- 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
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Who do you think is most to blame for the fiscal impasse?
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VIDEO ON MSN MONEY
As cities face financial hardship and cut police forces, citizens find ways to fight crime themselves.
Dabney Lawless, 38, took it personally when criminals targeted her neighborhood in Oakland Hills with a rash of burglaries. It was December 2010, and due to the city’s budget shortfall, Oakland — a city with the California’s highest violent-crime rate — had just laid off more than 10 percent of its cops.
So Lawless started going door to door, recruiting neighbors to revive a dormant neighborhood watch group. The group, of which she’s a block captain, decided to do more than patrol the streets. Last year more than a hundred of them chipped in about $250 each to hire a private security company to cruise through the neighborhood in a patrol car. Lawless says that investment, plus neighbors using the watch group to keep each other informed about suspicious behavior, has already made the neighborhood feel safer, and though she doesn’t have the data to support it, she’s certain the number of burglaries has dropped dramatically.
Opinion: While throwing money at the nation's problems won't help, taking from the poor and giving to the rich would surely hurt even more.
The era of big labor is over.
By Kevin Mellyn
Though recent jobs numbers seem to suggest improvement, the underlying data tells a different story. The official statistics vastly underestimate real lack of work that Americans are feeling.
One of the key issues in November is which candidate can credibly promise the voters he can create jobs. The problem is that anyone making such promise is not telling the truth.
The GOP candidate is going beyond the economy in his campaign against the president.
The Associated Press
For months, Mitt Romney has had one main focus - bludgeoning President Barack Obama on the economy.
Now, the Republican presidential candidate has started poking at Obama from all sides as he looks to gain ground. In recent days, Romney has criticized Obama in TV ads and speeches on topics that include farm policy, transparency, military voting rights, welfare reform and religious freedom.
An income derived from capital gains is easier to manipulate for tax purposes.
By Rick Newman
Did he or didn't he? This is the oddly intriguing question swirling around Mitt Romney as critics contend that he may have paid no income tax for some portion of the last 10 years.
Senate Majority Leader Harry Reid has become chief inquisitor in this weird populist trial, claiming that a "successful businessman" familiar with Romney's finances told him that the Republican presidential candidate paid no taxes for a decade. There's a McCarthyist air to Reid's charge--since there's no proof that it's true--yet it may also be politically effective, since Romney already struggles with an aristocratic, out-of-touch image.
The doom-and-gloom economist blames UK policymakers for scaring citizens and tourists away from the Games.
Famously bearish economist Nouriel Roubini has branded the Olympics an "economic failure," saying Londoners have left the city and tourists have stayed away after "excess warnings."
The Games were meant to boost tourism in the United Kingdom, and in London in particular, with an extra million visitors a day, but many shopkeepers have reported a drop in activity.
A horrific year-end confluence of expiring tax cuts, automatic spending cuts, vanishing unemployment benefits and payroll tax breaks could carry the country over the edge.
Amid all the mania about the government driving off the fiscal cliff early next year, there is the usual complaint about Washington putting off the kinds of reforms that would stop the federal budget from becoming a time bomb year after year.
A horrific year-end confluence of huge expiring tax cuts, automatic spending cuts, vanishing unemployment benefits and payroll tax breaks, and gobs of unfinished legislative business could carry the country over the edge and back into economic hot water, we have been told repeatedly by Federal Reserve Board Chairman Ben Bernanke, lawmakers, and Wall Street economists.
Despite the competing party claims that their tax policies are popular with voters, polls show that the public has mixed views on the topic.
The 2012 tax debate was formally joined on Capitol Hill this week, as the Republican controlled House voted to extend Bush era tax cuts to all Americans, including the wealthiest, following Senate action last week in which the Democratic majority pushed through a measure that would raise taxes on the wealthiest two percent of taxpayers.
Neither measure will go anywhere – certainly not before the November election – and much of the rhetoric and debate was as much political sloganeering as thoughtful economic discourse. But the action in the two chambers mirrored the tough talk over taxes on the campaign trail, with President Obama portraying himself as the champion of the middle class while Republican challenger Mitt Romney argues that any tax increase would undercut small businesses and drive up unemployment.
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Follow Republican and Democratic presidential candidates as they battle for the White House. Explore how monetary and fiscal policies affect your finances. Get insightful analysis of the American political economy and the latest news on the 2012 election.
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[BRIEFING.COM] The stock market finished a down week on a cautious note with small caps leading the retreat. The Russell 2000 lost 0.5%, widening its weekly decline to 2.6%, while the S&P 500 shed 0.3%. The benchmark index ended the week lower by 2.7%.
This morning, the market was provided a basis to rebound with the July employment report, which was just right for the policy doves (209K versus Briefing.com consensus 220K). It showed payroll growth that was weaker than expected, ... More
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