Originally published on Sun February 17, 2013 2:08 pm
By Krishnadev Calamur
Credit Carolyn Kaster / AP
The White House and congressional Democrats are sounding the alarm bells over the consequences of the sequester, the across-the-board cuts to the budget that are scheduled to go into effect in March.
White House Chief of Staff Denis McDonough said the cuts would offset "pretty good" economic activity over the past few months. He said President Obama had a plan to cut an addition $1.5 trillion from the deficit.
From the steam engine to visions of a national high-speed rail system, railroads have made their mark on American culture.
In his first term, President Obama promised to create a national system of high-speed rail, though he was scarcely the first politician to have done so. The January 2010 stimulus bill allocated $8 billion for high-speed rail projects, but Congress rejected federal funding for it.
In his State of the Union address on Tuesday, the president reiterated the goal of having passenger rail rise again.
People around the world want the same thing from their doctors. First, do no harm. Second, take a look at this weird bump and tell me if I should get worried.
The job is basically the same in many countries around the world. But the pay is wildly different. The median salary for U.S. doctors is about $250,000 a year. In Western Europe, it's less than half that. In developing countries, the salaries are even lower.
NPR's business news starts with Europe's rocky economy.
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WERTHEIMER: It was a tough three months for the eurozone at the end of last year. The area fell deeper into recession.
And as NPR's John Ydstie reports, it's expected to remain in recession well into 2013.
JOHN YDSTIE, BYLINE: The output of the eurozone fell six-tenths of a percent in the final three months of last year, according to a report from Eurostat. The decline translates to an economy contracting at a 2.3 percent annual rate.
It's MORNING EDITION from NPR News. I'm Linda Wertheimer.
RENEE MONTAGNE, HOST:
And I'm Renee Montagne.
With Congress headed for a recess, prospects are dimming for a deal to keep the nation from falling off the next fiscal cliff - sequestration. That's the term for automatic spending cuts that go into effect March 1.
NPR's Mara Liasson explains how the White House and Congress got to this impasse and why it's so hard to get past it.