Topic: Peter Morici
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Opinion: Fiscal cliff: Republicans on wrong track if they help Obama raise taxes on the rich
Higher taxes won’t much improve US finances and would likely wreck the economy. But as fiscal cliff talks intensify, a small group of Republican senators are prepared to help President Obama make the rich pay more – facts notwithstanding. A better approach: Spur private-sector growth.
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The Twinkie: Will it return as a Mexican expat?
Hostess Brands is liquidating its business after 82 years, which means some of the most iconic brands of the century may be up for auction. Will Twinkies become a foreign import?
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The economic impact of hurricane Sandy
Gauging hurricane Sandy's ultimate impact on the US economy is far more complex than merely adding up insurance payouts and uninsured losses. Disasters can give the ailing construction sector a boost, and unleash smart reinvestment that improves stricken areas.
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Looming 'fiscal cliff' is hurting US economy now, economists warn
Memo to Washington: Don't wait until after the election to resolve the 'fiscal cliff' facing the nation on Dec. 31. Uncertainty about taxes and spending is already harming the US economy, risking a new recession, some economists say.
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Who's the real 'outsourcer in chief'? Why Obama, Romney both shoulder blame.
The trend of outsourcing US jobs predates either President Obama or Mitt Romney, but both have contributed to it in different ways, according to one economist.
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Unemployment rate may give Obama boost
Unemployment rate: Obama may benefit from the unemployment rate drop as the country heads into a presidential election year.
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Rick Perry jobs plan: Make rest of America more like Texas
Texas Gov. Rick Perry, in an address in Pennsylvania, says the energy sector could create jobs in plenty of states where there are resources, and vows to lead charge to clear regulatory hurdles.
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Why China 'trade war' bill is tying House Republicans in knots
House Republicans are blocking a vote on a bill to punish China for currency manipulation. Leaders say it could unleash a trade war, but many rank and file want to take China to task.
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AT&T and T-Mobile merger in jeopardy as Justice Department takes action
An AT&T and T-Mobile merger would mean 'higher prices' for customers, says the Justice Department, which is suing to block the deal. Is the AT&T and T-Mobile merger now a bust?
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Why insurance might not cover billions in hurricane Irene damage
Damage estimates run in the billions for hurricane Irene, but with flooding the main culprit, a majority of damage will be items not covered by insurance claims, experts say.
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Dow takes another dive: what is making investors worried
Obama, Bernanke, and Geithner meet as investors worry that political leaders – in the United States and Europe – and central banks can't do much more to support a weak economy.
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Can the Treasury Department really run out of money?
Probably not, because the Federal Reserve would probably not bounce a check from Treasury. But that might violate the debt ceiling.
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Unemployment rate rises to 9.2 percent. Just a 'soft patch'?
US economy added just 18,000 jobs in June, a sign the recovery is dragging. The unemployment rate rose from 9.1 to 9.2 percent. Still, most economists see a pickup in second half of 2011.
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Economy cools more than expected, rattling stock market
Slowdowns in car sales, manufacturing, home sales, and job creation collectively shook the stock market. Both the Dow and S&P 500 fell more than 2 percent Wednesday.
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Obama says 'Drill, baby, drill.' Will new oil policy ease gas prices?
President Obama used his weekly address to announce steps to promote greater domestic oil production and reduce the burden of high gas prices. Republicans say it's not enough.
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Opinion: Debt crisis 2.0: Facing default, Greece must ditch the euro and rethink its welfare state
A year after being bailed out, Greece is on the brink of default. To save itself, it must dump the euro and stop coddling its citizens. European nations must give up the belief that the benefits of capitalism can be accomplished without individual responsibility, risk taking, and rewards.
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Opinion: Government shutdown isn't our biggest worry. It's the coming fiscal train wreck.
Closing US federal offices for a few days will have not a lasting impact. What counts is whether the newly elected conservative majority in the House of Representatives keeps its promise to cut the deficit and reign in dangerous levels of government spending.
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Opinion: The Obama Doctrine is bad foreign policy
In his speech about Libya last night, President Obama articulated his thinking about intervention quite clearly – and it's quite clearly unacceptable.
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New York Stock Exchange poised to become German-owned
A potential merger would make a German company majority owners of the New York Stock Exchange, the symbolic headquarters of American capitalism.
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America's Job No. 1: A better employment rate
A selection of solutions for a better employment rate: From cutting taxes to raising taxes, job sharing to job training.
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Trade deficit rises faster than expected: How worrying is that?
The US imported $49.9 billion more in goods and services than its exported in June, up from $42 billion in May. Such a large trade deficit is unsustainable and a drag on the economy, experts say.
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Chinese currency: why Americans should care if yuan is revalued
A jump in the value of Chinese currency, the yuan, would make products manufactured in China more expensive, but could also help US manufacturers remain competitive abroad.
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Gold price hits record as investors shy away from euro
Metals like gold and silver have become a core holding for more investors as they focus on the risks that lie in sovereign balance sheets. The gold price was as high as $1,245.80 per ounce Wednesday.
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US economy adds 290,000 jobs in April as recovery gains traction
The 290,000 jobs were spread across every sector of the US economy, the Labor Department reported Friday. Job-market recovery led more people to resume looking for work, driving up the unemployment rate to 9.9 percent.
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With jobs being added, is US economy ready to stand on its own?
The US economy has been propped up in part by government stimulus spending, but some of those artificial supports are slated to fall away later this year. The big question is whether the economy can sustain jobs growth on its own.
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