Despite historically high projected US budget deficits, the US is the 'most credit-worthy country in the world,' says Christina Romer, chair of President Obama's Council of Economic Advisors.
As long as the Olympics change locations, ill-equipped cities like Vancouver will make cosmetic preparations that only exacerbate local issues.
European Union (EU) leaders promised on Thursday that they stand waiting to help debt-laden Greece, if needed. But the euro declined as investors worried about the lack of a clear commitment to a bailout package.
Polls show that nearly two-thirds of Greeks support austerity measures to deal with the Greece debt crisis. But taxi drivers, facing new gas taxes, went on strike Thursday.
European Union leaders gathering for a crucial summit Thursday face tough choices: come to Greece’s rescue with the first ever bail out of a eurozone state or hold back and see if Greek spending cuts and reforms can avert a default.
Stocks rallied in the US and in Europe on Tuesday on expectations of an emergency European Union bailout for Greece. But Greece, with a ballooning national debt, is not out of the woods yet.
President Obama met with leaders of both parties Tuesday to move forward one of his key objectives: a bill designed to stimulate job creation. Democrats have said they would like to pass a jobs bill by Feb. 12.