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Financial Meltdown Topics

Democracy Now! stories, posts and pages that relate to Financial Meltdown

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  • Us_debt
    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...
    Jul 22, 2011 | Story
  • Jaisulthumb2
    As Congress considers spending cuts to reduce the deficit, critics warn that reduced education, healthcare and other social services will disproportionally impact low-income communities of color. This is the case in New York City, where a high school that provides drug treatment to former gang members is being closed as part of an effort to trim the state budget. [includes rush transcript]
    Jul 22, 2011 | Web Exclusive
  • Military contract whistleblower Bunny Greenhouse’s legal win is welcome, but U.S. taxpayers are out $5 trillion for the wars of Bush and Obama. Why isn’t war a central issue in the U.S. debt talks?
    Jul 27, 2011 | Columns & Articles
  • Debt_button
    Republicans have agreed to a vote today on a budget plan they say will cut the deficit $917 billion over 10 years. The move sets the stage for a showdown against unified Democratic opposition in the Senate and threats of a White House veto. To discuss the debt talks and economic austerity worldwide, we’re joined by Richard Wolff, Emeritus Professor of Economics at University of Massachusetts Amherst and author of several books, including...
    Jul 28, 2011 | Story
  • Us_debt_vote_button
    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
  • 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
  • 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...
    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
  • London_riots_button
    Unrest continues to spread across England after protests erupted Saturday in London when police shot to death Mark Duggan, a 29-year-old black man. Mobs firebombed police stations and set shops on fire in London, Manchester, Salford, Liverpool, Nottingham and Birmingham. After waiting for several days, Prime Minister David Cameron has cut short his vacation and recalled Parliament from summer recess. Scotland Yard has ordered its officers to...
    Aug 10, 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...
    Aug 12, 2011 | Story