July 17, 2010 |
Imagine a world where prices of all sorts of goods and services just keep moving down. Your weekly grocery bill shrinks. Your hairstylist gladly accepts 15% less, just to get the business. At long last, movie theaters even stop gouging you on popcorn. Good times? Sure — until your employer cuts your salary or fires you to cope with the need to reduce prices. Suddenly, the economy is in the grip of a vicious spiral, as falling consumption forces prices lower, driving unemployment up, which in turn drives consumption and prices down further.
September 17, 2008 |
Under fire for his assertion that the American economy is fundamentally sound, John McCain moved Tuesday to assure voters of his empathy and accused Barack Obama of attempting to take political advantage of the roiling Wall Street crisis. Obama on Tuesday castigated McCain as having been "scornful" of the very Wall Street regulations he was now espousing, and he launched television ads mocking McCain's Monday statement. The Arizona senator spent seven national TV interviews and two campaign events seeking to make it clear that he understood the depth of concern about the rocky economy.
October 4, 2008 |
The country's prime minister said Canadians don't need a Parliament that acts like the U.S. Congress and panics like the U.S. Treasury Department. Prime Minister Stephen Harper criticized the way the U.S. has managed the credit crisis a day after political rivals said during a debate that the Canadian leader was out of touch with the seriousness of Canada's slowing economy. The Conservative Party leader said he needs a strong mandate from voters in the Oct. 14 national elections so he can deal with the economy.
February 6, 2013 |
The federal deficit will dip below $1 trillion for the first time in five years, a substantial improvement in the fiscal outlook, but one that masks a persistent budget gap that will probably worsen later this decade, according to the Congressional Budget Office. The last two years of budget battles between the White House and congressional Republicans, coupled with the recovering economy, have slowed the government's gush of red ink. But steps to reduce the deficit have acted as a drag on the economy, slowing the recovery, the budget office said.
July 3, 2005 |
The Fourth of July weekend seems like a good time to examine some of the heat and rhetoric lately surrounding one of the basic building blocks of our society: immigration. There is widespread concern that too many immigrants are coming in and, worse, that waves of unskilled workers will form a permanent underclass and change the historic dynamic of American society. These are serious matters. Immigration is part of the DNA of America, and it's as necessary today as ever.
October 29, 2008 |
Worried by the worsening economy, Kristen Olson decided she'd better start saving money. She tallied her expenses and was walloped by sticker shock: She and her roommates were spending $900 a year for cable TV. "I'm not watching $900 worth of cable," said the 25-year-old advertising account coordinator, who lives in North Hollywood. She's trying to persuade her roommates to drop the service.