A new report shows that the income gap between rich and poor in America is at an eight-decade high — the largest differential since the period immediately preceding the Great Depression. And economists fear that the education and job-creation programs that could bridge this gap are lacking in the More…
As expected, President Obama reappointed Federal Reserve Chairman Ben Bernanke to another term today today, noting in remarks delivered in Martha’s Vineyard that Bernanke led the nation, and the world, through one of the worst fiscal crises it has ever faced, Bloomberg reports.
“As an expert on the causes
What is it with Paul Krugman, anyway? The Nobel economist with the dour outlook is becoming the most unlikely of pop icons. First, there was, “Hey Paul Krugman,” a ditty praising his virtues, especially compared with those of Treasury Secretary Timothy Geithner, that flew around the blogosophere. Now, via More…
One potentially upbeat aspect of a recession is that it keeps families together, writes marriage expert Andrew Cherlin today in The New York Times. Couples are reluctant to split up when finances are tight, so households that might otherwise break up remain intact. That was one lesson of More…
Obama administration officials have been pushing cautious optimism lately, while touting any glimmers of hope for the economy. But some new numbers out today unfortunately do little to justify any optimism. The economy shrank much more rapidly than expected during the first quarter — by 6.1 percent — turning More…
Do you love Politico? Sure, we all do. And one of the best ways to read the paper is to read TWI a few weeks earlier. For example, if you were reading TWI 10 weeks ago, you learned that Republicans on the Hill were treating “The Forgotten Man,” the More…
The godfather of paleo-conservatism, a man who ran against President George W. Bush in 2000 and endorsed him in 2004, unleashes the fury against the ex-president’s economic record.
The only relevant comparison is to Herbert Hoover… Beginning and ending in recession, the Bush presidency added a net of 407,000
The classic 1985 film Brewster’s Millions is strangely analogous to the tale playing out in Washington these days as lawmakers — and President-elect Barack Obama — draft plans for an enormous spending bill to buoy the sinking economy.
You remember the story: Monty Brewster (Richard Pryor) is forced to More…
President-elect Obama’s big economic speech today details all the problems the economy faces, and he predicts dire consequences if the government doesn’t act now – and in a big way. If nothing is done, Obama warns, the recession could linger for years. It’s all part of his effort to More…
President-elect Barack Obama is confronting a cascading economic crisis, which seems to worsen by the day, not the week. As venerable banking houses collapse, once-mighty industries teeter on the brink of oblivion and unemployment mounts, the air thickens with recollections of the Great Depression of the 1930s, and comparisons between More…
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