- Anthony Weiner on radio? Cumulus says, ‘Never, ever’
- Executive order: Obama ups green-energy mandate on feds to 20 percent
- GOP launches candidate training: How to talk to women
- N.Y.’s Rockefeller Center lights up, as Bloomberg flicks on 76-foot Christmas tree
- Northern Ireland turns to ‘Game of Thrones’ to draw in tourists
- Washington woman live-tweets husband’s horrific car death
- China City of America mulled for New York — with $65M tax dollars
- Yemen defense ministry rocked by suicide bomber, gunfire
- Hack attack: 2 million Facebook, Twitter passwords stolen
- Mystery deepens over radioactive cobalt-60 stolen in Mexico
Latest Carmen Reinhart Items
The sluggish recovery, as GOP candidate Mitt Romney repeatedly notes, pales in comparison to previous comebacks in the U.S. economy since World War II, but studies show that recessions resulting from major financial collapses such as the one in October 2008 usually have slow and difficult recoveries.
Fiscal conservatives unwittingly sabotage themselves by invoking "the children" when explaining the dangers of America's ballooning national debt. They should spend lots more time discussing how federal red ink harms adults today.
The threat of the first downgrade of U.S. government debt - for decades considered the safest investment in the world - came as a jolt to some in Washington last week, but financial markets foreshadowed the move for months.
President Obama's budget, released Monday, was conceived as a blueprint for future spending, but it also paints the bleakest picture yet of the current fiscal year, which is on track for a record federal deficit and will see the government's overall debt surpass the size of the total U.S. economy.