Money in a Minute: Headlines for Feb. 15, 2011
In today's roundup, Obama's budget doesn't cut as deep as Republicans want, but it does cut some weirdly obscure programs. Also: Money for the BP oil spill victims isn't flowing, China's economy is still growing, and unmarried couples are signing pre-nups.
GOVERNMENT: Republicans in congress reject Obama budget, seek cuts
President Obama has proposed a $3.7 trillion federal budget for next year, which would reduce deficits by $1.1 trillion over a decade. But Republican House Speaker John Boehner replied the president’s plan “will destroy jobs by spending too much, taxing too much and borrowing too much.”
BUDGET CUTS: Obama’s wackiest budget cuts
In related news, CNN looked at what Obama actually wants to cut – and found oddball programs like “McGovern-Dole micronutrient grant” ($12 million) and the “B.J. Stupak Olympic Scholarship” ($1 million).
BP OIL SPILL: AP Enterprise: Gulf claims process under fire
An investigation by the Associated Press reveals that despite BP’s promised $20 billion to compensate Gulf victims. “Tens of thousands of fishermen, oyster shuckers, business owners, hotel operators and hairdressers still await payment,” the AP reports. The likely result? A big court battle.
WORLD: Japan confirms China passed its economy in 2010; U.S. still No. 1
China has surpassed Japan as the world’s No. 2 economy, and while most Americans don’t realize it, we’re still No. 1. China was acknowledged last year as having surpassed Japan as the world’s No. 2 economy after the U.S. — a title Japan had held since 1968,” USA Today reports. “But full-year Japanese data confirming it were not available until Monday.”
LAW: Prenups: Not just for married couples anymore
It’s no surprise that the recession has led to more divorcing couples fighting over every asset in court. But here’s what is a surprise: The rise in pre-nups for couples that aren’t married. MSNBC reports there’s “an increase in the number of cohabitation agreements that protect property and other assets for partners living outside the bounds of legally recognized marriages.”
Subscribe by email
Like this article? Sign up for our email updates and we’ll send you a regular digest of our newest stories, full of money saving tips and advice, free! We’ll also email you a PDF of Stacy Johnson’s ’205 Ways to Save Money’ as soon as you’ve subscribed. It’s full of great tips that’ll help you save a ton of extra cash. It doesn’t cost a dime, so why wait? Click here to sign up now.
