Economy Topics

Democracy Now! stories, posts and pages that relate to Economy

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    As participants in the Occupy Wall Street movement continue protesting the record profits made by banks bailed out by taxpayer money, a group of grassroots activists are hitting America’s largest banks—including JPMorgan Chase, Bank of America and Wells Fargo—where it hurts most: the wallet. Dubbing this Saturday, Nov. 5 as "Bank Transfer Day," activists are urging people to move their money out of the banks deemed "too...
    Nov 01, 2011 | Story
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    MIT Professor Emeritus Noam Chomsky discusses the position of the Republican presidential candidates on issues such as climate change and calls them "utterly outlandish." "I’m not a great enthusiast for Obama, as you know, from way back, but at least he’s somewhere in the real world," Chomsky says. "Perry, who’s very likely … to win the primary and win the nomination, and maybe to win the election,...
    Sep 19, 2011 | Story
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    Since announcing his candidacy for the Republican presidential nomination over the weekend, Texas Gov. Rick Perry has already raised eyebrows over a number of heated comments. On Monday Perry accused Federal Reserve Chairman Ben Bernanke of treason and suggested he would face physical harm in Texas. His comments were widely criticized, from the White House to Republican key strategist Karl Rove. Perry has also drawn criticism for calling Social...
    Aug 17, 2011 | Story
  • Play_debt
    The bipartisan "super committee" tasked with finding a way out of the U.S. debt crisis has been established, but what can we expect? On Thursday, House Democratic leader Nancy Pelosi named the final three members to the 12-person panel, split evenly between Democrats and Republicans. They will have until November 3 to recommend a plan to cut $1.5 trillion from the deficit over 10 years. We speak with Robert Borosage, founder and president...
    Aug 12, 2011 | Story
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    The debt ceiling agreement reached this week by the White House and Congress could deal a serious blow to women’s well-being, according to leading women’s rights groups. The deal will potentially impose $1 trillion in cuts to programs that mostly serve and employ women, such as family planning clinics, food stamps, college tuition assistance and childcare. The National Organization for Women (NOW), the largest feminist organization...
    Aug 04, 2011 | Story
  • Play_rep_edwards
    President Obama has signed legislation to increase the U.S. debt ceiling in time to avoid a national default. The $2.1 trillion deficit-reduction plan cleared its final hurdle in the Senate yesterday, passing with a 74-to-26 vote. Six Democrats and 19 Republicans opposed the measure. Members of the Progressive Caucus and the Congressional Black Caucus rejected the deal because of its massive cuts to domestic spending and a lack of tax increases...
    Aug 03, 2011 | Story
  • Play_jobs-economy
    President Barack Obama welcomed the deficit deal as "an important first step" and urged both parties to work together on a larger plan to cut the deficit. The deal includes no new tax revenue from wealthy Americans and no additional stimulus for the lagging economy. It has a provision to create a joint committee of 12 legislators charged with finding $1.5 trillion in deficit cuts. The committee must hold its first meeting in 45 days...
    Aug 03, 2011 | Story
  • President Barack Obama touted his debt ceiling deal Tuesday, saying, “We can’t balance the budget on the backs of the very people who have borne the biggest brunt of this recession.” Yet that is what he and his coterie of Wall Street advisers have done.
    Aug 02, 2011 | Columns & Articles
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    After months of a bitterly partisan stalemate, the U.S. House of Representatives has voted 269 to 161 in favor of raising the federal borrowing limit and avoiding a default on the national debt. The final count showed 174 Republican ayes, with Democrats split evenly—95 on each side. The vote came just hours before a Department of Treasury deadline that potentially would have seen the United States run out of cash and default for the first time...
    Aug 02, 2011 | Story
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    President Obama and Republican House Speaker John Boehner are allegedly close to a $3 trillion deficit-reduction package as part of a deal to raise the federal debt ceiling before an Aug. 2 deadline. But the deal is coming under fire from both congressional Democrats and Republicans. Part of it calls for lowering personal and corporate income tax rates, while eliminating or reducing an array of popular tax breaks, such as the deduction for home...
    Jul 22, 2011 | Story