- Pregnancies decline overall, up among older women
- Pentagon plans to destroy Syrian chemical arms on ship at sea
- Paris Metro issues ‘politeness manual’ to improve passengers’ behavior
- Justin Bieber, crew detained at Australian airport in drug search
- Lee Rigby trial: Muslim who machete-hacked soldier calls it ‘humane’ kill
- GM ending Chevy sales in Europe to focus on Opel and Vauxhall
- Putin’s diplomats to U.S. busted for living high life off $1.5M bilked from Medicaid
- Happy Meal: Couple goes to McDonald’s, leaves with bag packed with cash
- Boehner: It took me 3 to 4 hours to sign up for Obamacare
- Oh my God! Costco lists Bible as fiction, Ron Burgundy memoir as gospel
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.