NJ Topics Economic Growth

capitol

The Cabal That Quietly Took Over the House

For 40 years, the Republican Study Committee has prized ideological purity over partisan loyalty. That mindset now dominates the GOP. 
John Boehner, Eric Cantor

Republican Blueprint for 2014? Scandal, Most of the Time

Republicans are downplaying the need to retool the party, anticipating Obama's second-term struggles.
tea party protest

As Washington Is Scandalized, The Tea Party Salivates

The swirl of Washington scandal offers the movement a kind of “I-told-you-so” bragging rights.
food truck

How Can Conservatives Win Over Young Voters? Go For Their Guts.

It's a lot easier to get young voters to care about government overreach if you're talking about food trucks.
Peter Wehner, Yuval Levin, and James Capretta

Some Republicans Don’t Believe Austerity Is Enough

Strategists and wonks are urging House leaders to refocus their economic message on ideas that the middle class actually care about. 
Chris Christie

The Coming GOP Civil War Over Climate Change

Science, storms, and demographics are starting to change minds among the rank and file. 
Energy Star appliance

Will New Oil Reserves Tempt Americans Back Into Wastefulness?

Recently discovered reserves suggest fossil fuels will last longer than we thought. But the economy won’t grow if Americans don’t use that energy efficiently. 
Max Baucus and Dave Camp

Overhauling the Tax Code With 'Max and Dave'

Max Baucus and Dave Camp, Congress's top tax-writers, are taking their message to the Internet in hopes of building public support for their efforts.
Brandon Singlaterry

Who Says Fiscal Policy Is Hurting the Economy? (Almost) Everyone.

OK, not everyone thinks that the recent spending cuts and tax hikes are slowing the recovery, but plenty of experts say current fiscal policy will slow growth in 2013—by anywhere from 0.3 percent to 2 percent.
internet retailer online sales

What if the Internet Sales Tax Doesn't Make it Through Congress?

Legislation allowing states to collect sales taxes on purchases made over the Internet—approved by the Senate in a 69-27 vote Monday evening—faces an uncertain future in the House.
Obama Jobs Speech in N.C.

Has Washington Given Up on the Economy?

When it comes to jobs, Obama should forget 'permission structures' and go into cheerleading mode.
Mike Froman

What You Need to Know About Obama's Trade Pick Mike Froman

President Obama nominated one of his top national security advisers, Mike Froman, as the next U.S. trade representative on Thursday. Froman would replace Ron Kirk, who stepped down last month.
American dream

The American Dream, Downsized

The middle class now worries more about holding on for dear life than about climbing the ladder to riches. 
Youth unemployment

Millennials Are the Unluckiest Generation

Entering the workforce during a recession puts young people behind from the start. 
Alan S. Blinder, left, and Glenn Hubbard.

Two Completely Different Ways to Deal With the Upward-Mobility Crisis

Top economists from the Clinton and Bush administrations debate how to revive the economy to keep people from getting stuck. 
Aerospace

Five Cool Innovations to Lift Workers Into the Middle Class

From rent-subsidized apartments for single moms to an online medical clinic that saves $88 per diagnosis, American ingenuity works. 
Gene Sperling Speaks on Feb. 4, 2011

Gene Sperling, Top Econ Adviser: 'The Era of Threatening Default Is Over'

Gene Sperling, President Obama’s top economic adviser, sketched out a hopeful scenario on Thursday for the next round of budget negotiations.
Michigan jobs

Being In the Middle Class Means Worrying About Falling Behind

After years of economic turmoil, most families now believe the most valuable—and elusive—possession in American life is economic security.
Julius Genachowski

Committee Will Watch Spectrum Auction Closely

By definition, virtually every wireless technology in use today depends on radio waves. Whether it’s for Wi-Fi, cell-phone calls, or satellite TV, the radio spectrum transports signals from source to destination quickly and efficiently.
Jacob Lew, left, and  Herman Van Rompuy

Obama's Mixed Message on Austerity

His Treasury secretary lectures Europe on the perils of thriftiness while his own budget agenda is driven by cuts. 
Obama Budget

7 Things to Know About Obama's Budget

You’ll see a lot about the aggregate budget size of $3.8 trillion. But here are the things that are really worth knowing.
Budget

The Real Budget Action Won't Come Until Tonight's Dinner With the GOP

Contrary to popular belief, the real budget action on Wednesday won’t begin until the early evening, when 12 Republican senators are scheduled to arrive at the White House for a private dinner with the president.
Unemployment in DC

Has Obama Done Enough for Black Americans?

