Donna's Feed
Oct 8, 2010
via Tales from the Trail

Loss of U.S. jobs to China becomes powerful election issue

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In Pennsylvania, the Democratic candidate for the U.S. Senate, Joe Sestak, accuses his Republican foe Pat Toomey of favoring China over hard-working Americans.

In a new website, the AFL-CIO pointedly tracks the loss of U.S. jobs to China and other cheap-labor countries.

Oct 5, 2010

Treasury says TARP exceeded expectations

WASHINGTON (Reuters) – Despite its enormous unpopularity among voters, the government’s Wall Street bailout plan succeeded much more quickly and at a lower cost than expected, a Treasury report released on Tuesday said.

“The Troubled Asset Relief Program has succeeded faster, and at a much lower cost, than expected,” the report said.

Sep 29, 2010
via Tales from the Trail

Simpson gets delivery from NOW

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High drama at President Barack Obama’s deficit commission meeting.

Members of the bipartisan panel were about to settle in at the Senate Budget Committee hearing room to discuss the weighty issues of performance objectives and the merit of one-year vs. two-year budgeting, when the unscheduled happened.

National Organization of Women President Terry O’Neill swooped in with a delivery and proceeded to lecture commission Republican co-chairman Alan Simpson.

Sep 29, 2010

Deficit-cut panel convenes amid skepticism

WASHINGTON (Reuters) – With just two months left before it has to issue a final report, a U.S. commission looking at ways to cut the federal deficit was to meet again on Wednesday amid questions about its hard-headedness.

Getting the government’s budget out of the red and back into the black — after years of costly wars, tax cuts and recession — will require spending reductions and tax increases, according to most analysts looking at the issue.

Sep 29, 2010

U.S. deficit-cut panel convenes amid skepticism

WASHINGTON, Sept 29 (Reuters) – With just two months left
before it has to issue a final report, a U.S. commission
looking at ways to cut the federal deficit was to meet again on
Wednesday amid questions about its hard-headedness.

Getting the government’s budget out of the red and back
into the black — after years of costly wars, tax cuts and
recession — will require spending reductions and tax
increases, according to most analysts looking at the issue.

Sep 28, 2010

CBO chief warns U.S. lawmakers on taxes, spending

WASHINGTON, Sept 28 (Reuters) – Stimulating the U.S.
economy by increasing spending or renewing expiring income tax
cuts would provide a short-term economic boost, but end up
being a drain on long-term growth, the chief congressional
budget analyst warned on Tuesday.

Congressional Budget Office Director Douglas Elmendorf said
increasing government borrowing to boost spending or to extend
the tax cuts enacted under former President George W. Bush,
which are set to expire at the end of the year, would provide a
short-term boost but result in lower levels of growth and
national income by 2020.

Sep 24, 2010
via Tales from the Trail

Seriously folks – comedian testifies before U.S. Congress

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It was all quite funny, but the subject is very serious especially in a sluggish U.S. economy with an unemployment rate stuck at 9.6 percent.

The House Judiciary Committee held a hearing Friday on whether illegal migrant workers take jobs away from Americans. Comedy Central’s Stephen Colbert testified in character as a conservative talk show host.

Sep 24, 2010

Pelosi hedges on timing of Bush-era tax vote

WASHINGTON, Sept 24 (Reuters) – U.S. House of
Representatives Speaker Nancy Pelosi said on Friday the House
would vote this year on extending middle-class tax breaks, but
she would not commit to vote before the Nov. 2 congressional
elections.

“The American middle class will have a tax cut,” Pelosi
said at her weekly news conference. “It will be done in this
Congress.”

Sep 23, 2010

Q+A: Can the healthcare overhaul be repealed?

WASHINGTON (Reuters) – Republicans have vowed to repeal and replace President Barack Obama’s healthcare overhaul, or at least eliminate as many of its provisions as possible.

Republicans included a pledge to roll back the healthcare bill in their “Pledge to America,” a pre-election plan to slash spending and stop “job-killing tax hikes.”

Sep 23, 2010

Congress sends small business bill to Obama

WASHINGTON (Reuters) – A $30 billion small business lending bill cleared Congress on Thursday, giving President Barack Obama’s embattled Democrats a hard-won victory just weeks before the November elections.

The House of Representative gave the bill final congressional approval on a mostly party-line vote of 237 to 187. It now goes to Obama who will sign it on Monday.

    • About Donna

      "Washington congressional correspondent specializing in economics, taxes and budget issues. Covered the healthcare reform legislation and President George W. Bush's push to overhaul Social Security. Also covered the savings and loan crisis and spent time covering the White House during President Bill Clinton's administration. Covered trade and Federal Reserve policy as well."
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