While Washington continues tp debate the debt ceiling, the United States is expected to reach the limit on its debt today. This means the government will no longer be able to borrow money. Charlie Herman, business and economics editor for The Takeaway and WNYC Radio, says it's just a mystery what will happen, because we're not seeing any deals on the table yet. There are questions about the future of the International Monetary Fund after its managing director, Dominique Strauss-Kahn was arrested in New York for allegedly sexually assaulting a Manhattan hotel maid.
A week ago, Osama bin Laden was found and killed by American special forces in Pakistan. A hefty amount of information has been retrieved from the compound, enough information to fill a "small college library," according to Tom Donilon, President Obama's National Security Adviser. A number of videos of Osama bin Laden were released to the public, including one, which shows the late terrorist watching videos of himself on a small television. Callie Crossley, host of "The Callie Crossley Show" on WGBH in Boston, looks at what all this intelligence will tell us about bin Laden, and how this affects the U.S. role in Afghanistan.
Despite promises of reform from both the Syrian and Yemeni governments, demonstrations — and serious bloodshed — rage in both countries. NATO continues to support the rebels in Libya while some U.S. Senators call for Gadhafi's ouster. Marcus Mabry, editor-at-large of the International Herald Tribune, looks at protests throughout the Middle East and NATO's role in Libya. Middle East turmoil has also led to rising oil and gas prices in the U.S. Oil companies are set to release their earnings this week and Charlie Herman, economics editor for The Takeaway and WNYC, looks at rising oil profits and potential price gouging investigations.
The U.S. House and Senate are in recess for the next two weeks, but recess doesn't necessarily mean relaxation. With the budget crisis still looming, the break may give Congressmembers the opportunity to do some politicking as they gear up for a the next round of battles over the deficit. But while Washington is gridlocked over future budget proposals, the rest of America will receive some economic indicators this week — including a report on previously owned homes by the National Association of Realtors. And locally, North Carolina's budget may take its own hit this week after a series of powerful tornadoes swept through Raleigh this weekend.
In other political news, President Obama is back on the campaign trail and he gears up for 2012 elections. This week he'll make stops in Los Angeles and San Francisco.
We get a preview of the week ahead with Kai Wright, editor of the news blog, Colorlines and Charlie Herman, economics editor for The Takeaway and WNYC Radio.
President Obama is set to deliver a much anticipated speech 1:30 p.m. at George Washington University in Washington. The speech will detail his long-term plans for reducing the nation's deficit. Todd Zwillich, The Takeaway's Washington correspondent says that the president will have to prepare the public for tough decisions as he faces the debt.
Last Friday night, with a government shutdown staring them right in the eyes, Congress was able to come to temporary resolution over the 2011 budget crisis. President Barack Obama will lay out the details for reducing the deficit in a speech Wednesday night. What's the next big showdown in Washington? Raising the debt ceiling. Charlie Herman, business and economics editor for The Takeaway and WNYC Radio, sees the debt debate as "bigger and more troublesome" than what just transpired over the budget.
Congress continues to battle over the nation's budget. Could the government be headed for a shutdown? Charlie Herman, economics editor for The Takeaway and WNYC Radio, and Callie Crossley, host of The Callie Crossley Show on WGBH, look ahead to the week in news.
Private employers, the backbone of the economy, drove nearly all of the gains last month, adding 230,000 new jobs. This comes on top of the 240,000 added in February and was the first time private hiring topped 200,000 in back-to-back months since 2006. There was good news about unemployment numbers too, as the unemployment rate dipped from 8.9 percent in February to 8.8 percent in March. The rate has fallen a full percentage point over the last four months, the sharpest drop since 1983. Charlie Herman, economics editor for The Takeaway and WNYC Radio, analyzes the news.
With support from coalition forces in the air, Libyan rebel forces have been able to recapture recent losses and are pushing towards Col. Moammar Gadhafi's strongholds. However, the U.S. is committed to passing responsibility on and Defense Secretary Robert Gates told NBC's "Meet the Press," "beginning this week or within the next week or so, we will begin to diminish the commitment of resources that we have committed to this." Marcus Mabry, editor-at-large of the International Herald Tribune, looks at how the impact of a U.S. drawdown could impact the situation in Libya.
