On cspan. President obama announced his plan to avoid automatic spending cuts known as sequestration scheduled to begin march 1. It is including tax changes. The president spoke to reporters for just over five minutes. Good afternoon, everybody. I wanted to say a few words about the looming deadlines and decisions that we face on our budget and on our deficit, and these are decisions that will have real and lasting impacts on the strength and pace of our recovery. Economists and Business Leaders from across the spectrum have said that our economy is poised for progress in 2013. And weve seen signs of this progress over the last several weeks. Home prices continue to climb. Car sales are at a fiveyear high. Manufacturing has been strong. And weve created more than six million jobs in the last 35 months. But weve also seen the effects that political dysfunction can have on our economic progress. The drawnout process for resolving the fiscal cliff hurt consumer confidence. The threat of m
Adam not as bad as they were earlier. We are off of session lows and may go above 1700. One of the reasons the dow is down 82 points is ibm pulling but dow down and ibm is down 2. 2 accounting for 34 points of of the dow but not only the biggest loser on the dow, they got a downgrade which says their stock price could go as low as 175 a year a share, a big fall down is ibm and one issue is people dont want their mainframes as much as they used to. Lori the windy city has one of the most poorly funded Pension Systems in the country, 50 underfunded. No solutions so far. Could be the next major city to declare bankruptcy . Joining us is steve malanga, senior fellow and author of the indebted states of america, what a title of a book. What is the story with chicago . Truly as bad as detroit or heading in that direction . Economically not as bad a viable global city but their budget is a mess. 3 billion in taxes they collect, this year is the need to a 415 million for pensions and that is g
It is friday, may 15th. Just in case you were wondering. We have made it through yet another week amid this pandemic. Were going to begin with the testimony from the former government doctor who says that he lost a key post last month after opposing the president s push to use an unproven drug to treat the coronavirus. Rick bright, in charge of the federal agency that develops vaccines, told house lawmakers just yesterday there was no plan at the start of the outbreak and that there is still no plan today. Our window of opportunity is closing. If we fail to improve our response now based on science, i fear the pandemic will get worse and prolonged. There will be a resurgence this fall. Without better planning, 2020 could be the darkest winter in modern history. First and foremost, we need to be truthful with the american people. Americans deserve the truth. The truth must be based on science. We have the worlds greatest scientists. Let us lead. Let us speak without fear of retribution.
What americans saw was federal Police Forces tear gassing peaceful americans and what they actually did as you saw for the remaining days was turn out more people and more people who were there for peaceful protests. Weve had up to 3, 4, 5, 600 folks there. There in d. C. And what we saw over the past week is really a city out of control and im happy to say that other the last several days, weve seen that violence ceo crease and a new poll shows more people are troubled about George Floyds killing and actions of police than they are about protests. Look at the numbers there. 21. And mayor de blasio ending the city wide curfew that made it illegal for residents to be outside after a 8 00 p. M. He explained why this morning. Because we got each day better and better situation. More and more peaceful p protestors coming out. Better situation overall each day. Fewer and fewer arrests. I made the decision to end the curfew. And honestly, i hope its the last time well ever need a curfew in n
Can Less Government lead to more productivity . Productivity growth is a crucial but almost invisible element in our economic wellbeing, something we take for granted until it slows down. That happened in the 1970s. We had a blizzard of suggestions for dealing with productivity. How do we get more for less . With the help of analyst richard gill, well examine that question on economics usa. Im david schoumacher. Captioning made possible by the annenberg cpb project economists see the world in terms of supply and demand. Put simply, demand is the appetite to consume. Supply is the ability to produce. Productivity holds the supply side together. As long as productivity continues to improve, our standard of living continues to improve. This is the classic widget factory. This machine will put the stick in a deodorant tube. It if works, well have more deodorant and fewer hours of work putting tubes together. Thats productivity. American productivity has been an economic marvel of the indus