malone s is the country s only village post office. the postal service says they expect to save about $42,000 a year here and may turn as many as 3,700 existing locations into village post offices. but with a looming debt of $9 billion, saving the u.s. mail service is going to take more than a village post office. patrick oppman, cnn, malone, washington. the news continues now with randi kaye. this is the bill, says president obama. the question now is whether the american jobs act will ever be turned into law and how fast. as you may have seen live right here on cnn, president today showed off the job creating blueprint he plans to send to congress just hours from now. it is $447 billion worth of tax breaks and new federal spending which the white house says will be more than offset elsewhere in the budget. it would deepen and extent the existing payroll tax cut for employees and employers, it would pump $60 billion into infrastructure projects and $25 billion into schoo
increases are a job killer, particularly when you have over 9% unemployment. norm orn steen, that is disingenuous to say the least, that he realized they were a job killer, why he extended the bush era tax cuts. there s one reason only the president extended those bush era tax cuts and that s because he needed a deal to extend unemployment. this is the kind of misinformation campaign that is continuing on capitol hill. i sent out a tweet a couple of hours ago, i said, could anybody, anybody provide me with research, not opinion, but research that tax increases kill jobs. please send my way if you can. i haven t gotten anything that is of substance that s been sent my way. tell me if you know of research that indicates that tax increases kill jobs because there are no tax increases anywhere in this bill that covers the next ten years. no, of course, we re seeing a lot of disingenuousness across the board. a lot are the talking points, republicans repeating all the time. we
the most recent cnn o.r.c. polling says 51% of americans would hold republicans responsible if the debt ceiling is not raised. just 30% would find president obama more responsible. peter moresi joins us. i have to ask you this, you are an economist, you re a well-respected economist and we have spoken together for years. do you have any evidence of what so many conservatives are saying that if we were to increase taxes at all, at all at this point in an economic cycle, that it would actually hurt our economic recovery? well, increasing taxes wouldn t hurt anymore than, say, cutting spending. both would decrease the amount of demand in the economy. to say taxes would hurt the economy is kind of code for, cutting spending is okay, but taxes are not. that s simply not true. in fact, raising taxes may be less deleterious than cutting spending. economic theory says so. did anything that happened yesterday, friday, have any effect on you when you looked at those gdp number that
jeanne, first question, is it time to simply say, let s go for the possible in washington? everybody has grand ideas about what they want to do. nobody, nobody can get the support to get one of those through. do we have to look for just the possible? i think the mission of everyone in congress is to absolutely raise the debt ceiling. they cannot get away without doing that. the s&p has been the strongest credit rating agency. they said, we re going to downgrade you if you don t come up with a plan. but they say f you raise the ceiling but give us indication that you re on the road to getting agreement on the deal, we ll keep you on credit watch negative but we ll affirm your aaa rating if you get it done within a couple of months, if we see that possibility. that seems to me to be the fallback plan for congress. whether they take senator mcconnell s plan, neither the republicans or the democrats seem to like it. it would allow the president to raise the debt ceiling a numbe
mark, what about leasing our highways? is that a good idea? europe has done quite a bit of good with that with respect to provation of the highways, but, again, these are small miniscule dollar. we have a $14.5 trillion debt and a $1.6 trillion deficit. my problem is when you begin selling these assets, quite frankly, you re not investing, you re paying off the debt. whereas the government holds enormous mining assets which could be given out in leases which results in a recurring revenue and creates jobs therefore improving the tax base. i think these ideas are not a good idea. it s rather flip aunt and not a strong approach. these are strong opinions.