Operation Odyssey Dawn began Saturday with coalition missiles targeting Moammar Gadhafi's tanks and air defenses. Is the United States leading this effort? Meanwhile, relief and rescue efforts continue in Japan and time is of the essence as over 12,000 people are still missing and 8,000 have been confirmed dead so far.
The 8.9 earthquake and tsunami that rocked Japan Friday is certain to have an impact on the world's market. Already Japan's Nikkei average fell over 4 percent in early trading Monday morning. Charlie Herman, economics editor for The Takeaway and WNYC Radio, looks at how the disaster in Japan could affect the U.S.'s economy and stock market.
Whether or not to enforce a no-fly zone over Libya is becoming a hot issue in Washington. Many lawmakers like Senator John McCain (R-Ariz.) and Senator John Kerry (D-Mass.), are calling for a no-fly zone, as rebels in Libya face rough times against the better equiped Libyan armed forces. Callie Crossley, host of The Callie Crossley Show on WGBH in Boston, looks at what we can expect next in the Libyan crisis this week.
The U.S. economy added a net 192,000 jobs in February, according to the latest Labor Department figures out Friday. The unemployment rate is now at 8.9 percent — the first time that figure has dropped below nine percent in nearly two years. Takeaway and WNYC economics editor, Charlie Herman and The Wall Street Journal's Kelly Evans look at the numbers.
The government is on the verge of a shutdown Friday, as Democrats and Republicans try and come up with some kind of resolution on the budget. Chrystia Freeland, global editor-at-large of Reuters, and Charlie Herman, economics editor for The Takeaway and WNYC Radio, will look into their chrystal balls and see if any resolution is in sight. While Washington makes attempts at a budget resolution, Secretary of State Hillary Clinton is heading to Switzherland to come up with a resolution on dealing with Col. Moammar el-Gadhafi and Libya. Are Gadhafi's days numbered?
Last week, Egypt and President Obama’s 2012 budget proposal held our attention. This week, ongoing upheaval in the Arab World, public sector unions and what Reuters Global Editor-at-Large Chrystia Freeland calls “the Groupon effect” promise to be on our monitors and TV screens.
With protesters in Egypt successfully overthrowing President Hosni Mubarak, following successful protests in Tunisia, we take a look at Yemen. That country has seen protests all weekend — not from the opposition but from the youth of the country, who have organized primarily via text messaging. Noel King, managing producer for The Takeaway, looks at why the U.S. should be keeping a close eye on what's happening in Yemen, as well as in Iran.
Egypt will likely dominate the headlines all week, with everyone waiting to see if President Hosni Mubarak will cede to the wishes of the protesters and step down. Calli Crossley, host of The Callie Crossley Show on WGBH in Boston, looks at what's ahead this week for the people of Egypt and its government. Charlie Herman, economics editor for The Takeaway and WNYC in New York, looks at the potential impact the uprising in Egypt could have on the price of oil, and on how it could impact trade on the Suez Canal.
President Obama's State of the Union Address on Tuesday is the most anticipated event of the week. Kai Wright, editorial director of ColorLines Magazine, says this speech will signal the start of the 2012 presidential campaign. He shares what to expect from the President's speech, and what the aftermath of it will look like. Kai says the match up is no longer Republicans vs. Democrats, as much as it's Republicans vs. Republicans.
China's President Hu Jintao is heading to the United States this week and will meet with President Obama at the White House on Wednesday. Marcus Mabry, associate national editor for The New York Times, and Charlie Herman, economics editor for The Takeaway and WNYC, discuss what they expect to come out of this meeting between the leaders of two of the most powerful countries in the world.
The jobs report for December is out with some good news: The unemployment rate is down to 9.4 percent, hitting the lowest it's been since May, 2009. However, the number of jobs created, 103,000 in December, came in lower than expected. Economics editor for The Takeaway and WNYC, Charlie Herman explains.