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Congress

Larry Summers how to get out of this economy

Here is Larry Summers talking about how we can get out of this economy. The Keynesian approach is to spend more have more confidence and start more lending. Austerity and cutting back has the opposite effect. Without confidence consumers wont spend and since consumer spending is 70 percent of GDP it makes sense to empower […]

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S&P downgrades with a knock out punch to the US

S&P downgraded US Treasury debt from AAA to AA delivering a knockout punch to the groin. Weeks of political wrangling and bickering among members of Congress over Debt deal has taken its toll. The markets are taking it much better than expected as this is the first time in history US debt has been downgraded, […]

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US debt crisis threatens global markets as Congress is locked in blame game – The Guardian

CTV.ca US debt crisis threatens global markets as Congress is locked in blame gameThe GuardianThe US debt crisis has deepened after a collapse of negotiations between Congress leader John Boehner (left) and Barack Obama. Photo: Reuters/Jason Reed Democrats and Republicans are locked into a dangerous game of seeing who will crack first over the …Markets […]

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After legal loss, NE fishermen turn to Congress – Wall Street Journal

After legal loss, NE fishermen turn to CongressWall Street JournalAP BOSTON — New England fishermen who lost a court battle over a challenge to a law governing fish catches say they want Congress to change the law. Fishermen argued that federal regulators had so badly misinterpreted the congressional intent for the …After legal loss, New […]

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Congress ditches Obama on debt talks – Politico

Globe and Mail Congress ditches Obama on debt talksPoliticoFirst came the Biden talks. When those blew up, the Obama-Boehner talks took center stage. And when that failed, the McConnell-Reid talks looked promising. And after they faltered, the Obama-Boehner talks tried to find a new life. …Boehner avoids conflict with GOP conservativesColumbus DispatchRepublicans Back Short-Term Debt-Limit […]

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Stalemate in Congress could be boon for travelers – The Associated Press

USA Today Stalemate in Congress could be boon for travelersThe Associated PressDALLAS (AP) — Gridlock in Congress could be a boon for airline consumers this weekend. Several federal air travel taxes were set to expire Friday night if Congress failed to pass legislation to keep the Federal Aviation Administration operating. …FAA furloughs thousands amid congressional […]

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Leaders in Congress scramble toward deal – Boston Globe

Globe and Mail Leaders in Congress scramble toward dealBoston GlobeWASHINGTON – Congressional leaders scrambled yesterday to find a way out of the impasse over the nation's debt and to forge a compromise agreement by tonight, as economists warned of looming disaster and an increasingly …Republicans Back Short-Term Debt-Limit Agreement, Risking VetoBloombergObama and Boehner End Private […]

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Congress hopes to present debt package by Monday – Los Angeles Times

CTV.ca Congress hopes to present debt package by MondayLos Angeles TimesTalks resume at the White House, where Obama and congressional leaders work on a Republican-backed plan to cut spending by $3 trillion in exchange for a vote on raising the debt ceiling. President Obama sits with House Speaker John Boehner, left, …Three GOP leaders with […]

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Congress Offers Tax Free Flights… For Now – Forbes (blog)

MiamiHerald.com Congress Offers Tax Free Flights… For NowForbes (blog)It turns out that one of the tax measures that has not been resolved involves federal taxes on airline tickets. Since Congress has not confirmed the Federal Aviation Administration (FAA) budget – putting 4000 FAA employees on …FAA furloughs thousands amid congressional funding stalemateReutersFAA taxes expire, air […]

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Congress Leaders Rush to Forge Debt Plan Before Markets Open – San Francisco Chronicle

Globe and Mail Congress Leaders Rush to Forge Debt Plan Before Markets OpenSan Francisco ChronicleJuly 23 (Bloomberg) — With few signs of progress, congressional leaders pressed to devise a plan to avert a US default before financial markets open as President Barack Obama remained opposed to any short-term debt-limit increase. …Obama holds crisis US debt […]

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