Feb 18 Obama Unveils $75 Billion Mortgage Plan By PBS News Hour One day after signing a $787 billion stimulus bill into law, President Barack Obama outlined a $75 billion plan to help stem foreclosures, which is at the heart of the nation's deepening economic woes. Continue reading
Feb 18 At What Point Does Increasing Productivity Damage a Consumption-Based Economy? Question/Comment: At what point does increasing Productivity damage a consumption-based economy? Can this be discussed with respect to the recent historically high levels of productivity in “modern industrialized” economies with relatively inelastic labor pools? Paul Solman: Most economists will tell… Continue reading
Feb 18 GM, Chrysler Paint Dire Picture in Plea for More Federal Aid By Admin, PBS News Hour Nine weeks after automakers made their first plea to Congress for emergency aid, General Motors and Chrysler submitted new restructuring strategies and requests for additional federal funds that could bring the government's total tab to $39 billion. Continue reading
Feb 17 Watch Amid State Struggles, Calif. Faces Deep Budget Shortfall As the stimulus goes into motion, states around the nation are facing budget shortfalls. California is facing a particularly dire situation, with thousands of jobs on the line. Continue watching
Feb 17 Watch Other News: Automakers Race to Submit Restructuring Plans, Stocks Sink In Tuesday's other news, automakers raced to submit new restructuring plans and U.S. markets tumbled further on worries about the auto industry and the deepening recession. Continue watching
Feb 17 Watch Obama Signs Economic Stimulus Package Into Law President Barack Obama signed the landmark $787 billion economic stimulus package Tuesday. Kwame Holman reports on the president's latest efforts to communicate his economic plans in visits to cities around the country. Continue watching
Feb 17 Facing Budget Deficits, States Eye Stimulus Funds By PBS News Hour As governors and state legislatures examine the economic stimulus bill President Obama plans to sign Tuesday, they are assessing whether it could help them avoid raising taxes, cutting jobs or scaling back programs to close growing budget deficits. Continue reading
Feb 17 Should the Government Spend or Give Out Tax Cuts? Editor’s Note: Paul recently answered “Five Good Questions” on the economy for the PBS Engage blog. You will also be able to find those answers here on the Business Desk all week. Question/Comment: There seems to be… Continue reading
Feb 16 Watch Foreclosure Crisis in California Devastates Some Neighborhoods In California, one in 25 homes faces foreclosure. Areas such as Inland Empire, known as "the affordable Orange County," are particularly hard-hit. KCET's "SoCal Connected" program reports on the crisis. Continue watching
Feb 16 Watch Other News: California Fails to Resolve Budget Crisis, Burris Denies Dishonesty In the day's other news headlines, California lawmakers failed to resolve the state's budget crisis, and Sen. Roland Burris, D-Ill., denied any dishonesty over his contacts with ousted Illinois Gov. Rod Blagojevich. Continue watching