In the long view of history, technological advancement unleashed by the Industrial Revolution has come to be seen as a net positive for economic development and everyone’s well-being, even those workers who initially lost their jobs. There’s reason to wonder, however, if this “second machine age” may be different.
In other news Tuesday, President Barack Obama told health insurance companies not to use the health care overhaul as an opportunity to raise rates, and the administration unveiled a new plan to combat homelessness. Continue reading
In other news Tuesday, the Nigerian man accused in the Christmas Day airliner attack is said to be cooperating with the FBI, and White House budget director Peter Orszag defended the administration’s $3.8 trillion budget proposal on Capitol Hill. Continue reading
President Obama proposed a $3.8 trillion budget Monday, a plan that would boost spending for education and increase taxes on the wealthy. But the budget deficit would grow to more than 10 percent of GDP before seeking deficit trims. Gwen Ifill talks to analysts about the tensions between spending and deficit reduction. Continue reading
In an interview with Judy Woodruff, Peter Orszag, director of the White House’s Office of Management and Budget, outlines how health care reform will reduce medical costs. Continue reading
Federal Reserve Chairman Ben Bernanke advised moving “aggressively” to ease the economic crisis during testimony to lawmakers Tuesday while defending the government’s latest moves to prop up troubled insurance giant American International Group. Continue reading
White House Budget Director Peter Orszag details the new $3.5 trillion budget plan, explaining how the Obama administration will balance policy priorities and an anticipated $1.75 trillion deficit. Continue reading