- GOP offers 10-year, $2.2 trillion plan to Obama
- Fiscal cliff talks turn into a game of chicken
- From the fiscal frying pan into the debt ceiling fire
- Tax the rich more? Most Americans say yes
- Heartland states on high alert over fiscal cliff
- 4 high-yield stocks that can survive the crisis
- Thoma: The case for breaking up the big banks
Who do you think is most to blame for the fiscal impasse?
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Federal Reserve Board policymakers face a terrible dilemma. They can’t do what needs to be done to stimulate a near moribund economy. And what they can do won’t help very much.
Federal Reserve Board policymakers, meeting this past week in Washington, face a terrible dilemma. They can’t do what needs to be done to stimulate a near moribund economy. And what they can do won’t help very much.
The dilemma stems from the core problems facing the economy, which slowed to 1.5 percent in the second quarter. First and foremost is the continued economic drag from government budget cuts, which has cost over 600,000 state and local public employees their jobs over the past 18 months and over 50,000 federal employees their jobs in the past year. Without those job losses, unemployment in the U.S. would be a half to a full percentage point less than what it is today, economists say.
Obama can't breathe easy as the US economy remains moribund.
Do big banks need to be broken up?
Treasury Secretary Timothy Geithner’s admission on Wednesday that he failed to blow the whistle on the Libor scandal and former Citigroup chairman Sandy Weill’s call to break up the banking behemoths seem at first blush to have little in common.
But they are, in fact, two sides of the same coin.
Come September and October, action groups can expect to fork out as much as 4 times what individual candidates pay.
By Julie Bykowicz
To make his closing argument to Iowa voters on the day of the Jan. 3 caucuses, Republican presidential candidate Mitt Romney spent $1,000 to air a minute- long television ad during one of the Des Moines market's top- rated morning news programs.
The same airtime on CBS affiliate KCCI-TV was in demand by a super PAC helping Romney, and Restore Our Future paid a 50 percent premium to place its commercial.
The power of political action groups isn't just in their ability to buy airtime. Their more insidious function may be influencing legislation before a single dollar is spent.
By Ezra Klein
Campaigns need votes to win. But they need money simply to survive. They get that money from a vanishingly small percentage of Americans.
According to Harvard law professor Lawrence Lessig, only 0.26 percent of Americans give more than $200 to congressional campaigns. Only 0.05 percent give the maximum amount to any congressional candidate. Only 0.01 percent -- 1 percent of 1 percent -- give more than $10,000 in an election cycle. And in the current presidential election, 0.000063 percent of Americans -- fewer than 200 of the country's 310 million residents -- have contributed 80 percent of all super-PAC donations.
The GOP candidate's trip to Europe skips over the toughest problem.
Mitt Romney travels abroad this week to polish his presidential resume. But since Romney will avoid confronting head-on the vicious sovereign debt crisis in Europe that already appears to have engulfed the American economy, the trip may seem more like a vacation.
The presumptive Republican nominee plans to jet across the continent without setting foot inside the eurozone, the 17 countries bound together by a shared currency that are struggling to rescue the debt-ridden nations of Greece, Italy and Spain. Bailout packages for all three have done little to restore growth and calm jittery markets, which plunged again on Monday ahead of a visit by European officials to assess efforts by the Greek government to reduce its debt burden.
Commentary: There is no evidence that the company has discriminated against gays.
Chick-fil-A's views on gay marriage are neither new nor surprising, and the rush to vilify the chicken restaurant chain has got one serious flaw: There is no evidence that the company has ever mistreated lesbian, gay, bisexual or transgender employees or customers.
As Congress bickers over the future of the system, the USPS faces its first default ever.
The service owes a $5.5 billion payment due Aug. 1 that was deferred from fiscal 2011, The New York Times reports. Then it has $5.6 billion payment due at the end of September.
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- Jan crude oil slipped further into negative territory today on higher-than-anticipated builds in gasoline and distillate inventories.
- Although the EIA reported that crude oil inventories had a draw of 10.6 mln barrels when consensus called for a draw of 2.7-3.0 mln, gasoline stockpiles rose 6.7 mln vs expectations for a build of 1.7-2.0 mln barrels. Distillate inventories rose 4.5 mln barrels when consensus called for a smaller build of 1.5-1.6 mln.
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