American Morning
Movie Buff Seeks Bailout
CNN’s Kareen Wynter recently filed a report on how the movie business is one of the few industries whose bottom line has actually improved despite the struggling economy. You can check it out here.
The movie studios may be thriving, but their success is taking a heavy toll on the wallets of movie buffs everywhere, and I’m one of them. According to the National Association of Theater Owners, the current average movie ticket price is $7.20. When you hear that number, it’s easy to understand why a night at the movies might seem like an economically sensible form of entertainment in these tough economic times.
An SUV is home for jobless duo
[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/images/03/26/art_homeless_pair.jpg caption="Richard Barboza, left, and John Nilsen are among those struggling in the current economic recession."]
By John Zarrella
FORT LAUDERDALE, Florida (CNN) - Richard Barboza sits behind the steering wheel, patiently working a crossword puzzle. There's no rush. Time is one thing Barboza has plenty of.
It's just after sun-up. The streaks of light shimmer off the car windows. In the back of the Ford Explorer John Nilsen stirs. This is home. Clothes are kept in a suitcase. Food is wherever they can find it.
"It's definitely not something that you ever see yourself being, homeless," Nilsen says.
But homeless they have been for the past six weeks, ever since the money ran out and they were evicted from the Fort Lauderdale, Florida, apartment they shared. Nilsen had lost his job, and Barboza is waiting for disability checks to start arriving.
The line of homeless men and women has already started to form at the food bank when the two men walk up. The faces are always the same, with a few more added every day.
Regret saving money?
We've all heard about buyer's remorse. It's happened to all of us.
But there is something new emerging in this new tough economy – "saver's remorse."
It does exist... And take note – it can be harmful to your health.
Thompson: I want some of Obama's policies to fail
The President came into last night's news conference with the specific point that his giant budget plan is vital to fixing the economy.
And to his Republican critics he said, "Got any better ideas?"
Former GOP Presidential Candidate Fred Thompson joined us live with his reaction.
Is Thompson right in wanting some of President Obama's policies to fail? Tell us what you think.
Bring on the budget!
We survived the TARP debate. Then the stimulus fight. Bring on the budget!
The political wrangling over the president's $3.6 trillion budget is set to explode this week on the Hill. The president is pitching the budget as an investment initiative, not a bunch of typical big government spending. He says investments in energy, healthcare, and education will seed a recovery and grow a more efficient economy. All the while, he promises, with an eye firmly on fiscal responsibility. He pledges to cut the budget deficit in half by 2013.
It'll be tough. His growth assumptions are slightly more optimistic than some economists. I asked noted economist (and AM regular) Jeff Sachs this morning about the president's statement in his press conference, that his budget's assumptions are "consistent with what blue-chip forecasters are saying."
"That's just wrong," Sachs said. Sachs and many others worry that a recovery when it comes will be weak. A UCLA Anderson School of Management survey released this morning is more pessimistic than the White House assumptions on unemployment (UCLA forecasts unemployment will hit 10.5% in the middle of 2010 and will still be above 9% in 2011, even as a recovery takes hold.)
Small business owners make big sacrifices
While some of Wall Street's richest are getting paid handsomely for their failures – many small business owners are making huge sacrifices – cutting their own salaries so they can keep others on the payroll.
What sacrifices are you making during this current economy? Share your story.
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