Topic: Economic Policy

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Briefing
What would happen if Greece exited the eurozone?

Rumors are rife of a Greek exit from the eurozone. While no country has yet dropped the common currency, there are some indications of what will transpire if Greece does.
Facebook IPO: Six key dates in its debacle

Facebook's first week as a publicly traded company will go down as a terribly botched corporate launch, perhaps one of the worst in recent history for such a highly visible entity. Eight days ago, it was the tech world's most highly anticipated initial public offering in eight years. Now, the social media company faces mounting legal woes and serves as an embarrassing example of how not to run an IPO. Despite rising insider pessimism about its growth prospects, Facebook kept boosting its asking price and the number of shares it would sell. The result: billions of dollars in losses; investigations by two congressional committees, the Securities and Exchange Commission (SEC), an industry watchdog, and the state of Massachusetts; at least 13 class-action lawsuits; and thousands of resentful shareholders who days later still were unsure how many Facebook shares they had or at what price. Here are six key dates in Facebook's unfolding IPO disaster.
From Willie Horton to windsurfing: Five top political attack ads

Political attacks ads: love 'em or hate 'em, but they’re here to stay, and this election year stands to be a watershed moment in their use. Here's a look at what are considered to be some of the most memorable and effective attack ads utilized over the years.
Could 'fiscal cliff' push US into recession? Five questions answered.

The nonpartisan Congressional Budget Office (CBO) warned in a report Tuesday that if Congress does not deal with a raft of fiscal measures by Dec. 31, the US could enter another recession. So what is this fiscal cliff and what is Congress doing about it?
Where gas prices are highest

Gasoline is a very visible price, and closely watched by many drivers. Petroleum prices impact many products, from food to industrial production. While the cost of crude is the major factor in gasoline price volatility, some countries levy taxes on fossil fuels. Here are ten countries where high gas prices are the norm, according to British insurance firm Staveley Head.

All Content

Tax VOX
Tax reform: The cases for going long-term, versus going prudent

As a behind-the-scenes debate begins among reformers over just how to fix the US tax code, some Republicans insist that big, broad-based reform would be easier to accomplish, while others in Congress advocate for a more step-by-step process.
As Ireland votes on EU treaty, many ask if it's worth cost of membership (+video)

The strict rules of the EU fiscal treaty Ireland votes on today essentially block stimulus spending, and many Irish worry the country is stuck in an austerity-driven slump.
EU calls for "banking union" to fight debt crisis

The European Commission proposed Wednesday that such a body should oversee banks directly, sidestepping national governments.
Briefing
What would happen if Greece exited the eurozone?

Rumors are rife of a Greek exit from the eurozone. While no country has yet dropped the common currency, there are some indications of what will transpire if Greece does.
Focus
Next week's Wisconsin recall: a test drive of themes for Election 2012

Wisconsin recall election between Gov. Scott Walker (R) and Tom Barrett (D) enters its last furious week. It is a proving ground for the themes and players of the national election in November, analysts say.
Robert Reich
How to avoid austerity but still fix the deficit

As Europe has shown us, austerity is bad for weak economies facing large budget deficits. But it can be avoided by getting growth and jobs back first, and only then tackling budget deficits.
Despite oil prices, falling euro, Dow closes up slightly

Oil prices fell, the euro sank to a 22-month low, and the yield on the U.S. government's 10-year Treasury note fell near a historic low. But the Dow Jones industrial average edged up 125 points to close at 12580 as investors continue to hope for a Chinese growth spurt.
Economist Mom
A rift over the GOP's tax pledge?

