President Obama's fiscal 2015 budget request would boost US tax revenues by nearly $1.4 trillion over 10 years if fully enacted, the CBO said.» Read More
As the countdown to the Obama administration falls into single digit days, the rhetoric over how to reverse the housing crisis is heating up, and much of the chatter is focusing on bankruptcy and “walkaways”. All of this leads me to ask the question, which is worse to your financial future: personal bankruptcy or foreclosure?
As President Bush gets set to leave office, President-elect Obama has one more important task for him to complete. Obama and his Midwest Combine are requesting that the outgoing Republican leader send a message to Congress for the remaining $350 billion in TARP funds.
It's unlikely that today's jobs report will result in a big increase in the stimulus package, but there is still a lot of detail that will materialize in the next two weeks.
524,000 jobs lost in December is pretty terrible, in line with estimates, but it is well below the whisper numbers of 600-700,000 that many were expecting. Despite the poor numbers, it is doubtful this will dramatically increase the size of the stimulus package.
Obama has offered an $800 billion package, with plenty of infrastructure spending that alleges to create three million jobs. Nobody really believes infrastructure spending will end the recession or create permanent new jobs. However, it’s interesting just how much the Obama plan has changed since the election.
Lowering housing inventory is key to solving the ailing real estate market and broader economy, said David Rosenberg, Merrill Lynch chief North American economist.
What is it with families? I was pretty thrilled with Obama's speech today about the need for swift, bloated stimulus, with one glaring exception. He said, "to get people spending again, 95 percent of working families will receive a $1,000 tax cut." Nothing wrong with that policy-wise, it's the verbiage that bothers me.
Despite tremendous fear that the nonfarm payroll report would be a complete disaster tomorrow, traders acted like there was little urgency. Volume was light, volatility was low and with the exception of one sector (retail) all S&P sectors were up or down less than one percent.
A while back I debated the pros and cons of a proposal to allow bankruptcy judges to modify troubled loans. The President-elect included it as one of the four tenets of his housing plan during the campaign, so one can only surmise that it’s still high on his list.
Though most economists agree that bigger is better at this point, they also say size and complexity of the stimulus package could slow its passage at a time when the economy needs a quick-fix.
President-elect Obama's speech on the economy this morning is designed to hammer one point home: if the government does not act aggressively, the recession could linger for years.
A government stimulus must ensure that financial institutions are recapitalized and remain “healthy,” said Frederic Mishkin, former Federal Reserve Board governor and Columbia University economics professor.
We need massive government invention to get out of the economic mess we're in. We don't want the next ten years to be called America's lost decade. That's why the American people, in their infinite wisdom, sent a huge Democratic majority to Congress and gave Obama the White House.
The US economy is likely to be in worse shape a year from now and will require aggressive government spending and intervention to stem the damage, economist Martin Feldstein told CNBC.
If you haven’t been able to tell by now, I like to write. Look no further than my three books for proof. I seek to raise awareness of important issues, always trying to strike themes that investors can act on. I do this from a macro perspective, from the top-down — the subject of my latest book, Investing from the Top Down. Here are my top 10 'Top-Down' investing themes for 2009.
Congressional Republicans said they would work with Democrats to craft a plan to stimulate the economy, but only if GOP ideas are considered for a bill that could cost as much as $1 trillion.
The big questions for the coming year are how long and deep will the recession be and how it will compare to those of the past.
Monday's market is still feeling last week's pain, as lowered earnings outlooks add to the downward pressure from big bank downgrades. And forensic analysts continue to sift through the alleged Bernie Madoff fraud, asking: Can investors get anything back? But CNBC heard from experts who are anticipating an annual Santa Claus rally — and think it's crucial to buy oil stocks and other selected equities now.
On Friday, the auto bailout was announced: General Motors and Chrysler will get up to $17.4 billion in short-term loans from the U.S. in return for deep concessions. Treasury boss Hank Paulson reversed himself, asking for the second half of the TARP fund. Who gets bailed out next — and where does it end? Strategists told CNBC the bailout is going to make things worse; but one airline CEO sees a healthy Darwinian process.
The US government could be entering a bottomless pit of bailouts if it starts propping up failing companies outside the financial sector—including the struggling auto industry, economists say.