Gets shipped via rail, will the focus return to building out pipelines . All that and more tonight on nightly Business Report for thursday, january 2nd. Good evening and happy new year everyone. Well, a winter storm whipped through the northeast on this First Business day of 2014 and on wall street stocks turned icy cold coming off a banner year. Some say investors were booking profits after the runup and others are blaming a downgrade of apple for weakness in the tech sector that affected a range of other companies whatever the reasons, all ten ended lower and the first time in five years the first trading session of the new year ended to the downside. Here is how the major averages closed. The dow tumbled 135 points, the s p lost 16 points but gold rallied today after tumbling 28 in 2013, the worst annual decline in more than three decades. Prices of the precious metal rose 23 an ounce today. Crude prices fell ending at a fiveweek low at 95. 44. Today may have been an ice patch. The
Gets shipped via rail, will the focus return to building out pipelines . All that and more tonight on nightly Business Report for thursday, january 2nd. Good evening and happy new year everyone. Well, a winter storm whipped through the northeast on this First Business day of 2014 and on wall street stocks turned icy cold coming off a banner year. Some say investors were booking profits after the runup and others are blaming a downgrade of apple for weakness in the tech sector that affected a range of other companies whatever the reasons, all ten ended lower and the first time in five years the first trading session of the new year ended to the downside. Here is how the major averages closed. The dow tumbled 135 points, the s p lost 16 points but gold rallied today after tumbling 28 in 2013, the worst annual decline in more than three decades. Prices of the precious metal rose 23 an ounce today. Crude prices fell ending at a fiveweek low at 95. 44. Today may have been an ice patch. The
Crude may be more flammable than conventional oil, and as more gets shipped via rail, will the focus return to building out pipelines . All that and more tonight on nightly Business Report for thursday, january 2nd. Good evening and happy new year everyone. Well, a winter storm whipped through the northeast on this First Business day of 2014 and on wall street stocks turned icy cold coming off a banner year. Some say investors were booking profits after the runup and others are blaming a downgrade of apple for weakness in the tech sector that affected a range of other companies whatever the reasons, all ten ended lower and the first time in five years the first trading session of the new year ended to the downside. Here is how the major averages closed. The dow tumbled 135 points, the s p lost 16 points but gold rallied today after tumbling 28 in 2013, the worst annual decline in more than three decades. Prices of the precious metal rose 23 an ounce today. Crude prices fell ending at a
Very high and is persistent and woringly so in terms of the human cost and the long term cost for our economy. You testified before that not all cuts are the same. And that there are some ways in which we are cutting that are hurting our long term competitiveness. They produce longer term reductions in our capacity and that we should be prioritizing things that will accelerate growth, that we should not be simply trying to get through this difficult fiscal time in a way that focuses on austerity. We should be investing in a way that sustains growth. What types of policies in your view could both help accelerate growth and do so in a way that would deal with long term unemployment . And what are the budget airy implications for long term unemployment . The first part of your question, senator, of all nondefense Discretionary Spending, half represents investment of some sort about 20 of nondefense Discretionary Spending is investment in physical capital such as highways. Another 15 is go
The committee will come to order. Everybody can take their seats. Andorning, everyone, welcome. I want to thank senator murray and the entire committee. Patti and i have been talking. We are discussing the parameters of an agreement. We are not there yet. There is a big gap between our two budgets and case anyone has noticed. That is why we are talking. The reason why we are here is to get an agreement. We spent a lot of time talking about our differences. We got that part down cold. The hard part is skittering out where we agree. I am not going to start the hard part is figuring out where we agree. I will start with dr. Elmendorf. He will give us the longterm Economic Outlook. I will recognize any member for two minutes or for discussion or to ask a question. People can be recognized more than once if they choose to do so. We intend to adjourn at noon. With that i would like to recognize senator murray before we recognize dr. Elmendorf. Thank you to dr. Elmendorf for being here today.