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NEWS
September 23, 2011 | By Alan J. Heavens, Inquirer Real Estate Writer
Question: My parents have lived in their house for 48 years. The house is about 54 years old. They have always used good-quality paint. About three years ago the ceiling began to peel. When a representative from the paint company came to inspect the situation he said it was the plaster on the ceiling and not the paint. They have delayed painting because the ceilings continue to peel. What might be the cause and what do you suggest they do? Seems like too long a time for this to happen.
NEWS
August 5, 2011 | By Lolita C. Baldor and Donna Cassata, Associated Press
WASHINGTON - The Pentagon got nearly everything it asked for during a decade of two wars shadowed by the Sept. 11 attacks and the rise of al-Qaeda. No more. It's a reality that new Defense Secretary Leon E. Panetta acknowledged Thursday, saying he "recognizes the Department of Defense has to do its part" to meet the public clamor for spending cuts. The debt deal that President Obama and congressional leaders struck this week will slice $350 billion from projected military and related spending over the next 10 years, and allows the possibility of up to $500 billion in additional reductions.
NEWS
August 5, 2011
I USUALLY don't choke on my breakfast. But one morning this week, enjoying a creme donut and a full-fat latte, I came close to needing the Heimlich maneuver. It happened when one of those overly perky TV ladies opined that the city's flash-mob problem was directly connected to cuts in social services for at-risk teens. I've actually been very good during the debt-ceiling debates. Despite a slight but ever-increasing rise in my blood pressure over the last few weeks, I've been able to tune out most of the "tea partiers are terrorists" rhetoric and keep my eye on the fiscal prize: no default, no new taxes, limited but crucial cuts in spending.
BUSINESS
August 4, 2011 | By Mark Jewell, Associated Press
BOSTON - What relief rally? Hope that the stock market would surge on news of Washington's debt-ceiling deal has given way to pessimism. Increasingly defensive-minded investors are adapting to the reality that the economic recovery is stalling, if not ending. Stocks rose slightly Wednesday - the three major indexes each rose a fraction of a percentage point - to snap an eight-day string of declines that had sent prices down nearly 7 percent. The stumble over the last two weeks complicates matters for investors who recently pulled money from the market, fearing a government default was a strong possibility.
NEWS
August 2, 2011 | By David Lightman and William Douglas, McClatchy Newspapers
WASHINGTON - After weeks of high-stakes drama that put the nation's economy at risk while Americans and the rest of the world watched in dismay, the House on Monday passed a deal, 269-161, that would raise the nation's debt ceiling immediately and reduce federal budget deficits by trillions of dollars over the next decade. Adding more drama to the proceedings, Rep. Gabrielle Giffords (D., Ariz.) returned to Congress on Monday for the first time since she was critically wounded in a January shooting spree in her district, and voted in favor of the debt-ceiling accord.
NEWS
July 28, 2011 | BY NATALIE POMPILIO, pompiln@phillynews.com 215-854-2595
THE WRANGLING in Washington over raising the nation's debt ceiling was getting heated. The president supported the increase. Certain members of Congress were resisting the change. It was the 1980s. Then the 1990s. And here we are again. Every few years, it seems, the question of raising the federal borrowing level becomes an issue. But this time, the divide seems even more extreme. The possibility that the current $14.3 trillion debt ceiling won't be increased - and the country won't be able to pay all its bills come next week - seems even more possible.
NEWS
July 27, 2011
THE VOLUME of calls to the House of Representatives yesterday was so heavy they jammed the congressional switchboard - evidence that Americans responded to President Obama's plea Monday night. The president asked Americans to tell Congress to "compromise" and stop the suicidal "three- ring circus" that risks economic catastrophe over what in the past has been a routine vote by Congress to raise the debt ceiling. How routine? During the Bush administration, Republicans voted to raise it four times for a total of $4 trillion.
NEWS
July 26, 2011 | By Tom Infield and Joshua Adam Hicks, INQUIRER STAFF WRITERS
Congressional offices in the Philadelphia region were swamped with phone calls and emails Tuesday as voters lashed out in frustration at Washington's failure to resolve the debt-ceiling crisis. It was the same all over the country following the televised speech by President Obama Monday night in which he urged Americans to call their representatives to urge them to make a deal - any reasonable deal - to end the stalemate before an Aug. 2 deadline that could throw the nation into financial crisis.
NEWS
July 25, 2011 | By Charles Krauthammer
The debt ceiling looms. Confusion reigns. Schemes abound. We are deep in a hole with, as of now, only three ways out: the McConnell plan, the G6 plan, and the half-trillion plan. The McConnell essentially punts the issue until after Election Day 2012 - a good last resort if nothing else works. The G6, proposed by the bipartisan Gang of Six senators, reduces 10-year debt by roughly $4 trillion. It has some advantages, even larger flaws. The half-trillion raises the debt ceiling by that amount in return for an equal amount of spending cuts.
NEWS
July 19, 2011 | By David Pitt, ASSOCIATED PRESS
DES MOINES, Iowa - They have one eye on Washington and the other on Wall Street. Investors are paying close attention because the contentious debate in Congress could have very serious implications for their 401(k) accounts. There's no doubt much is as stake for retirement savers. All told, they have more than $3 trillion invested in 401(k) plans. So far investors haven't made significant shifts within their accounts. The Vanguard Group, a leading 401(k) provider, says that there hasn't been a notable rise if the volume of client calls or visits to its website.
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