Gas Crunch

2008-04-21

Hold on to your gas cap, things are about to get really ugly. U.S. average retail gas prices are now just shy of $3.50 a gallon. That's a record! But wait, there's more. Prices are expected to rise by 30 cents per gallon over the next few weeks. But wait, there's more. This summer gas prices are likely to be well over $4.00 a gallon! Record crude oil prices are largely to blame. A new survey shows that 45% of Americans are driving less, and an equal number say high gas prices are causing them a great deal of financial hardship.

Pope UN

2008-04-18

After three historic days in Washington, the Benedict goes north today to New York City. He speaks at the United Nations which is actually the original reason for his visit to the U.S. The pontiff will address diplomats from around the world and is widely expected to touch on subjects he avoided while at the White House. We are told to expect comments on Iraq, the Israeli-Palestinian crisis, and human rights.

Airline Delays

2008-04-09

We'll get you there when we get you there. That should be the motto of all major airlines based on flight delay statistics so far this year. In February, which is generally not a "bad weather" month, 31 percent of all commercial flights in the U.S. arrived late. 2007 was the second worst on-time year on record. The FAA has cooked up a batch of plans to try and solve the problem for the peak flying season this summer. But lo and behold the airlines are now rallying against some of efforts and may sue the Transportation Department to stop them. A House committee is set to review this mess later today.

Senate Iraq Hearings

2008-04-08

General David Petraeus is expected to tell Senate Committees that last years surge of troops has helped calm some of the violence in war torn Iraq. But, troops will need to stay through the end of the year. The General testifies in the morning before the Armed Services Committee where John McCain and Hillary Clinton are members. In the afternoon he testifies before the Foreign Affairs Committee where Barack Obama is a member. However, it is not expected that Obama will get a chance to ask questions before 6:30pm EST. General Petraeus testified about the military situation last September. Since that time, support for the war, both publicly and politically, has continued to erode. We will also hear from Ambassador Ryan Crocker about the Iraqi political situation.

Unemployment Surges

2008-04-04

The U.S. labor picture continues its decline battered by the economic slowdown. 80,000 jobs were lost in March, the third consecutive month of job losses. The Labor Department explains what's going on Friday, but three things are clear. The trio of the housing, credit and financial sector crises are taking their toll on employers and, in turn, the economic security of their employees.