ECONOMY IN BRIEF
by admin on Mar.15, 2009, under economic
From News Services
Sunday, March 15, 2009
Investment in debt safe, Obama says
President Barack Obama reassured China and other countries Saturday that their investments in U.S. government debt were safe. “There’s a reason why even in the midst of this economic crisis you’ve seen actual increases in investment flows here into the United States,” Obama said. “Not just the Chinese government, but every investor can have absolute confidence in the soundness of investments in the United States.” His comments came a day after China’s prime minister expressed worries about the safety of Beijing’s $1 trillion investment.
Sunday TV shows all booked up
Econ-tube: On today’s morning news shows:
> Lawrence Summers, director of the National Economic Council, on both ABC’s “This Week” and CBS’ “Face the Nation.”
> Christina Romer, head of the White House Council of Economic Advisers, on NBC’s “Meet the Press.”
GOP: Too much taxing, spending
Republicans are trying to build on some bipartisan misgivings over the president’s ambitious spending blueprint, claiming that the deficits and taxes he envisions are “destroying opportunities for the next generation.” Delivering the GOP’s weekly radio address, Sen. Charles Grassley of Iowa said, “The president and his allies in Congress want to spend too much, tax too much, and borrow too much. Somebody has to pay —- if not the middle class now, then later. Eventually the middle class gets hit.”
OPEC to discuss production levels
The Organization of the Petroleum Exporting Countries meets in Vienna today to discuss whether to reduce daily production in hopes of raising prices, or to do nothing. While prices are considerably above their low of around $30 just a few weeks ago, a barrel of crude still fetches less than a third of what it did over the summer. Cheap crude has been one of the few bright spots in a world economy reeling from the financial meltdown that has led to the deepest and most stubborn global recession in decades.
read also related posts:
- France’s PM Pushes Financial Reform Ahead of G-20 Meeting
- French Prime Minister François Fillon is in Washington to garner support for tougher international financial regulations ahead of the April 2 Group of 20 economic summit in London. While the Obama administration wants Europe to increase its fiscal stimulus to solve the global economic crisis, the French prime minister says financial reforms must first [...]...
