This week, President Obama is facing economic challenges from both sides of the aisle. Republicans are threatening a government shutdown over the 2014 budget and the implementation of the Affordable Care Act. And pressure from liberal Senators led to Lawrence Summer withdrawing his name from consideration for Fed Chairman over the weekend. Wall Street Journal reporter Elizabeth Williamson discusses the latest from both stories.
New Jersey Public Radio's Nancy Solomon discusses the breaking news that NJ Senator Frank Lautenberg died this morning at the age of 89. Plus, Elizabeth Williamson, Wall Street Journal reporter, discusses the latest news from Washington including the ongoing probe into IRS targeting of conservative groups; new estimates of Medicare's long-term funding; the debate over student loan rates; and her reporting on how Washington, DC's local economy is thriving despite the sequester.
In 2010, Congress passed the Commercial Advertising Loudness Mitigation Act, also known as the CALM Act, which would keep television commercials from being louder than the programs they sponsor. The law finally went into effect last week. In an interview originally aired in 2010, the Wall Street Journal’s Elizabeth Williamson explains to Bob why regulators haven't been able to turn down the volume of commercials until now.
Felicia Sonmez, Washington Post congressional reporter and lead author of 2chambers, the Post's blog covering politics and policy on Capitol Hill, and Elizabeth Williamson, reporter for the Wall Street Journal, talk about the three free trade agreements with Colombia, Panama and South Korea, which the White House submitted to Congress yesterday after resolving a dispute over displaced worker assistance.
The unemployment rate for January dropped unexpectedly to 9.7 percent from 10 percent, even with 20,000 jobs lost. The Labor Department says that's because a survey of households found the number of employed Americans rose by half a million. It is projected that the unemployment rate will hover around eight percent until 2013. All this after the markets closed yesterday at the lowest levels so far this year.