Related Content: economy

CBO: Taxmageddon Would Throw U.S. Back into Recession

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Tax hikes and spending cuts set to take effect in January would suck $607 billion out of the economy next year, plunging the nation at least briefly back into recession, the nonpartisan Congressional Budget Office said Tuesday. Unless lawmakers act, the economy is likely to contract in the first half of 2013 at an annualized rate of 1.3 percent, the CBO said, before returning to 2.3 percent growth later in the year.

Poll: Obama, Romney in Dead Heat on Economy

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After months of aggressive campaigning on jobs and the economy, President Obama and Mitt Romney, his likely Republican challenger, are locked in a dead heat over who could fix the problem foremost on voters’ minds, according to a new Washington Post-ABC News poll.

Is GOP Stalling on Economy to Hurt Obama?

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Are Republican lawmakers deliberately stalling the economic recovery to hurt President Obama's reelection chances? Some top Democrats say yes, pointing to GOP stances on the debt limit and other issues, which they say are causing unnecessary economic anxiety and retarding growth. The latest Democratic complaint came after House Speaker John A. Boehner said last week that when Congress raises the nation's borrowing cap in early 2013, he will again insist on big spending cuts to offset the increase.

European Woes Increase G-8 Summit Tension

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Bloomberg's Julianna Goldman reports that President Obama pushed for a Euro zone growth package as leaders of the Group of Eight nations urged Greece to stay in the euro area, even as an increasingly isolated Germany said Europe can’t spend its way out of the debt crisis.

Economy v. Favorability in Campaign 2012

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CBS News Chief White House Correspondent Norah O'Donnell and CBS News Political Director John Dickerson on the real issues in Campaign 2012.

Europe's Fate, and Obama's, May Ride on G8

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President Obama has a weekend challenge ahead of him: Can he persuade European leaders gathered in the Maryland woods outside Washington, D.C., to adopt the U.S. fiscal example of short-term bailouts, government stimulus and long-range plans for belt-tightening in order to promote growth and stave off a fiscal meltdown in the Eurozone?

Boehner: No Budget Brinksmanship From Me

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House Speaker John Boehner (R., Ohio) professed bafflement Thursday about the reaction to his comment Wednesday that any increase in the debt limit at the end of the year must be accompanied by spending cuts and other savings of greater value.

The 1 Percent Solution

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Nick Hanauer toddled through his early years in a cramped Greenwich Village apartment. His mother waited tables at the Bitter End. His father worked low-level jobs on Wall Street and as an editor at a publishing house. When Nick was 5, his folks left New York to join a family pillow-making business in the Pacific Northwest.

Obama and House Republicans Offer Taste of Renewed Fight Over the Debt Ceiling

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President Obama and Congressional Republicans staged a preview of a looming end-of-year battle on Wednesday, as the president warned Republicans that he would not allow Congress to hold the economy “hostage” to another fight over whether to raise the country’s debt ceiling without accompanying cuts in spending.

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(CNN, File Photo)

Seeking the Missing Five Million Workers

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In the past two years, the over-age-16 population of U.S. has grown by 5.4 million. But the "labor force" hasn't grown at all. David Wessel on The News Hub looks at what's behind the drop and why you should care.