Aug 06 Watch Long-Term Joblessness Takes Emotional, Spiritual Toll on '99ers' July's jobs reading came as bad news for job seekers and the U.S. economy. The Labor Department reports that 6.6 million people have been unemployed for 27 weeks or longer. Paul Solman talks to people who have been out of… Continue watching
Aug 06 Watch 'Disappointing' Jobs Report Shows Uphill Climb for Unemployed Americans The latest job numbers show the economy is struggling to get back on track. In July, the government cut 131,000 temporary Census jobs and only about 71,000 jobs were gained in the private sector. Ray Suarez sits down with economist… Continue watching
Aug 05 Watch News Wrap: Supermodel Campbell Testifies in Taylor War Crimes Trial In other news Thursday, Senate Democrats passed a $26 billion aid package for state and local governments, supermodel Naomi Campbell testified at the war crimes trial of former Liberian leader Charles Taylor, and several U.S. citizens were charged for supporting… Continue watching
Aug 05 What Would Happen if the U.S. Government Defaulted on its Debt? Question: I’ve heard the comment that if the U.S. government were to default on its debt, “everything goes down” — presumably banks, credit unions, etc. Would a default necessarily result in runs on retail banks and credit unions and insufficient… Continue reading
Aug 05 BP Begins Cementing Well in Final 'Static Kill' Step Updated 5:07 p.m. ET BP says it has finished pouring cement into the well. "Monitoring of the well is under way in order to confirm the effectiveness of the procedure," the company said in a statement. Updated 1:57 p.m. ET… Continue reading
Aug 05 Missouri's Primary Results: the Effects of the Tea Party and Pizza Coupons By Dante Chinni As this blog has noted in many posts, despite the media coverage of the political movement known as the tea party, it is difficult to tell what its impact is or will be in the… Continue reading
Aug 05 Gulf Residents Ask: Will Promises Be Broken on the Oil Spill Response? By Tom Bearden A lot of people in south Louisiana think the rest of the country is about to abandon them. Again. On Wednesday, the U.S. government announced that most of the oil from the Macondo well blowout is already gone… Continue reading
Aug 04 Pelosi Calls House Back to Work Next Week for Funding Bill Updated 6:36pm EST Senate Democrats overcame a Republican filibuster Wednesday to move legislation that would provide states with funding for Medicaid and education. The $26 billion package passed by Senate Democrats and two Republicans may require the House of Representatives… Continue reading
Aug 04 Why is Stimulus Spending the Government's Responsibility? Question: Why does the government have to do anything in the way of a stimulus? Since many banks and corporations have more capital than at any time in recent memory (according to many accounts), why don’t they invest that into… Continue reading
Aug 04 BP's 'Static Kill' Holding Back Oil Flow Nearly four months after the worst accidental oil leak in history began in the Gulf of Mexico, BP is claiming a victory in its effort to plug its blown-out oil well. BP said Wednesday that mud forced down the… Continue reading