CNBC's John Harwood reports House and Senate budget negotiations near a $90 billion deal. The proposed bill would reduce shutdown risk, but offers little long-term deficit reduction.» Read More
Any country that has spare cash to throw at buying millions of pumpkins that will never get eaten and hundreds of millions on tickets for a group more middle of the road than cats-eyes, clearly has more money than sense.
How does the spending review of the UK’s coalition government look now, more than a week after its launch? The FT's Martin Wolf reports.
If there is a single message unifying Republican candidates this year, it is a call to grab hold of the federal checkbook, slam it closed and begin to slash spending. But while polls show that the Republicans’ message is succeeding politically, Republican candidates and party leaders are offering few specifics about how they would tackle the nation’s $13.7 trillion debt. The NYT reports.
The public panned it. Republicans obstructed it. Many Democrats fled from it. Even so, the session of Congress now drawing to a close was the most productive in nearly half a century.
The retail industry's trade group said a study it commissioned estimates a European-style VAT would result in the loss of 850,000 jobs in its first year, reduce the gross domestic product for three years, and cut retail spending by $2.5 billion over its first decade.
Throwing money at a country in debt will not solve its problems if consumers refuse to spend, said Stephen Roach, non-executive chairman at Morgan Stanley Asia, on why a second round of quantitative easing (QE) from the U.S. Federal Reserve will not work.
For the first time in living memory, government spending has become a major issue. In the past, Republicans would run against taxes and Democrats against spending cuts, with neither party really running hard against spending. This had the predictable result of lowering taxes, raising spending, and inflating the public debt.
For graduating MBA students five years ago, the path may have been predictable: accept diploma, sign onto a six-figure income with a major investment banking firm, and begin 18-hour workdays.
Earlier this week I was driving my kids to school when I saw a vandalized street sign that was so striking that I had to pull over and take a picture of it.
Crippling debts and deficits are about to make individual states the next casualty of the credit crisis, analyst Meredith Whitney told CNBC.
The co-chairs of President Obama's special commission on cutting the deficit say Social Security is high on the list, so why isn't it front and center in Congressional races?
For all of the political noise about tax policy, cuts, it is hard to make a convincing case that either cuts or hikes make much of a difference in economic growth or job creation. "I really don't think you can," says one economist.
The global economy will suffer a "couple of financial crises over the next 10 years" as financial reforms are not going in the right direction and not enough is being done, warned Nouriel Roubini, chairman at Roubini Global Economics.
Velma Hart, who now-famously told President Obama at Monday's Town Hall that she was “deeply disappointed” with his attempts to revive the US economy, said on CNBC Tuesday that Obama is the “right man for the job.”
Green energy, getting banks to start lending again and being an advocate for technology jobs—three issues that would have come up during President Obama's CNBC-sponsored town meeting but didn't.
President Obama told a town-hall meeting that stimulus measures his administration has taken have "worked" but said they're considering additional incentives to spur hiring.
President Barack Obama strongly denied vilifying businesses at CNBC's Town Hall event on Monday.
President Obama repeated his position that tax cuts should be extended for the middle class--"the people whose wages didn't rise"—but not the top earners because doing so would cost $700 billion.
An exclusive CNBC poll conducted by Public Opinion Strategies/Hart Research shows two-thirds of those surveyed believe the country is on the wrong track, 49 percent disapprove of the job President Obama is doing, and the number one issue facing the US is the economy and jobs.
Washington has a spending problem, not a revenue problem, and most Americans realize the difference, GOP Sen. Bob Corker of Tennessee told CNBC.