Over the past generation, the GOP's pledge to introduce no new taxes has become the essential conservative credential. But some Republicans are refusing to sign.
Tax VOX
How the debt limit delay will affect US fiscal policy

What if hitting the statutory debt limit does not happen until sometime in the first quarter of 2013? That is increasingly likely, say the folks who watch this sort of thing. And it would completely change the politics of the coming train wreck.
Robert Reich
Obama and Cory Booker: Fairness is essential to growth

Fairness isn’t inconsistent with growth; it’s essential to it. The only way the economy can grow and create more jobs is if prosperity is more widely shared.
Facebook IPO: Six key dates in its debacle

Facebook's first week as a publicly traded company will go down as a terribly botched corporate launch, perhaps one of the worst in recent history for such a highly visible entity. Eight days ago, it was the tech world's most highly anticipated initial public offering in eight years. Now, the social media company faces mounting legal woes and serves as an embarrassing example of how not to run an IPO. Despite rising insider pessimism about its growth prospects, Facebook kept boosting its asking price and the number of shares it would sell. The result: billions of dollars in losses; investigations by two congressional committees, the Securities and Exchange Commission (SEC), an industry watchdog, and the state of Massachusetts; at least 13 class-action lawsuits; and thousands of resentful shareholders who days later still were unsure how many Facebook shares they had or at what price. Here are six key dates in Facebook's unfolding IPO disaster.
The Circle Bastiat
Herbert Hoover's bad rap

Though Roosevelt gets credit for saving the nation, Hoover was far from a 'do-nothing president.'
What Congress has planned after Memorial Day

Congress will be racing to complete a number of priorities between Memorial Day and the August recess, all under the shadow of massive fiscal issues looming at year's end.
Decoder Wire
Obama blames Romney for spreading 'cow pie of distortion.' Is he right? (+video)

Mitt Romney had criticized the Obama administration's accumulation of US debt. Big numbers such as America’s debt may seem solid, but they’re not.
Federal Reserve official: If Congress dawdles, economy will fall 3 percent

Congress must sort out a raft of fiscal issues before Jan. 1, or it will cost the US economy dearly, said New York Federal Reserve President William Dudley.
From Willie Horton to windsurfing: Five top political attack ads

Political attacks ads: love 'em or hate 'em, but they’re here to stay, and this election year stands to be a watershed moment in their use. Here's a look at what are considered to be some of the most memorable and effective attack ads utilized over the years.
Robert Reich
Obama should attack what Bain and JPMorgan have in common

Rather than lobbing generalized  attacks at Mitt Romney and American business, Obama should attack a particular kind of capitalism that Romney and JPMorgan both practice: using other peoples’ money to make big bets which, if they go wrong, can wreak havoc on the economy.
Tax VOX
A path forward on tax reform: 4 steps

Tax reform will be difficult, but with a four-step road map, it can be done.
Facebook lawsuits: Did all shareholders get same data in IPO?

Facebook lawsuits charge that banks in charge of IPO didn't share company information with all shareholders. In addition to Facebook lawsuits, two congressional committees are also investigating the IPO.
Could 'fiscal cliff' push US into recession? Five questions answered.

The nonpartisan Congressional Budget Office (CBO) warned in a report Tuesday that if Congress does not deal with a raft of fiscal measures by Dec. 31, the US could enter another recession. So what is this fiscal cliff and what is Congress doing about it?
Where gas prices are highest

Gasoline is a very visible price, and closely watched by many drivers. Petroleum prices impact many products, from food to industrial production. While the cost of crude is the major factor in gasoline price volatility, some countries levy taxes on fossil fuels. Here are ten countries where high gas prices are the norm, according to British insurance firm Staveley Head.
Decoder Wire
Is Congress broken? Startup Act shows what can work.

The Startup Act is a modest piece of pro-business legislation unveiled Tuesday. It won't change the world, but that's why it may pass. In a partisan Congress, 'good' may be better than 'perfect.' 
Oil prices will rise, Iran says, if embargo comes

Oil prices will go up if European Union goes through with a total embargo on Iranian crude in July, Iran's economy minister says. IMF has warned oil prices could rise as much as 30 percent if Iran halts exports.
As its banking woes mount, Spain ponders where to go from here

Its banks struggling, Spain has moved closer to needing a bailout. But some argue the takeover of Bankia and other measures could mark the beginning of movement toward greater stability.
Donald Marron
How to fix flawed Medicare budgeting

Budgeting for Medicare's hospital insurance program is flawed. Here are two ways to fix it (and one way not to).