Though the handouts to the larger banks have exceeded a trillion dollars over the five years of the QE programs most, if not all, of these institutions remain underwater if their assets were to be marked to the market.
We know the shutdown is not about fiscal responsibility. If it was, Republicans would not have run up the deficit under W by trillions of dollars with two unpaid wars, unpaid Medicare prescription plan, and the Bush tax cuts.
Let's not forget that even if the debt ceiling debate does eventually end positively, the 2011 fiasco resulted in a downgrade of the U.S. credit rating, and given how crazy Washington is right now we may be better off protecting our present than betting on our future.
ANCHORAGE, Alaska -- Furloughed federal employees in Alaska have 900 more reasons to give thanks for the Great Land. By luck of timing, the governme...
If there was some underlying "cut deficits" strategy to the Republican shutdown, then why would the House have passed a budget bill on the brink of the shutdown which increased the debt by $29 billion?
Daniel Alpert makes a compelling case that the U.S. and the world are stuck in a serious crisis of insufficient demand. Alpert is focused on the government spending route to restoring full employment, which is great, but this is not the only possible route.
Is $4 billion in taxpayer money better spent subsidizing JPMorgan's alleged criminal activity or funding the federal agency charged with defending consumers from dangerous financial products?
This conservative, austere budget has been rejected for months. Their goal is not really about defunding ObamaCare. Their goal was to force their extreme agenda onto the American people.
We have been repeatedly warned that the dollar could lose its status as the world's reserve currency in the event of default. While this is a dubious claim (will countries rush to the euro?), it would actually be good news if it were true.
It's one thing for the GOP to demand cuts in government spending as a way to enforce fiscal responsibility on Washington, but it is quite another for them to hold the federal budget hostage in order to backdoor a political agenda. That is so far from governing that it is laughable, if not downright impeachable.
We are stuck in a recurring nightmare inflicted by a few individuals with an agenda of undermining government no matter the cost. That nightmare is ignored by too many who seem oblivious to the real consequences of this stalemate for those less fortunate.
We need more outrage about these other Red Lines, the ones hurting our country. Where are the American people? Where is the outrage? We can do better. We are the United States of America -- we must do better.
Markets can process and react to good news or bad news, but they hate uncertainty. We view the continued uncertainty over tapering as a potential negative.
While real economic progress has been made since Obama was first elected President, Republicans haven't contributed to it. They haven't been part of the solution but, rather, they've fought Obama at each step and, as a result, become part of the problem.
The Congressional Budget Office's new long-term budget projections show that putting the budget on a sustainable long-term course remains challenging but is significantly more manageable than in previous projections.
How this economic recovery is going depends very much on who you talk to. New figures out today show that our nation's poorest children -- the most vulnerable among us -- remain caught in a bust.