Feb 03 Watch Obama Jobs Push Focusing on Small Business President Obama is looking to cut the nation's unemployment rate by offering more aid for small business, but a plan to borrow from TARP has some lawmakers balking. Continue watching
Feb 02 Volcker to Press Lawmakers to Restrict Activities of Big Banks By Carolyn O'Hara White House adviser and former Fed chairman Paul Volcker will testify before the Senate Banking Committee Tuesday and press its members to restrict the activities of big banks and limit their overall size. In making the case for what's… Continue reading
Feb 02 What Are the Indirect Costs of the Financial Meltdown and Bailouts? Question: There are endless comments in the news lately about the banks paying back “every penny” of the “costs” of the financial meltdown. In any civil proceeding that I know of, when a plaintiff asks for damages pursuant to someone’s… Continue reading
Feb 02 Tuesday’s Headlines: Budget Hearings; ‘Don’t Ask, Don’t Tell’ Repeal Underway By Tom LeGro One day after the Obama administration released its $3.8 trillion budget plan, Treasury Secretary Timothy Geithner and the president's budget director, Peter Orszag, are set to explain it Tuesday before congressional committees. Also on Capitol Hill, Defense Secretary Robert Gates… Continue reading
Feb 02 Watch Are Big Banks Good for the Economy? The Obama administration is trying to rein in big banks, but Robert Kelly, chief executive officer of Bank of New York, says that's a big mistake. Continue watching
Feb 02 Watch News Wrap: Christmas Day Plot Suspect Reportedly Cooperating with FBI 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 watching
Feb 01 Links to Help Break Down the Budget The budget President Obama released Monday would spend about $3.8 trillion in the 2011 fiscal year (which actually starts this October). Here are a few ways to understand that very large number: The New York Times… Continue reading
Feb 01 What Effect Will a Freeze on Discretionary Spending Have on the U.S. Economy? Question: What effect will a freeze on discretionary spending have on the U.S. economy? Paul Solman: There are two large points to be made here. One is that most of the U.S. budget is… Continue reading
Feb 01 Obama: Changing Spending-as-Usual Depends on Changing Politics-as-Usual By Carolyn O'Hara In remarks this morning about his newly unveiled budget for fiscal 2011, President Barack Obama defended his administration’s fiscal record as preventing further economic disaster but declared that “budget common sense” should now guide Washington’s spending. “I’m… Continue reading
Feb 01 Monday’s Headlines: Obama to Submit $3.83 Trillion Budget By Tom LeGro President Barack Obama plans to send Congress a $3.83 trillion budget that calls for more money to fight high unemployment and cuts in spending for government programs to reduce a projected record deficit this year. President Obama's plan would raise… Continue reading