Reigning in the deficit will be nothing short of a "suicide mission" for the people charged with the task, Alan Simpson, co-chair of President Barack Obama's bipartisan Deficit Reduction Commission, told CNBC Monday.
Simpson said, "A lot of blood hair and eyeballs have to lay on the floor before we finish. There's going to be anguishing. This is a suicide mission". It will come from all sides, the left and the right.
A full agenda on Closing Bell as Maria Bartiromo report live from Washington today. It’s all about the economy, the consumer, jobs… jobs… jobs and healthcare.
It has been a nice bounce back for stocks over the past couple of weeks. After falling about 8 percent off their January highs just 2 weeks ago, big cap indexes (Dow Industrials and S&P 500) are now just 3 percent off their highs.
President Barack Obama prodded states Monday to raise their school standards by using his best leverage: money.
I suppose it’s possible President Obama could have come up with a more anti-market reform to deal with its concerns over higher health insurance rates, but short of creating a single-payer health system, creating a seven-member panel to dictate the prices of health insurance is pretty close.
After their best week since November, stocks are looking to extend their current winning streak to five days. Asia jumped 2 percent overnight, while European markets remain fairly flat today.
US stock index futures pointed to a slightly higher open for Wall Street Monday, following the best weekly gains for the Dow and the S&P 500 in more than three months.
President Barack Obama is making a fresh attempt to rescue his health care overhaul by proposing a measure that would allow the government to deny or roll back egregious insurance premium increases that infuriate consumers.
President Obama will propose on Monday giving the federal government new power to block excessive rate increases by health insurance companies, as he rolls out comprehensive legislation to revamp the nation’s health care system, White House officials said.
Rep. Ron Paul won the most support for the 2012 Republican presidential nomination in an unofficial straw poll of conservative activists attending an annual conference.
The Fed laid the first stone on the path to higher rates with its discount rate hike, giving the markets a new way to gauge the economic recovery.
The New York Times ran a front-page story this week called “Party Gridlock in Washington Feeds New Fear of a Debt Crisis.” As usual, they got it wrong.
It should come as no surprise to anyone following the housing crash that the government's $75 billion Making Home Affordable program, a.k.a. mortgage bailout, is not all things to all borrowers.
So the Federal Reserve announced yesterday this discount hike to open up a penalty against the overnight fed funds rate. But you know what? No one is really borrowing from the discount window anyway. So while this news is making headlines, it’s really not a huge policy change.
Stocks were jittery following the Fed’s announcement that it is raising the discount rate — the rate that the Fed charges banks for loans. However, this move was expected following indications of a pending move by Federal Reserve Chairman Ben Bernanke during his Congressional testimony last week.
President Obama is in Las Vegas, a town with a 13 percent unemployment rate and a $887 million revenue shortfall. He comes with promises of $1.5 billion to help homeowners in hard hit markets who've lost their jobs or who are underwater in their mortgages.
Millions of seniors who signed up for popular private health plans through Medicare are facing sharp premium increases this year — another sign that spiraling costs are a problem even for those with solid insurance.
The Federal Reserve move to hike the discount rate was not a surprise in itself, but timing was sooner than many investors expected and the after-hours move gave Wall Street a shudder.
The deficit is now in the crosshairs of Washington with the President today announcing the creation of a budget deficit taskforce. If you do the math, this year's deficit is expected to climb to 10.6% of GDP. That's a huge increase compared to last year's 9.9% figure, which marked the highest figure since World War II.