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
Feb 01 Watch Toyota Details Fix for Faulty Pedals Toyota announced Monday it has found a solution to the gas pedal problem that forced the automaker to recall millions of vehicles and stop selling eight popular models in the U.S. Continue watching
Feb 01 Watch Obama Budget Fuels Debate Over Path to Slash Deficit 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… Continue watching
Jan 29 U.S. Economy Expands at Fastest Rate in Six Years A better-than-expected GDP report Friday indicated that the U.S. economy grew at 5.7 percent in the quarter October through December 2009, the largest increase since the third quarter of 2003. The report, which is a broad measure of… Continue reading
Jan 29 Watch News Wrap: Economy's Growth Surprises, But Jobs Still Lag In other news, the U.S. economy grew by 5.7 percent in the fourth quarter, more than expected, and Toyota outlined steps it is taking to help end an unprecedented recall. Continue watching
Jan 29 Watch With Businesses Destroyed, Haiti's Capital a 'Cashless City' The realities of the Port-au-Prince economy have become brutally simple. With most businesses now gone, banks still closed, and thousands jobless, the city is virtually cashless. Ray Suarez reports from Haiti. Continue watching
Jan 28 Bernanke Approved for Second Term at Fed The Senate voted 70-30 Thursday afternoon to approve Ben Bernanke for a second four-year term as chairman of the Federal Reserve. After several hours of debate in which Bernanke supporters argued that voting down his nomination would imperil a… Continue reading
Jan 28 Keynes-Hayek Rap Video Goes Viral! Non-economists Worldwide Infected! Paul Solman: Forgive the sensationalist headline, but after the pummeling we took for debuting the Keynes v. Hayek rap smackdown in December, what harm in bringin’ in more noise and funk? First came the… Continue reading