Category Archives: Economy

Obama halts tighter smog rule, citing ‘regulatory burdens’

By doris | Published: September 2, 2011

Full Story at msnbc.com WASHINGTON — Citing the financial burden in a struggling economy and after Republican protests, President Barack Obama on Friday ordered the Environmental Protection Agency to shelve a proposal to tighten smog standards. “I have continued to underscore the importance of reducing regulatory burdens and regulatory uncertainty, particularly as our economy continues [...]

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First Thoughts: Dog days

By doris | Published: August 20, 2011

Full Story at FirstRead.msnbc.msn.com Another “dog days” of August for Obama… The good news: He has time to heal his wounds; the bad news: he has yet another hole to climb out of… Obama again talks about the economy and political brinksmanship… S&P is back in the spotlight (and not in a favorable way)… Vacation [...]

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China tells US to ‘cure its addiction to debt’

By doris | Published: August 7, 2011

Full Story at msnbc.com SHANGHAI — China, the largest foreign holder of United States debt, said Saturday that Washington needed to “cure its addiction to debts” and “live within its means,” just hours after the rating agency Standard & Poor’s downgraded America’s long-term debt. The harshly worded commentary, which was released by China’s official Xinhua [...]

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Obama signs bill ending partial FAA shutdown

By doris | Published: August 5, 2011

Full Story at CNN.com Washington (CNN) — President Barack Obama signed legislation Friday temporarily restoring full funding to the Federal Aviation Administration, breaking a political impasse and allowing roughly 4,000 furloughed federal employees to return to work. The measure also promises to restore tens of thousands of jobs in the construction industry and elsewhere tied [...]

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Students to feel pinch in debt deal

By doris | Published: August 2, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — The deal to raise the debt ceiling may remove the risk of a 2008-like meltdown in financial markets that had made employers very nervous in recent months. But even if the debt deal is passed by Congress, labor market experts don’t expect it to jumpstart hiring growth. [...]

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Washington strikes deal on debt ceiling

By doris | Published: August 1, 2011

Full Story at msnbc.com WASHINGTON — Ending a perilous stalemate, President Barack Obama and congressional leaders announced a historic agreement Sunday night on emergency legislation to avert the nation’s first-ever financial default. The dramatic resolution lifted a cloud that had threatened the still-fragile economic recovery at home — and it instantly powered a rise in [...]

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What Americans support (and don’t support) in cutting the deficit

By doris | Published: July 16, 2011

Full Story at FirstRead.msnbc.msn.com The entire debt debate has raised this question: What do you do to reduce the nation’s deficit? Republicans want to strictly cut government spending, while preserving all tax cuts and tax breaks. President Obama, by contrast, favors a balanced approach — some spending cuts, plus revenue increases and tax hikes. But [...]

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Is the debt ceiling unconstitutional?

By doris | Published: July 2, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Amid fears the United States risks default if lawmakers don’t raise the debt ceiling on time, some are suggesting President Obama could save the day by big-footing Congress. How? By invoking the Constitution and directing Treasury Secretary Tim Geithner to keep borrowing even if it means going [...]

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AARP slammed for not fighting Social Security cuts

By doris | Published: June 17, 2011

Full Story at newsYahoo.com WASHINGTON – AARP, the powerful lobby for older Americans, was hammered Friday by fellow activists for refusing to oppose any and all cuts to Social Security benefits, a position the group says it has long held as a way to extend the life of the massive retirement and disability program. The [...]

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Minnesota prepares for shutdown

By doris | Published: June 14, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Time is running out for Minnesota’s parks, highway rest stops and public universities, not to mention 36,000 state employees. If Gov. Mark Dayton and lawmakers don’t agree on a budget by June 30, the state government is expected to shut down. The state moved one step closer [...]

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Recession risk: Small, but growing

By doris | Published: June 12, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Experts worry that the risk of falling into another recession has increased, according to a CNNMoney economic survey. To be sure, economists still place long odds on that worst case scenario. But the odds are a lot less long than they were just a little while ago. [...]

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U.S. can break addiction to imported oil

By doris | Published: June 6, 2011

Full Story at CNN.com Argonne, Illinois (CNN) — Nobody likes soaring gas prices — not motorists, not consumers, not business owners, not elected officials. Now, even a Saudi prince, whose family’s massive wealth is built on oil, is complaining about the high price of gasoline. Recently. Saudi Prince Al-Waleed bin Talal told CNN’s Fareed Zakaria [...]

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