For many, this is still a land of unequal opportunity. A history-making president may not be enough. 
Job seekers

Sequester Slashes Help for Long-Term Unemployed

The across-the-board cuts are about to reduce the payout of federal emergency unemployment checks by as much as 10.7 percent.
ARRA sign

The One Word You Can't Say in Washington

Democrats agree on the need for stimulus. Just don't call it that.
Reince Priebus

The GOP Disconnect on Economic Policy

The RNC may want to send a few extra copies of the election postmortem to Capitol Hill. Judging by the budget blueprints put forth by congressional Republicans, they didn’t get the memo.
Bernanke

Fed Cautious About Economic Growth

The Federal Reserve slightly downgraded on Wednesday its forecasts for growth in 2013. It now expects gross domestic product to rise between 2.3 percent and 2.8 percent, just a hair less than the 2.3 percent to 3.0 percent it expected in December.
Bill Flores, Scott Garrett

Nondefense Slice of Domestic Spending on Track to Hit 50-Year Low

Both the Senate Democratic and House Republican budgets project funding for things like welfare programs and government operations will reach a 50-year low as a share of economic activity.
Paul Ryan

There's New Hope for a Grand Bargain

Amid the hot air in Washington comes the whiff of compromise.
Pres. Ronald Reagan signs into law a landmark tax overhaul

Can a Pathetic Congress Really Pass Tax Reform?

Despite all odds, some members of Congress still believe. NJ chats with one. 
Sen. Patty Murray

In New Budget, Senate Democrats Offer Alternative Political Vision

For the first time since 2009, Senate Democrats on Wednesday introduced a budget resolution, which promised to stabilize the debt over the next decade and raise new revenue and cut spending in equal parts.
Busboys and Poets

Citizenship Isn't Always Foremost What Undocumented Workers Want

They just want to do their jobs, cash their paychecks, and be left alone. Here's a view of the immigration debate from the kitchen of your favorite restaurant.  
Line at Job Fair

Jobs Market Is Improving, But the Long-Term Unemployed Still Can't Catch a Break

The good news? The nation is adding jobs. The bad news? Those who have been out of work the longest still can't seem to get them.
Busboys and Poets

What Undocumented Workers Really Want

It's not always citizenship. They just want to do their jobs, cash their paychecks, and be left alone. A view of the immigration debate from the kitchen of your favorite restaurant.
China's smog problem

How Dirty, Polluted China Takes Climate Change More Seriously Than We Do

People may not be able to breathe in Beijing, but its politicians are doing more than U.S. lawmakers are to slow global warming.
Gina McCarthy

Republicans Take Aim at Obama’s EPA Nominee

President Obama’s nomination Monday of Gina McCarthy to lead the Environmental Protection Agency sets up the next high-profile clash between the White House and congressional Republicans over the incendiary issue of climate change.
Tobacco Workers

Opinion: Immigrants Did Not Take Your Job

Writes Alex Nowrasteh of the Cato Institute: It's time  conservatives embrace a reform measure, for political and economic reasons.
Bernanke

Does Ben Bernanke Care Too Much About Jobs?

Critics say the Fed chair has tried so hard to get Americans back to work that he may cause another financial crisis.
Border

Furloughs Come to Main Street

Automatic spending cuts will affect federal workers wherever they live—even thousands of miles from Washington.

Video: Inside This Week's Cover Story

In this week's cover story, National Journal's Catherine Hollander and Caren Bohan discuss Ben Bernanke's job creation role at the Fed.
Money Roll

Sequester's Economic Impact Will Build Slowly

The inopportune moment of sequestration — hitting just as the economy shows bright spots — will create a drag on the economy in a slow-motion manner.
Obama

Congress and Obama Assign Blame as Sequester Deadline Approaches

Just four days remain until Friday’s start date for federal spending cuts that were supposed to be too painful to ever let happen, but lawmakers return to Washington on Monday with little hope for an eleventh-hour deal to avert or reshape them—or any let-up in the fighting over who is to blame.
Obama on Sequester

What Unites Obama's Coalition — and What Could Divide It

One conclusion that jumps from the Pew Research Center/USA Today national survey released Thursday is that the coalition that reelected President Obama last fall remains in step behind him — and is largely unified behind the key elements of his increasingly aggressive second-term agenda. But the poll also suggests that failure to generate more-rapid economic recovery could nonetheless strain the powerful coalition Obama has assembled.
Obama on Sequester

You May Be Right, Mr. President, But This Is Crazy

As the nation's chief executive, Obama is ultimately accountable for the budget fiasco, even if he is right on the merits and politics.
U.S. Sen. Tom Udall, D-N.M.

