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By Donald Lambro
Growth spikes are little more than trend-free anomalies
Independent voices from the The Washington Times Communities
Topic - Council Of Economic Advisers
As President Obama played golf Friday and headed for a long weekend at Camp David, the White House said the government's new jobs report proves that the 2009 stimulus program is still helping the economy.
Once again, the White House is trotting out the "Great Gatsby Curve." That's surprising given the extensive criticism it drew from scholars on both the left and the right when it was unveiled last year by Alan Krueger, the outgoing chairman of the President's Council of Economic Advisers.
President Obama's latest budget is built on the assumption that the economy will rebound strongly, but his advisers said if they can't halt the sequester their numbers won't add up this year.
President Obama canceled public tours of the White House in response to sequestration cuts ("White House visitors, get lost," Comment & Analysis, March 8). Before doing so, did the president consult with Alan Krueger, chairman of his Council of Economic Advisers?
U.S. economic growth unexpectedly ground to a halt at the end of last year, falling from a healthy 3.1 percent gain in the summer to a 0.1 percent contraction in the final quarter, the Commerce Department reported Wednesday.
The White House on Wednesday blamed a surprising economic decline in the fourth quarter of 2012 on the uncertainty of the 'fiscal cliff' feud with Congress and the effects of Superstorm Sandy.
In times past, political leaders would lay out their domestic and foreign policies in clear, coherent terms. President Obama talks about getting our fiscal house in order but fails to propose any meaningful spending cuts.
Seizing on one of the biggest shopping days of the year, the White House tried to exert pressure on Republican lawmakers Monday by warning that consumer spending could drop by nearly $200 billion in 2013 if Congress fails to approve an extension of tax cuts for the middle class by the end of next month.
Think we could use 5 million new jobs right about now? That's what President Obama promised he'd create by "investing" taxpayer money in "green" jobs. And not just any jobs, he said on the campaign trail in 2008, but ones that "pay well and can never be outsourced."
Congress returned in full force this week from its August recess, and President Obama finally will put forward much-hyped jobs and deficit-reduction proposals. After more than two years of sustained high unemployment and a perpetually sluggish market, it's about time.
Persistent high unemployment is the most pressing economic problem. The official jobless number has been stuck above the 9 percent level for most of this year. The news that President Obama has picked Alan Krueger, a labor economist, to head the three-man Council of Economic Advisers ought to be good news. It should be a sign that the president is finally taking the jobs situation seriously - if only Mr. Kreuger's academic research and his policy work didn't suggest otherwise.
It's hard to find an economist who questions the relationship between the minimum wage and employment, specifically, that a higher minimum wage reduces employment opportunities for young, low-skilled and inexperienced workers.
A week away from delivering a major speech on jobs and renewing a battle with congressional Republicans on the economy, President Obama on Monday named labor economist Alan B. Krueger of Princeton University to lead his depleted economic team.
President Obama rammed his so-called stimulus bill through a Democratic Congress less than a month after taking office in 2009. According to the Congressional Budget Office, the American Recovery and Reinvestment Act (ARRA) will cost Americans $840 billion. Unfortunately, this massive sum has failed to buy Americans any respite from economic woe. It has done little more than bury Americans under yet more debt and lengthen lines at the unemployment office. The nation's jobless rate climbed to 9.2 percent last month, according to figures released Friday. We're headed in the wrong direction.
President Obama's very own Council of Economic Advisers has released a scathing report on the impact of his near-trillion-dollar economic stimulus package. Its analysis: Each job created or saved cost the American taxpayer a whopping $287,000.