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Debt Ceiling

The Takeaway

Panetta Aims to Cut Billions from Pentagon Budget

Tuesday, January 03, 2012

Secretary of Defense Leon Panetta is expected to announce plans this week to cut hundreds of billions of dollars from the Pentagon's budget. The cuts, precipitated by both the United States' fiscal situation and a deal passed to raise the debt ceiling last summer, will shrink the military so it will no longer be able to sustain two ground wars at once. The Pentagon will trim about $450 billion, or about 8 percent of its budget. However, it may be forced to cut an additional $500 billion if lawmakers on Capitol Hill go through with deeper reductions. Defense hawks say cutting $1 trillion from the Pentagon's budget would have a deleterious impact on national security.

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The Takeaway

The Economic Forecast for 2012

Friday, December 30, 2011

As evidenced by the Congressional debt panel's failure, MF Global's $600 million missing investor funds, and lagging employment numbers, the U.S. has a long way to go in terms of solving the economic problems that created the 2008 financial crisis. And there are plenty of potential pitfalls abroad — China's inflation rate is at 10 percent, and the euro zone's ongoing debt crisis. Yet, there are bright spots with many manufacturing, energy, and tech sector jobs growing.

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It's A Free Country ®

Super Committee Struggles: What $1.2 Trillion in Cuts Looks Like

Wednesday, November 16, 2011

Should the deficit reduction super committee fail to cut at least $1.2 trillion in spending, a trigger will do it for them, taking an axe to defense spending while largely sparing entitlement programs.

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It's A Free Country ®

Why Starbucks' CEO Wants to Freeze Campaign Contributions

Tuesday, October 04, 2011

The gap between the haves and have-nots is widening. The amount of revenue that state and local municipalities have is going to cut social services in America, and this is why it's so vitally important for corporations to recognize that their pursuit of profitability as a singular goal is quite shallow. It needs to be balanced with a social conscience.

— Starbucks CEO Howard Schultz on The Brian Lehrer Show.

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It's A Free Blog

Opinion: Obama's Second Term Chances Rest with Jobs Plan

Monday, September 12, 2011

there are some major political incentives for Republicans to not act, both on ideological grounds, as well as strategic. If the economy recovers faster after this bill is passed, I’d bet my bottom dollar that Obama gets reelected.

-Solomon Kleinsmith, It's A Free Country blogger.

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It's A Free Country ®

House Races to Watch: GOP Frosh Sees Tea Party Challenge in Ind.'s 'Bloody Eighth'

Friday, August 26, 2011

On August 1, Larry Bucshon, a freshman GOP representative from Indiana’s Eighth Congressional District, joined the majority of his caucus to vote in favor of raising the debt ceiling in exchange for a package of spending cuts and the promise of more to come.

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The Takeaway

Congressional Debt Panel Faces Steep Challenges

Thursday, August 18, 2011

The twelve-member joint Congressional "super committee" that has been tasked with creating a deficit reduction plan that both Republicans and Democrats can stomach — by Thanksgiving, no less — has a tough path ahead. It's a goal that seemed impossible for President Obama and Congressional leaders to achieve, just last month. Can the committee succeed where others failed?

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The Takeaway

If You Were On Our Super Committee...How Would You Solve Debt?

Tuesday, August 16, 2011

Congress has a super committee, and we're looking for our own. Do you have an interest in the issues, and the problem-solving skills to tackle them? While politicians in Washington haggle over spending cuts and new tax revenues, we want to look at the solutions put together by regular Americans. Over the next few months as 12 members of Congress and the Senate meet, we'll also be covering some of the possible solutions for the country's debt challenges. We need your help. Fill out the questionnaire below and you could get chosen to help The Takeaway, The Brian Lehrer Show and It's A Free Country try and solve our nation's problems. 

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It's A Free Country ®

Explainer: How America Redistributes Wealth, State by State

Tuesday, August 16, 2011

When it comes to divvying up tax revenue, states with richer citizens end up footing the bill for those with lower per capita income.

