Tag Archives: congress

Fueling confusion

The government’s Cash for Clunkers plan has dominated headlines this week – working so well in some places that dealerships have run out of cars.

Nightly Business Report’s Xchange blog details how the program is working so far, and which members of Congress are voicing their support to extend it.

“Today, Senators Diane Feinstein (D-California) and Susan Collins (R-Maine) announced their support for extending the program. Despite earlier concerns, they are happy with how consumers are using the program, particularly the increase in the number of fuel efficient vehicles purchased.”

But some senators are skeptical, Capitol News Connection reports:

Sen. Claire McCaskill (D-MO) said she worries any new spending will further burden taxpayers.

“Most of the folks who are buying cars with this program would have probably bought a car. Maybe not today or tomorrow or next week, but probably in the next 18 months,” McCaskill said. “What does that say for demand next year, when this recovery needs to be sustained? Aren’t we just robbing Peter to pay Paul?”

KCRW’s “Which Way LA” spoke with California car dealers who are hoping Cash for Clunkers funding continues.

And for a car-related (and gas-saving) fun fact of the day, NewsHour’s Paul Solman finds out why different makes of cars have the fuel doors on different sides.

Economic Naturalist author Robert Frank explains:

“Putting fuel filler doors on different sides of different cars thus means that some cars can access pumps from the left. And this makes it less likely that drivers will have to wait in line for gas. That benefit greatly outweighs the cost of occasionally pulling up to the wrong side of the pump in a rental car.”

Putting lawmakers (and readers!) to the test

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If you’re confused about what’s going on with the economy, you’re not alone. It’s scary to think about the huge amount of information out there and hard to get a handle on what’s really important. And Capitol Hill isn’t faring much better.

While Congressional staffers and aides pore over documents for representatives daily, many legislators are still unclear on some basic financial concepts. Does Rep. Marsha Blackburn (R-TN) know what a derivative is? How much influence do lobbyists have over finance issues? Capitol News Connection turned the tables on Congress to see how much lawmakers really understand about the economy, and whether learning these concepts on the fly is sufficient for making decisions that can impact all of us.

Putting lawmakers to the test isn’t a new idea, but it is one that can inspire action. Nonprofit group WhyTuesday.org spent most of 2008 asking American leaders why we go to the polls on Tuesday. Not surprisingly, more than a few legislators were in the dark.

For the answer, watch:

To test your knowledge of the economy, the Federal Reserve of Boston has an in-depth series of quizzes. The topics range from women and the economy (During which year did the labor force participation rate of women peak?) to social security (How many years must a person have worked to qualify for social security benefits? ) to immigration (In the United States, what is the state with the highest share of Hispanic population?).

Stalled out

This morning, Wall Street was buzzing after President Obama’s pick to lead the auto industry out of turmoil resigned. With the automakers still under siege, how are transportation initiatives faring? This NewsHour timeline traces the troubles of the big three automakers.

Looking across the pond at public transport, Paul Solman figures out the London Tube’s logic behind charging more for single-ride tickets than the refillable “Oyster” cards. Can their profit-generating plan be implemented in other cities?

Here in the U.S., greater concerns about health care and the economy are putting transportation infrastructure initiatives on hold, Tom McNamara writes on PBS’s Blueprint America blog.

How should Congress prioritize transportation? Share your questions at Ask Your Lawmaker.