplinary area – biology or physics, for example. "

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Cartoons

“He said that he is socially liberal and fiscally conservative, but what he meant is that he sleeps around and is cheap.”
“You’re in luck, in a way. Now is the time to be sick – while Medicare still has some money.”
“Will this be cash or consumer debt?”
“Is there a history of recession in your family?”
“Something sleek and recessionproof, Edward”
“Well, so long, Eddie. The recession’s over.”
“I need some short-term economic stimulus.”

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Quote of the Day

[The AP violation] is a matter of policy. To say that there was “no knowledge of this” in the White House is false. This goes to the President and the people around him.