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Click here to visit the new home of Politics Daily!SPRINGDALE, Ark. – It's the economy, stupid. Still. That's according to Bill Clinton, who returned to his old stomping grounds Wednesday to address the topic about which he has been called an expert. Springdale is an appropriate place to talk economics. The region is the home of two of the world's largest companies – Tyson Foods, Inc. and Walmart. Both companies sponsored the fundraising luncheon for the private non-profit, non-partisan Economics Arkansas, which promotes training for K-12 teachers to integrate economic and personal finance concepts into the classroom. Twenty-one ...
(July 16) -- President Barack Obama invited Bill Clinton and Warren Buffett to the White House this week for some advice on how to kick-start the economy's jobs machine -- something that the $787 billion stimulus package passed last year was supposed to achieve. But Obama doesn't need to go around seeking advice from ex-presidents or wise investors. The answers are pretty straightforward. In his recent Newsweek column, Fareed Zakaria talks about how "economic uncertainty" is "the primary cause of their caution." Mentioned only in passing, though, is how administration policies are ...
While the stock market has been generally higher, consumers are spending again, and business activity has picked up, 49 percent of Americans still consider economic conditions to be poor and another 39 percent rate them as "only fair," numbers that are little changed since last June, according to a Pew Research Center poll conducted April 21-26. Sixty-two percent say the economic stimulus program approved by Congress last year has not helped the job situation. Seventy-nine percent of Republicans and 69 percent of independents share that view, while Democrats do believe it has helped by a ...
(Jan. 29) -- The Commerce Department reported today that the U.S. economy grew at its fastest pace in six years at the end of 2009. Although consumer spending rose at a better-than-expected annualized rate of 2 percent, it was the replenishment of company stockpiles that proved the main factor, which can often point to just a temporary economic bump. Figures for the fourth quarter showed an expansion in gross domestic product of 5.7 percent, following a 2.2 percent rise in the third. Together, they followed a record four quarters of decline. Richard Drew, AP Friday's report about economic ...
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(Jan. 25) – In his new book, "Freefall: America, Free Markets and the Sinking of the World Economy," Nobel Prize-winning economist Joseph E. Stiglitz takes to task the banks, their regulators, and the Bush and Obama administrations for failing to see the financial crisis coming, and then doing too little to avert it. Several steps could be taken to help our ailing financial system – and the people it affects – if the powers decide to do so. In an excerpt from his book, Professor Stiglitz explains what those should be and how they would help. Dan Deitch Economist and author ...
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(Dec. 8) -- Attention spans are notoriously short in Washington, but this is a bit ridiculous. "President Barack Obama will Tuesday lay out three new approaches to battling the U.S. jobs crisis," said one news account posted before Obama's speech later in the day. The "new" approaches he put forward: more money for roads and bridges, tax credits for energy-efficiency improvements in homes and more help for small businesses. Wait a moment. Didn't the stimulus bill passed just 10 months ago dedicate billions upon billions of dollars to those very areas? Turns out, it did. According to a ...
(Dec. 2) - President Obama has said he wants fresh ideas for his jobs summit Thursday. Here's one he's not likely to hear: Don't do anything. Economic indicators suggest the jobless rate will fall on its own, and "doing something" could easily hurt more than it helps. Don't think so? Take a look at history. In 1921, amid double-digit unemployment rates, Secretary of Commerce Herbert Hoover called an Unemployment Conference, inviting the nation's leaders to talk about how to lower the jobless rate. President Warren Harding ignored the advice that came out of this conference and did nothing. ...
(Dec. 2) - If any consensus emerges from Thursday's White House summit on jobs, it should be this: Let's deal with unemployment first and the deficit second. I know what you're thinking: We bailed out the banks, the automakers and American International Group. We passed a $787 billion recovery act earlier this year. The budget deficit for 2009 exceeds $1 trillion. How can deficit reduction not be Job No. 1? There are two reasons. First, this jobs crisis -- the worst one since the Great Depression -- is an unmitigated disaster for the nearly 16 million Americans who are out of work and their ...
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