The Chinese Come Calling

Robert Scheer / Truthdig Jul 29, 2009 What a hoot. The Chinese Communists invaded Washington on Monday demanding not that we sacrifice our freedoms but rather that we balance our budget. Creditors get to make that kind of call. And the Marxists of Beijing, who have turned out to be the world’s most prudent bankers, are worried about their assets invested in our banana republic. The Marxists bankers of Beijing are worried about their assets invested in our banana republic. Dig deeper ( 3 Min. Read )

Budget Deficit Hits $1.8 Trilly

Staff / Truthdig Mar 20, 2009 The current year's federal budget deficit, according to congressional economists, will top $1.8 trillion, the biggest ever by far. And their projection for the fiscal 2010 budget shortfall is tickling $1.4 trillion, putting both estimates much higher than they were in forecasts back in January. Dig deeper ( 1 Min. Read )

Stronger, Please, Mr. President

Joe Conason / Truthdig Feb 12, 2009 Having allowed his Republican opponents to dominate the economic debate, Obama used his first news conference to rebut them -- coolly and civilly, yet without leaving any doubt that he can strike back harder if necessary. Dig deeper ( 3 Min. Read )

The Politician in Chief Works for a Stimulus

E.J. Dionne Jr. / Truthdig Jan 9, 2009 The substantive issues surrounding an economic stimulus are clearer than the politics of getting it passed fast. Here's how Obama is trying to weave the politics and the substance together. Dig deeper ( 3 Min. Read )

Dow Plummets as Debt Soars

Staff / Truthdig Oct 10, 2008 After seven straight drops, the Dow landed at 8579.19 on Thursday, a year to the day after hitting a record of more than 14,000 points. The owners of the national debt clock in New York, meanwhile, announced they will add two digits to the board in order to display a quadrillion -- because that's where we're headed. Dig deeper ( 1 Min. Read )

Hustling Toward a Bailout Compromise

Staff / Truthdig Sep 25, 2008 Following days of hype-work by the Bush administration to scare taxpayers into paying for Wall Street's failures, support for the $700-billion bailout seems to be gaining steam. Analysts believe the final bailout plan, expected in a day or two, may look eerily similar to Bush's initial proposal, with some slight changes. Dig deeper ( 1 Min. Read )

Fiddling While Wall Street Burns

Marie Cocco / Truthdig Sep 18, 2008 Obama shows more promise than McCain, if only because he correctly sees deregulatory zeal as a culprit. But Obama's economic strategy simply can't be implemented now: He wants to spend on necessary investments such as health care, but would have no money to do it. Dig deeper ( 3 Min. Read )

The Rise and Fall of Fannie and Freddie

Staff / Truthdig Jul 13, 2008 Although certain Washington denizens from both sides of the aisle might have been thrown when the two government-backed mortgage finance companies, Fannie Mae and Freddie Mac, hit the skids last week, several of their current and former colleagues had long seen the crisis coming. Dig deeper ( 1 Min. Read )

U.S. Withholds Loans in Water-Starved Haiti

Staff / Truthdig Jun 25, 2008 The US is under heavy criticism by human rights groups for withholding funds for clean water projects in Haiti as leverage for U-led political reform in the country A total of $54 million in loans to Haitians -- 70 percent of whom already lack daily access to potable water -- is being delayed. Dig deeper ( 1 Min. Read )

Obama to Pay for Party Unity

Staff / Truthdig Jun 25, 2008 Barack Obama is reaching out to Hillary Clinton's pocketbook, asking his finance team to help pay off at least $10 million of the debt Clinton accrued during her primary bid. The move comes after an announcement that Camp Obama had raised $287 million by the end of May and declined public funding of his campaign. Dig deeper ( 1 Min. Read )

Hillary Clinton Concedes, Throws Her Support to Obama

Staff / Truthdig Jun 8, 2008 Hillary Clinton formally stepped off the long road to the White House on Saturday, at least in terms of seeking the presidency herself, by standing before a throng of supporters in Washington, D.C., and announcing she was suspending her campaign. She congratulated former rival Barack Obama and asked the gathered well-wishers "to join me in working as hard for Barack Obama as you have for me." Dig deeper ( 1 Min. Read )

Obama Pulls Ahead in Superdelegate Count

Staff / Truthdig May 10, 2008 The aftereffects of Tuesday's Democratic primaries in North Carolina and Indiana are registering in the ongoing contest for superdelegate supporters: By late Friday, Barack Obama's "super" group was just 166 short of the 2,025 delegates he needs to win the nomination. Dig deeper ( 1 Min. Read )