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Stanford's Mikaela Ruef (3), South Carolina's Tiffany Mitchell (25) and teammate Sancheon White (20) go after a loose ball during the first half of an NCAA college basketball game on Wednesday, Dec. 19, 2012, in Columbia, S.C. Stanford won 53-49. (AP Photo/Rainier Ehrhardt) Photo: Rainier Ehrhardt, Associated Press / SF Stanford's Mikaela Ruef (3), South Carolina's Tiffany Mitchell (25)...
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But for now, financial analysts and the markets appear focused squarely on a 2013 environment in which the fiscal cliff is avoided, and the economy stays out of recession.What would that economy look like?It would be one with scaled-back federal largess, but possibly enhanced consumer confidence. A fiscal bargain would put some speed bumps in the nation's path, even though the deal's tax hikes and spending cuts wouldn't be of cliff magnitude. The policy changes might exert a slowing force equal to 1 to 2 percent of economic activity.The good news, though, is that a deal would reduce a substantial amount of uncertainty about fiscal policy, giving businesses and consumers the confidence to offset that fiscal drag with some fresh spending.Economists warn that financial uncertainty won't disappear entirely. It appears likely, for example, that a near-term fiscal deal will merely set the stage for more bargaining next year over reforms to costly entitlement programs, and over further tax reforms.Add this all up, and forecasters see next year as a time of tepid economic growth, with gross domestic product (GDP) expanding by about 2 percent even as taxes rise modestly and doubts about 's long-term fiscal health persist.Even though this wouldn't be a roaring recovery, many market strategists expect stocks to perform better than bonds. Two percent growth would be essentially the same as this year. and (R) of appear to be edging toward a deal this month that would reduce projected federal deficits by about $2.5 trillion over the next decade, while leaving more to negotiate next year. (Federal budget experts have generally been calling for a fiscal reform pac <a href={url}>{keyword}</a> kage that would reduce deficits by $4 trillion over the next 10 years.)A survey released this week found that <a href={url}>{keyword}</a> business economists are expecting GDP growth of 1.8 percent next year, with job growth plodding forward at about 165,000 hires per month. That's an average forecast, with some participants more pessimistic and others envisioning solid improvement, with growth above 3 percent.The consensus in the survey, conducted among members of the , was that consumer spending would continue to rise at a 2 percent pace, despite the hit to incomes that may come from a boost in tax rates on the rich and an expiration of a temporary 2 percent reduction in worker payroll taxes.Whil <a href={url}>{keyword}</a> e unexciting, that would be a far better outcome than a no-deal scenario.Economists at have estimated that if all the now-scheduled tax hikes and spending cuts went into effect, a recession next year would shrink US output by 1 percent compared with 2012, and the unemployment rate would rise above 9.5 percent from its current level of 7.7 percent. The , has outlined a recession of similar magnitude, with unemployment above 9 percent.
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| | Time: | 12/28/2012 at 1:45am (UTC) | | Message: | shut they usually aren’ t given. That early effects on the Sandy can nevertheless be seen in your four-week ordinary. The idea rose for you to 408, 000 yesterday. Prior to the hurricane make with Oct. 29, job applications got fluctuated this year concerning 360, 000 and 390, 000. Which has coincided together with solely humble declines within the unemployment quote. Your rage is likewise gonna depress November’ azines occupation figures, which the authorities can statement Exclusive. As well as doubts above looming tax raises and also expending reduces, generally known as your “ financial cliff, ” sometimes have in addition dragged on occupation acquires previous four week period. Economists anticipate business employers included 110, 000 jobs inside November, according to FactSet. And so they feel this having been fired fee will stay several. 9 pct. (ADDITIONAL:? Uses intended for Oughout. Utes. Jobless Aid Tumble to 393, 000)Some analysts anticipate much lower position gains, around 30, 000 that will 40, 000, due to Sandy plus stress and anxiety in the monetary cliff. Nonetheless, a lot of analysts declare the underlying economic climate is always balanced and it is generating jobs at the humble although regular schedule. Minus the depressive consequences associated with.
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Russian President Vladimir Putin is in talks with European Union officials at a summit in Brussels, discussing contentious issues such as energy, trade, human rights and policy on Syria.Putin met Friday with European Commission President Jose Manuel Barroso and European Council President Herman Van Rompuy.Femen members protest Putin's human rights record, European Union Council building, Brussels, Dec. 21, 2012.xFemen members protest Putin's human rights record, European Union Council building, Brussels, Dec. 21, 2012.​​Russia supplies a large chunk of Europe s energy needs, but its bargaining power has suffered as the European Union attempts to diversify its routes of supply. The two sides are at odds over compromises the EU says Russia needs to make in the construction of a proposed oil pipeline.Tensions are also high over new laws the Russian parliament has swiftly approved since Putin s re-election as president earlier this year. The legislation is seen by the West as designed to restrict civic freedoms and stifle dissent.Outside the European Council building Friday, several women who are members of the rights organization FEMEN were arrested for parading topless as they protested Putin s record on human rights.Syria is also high on the summit agenda, with Russia signaling a slightly more flexible stance regarding its longtime ally. Putin told reporters that Russia wants to see a stable, democratic government in the war-torn nation rather than chaos.Russia has been at odds with Western powers over the Syrian conflict and has vetoed United Nations Security Council votes aimed at pressuring Syrian President Bashar al-Assad to step down.Also Friday, the EU approved new sanctions against Iran, adding 18 companies or institutions and one person to a blacklist aimed at pressuring Tehran to give up its nuclear program.
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