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
The Bush administration unveiled a plan Tuesday to stabilize the teetering U.S. banking system with as much as $250 billion of the financial sector rescue fund. Three economic experts discuss the impact of the plan. Continue reading
- Kindly explain just how the U.S. taxpayer will be asked to cough up nearly $ 1 trillion to pay for this bailout?
Question/Comment: Kindly explain just how the U.S. taxpayer will be asked to cough up nearly $ 1 trillion to pay for this bail out? Nobody has spelled this out in detail as far as I know. Can we expect our … Continue reading
The government’s $700 billion financial bailout proposal now faces lawmaker approval. Senate finance committee members describe which parts of the plan are stirring debate. Continue reading
Question/Comment: I have 2 naive questions: 1. This is a nuts and bolts/dollars and sense (pun intended) question: Where do the funds for the bailouts and related rescue efforts in fact come from? What is the source of the funds? … Continue reading
After the U.S. Treasury’s decision to take over mortgage giants Fannie Mae and Freddie Mac, Senate Banking Committee members Chris Dodd, D-Conn., and Richard Shelby, R.-Ala., provide Congressional perspective on the rescue plan and assess the road ahead. Continue reading
- It is often said that tax cuts help the economy because the taxpayer spends the money. I do not see how that works.
Question/Comment: It is often said that tax cuts help the economy because the taxpayer spends the money. I do not see how that works. After all, the government spends money, too. So what does it matter who spends the money? … Continue reading