California's low-carbon fuel standard has oil companies anxious
By Dale Kasler | Sacramento Bee
In car-crazy California, a new fuel standard ordered by state officials to curb greenhouse gases could dramatically change how vehicles run.
It also could have a huge effect on cost.The petroleum industry and some economists say the new standard adopted by the state Air Resources Board on Thursday will cost motorists billions, because blending gasoline will become considerably more complicated. » read more
Posted on Sat, April 25, 2009
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Fresno superintendent hopes stimulus education funds get to schools
By Michael Doyle | McClatchy Newspapers
WASHINGTON -- Fresno Unified School District Superintendent Michael Hanson worries that Sacramento will peel away education funds provided in a big economic stimulus bill.
He's not alone. Meeting with Education Secretary Arne Duncan and other top White House officials Monday, urban educators fretted about the fate of $100 billion in new school funds. They fear the money may get stuck in cash-strapped state capitals instead of flowing all the way to local school districts."We're very concerned that it actually reach us," Hanson said while standing on the White House driveway. » read more
Posted on Mon, March 16, 2009
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Obama to seek 'every legal avenue' to block AIG bonuses
By Margaret Talev and Kevin G. Hall | McClatchy Newspapers
WASHINGTON — President Obama said Monday that he'll seek "every single legal avenue" to block the payout of $165 million in bonuses to executives of disgraced insurer American International Group, a company that U.S. taxpayers are bailing out.
Obama unleashed his criticism in the White House East Room, eclipsing an event where he announced $15 billion in new help for small businesses hurt by the recession.Before promoting those steps, however, the president went after AIG, blaming its financial woes on executives' "recklessness and greed," and asking, "How do they justify this outrage to the taxpayers who are keeping the company afloat?" » read more
Posted on Mon, March 16, 2009
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Difficult budget decisions — including shutting off fountains — confront KC officials
By Lynn Horsley and Matt Campbell
A shutdown of Kansas City's flowing fountains. A dramatic cutback in Kemper Arena events. A big reduction in international contacts.
Those are just a few of the possible results of Kansas City’s historic budget woes.In fact, some already are planned — the city’s annual Fountain Day has been canceled and, for now at least, officials plan to leave the fountains dry this year. » read more
Posted on Mon, March 16, 2009
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White House slaps down Sanford on stimulus plan
By James Rosen | McClatchy Newspapers
WASHINGTON — White House Budget Director Peter Orszag on Monday rejected South Carolina Gov. Mark Sanford's request to use up to $700 million of his state's economic stimulus funds to pay down state government debt.
Sanford thanked the White House and said he would send the Obama administration another, "more narrowly tailored" request Tuesday to use stimulus money to reduce his state's debt.Sanford also accused President Barack Obama of playing a "game of good cop, bad cop" by allowing the Democratic National Committee to begin Monday airing a TV ad criticizing the governor for opposing the $787 billion stimulus, which the president signed last month. » read more
Posted on Mon, March 16, 2009
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Many people are raising their own food to save
By Barry Schlachter | Fort Worth Star-Telegram
Unfazed by losing her vegetable crop to a freeze last year, Debbie McNeill is more than just gearing up.
The 49-year-old Haslet housewife is upping the stakes, putting down twice as many tomato, onion and jalapeño plants in a 15-by-15-foot raised garden at her mother’s home "because it’s fun and because of the economy."McNeill is not alone. » read more
Posted on Mon, March 16, 2009
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Recent Economics Headlines
- · More people lean toward teaching career in struggling economy
- · Children struggle to cope in recession
- · Gardens are hot in cool economy
- · Companies look to boost workers' morale
- · MBA programs grow as economy shrinks
- · California's state work force grew despite budget issues
- · Larger number of needy Alaskans strains support system
- · Alaska's banks avoid industry woes
- · Coal industry hopes it has place in Obama's energy plan
- · Abandoned neighborhoods pose problems for residents left behind
- · Citizens, illegal immigrants jostle for jobs
- · South Florida cities act to prevent blight in foreclosed homes
- · Kansas credit union's woes will cost the entire industry
- · Bill would help schools, nonprofits teach financial literacy
ECONOMY IN TURMOIL
Read McClatchy coverage of the economic pain Americans around the country are feeling, from Florida to California to Alaska.
ECONOMY QUESTIONS & ANSWERS
McClatchy correspondents Kevin G. Hall (left) and Tony Pugh are available to answer your questions about the economic meltdown at home and abroad, and what's in store for ordinary Americans.
Q&A: THE HOUSING CRISIS
Mark Zandi, the chief economist for Moody's Economy.com, is took questions from McClatchy readers about the nation's deep housing crisis. His book, "Financial Shock," offers a 360-degree look at what caused the crisis, what mistakes were made and who made them. It offers a way forward to prevent future crises.
Q&A: TERMINAL CHAOS
U.S. air travel these days is about as fun as a trip to the dentist. Departure delays are rampant, bags often miss the flight you've caught and rising jet fuel prices have major airlines charging to check a bag. In his new book "Terminal Chaos," George Donohue, a professor and former high-level Federal Aviation Administration official, explains why our system of air travel is broken and what can be done to fix it. Read the responses.
Q&A: THE THREE TRILLION DOLLAR WAR
For two weeks, Nobel Prize-winning economist Joseph Stiglitz and Harvard professor Linda Bilmes, authors of "The Three Trillion Dollar War," fielded questions about the cost of the Iraq war and its impact on the U.S. economy. They're not taking new questions, but they're still posting answers to ones they've already received. Read their responses.
