On CNN's American Morning today, business correspondent Christine Romans explained to anchor Kiran Chetry why there are new estimates showing the Federal deficit to be much worse than originally projected by the Obama administration:
ROMANS: Why? OK, this is really -- it's a complicated problem with a very simple analysis. It's how much money the government is taking in and how much money is going out.
Let's look at how much is going out. Government spending has skyrocketed as you all know over the past couple of years, up 21 percent in the first ten months of this year. Unemployment benefits, health care, bailout programs. We are spending more money than we take in. We are spending gobs of money constantly on lots of different programs to try to get this economy out of the mess it's in. At the same time, revenue is plunging.
The money that's coming in to the Treasury Department is plunging down 17 months in the first ten months, or 17 percent, rather, in the first ten months, declining income and peril taxes. People are out of work. We're not making as much money.
ROMANS: That's going down. Non-wage income. All other kinds of income people have down sharply. And then that stimulus tax credit -- that has to come from somewhere. Right? Everyone is getting this big tax break, that means less money going in.
Kyra Phillips of ‘Newsroom’ and Christine Romans discuss ‘discouraging’ lack of women in Obama’s cabinet, job package that ‘favors’ men.
Liberal feminists claim that President Obama’s administration will not have enough female representation and that the job creation part of his stimulus plan will favor men.
But on CNN’s Newsroom, lack of the feminist perspective certainly wasn’t an issue Jan. 23. In fact, it was the only voice viewers heard.
Newsroom host Kyra Phillips introduced Christine Romans’ estrogen-dominated segment which included feminists complaining about Obama. Romans mentioned that six cabinet positions out of 21 have gone to women, yet liberal feminist groups like National Organization for Women (NOW) and The New Agenda were “disappointed.”
Thursday's edition of CNN's "American Morning" featured a "fact checking" segment on the claims former President Bill Clinton made about his accomplishments as president during his speech to the Democratic National Convention. The segment wasn't much of a "fact check" as CNN Business Correspondent Christine Romans mostly reminisced about the "glory days" of the '90's. But what she did find was that the worst part of Clinton's presidency was one of his more conservative actions: "He also signed into law a historic deregulation of the financial system,dismantling laws from the Great Depression that many say would have protected us against the current mortgage crisis."
Other problems the correspondent found with Clinton's presidency include: "the go-go days of the '90s also gave us the dotcom boom. And when that went bust, Allan Greenspan and the Federal Reserve lowered the interest rates to ease the pain. Dropping them so low, many now see the roots of the current housing mess way back in the dotcom boom. Plus, the '90s gave us this obsession with record home ownership with Clinton as a principal cheerleader."
“This – Nord, is she as imbecilic as she appears to be as absolutely insensitive to American consumers, as absolutely lacking the judgment to run a federal agency designed and created to protect the American consumer?” Dobbs asked. “I mean this woman is beyond belief.”