2011 April | Finance Information - Mortgage, Debt, Credit Cards

Richard (RJ) Eskow: Bernankemania! Empty Golden Words From the Leader of the Temple

Ben Bernanke's voice has been known to put humans into a trance even under the best of circumstances, and I was under the influence of a fever and some cold medications. Still, other observers reported a similar reaction to my own. The Fed Chair's press conference felt like a sensory deprivation tank, but with extra-credit math questions.

Was Mr. Bernanke calm? Put it this way: I watched the video feed for several minutes before I realized it wasn't a photograph. A lizard can stay motionless for so long, you start wondering if it's real. It was like that. Then Bernanke turned his head, and I got the same feeling you get when the lizard blinks.

That's the Robitussin talking, not me.

House Republicans Lining Up Sweeping Cuts For Debt Limit Vote

WASHINGTON -- House Republican leaders are zeroing in on the package of massive spending cuts and reforms they plan to attach to next monthâs vote to raise the debt limit.

The pieces being considered for the package include a mix of hard discretionary spending caps, substantial cuts to mandatory spending, a reduction in federal government hires and a fail-safe âtriggerâ option that would force additional cuts if Medicaid reforms or spending cuts are not enacted by a certain date.

A House GOP leadership aide told The Huffington Post on Wednesday that the package is ânot final by any stretch,â but that its key pieces are coming into focus.

Video: Obama birth certificate released, Trump takes credit: What do you think?

President Obama released his official Hawaii birth certificate Wednesday and potential Republican presidential candidate Donald Trump immediately took credit. "Washington Unplugged" took to the streets to see what you thought of today's political news.

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April 27, 2011 · Filed under finance

Video: Why now? Analysis on timing, reasoning behind release of Obama birth certificate

President Obama unveiled his original birth certificate for the first time Wednesday and Donald Trump quickly took credit for the release at a media availability in New Hampshire. CBS News' Bill Plante discussed the timing and reasoning behind the White House's decision with chief Washington correspondent Bob Schieffer and chief White House correspondent Chip Reid.

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April 27, 2011 · Filed under finance

Ryan Crocker Top Choice For U.S. Ambassador To Afghanistan Post, Sources Say

WASHINGTON -- President Barack Obama is likely to name seasoned diplomat Ryan Crocker as the next U.S. ambassador to Afghanistan, several sources told The Associated Press on Tuesday, part of a far-reaching turnover of the nation's top leadership of the Afghanistan war as Obama prepares to begin bringing forces home this summer.

The move would reunite Crocker with Gen. David Petraeus in a rerun of the diplomatic and military "dream team" credited with rescuing the flagging American mission in Iraq. In the coming months, Obama will have to name replacements for Defense Secretary Robert Gates, Joint Chiefs of Staff Chairman Mike Mullen, other senior military leaders and probably Petraeus himself.

Erica Payne: The Fight Continues

The Patriotic Millionaires are striking back in a new letter to Ranking Republican on the Senate Finance Committee Orrin Hatch. Last week, he sent the group a letter detailing his views on tax cuts, the national debt and the budget -- and so it seems the fight has only begun.

In a detailed letter including historical data, statistics, and national debt trends, the Patriotic Millionaires counter Senator Hatch's assertion that the solution to our nation's problems is not increasing taxes but decreasing spending by stating, "The spending that led to such debt resulted from the collective actions of Senators and House Representatives, including you."

The dispute between Hatch and the Patriotic Millionaires began when he responded to their campaign by asserting that if they wanted their taxes to increase, they could make voluntary contributions to the IRS. See a time line of the dispute below.

Government Financial Assistance: Americans Depend More on Federal Aid Than Ever

Americans depended more on government assistance in 2010 than at any other time in the nation's history, a USA TODAY analysis of federal data finds. The trend shows few signs of easing, even though the economic recovery is nearly 2 years old.

Mitt Romney ‘Peacetime’ Gaffe Dilutes Message On Debt

BOSTON (Reuters) - Republican Mitt Romney, who is raising money to run for the White House in 2012, criticized President Barack Obama on Monday over the country's debt problem but soon found himself under attack on another front.

An opinion piece by the former Massachusetts governor focused on last week's threat by an influential ratings agency to cut the U.S. credit rating.

Fed’s Next Step Uncertain As QE2 Stimulus Ends

NEW YORK -- When Federal Reserve chairman Ben Bernanke holds his first-ever press conference on Wednesday, he will have some explaining to do. Two months from the scheduled end of the Fed's stimulus program, the economic recovery remains weak.

Since the Fed's asset-purchase strategy began last fall, corporate America has gotten a boost, as borrowing has become cheaper and the stock market has rallied. But the broader economy still struggles. Home prices hit a new low in February, and unemployment, though improved, remains high. Most recently, rising oil prices have wounded consumer confidence, stoking fears that the nation could slip back into recession.

The $600 billion asset-purchase program, dubbed "quantitative easing" or "QE2," is intended to spur the recovery. Since November, the New York branch of the central bank has been buying new U.S. government debt from private firms, bidding up the price of Treasury securities and causing yields to fall. Those falling yields, in turn, have pushed down interest rates across the economy, making borrowing cheap and, in theory, stimulating business activity.