American Morning
Are we headed for a double-dip recession? Jeffrey Sachs explains
The United States is still the best place in the world to prosper. But in recent years things have gotten tougher for the average American. Sky-high unemployment, a collpased housing market, and stagnating wages have hit the middle class hard. And the government is struggling to respond to these challenges.
Jeffrey Sachs, director of the Earth Institute and author of "The Price of Civilization," sat down with Christine Romans to asses the state of America's middle class and the possibility of a double-dip recession.
Is the double-dip recession finally here?
The term 'double dip recession' is something that has been thrown around for years, but is it possible that the U.S. is finally falling back into a new recession?
The evidence is continuing to mount that we are indeed headed towards a double-dip recession. The economy is barely growing, companies aren't hiring, there's a debt crisis in the U.S. and in Europe, and companies are continuing to stockpile cash.
This morning on American Morning, Economic Cycle Research Institute's Lakshman Achuthan explains what indicators say, and why they show we might already be in a recession.
House Speaker John Boehner unveils his own jobs plan – but will it work? Earth Institute's Jeffrey Sachs weighs in
With criticism mounting against Obama's "American Jobs Act," Speaker of the House John Boehner unveiled his own jobs plan yesterday dubbed "Liberating America's Economy" in an early afternoon speech to the Economic Club of Washington.
Much of Boehner's contention with Obama's plan focused on regulation and he told listeners that we need to "remove these barriers and liberate our economy."
Today on American Morning, Jeffrey Sachs, director of the Earth Institute at Columbia University, speaks with Christine Romans about Boehner's plan and weighs in as to whether or not it is a viable solution to the unemployment situation.
AOL's Founder, Steve Case, talks getting Americans back to work
The jobless numbers in America are discouraging, with 9% out of work. So how do we get the out-of-work back to work?
AOL's Founder Steve Case, now the Chairman of Startup America Partnership, is participating in The Economist magazine's second annual Ideas Economy: Human Potential Conference. The conference looks at the future of jobs and at leadership development. Case talks to American Morning about how to get Americans working again.
WH economic adviser: Obama's plan will provide long-term confidence, short-term momentum to economy
NEW YORK (CNNMoney) - President Obama unveiled a stimulus plan Thursday night that he says will boost hiring and provide a jolt to the stalled economy if it becomes law. A mix of $253 billion in tax cuts and $194 billion in new spending, the total bill
for the plan is $447 billion. Given staunch Republican opposition to most new spending, the measure has almost no chance of passing the House in its current form.
But select parts of the bill could become law, and provide a measure of support for an economy at risk of falling into another recession. The question this morning: Can it work and will Congress pass it?
This morning on American Morning, Christine Romans talks with Gene Sperling, director of the National Economic Council and assistant to the President for economic policy. She asks him what it will take for Congress to pass the bill, and whether it will provide the kind of stimulus to get the economy moving.
WH Press Secretary: Obama's 'American Jobs Act' will be ready for Congress next week
This morning, Democratic sources tell CNN that President Obama's jobs plan, to be revealed in a speech tonight, could end up topping $400 billion dollars and include a lot of infrastructure spending and targeted tax cuts.
On American Morning today, Christine Romans asks White House Press Secretary Jay Carney about what we can expect to hear from President Obama this evening.
"It does have a name - The American Jobs Act," Carney says. "The President will announce tonight that he intends to submit legislation to Congress early next week which will contain all of his proposals, as well as a provision to pay for all of his proposals."
"Congress should act right away and get it done," Carney adds.
Carney goes on to explain the plan will have some ideas that have been discussed in the past, and some new ideas that have not been put forward before. The plan will include infrastructure spending, community assistance to rebuild schools and a variety of reforms aimed at stimulating the economy.
The speech comes during a time of continued high unemployment and stagnating national growth. Romans asked Carney about a recurrent Republican criticism – that the last time President Obama argued for spending to create jobs with the stimulus plan, it didn't work.
"There is a broad bipartisan consensus in America of the kinds of actions the President will propose," Carney responds. "What we hope to hear from Congress is a will necessary to act now."
You can watch the entire interview here.
Watch President Obama's speech live and CNN's special coverage starting at 6pm Eastern.
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