Scott Horsley

Obama Begins European Trip: G-8 Summit Then Stop In Berlin

Scott Horsley — Mon, 17 Jun 2013 07:26:00 +0000

President Obama is in Northern Ireland Monday — the first stop on a three-day European visit that includes a G-8 summit meeting and a side trip to Berlin.

The president begins his tour with a speech in Belfast, celebrating Northern Ireland's peace process and urging young people in the country to keep it moving forward.

Later, Obama joins leaders of other industrial countries at a remote golf resort in County Fermanagh for talks on Syria, trade and the global economy.

The G-8 leaders have a working dinner Monday night, and Syria is likely to dominate the discussion.

How Rock 'N' Roll Can Explain The U.S. Economy

Scott Horsley — Sat, 15 Jun 2013 09:24:00 +0000

White House economic adviser Alan Krueger took some ribbing from his boss this week. President Obama noted that Krueger will soon be leaving Washington to go back to his old job, teaching economics at Princeton.

"And now that Alan has some free time, he can return to another burning passion of his: 'Rockanomics,' the economics of rock and roll," the president said.

The Federal Deficit Is Actually Shrinking

Scott Horsley — Wed, 01 May 2013 20:37:00 +0000

During the housing bust, taxpayers were forced to bail out mortgage giants Fannie Mae and Freddie Mac. But thanks to the real estate recovery, Fannie Mae could end up paying tens of billions of dollars back to the Treasury this summer.

That's just one of the factors behind a better bottom line for the federal government.

Online Retailers Take Opposite Sides On Sales Tax Bill

Scott Horsley — Tue, 23 Apr 2013 20:42:00 +0000

More online retailers would have to collect sales tax under a bill making its way through the U.S. Senate this week. The measure won strong bipartisan backing on a procedural vote Monday, and President Obama has said he would sign it.

The political battle over the bill pits online retailers against brick-and-mortar stores — and, in some cases, against other online sellers.

Nancy Mashragi of Clearwater, Fla., backed in to online retailing.

Obama, Republicans Agree On Tax Loopholes, But Little Else

Scott Horsley — Sat, 13 Apr 2013 09:10:00 +0000

President Obama's newly released tax return shows his effective income tax rate was 18.4 percent last year. He'll likely pay a somewhat higher rate in 2013, and that tax bill would be even bigger if Congress were to adopt the recommendations in the president's own budget, unveiled this week.

The president signed his tax return last Monday, just one week before the deadline, and he's in good company.

Outrage Alone Won't Advance Gun Control Measures

Scott Horsley — Wed, 03 Apr 2013 08:34:00 +0000

President Obama is trying to regain some traction for federal gun control measures by visiting states that are moving forward on their own.

On Wednesday, the president speaks in Colorado, where lawmakers recently passed a series of bills requiring background checks for all gun purchases and limiting the size of ammunition magazines.

Obama would like to see similar measures adopted nationwide.

Obama Looks For A Spring Thaw With Congress To Start Melting Deficit

Scott Horsley — Thu, 07 Mar 2013 08:05:00 +0000

President Obama is hoping for a spring thaw in White House-congressional relations.

The president had dinner Wednesday night with a small group of Republican lawmakers. He's also planning rare visits to Capitol Hill next week to discuss his agenda with both Democrats and Republicans.

Aides say Obama is trying to locate what he calls a "caucus of common sense" in Congress to tackle the country's long-term budget challenges.

With across-the-board spending cuts now on autopilot, there's a momentary lull in Washington's budget brinksmanship.

President Obama To Nominate New EPA, Budget And Energy Heads

Scott Horsley — Mon, 04 Mar 2013 11:02:00 +0000

President Obama plans to announce three Cabinet-level nominations Monday, including a new administrator for the Environmental Protection Agency, who could be on the hot seat in the looming battle over global warming.

Gina McCarthy, currently an assistant administrator in the wing of the EPA that regulates air pollution, is the president's pick to head the EPA.

Obama will also tap the director of MIT's Energy Initiative, Ernest Moniz, as his new energy secretary, and the president of the Walmart Foundation, Sylvia Mathews Burwell, to head the Office of Management and Budget.

The nominatio

What's The Sequester? And How Did We Get Here?

Scott Horsley — Fri, 22 Feb 2013 23:06:00 +0000

They've been everywhere this week: dire warnings about threats posed by across-the-board federal spending cuts.

Unless Congress acts, the cuts are due to take effect a week from Friday. The administration is trying to drive home the ways that could affect you.

For example, Transportation Secretary Ray LaHood warned Friday that air traffic controllers will have to take unpaid days off beginning in April.

Defense Cuts May No Longer Be Political Sacred Cow

Scott Horsley — Thu, 21 Feb 2013 08:06:00 +0000

Defense Secretary Leon Panetta has warned that the automatic spending cuts due to hit the Pentagon and other branches of government next week will damage U.S. national security.

In a letter to Congress, he said those cuts would put the military on a path toward a "hollow force." But the warnings don't appear to be moving the needle with lawmakers or the American public.

The automatic spending cuts don't officially take effect until March 1, but they are already being felt.