On Thursday, President Obama released his budget blueprint for Fiscal Year 2010 at a price tag of anywhere from $3.5 trillion to $4 trillion. What kind of shock will this kind of debt have on our economy? How does the projected deficit compare to previous record deficits? Why does the price tag fluctuate? Is the increasing tax burden just on the rich or will all of us end up paying? How much could our energy bills rise? And what about more than $630 billion for government control of health care? We dig through the details with Bill Beach, director of the Center for Data Analysis at the Heritage Foundation.
Gizzi on Politics
How did President Obama do on style and substance in his address to Congress and the nation Tuesday night? How did Louisiana Gov. Bobby Jindal fare in the Republican response? How are conservatives planning to fight off the Obama agenda and an overwhelming Democratic majority over the next two years? What kind of government will eventually be formed in Israel? We ask John Gizzi, political editor at Human Events.
Obama Slams Door on Massive Energy Source, Proposes Big Tax Hikes on Energy Producers
On Tuesday night, President Obama named energy independence as one of the nation’s most urgent priorities. Yet on Wednesday, Obama’s Interior Secretary Ken Salazar decided against opening up what could be one of the world’s largest oil supplies right here in the U.S. What did Salazar do? How much oil will now just go ignored in the name of moving towards wind, solar and other alternative energies? And how does the Obama budget blueprint make life miserable for oil and natural gas producers? Will this just target the Exxons of the world or will many small businesses be hurt as well? We ask Kevin Kennedy of the Institute for Energy Research.
The News
We have Wednesday’s top news… What were the main arguments made by President Obama for his version of economic recovery? What was the thrust of the GOP rebuttal from Louisiana Gov. Bobby Jindal? What is Obama saying about plans to impose new regulations for the financial sector? Who is the president’s third and latest choice for Commerce Secretary? And what happened on Wall Street Wednesday? We have all the answers as we bring you the biggest stories for Wednesday, February 25, 2009.
Texas Rep. Mike Conaway Reacts to President’s Speech on the Economy
Were there really no earmarks in the $787 billion economic stimulus bill? What was in the $410 billion spending bill approved Wednesday in the House? What impact will raising taxes on the wealthiest Americans really have on our economy? Should we have confident in the oversight effort tracking the stimulus dollars? Is more regulation part of the prescription for Wall Street? We ask Texas Rep. Mike Conaway, who represents his state’s 11th Congressional district.
The Economic Impact of the Obama Economic Recovery Agenda
How worried should taxpayers be at the amount of government spending proposed by President Obama? What are the proven methods for growing the economy over the past few decades? How much tougher will it be for the economy to grow because of the big government approach? Will government intrusion into the economy stop once we’re in recovery or will it be entrenched even deeper? We ask Diana Furchtgott-Roth, senior fellow at the Manhattan Institute and former chief economist for the U.S. Department of Labor.
Obama, Energy and the Economy
Energy was the first of three areas discussed by President Obama on Tuesday night on which he wants decisive action to be taken by Congress. But is his agenda realistic and beneficial for our economy or mandating changes that will spend a lot of money but noe be all that great for our fiscal health? What impact will industrial carbon limits have on our economy? Why did he mention nothing about oil and natural gas production? We ask David Holt of the Consumer Energy Alliance.
Obama, Government and Health Care
On Tuesday night, President Obama cited health care reform as one of his primary legislative goals for the rest of this year. But is he right when he says over a million Americans are on the brink of losing their homes because of soaring health care costs? Are premiums rising much higher than wages? How is Obama setting up his position on the health care front by railing against the private sector in the financial industry? How much growth in government and government intrusion are we looking at if Obama gets his way on health care? And what buzz words should we be looking for in deciphering rhetoric from policy? We ask Grace-Marie Turner, president of the Galen Institute.
The News
We have Tuesday’s top news… What will President Obama say tonight in hopes of rallying America behind his economic agenda? What potential good news did Federal Reserve Chairman Ben Bernanke deliver on the depths of this recession and the possible nationalizing of banks? Who is the latest high-profile Democrat to call on Illinois Sen. Roland Burris to resign? What was the Senate vote on Obama’s nominee for Labor Secretary? What happened in the Senate Tuesday in the effort to grant the District of Columbia a vote in Congress? And what happened on Wall Street? We answer all those questions as we bring you the biggest stories for Tuesday, February 24, 2009.
Is the Bottom of the Recession in Sight?
On Tuesday, Federal Reserve Chairman Ben Bernanke said he foresees a possible bottoming out of the economy later this year with an economic recovery then lasting a number of years. What suggests we may soon be on the economic upswing? What policies could stunt or accelerate economic growth? Are the current Obama economic priorities a help or a hindrance? We ask Scott Hodge, president of The Tax Foundation.