"By 2008, the United States had become the biggest international borrower in world history, with two-thirds of its $6 trillion federal debt in foreign hands" points out Jeffry Frieden, co-author of a new book called Lost Decades: The Making of America's Debt Crisis. International borrowing has been a long-standing economic tradition -- we even funded the American Revolution this way. But, Frieden points out, more recent borrowing is massive compared to the past and encouraged debt-fueled consumption rather than sound investments.
Recently, we told you about a gas station in the border town of Methuen, Massachusetts. According to Massachusetts State Lottery Executive Director Paul Sternburg, it’s on track to do $13 million this year in lottery revenues. When we spoke with Ted’s Mobil owner Tony Amico, he estimated at least half his customers are from New Hampshire. And StateImpact’s unscientific survey of license plates in the gas station parking lot bore t
The Bi-Partisan Congressional Super-committee failed last week to reach a deficit reduction agreement. That means automatic spending cuts kick in, in twenty thirteen…and President Obama says he’ll veto any attempt avoid those. We talk with two economists about what this all means…and about the rocky political and economic roads ahead.
The Regional Greenhouse Gas Initiative faces an uncertain future in some states. New Jersey plans to end its participation and New Hampshire has considered legislation that would do the same.
But a new analysis shows the carbon dioxide cap and trade program has saved consumers money and created jobs. Under the program, power producers buy pollution allowances at auction for each ton of carbon dioxide they emit.
You've seen bumper stickers: shop local, eat local... now, a grassroots call to invest local. And like any good movement, it utilizes a catchy word-combo. Joining us to talk about it is Amy Cortese, author of Locavesting: The Revolution in Local Investing and How to Profit it.
The other drug war South of the Border. An investigative reporter uncaps Big Pharma's secretive drug trials in South America. And researchers uncover the strange paradox of why Americans want to give their money to those with more, not less. A