'Most Liberal' Label Probably Won't Hurt Sen. Tom Udall

With New Mexico voters shifting to the left, his 90.7 percent composite liberal score for 2012 will likely have little effect on his reelection bid next year.
Protesters Disrupt Politico Tax Breakfast

Protesters Disrupt Deficit-Reduction Breakfast

At least five protesters interrupted a Politico breakfast on deficit reduction Tuesday morning, demanding tax and employment equity.
anti-nuclear power rally

Why Japan Can't Quit Nuclear Power

Since the Fukushima meltdown, the country has tried to reduce its reliance on nuclear reactors. But with nearly a third of its energy needs powered by the atom, change is difficult.
John Boehner

John Boehner Talks Foreplay and Immigration Reform

Speaker waxes about everything from ‘foreplay’ and immigration to poker games and the sequester.
Obama 2011 SOTU

5 Things Obama Tried to Say During His State of the Union Address -- But Didn't

Some words missing from tonight's State of the Union address: Iraq. Famine. Sudan. Moon. Mars. Assault rifles. Keystone XL. Videogames. Clinton. Fracking.
Obama State of the Union 2012

Missed Opportunity? Obama May Avoid Spending-Cut Debate in Speech

When President Obama takes to the podium Tuesday night for the State of the Union, he’s expected to give scant attention to one of the most pressing issues facing Washington: the upcoming $85 billion in spending cuts.
Paul Ryan

The Math Behind the GOP Goal of Balancing the Budget in 10 Years

The plan spearheaded by Paul Ryan could prove to be an ingenious move for his party — or a disaster.

Topping Insiders' Priority Lists: Immigration, Jobs, and Deficit Reduction

Plus: Political Insiders speculate on which party will be blamed if the sequester takes effect.
Nemo

The Scary Truth About How Much Climate Change is Costing You

While policymakers fiddle, the threat of economic harm posed by rising sea levels, devastating storms, and drought is growing every day.
Obama

How Republicans Came to Love Automatic Spending Cuts

Congressional Republicans work to prove they are tough enough to take the sequester.

Economy Could Take Big Hit From Lapse of Payroll-Tax Cut

The recent payroll-tax hike could play a major role in slowing down consumer spending this quarter.

Insiders Diagnose the GOP's Woes

There was no shortage of opinions among National Journal's Political Insiders about what was ailing the Republican Party after losses in last year's elections, although Insiders of different stripes tended to have different takes. Six out of ten Democratic Insiders pegged "policy prescriptions" as the area in need of the most improvement, while Republican Insiders were far more divided, with messaging, the need for more charismatic leaders and better policy prescriptions all popular answers. Which one of the following would you say is the area in which the Republican Party needs the most improvement?   Democrats (106 votes) Republicans (90 votes) Message 21% 33% Charismatic leaders 1% 23% Policy prescriptions 57% 21% Better campaign technology 2% 6% Other 20% 17%

You Can Thank the Health Care Industry for the Economic Recovery

Happy about the country’s shrinking unemployment rate? You have the health care industry to thank.

One Way to Boost Jobs? Patents. Here Are 5 Cities With the Most Per Person

The top cities with the most patents per capita are not the ones you'd expect.
Edwin Meese

'The Most Lawless Administration in Recent History'

Reagan administration Attorney General Edwin Meese discusses Obama's White House and the conservative legal movement.

Early Data Says the Economy Contracted at the End of Last Year. Don't Panic Yet.

The economy unexpectedly contracted in the last three months of 2012, according to early data released by the Commerce Department on Wednesday.
Immigrants

Who Are the 11 Million Undocumented Immigrants?

With the announcement of bipartisan legislation that would allow a pathway to citizenship for undocumented residents, the number 11 million becomes important. That's the most commonly cited estimate of the number of illegal residents in the country. But where does this number come from?
Immigrants

There Are 11 Million Undocumented Immigrants. So Who Are They?

The population is more than just a number. Here's what we know about them.
Harry Reid

Senate Dems Likely to Pass GOP Debt Limit Fix

Senate Democrats think a Republican move to suspend the debt limit, instead of increasing it, kills GOP leverage in the next fiscal fight. So they'll sign on.  

Full Text of President Barack Obama's Second Inaugural Address

President Obama's speech given on January 21, 2013, at the U.S. Capitol.
Steven Chu

The Education of Steven Chu

The Nobel physicist was brought in to transform the energy economy, but faced political battles.
Jerry Brown

Iconoclastic Jerry Brown Goes Back to Square One

The California governor is responding to demands for more government by preaching an “era of limits.”

Federal Workers Union Blasts GOP Pay-Freeze Effort

The largest federal employees union is lashing out at a House Republican plan to again vote to block President Obama’s proposed across-the-board pay increase for federal workers in 2013--and billing it as a way to help rein in Washington spending.
Obama

Expect Obama to Be More Aggressive in His Second Term

Obama's forceful moves on controversial fronts represent a calculated gamble that the evolution of the U.S. electorate has reached a critical tipping point. 
Wall Street

Is Jack Lew A Friend to Wall Street?

