President Obama's new budget, unprecedented in size, scope and borrowed, money takes the federal government's finances into uncharted realms. Someone who never ran an enterprise larger than his Senate office staff is asking Congress and the American people to put a lot of trust in his financial savvy.
Trillions of dollars in government spending might stabilize the economy, but for now it may have weakened some U.S. security interests abroad and hampered the nation's ability to respond financially to an attack at home.
That curious conclusion by security and financial analysts reveals one of the unexpected consequences that could emerge from the government's bailout and stimulus plans. It also shows how intertwined the economy and national security have become. The top U.S. intelligence official, Dennis Blair, recently said the economy was the nation's foremost security concern.
U.S. Treasury Secretary Timothy Geithner on Wednesday scolded bankers for creating a damaging loss of confidence, but said nationalizing the banks was the wrong strategy for the United States.
In an interview with PBS television's "NewsHour" program, Geithner said he was "deeply offended by the quality of judgments we've seen in the leadership of our nation's financial institutions."Read More
One in four Americans said in a survey that someone in the family put off needed health care in the past year because of cost, including 16 percent who postponed surgery or a doctor's visit for chronic illness.
In all, 53 percent of Americans in the Kaiser Family Foundation poll released Wednesday said they or a family member living with them cut back on health care in one or more ways to save money in the past 12 months.
I'm beginning to hear the welcome sounds of an economy starting to rouse itself out of slumber. I'm not saying it's turned around yet, or anything close to that. I'm just sensing and hoping that bottom may have been struck, or that the slide is starting to slow. We may still be months, if not years, away from economic growth. But the speed of the crash seems to be slowing.
As the son of a journalist who became an ink-stained wretch himself, I take the current crisis in the newspaper industry rather personally. (So does the bank holding the mortgage on my house.) In the Internet age, the problem with the print media is similar to that of the world's oldest profession, to which it is often compared, although print journalists tend not to be as attractive under a street light.
With consumer confidence at a record low, home prices in record decline, a major stock-market index at a 12-year low, stocks selling so low that the New York Stock Exchange is considering listing penny stocks and major retailers reporting a significant decline in profits, we may be grasping at straws here. BUT:
Federal Reserve Board chief Ben Bernanke is telling Congress that the recession could -- could -- end this year and we'll be on our way to recovery next year. He called that "a reasonable prospect."
Today we take a tough-truth look at just why it is that many Americans seem to believe that the word "liberal'' is really just a prefix to the word "media.''
Consider the coverage of the Feb. 18 remarks by Attorney General Eric H. Holder Jr. at the Justice Department's African American History Month Program. Or, as you probably better know it, Holder's "nation of cowards" speech.
So, a guy walks into a restaurant. Who makes sure his food is safe? It depends on what he eats.
A cheese pizza that arrived at the restaurant frozen? The Food and Drug Administration is in charge of inspecting it.
A frozen pepperoni pizza? That's the Agriculture Department.
A new government report on medical costs paints a stark picture for President Barack Obama, who is expected to call for a health care overhaul in a speech Tuesday night to a joint session of Congress.
Even before lawmakers start debating how care is delivered to the American people, the report shows the economy is making the job of reform harder.
Health care costs will top $8,000 per person this year, consuming an ever-bigger slice of a shrinking economic pie, says the report by the Department of Health and Human Services, due out Tuesday.