The Chinese government announced Wednesday that their defense budget will increase by 12.2 percent, nearly 808 billion yuan, for the 2014 fiscal year.
In U.S. dollars, China will be boosting its defense budget from $117 billion to approximately $132 billion, the biggest military increase in the last three years, Reuters reports. The military expansion includes investments in computer software technology and a boost in spending for their navy, one capable of operating in international waters. Continue reading
The latest round of economic reports show consumer confidence at its highest level since 2007. Consumer spending and home sales are up, as well defense spending. Jeffrey Brown talks to investment advisor Hugh Johnson about the new data — good and bad — including exports decline, job growth rates, and the effect on campaigns. Continue reading
Margaret Warner fact-checks different debate highlights, including Mitt Romney’s characterization of President Obama’s early overseas trips, what the candidates said about their opponent’s and their own defense spending proposals, and the ideal scope and size of the Navy. Continue reading
Romney’s campaign is trying to win over middle class voters by promoting Mitt Romney’s tax plan, which would lower individual tax rates. Judy Woodruff talks to Tax Policy Center’s Bill Gale and Tax Foundation’s Scott Hodge about a new study that states the rich, not the middle class, stand to benefit most from Romney’s plan. Continue reading
Question/Comment: I would like to know the impact of military spending on our economy. It seems like it’s a pretty hefty percentage of the annual budget, almost equal to that spent on Social Security; more than is spent on Medicare. … Continue reading
The NewsHour’s Congressional Correspondent Kwame Holman provides a report on what Congress will accomplish before they adjourn to campaign, as well as what issues may be put on hold. Continue reading