u.s. economy

The Economic Forecast After the Coronavirus Pandemic

Richard Smith

Even with widespread testing, until a vaccine is available, there are entire industries that will have less than half the pre-virus business: airlines, hotels, cruise ships, theme parks, and sports, to name a few, as well as myriad other businesses supporting or related to these industries. In addition, more than a few large retail department and specialty store chains will probably not make it. No need to list names, but they are the obvious weak ones prior to COVID-19.

Goodbye Fiscal Cliff, Hello Debt Ceiling Crisis

Paul Kleyman

Ah, Washington. The good news is that our national leaders saved our butts (for the moment) from bottoming out off the “fiscal cliff.” The bad news is: Watch your head—it’ll soon come crunching up against another unnecessary “debt ceiling” crisis. The most important Good vs. Bad News about the New Year’s Day cliff dive is that the Ugly—the prospect that Congress’ failure to raise the debt ceiling could actually cause the United States to default on its international debts with genuine economic consequences—is now put off, but only until March.

Will the U.S. Economy Go Over the Fiscal Cliff?

Paul Kleyman

Will the U.S. economy go over the “fiscal cliff” after New Years Day? If so, what will that mean to the country’s most financially vulnerable people? Former White House economic advisor Jared Bernstein of the Center on Budget and Policy Priorities (CBPP) told reporters on a national telephone briefing Thursday, organized by New America Media and CBPP, that he believes Democrats and Republicans will take the budget negotiations to and possibly over the cliff’s edge. 

President Obama Wins a Second Term

Lawrence D. Bobo

It is inflection point in the arc of history because an African-American president was re-elected even though unemployment was at nearly 8 percent, and Republicans threw absolutely everything at him it was possible to throw, from "You lie!" to their vow to make him "a one-term president," to driving the nation to the brink of financial insolvency rather than negotiating in good faith over the national debt. 

The Potential for Republican Buyer’s Remorse if Romney is Elected

Michael Cancella

In the highly charged, relentlessly partisan political climate of today, one only worsened by the ongoing presidential campaign, it is sometimes easy to forget that Romney isn’t exactly the Republican base’s favorite son.  Indeed, in their fervent desire to defeat President Obama, the dislike and distinct distrust that many on the far right have for Governor Romney has been effectively swept under the proverbial rug. If, however, Romney is successful in his quest for the presidency, this unity on the right will likely prove transient.

Obama’s Middle East Dilemma

George Abraham

The killing of U.S. Ambassador Christopher Stevens in Benghazi, Libya, on the anniversary of September 11 should provoke a similar examination of the Obama presidency. Here was a quintessential ambassador – an Arabic speaker, popular among ordinary Libyans, who had worked with the revolutionaries to overthrow Muammar Gaddafi – killed in the line of duty.  It was a colossal failure, marking a nadir in a presidency that boasted a break with Bush-era unilateralism and a promise to “commit ourselves to an effort – a sustained effort – to find common ground” with the Muslim world. 

Former Green Jobs Czar Compares Obama, Romney on Environmental Issues

Ngoc Nguyen

Obama has tried to be consistent with his all-of-the-above approach [to energy]…[which] puts a big emphasis on renewables, and Romney has been all over the place on this issue... At least you know what you are getting with Obama. You have no idea what you are getting with Romney. (But) the environmental movement is going to have to push Obama the day after the election.

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