Like Tim Geithner, the new Treasury nominee may owe his views to Robert Rubin. So don't expect him to pursue much in the way of bank reform.
Economy

Why the Economy Won't Blast Off Anytime Soon

This is not the surging economic recovery we were hoping for.
Biden Fiscal Cliff

Biden May Be the Most Influential Vice President Ever

But in a sign of just how important a figure the vice president has become in Washington, Biden’s absence until now has been one reason that Republicans doubted Obama’s seriousness about cutting a deal, my colleague Chris Frates reported last week.
White House

America's Greatest Economic Weakness in 2012 Was Its Government

Barack Obama said it himself in his first post-election press conference. Speaking at the White House on November 14, Obama said conversations with families, workers and small business owners along the campaign trail had left him convinced that average Americans deserved more from Washington.
Wall Street

Wall Street and Financial Markets Await Smoke Signals From the Hill

The New York financial world sits just a four-hour train ride from Washington, yet the distance has seemed much longer in the last few weeks as politicians have parried over the fast-approaching fiscal cliff: that noxious mix of tax hikes and spending cuts scheduled to take effect in the New Year.

What Obama is Going to Say on Meet The Press

On a decisive day in the fiscal cliff talk, President Obama used his appearance on NBC's Meet the Press to remind Republicans that he'll use all the pulpits at his disposal to bully them into accepting a deal and, failing that, blame them for sending the nation over the cliff. 
Sun on the capitol dome

The Bright Side of Falling Off the Fiscal Cliff

As 2012 sputters to a close, it wraps up with a yawning gap between widespread economic pessimism and the actual state of economic affairs.
Earth at Night

What to Expect From the Global Economy in 2013

Economic experts take a look at the prospects for the global economy in 2013.
Wall Street

Wall Street to D.C.: Get Serious About the Fiscal Cliff

The New York financial world is all about the bottom line. So it can't quite fathom a dysfunctional Washington that's all about finger-pointing.      
White House

Cliff Diving Would Pose Dangers For Obama's 2nd-Term Agenda

If Washington plunges off the fiscal cliff on New Year’s Day, President Obama will have a strong hand to play in the fight over expiring tax cuts and automatic spending reductions set to hit the economy, but a drawn-out standoff could also wreak havoc on his ability to tackle big second-term agenda items such as tax reform, immigration and gun control.

Lisa Jackson Stepping Down as EPA Head

Environmental Protection Agency Administrator Lisa Jackson will be stepping down after President Obama’s State of the Union address in January. Jackson, the first black head of the EPA and the fourth woman to hold the job, has spent much of her tenure at the center of the energy and environment debate in Washington and was often criticized for the agency’s controversial Clean Air Act regulations. The EPA during her tenure has undertaken several significant regulatory actions, including setting new standards to clean up mercury and other toxic emissions from coal power plants, establishing new fuel economy and greenhouse gas standards for motor vehicles and setting new standards to limit fine particle soot in the air. The EPA also reversed course from the Bush administration's policies and declared that climate change posed a real threat to the environment. Critics have accused the EPA of overreach and of putting in place “job-killing” regulations at a time of economic weakness. In the last year, Jackson and her colleagues have been grilled by congressional committees on the agency’s environmental rules and their effects on energy industries and economic recovery. The GOP-led House has passed laws trying to block or delay EPA regulations. Jackson, 50, was born in Pennsylvania, but grew up in New Orleans. She spent 16 years at the EPA and six years at the New Jersey Department of Environmental Protection prior to becoming EPA administrator.

Exodus of Baucus Staff

The Chairman of Senate Finance is losing his top tax people from both his personal and committee staff, expertise that will hurt if the committee plunges ahead with tax reform in 2013.
Lighthouse

The People, Not Washington, Will Solve America's Everyday Problems

Beyond the fiscal cliff, entitlement reform, and a tax overhaul, a host of other issues continue to vex Americans. They include burgeoning traffic, the shrinking pool of affordable housing, escalating gun violence, and the rising invasion of online privacy.
Kids playing in open fire hydrant

Weather or Not

An extremely hot summer, like this one, isn’t as disruptive to the economy as a very cold winter.
Morton Genser poses with his prescription drugs

First Robin of Spring?

Something weird is happening. Medicare is growing much more slowly than anyone expected, and nobody knows why.

POLITICS - As Bush Does Balancing Act, His Ratings Keep Slipping

As war with Iraq increasingly appears inevit-
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