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It's A Free Blog

Opinion: Obama's Job Plan - Another Promise when We Need Action

Tuesday, August 16, 2011

The president has been telling us "I will" for a long time. The American people, though, don't need a promissory note. We don't need to be tantalized by a trailer for a fall blockbuster.

-Justin Krebs, It's A Free Country blogger.

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The Takeaway

Big Ideas to Fix the Economy: Boost Housing Prices

Tuesday, August 16, 2011

On the heels of the debt ceiling crisis, Congress has established a "super committee" to find ways to reduce America's debt.  The twelve-member committee began work on debt-reduction strategies this week, aiming to come up with a plan to reduce the deficit by $1.5 trillion by Thanksgiving of this year. But as lawmakers lock horns over where to find spending cuts, we've been asking our listeners for suggestions on how to fix the economy. One suggestion our listeners had was to boost housing prices.

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It's A Free Blog

Opinion: Warren Buffett Was Right on Taxes, But He Didn't Go Far Enough

Monday, August 15, 2011

Common sense ideas like this, on how we can in one fell swoop, make the tax system more fair, cut deficit spending and stimulate the economy where it needs the stimulation are exactly the kinds of ideas we need right now.

-Solomon Kleinsmith, It's A Free Country blogger.

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It's A Free Country ®

Meet Congress' Debt Super Committee

Wednesday, August 10, 2011

Congress has named the first few picks for the deficit reduction “super committee.” It’s A Free Country takes a look at some of the people charged with determining where to cut $1.5 trillion out of the nations budget over the next ten years.

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It's A Free Blog

Stucknation: America's Debt Addiction is About Character, Not Numbers

Wednesday, August 10, 2011

We have permitted debt and speculation to hollow out America's core. We mistake playing the margins, the spread and the angles as the surest way to prosperity.

-Bob Hennelly, It's A Free Country columnist.

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The Takeaway

China and the US: An Economic Turning Point?

Wednesday, August 10, 2011

Yesterday, U.S. Treasury secretary Timothy Geithner spoke by phone with his Chinese counterpart, Vice Premier Wang Qishan, to discuss the challenges facing global markets after a tumultuous week for the U.S. economy. China's stock market plunged on Monday (along with the U.S.'s), following the news that Standard and Poor downgraded America's credit rating. Chinese investors are concerned that the current poor economic climate in the U.S. will lead to decreased demand for Chinese exports. China is the largest U.S. foreign creditor, but over the weekend on Chinese websites many people were calling for China to invest less money in the U.S.

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It's A Free Country ®

Watch Live: Obama Addresses Nation on Economic Instability

Monday, August 08, 2011

President Barack Obama delivers a statement about the economy as the nation grapples with the first downgrade of U.S. debt in the country's history, and will give an update on military operations in Afghanistan.

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It's A Free Blog

Opinion: S&P Downgrade Overdue Punishment for Political Idiocy

Sunday, August 07, 2011

The Magical Thinking that the politicians have been feeding the American people, that we can get more from the government than we collectively give in taxes, is now being exposed for the fraud that it is.

-Solomon Kleinsmith, It's A Free Country blogger.

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It's A Free Country ®

Did Anyone Make Money on the Debt Ceiling Nightmare?

Thursday, August 04, 2011

Is the Pope Catholic? While no one is gloating publicly, there are plenty of ways that a resourceful trader could have made millions as the country barreled towards the financial cliff of not raising the debt ceiling.

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It's A Free Country ®

David Weprin for NY-9

Thursday, August 04, 2011

Where I come from, sixty-forty is a pretty significant victory, so I’d be very happy to get sixty percent.

Democratic candidate David Weprin for CD-9, on The Brian Lehrer Show.

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The Brian Lehrer Show

Negotiating Debt Ceiling Through Social Media

Tuesday, August 02, 2011

Micah Sifry, co-founder of Personal Democracy Forum and techPresident, talks about the Obama administration's efforts to reach out to voters around the debt ceiling issue—and whether those efforts worked.

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