President-elect Barack Obama named Peter Orszag as his budget director Tuesday and pledged the rein in the federal budget. Financial experts mull his proposals and weigh in on the complex process of trimming federal programs. Continue reading
President-elect Barack Obama’s first post-election interview Sunday on CBS’s “60 Minutes” offered insight on his immediate plans, long-term goals and limits to his presidential power. Ryan Lizza of the New Yorker discusses the interview’s revelations. Continue reading
- When the Government Issues New Treasury Debt and Puts it into the Banking System, Does That Mean More Dollars in the World, and Thus Inflation?
Paul Solman: Several weeks ago, former Fed Chairman and economic boom cheerleader Alan Greenspan said this before Congress: “Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity, myself included, are in a state … Continue reading
Amid questions about Sen. Barack Obama’s readiness for the presidency, former U.S. Treasury Secretary Robert Rubin of the Clinton administration sheds insight on Obama’s capabilities and the likelihood that Americans will coalesce around his domestic and international economic agenda. Judy Woodruff and Rubin discuss. Continue reading
Question/Comment: Can you elaborate on the pro and con arguments behind our current account deficit? How much of a drag is it on GDP growth? Paul Solman: Pro: We get to buy more now than it costs us now. Con: … Continue reading
- How much of the U.S. economic problems are caused by the deficit and what percentage of the deficit is the Iraq war?
Question/Comment: 1. How much of the U.S. economic problems are caused by the deficit? 2. What percentage of the deficit is the Iraq war? 3. How can the U.S. ever pay off the deficit, and how long will it take? … Continue reading
- It’s been a long time since I took Econ. 101, but as I remember, if you keep printing ever-greater amounts of currency, inflation takes on a life of its own.
Question/Comment: It’s been a long time since I took Econ. 101, but as I remember, if you keep printing ever-greater amounts of currency, inflation takes on a life of its own. Isn’t that what we’ve been doing at the rate … Continue reading
Rep. Charlie Rangel, D-N.Y., has proposed a plan to eliminate the alternative minimum tax, designed in 1969 to ensure wealthy Americans paid their fair share of taxes but which was never indexed for inflation. Rangel and Rep. James McCrery, R-La., debate the tax plan. Continue reading
President Bush sent Congress a proposed $2.9 trillion spending blueprint, which includes $245 billion for military efforts in Iraq and Afghanistan. White House budget Director Ron Portman and Senate Budget Committee Chairman Kent Conrad, D-N.D., debate the numbers. Continue reading