President Obama Ousts GM CEO Rick Wagoner; Debt Fret; The Long Fall
President Obama Ousts GM CEO Rick Wagoner
Today President Obama issued strict orders for GM and Chrysler. He stated that government financial assistance for the companies would end unless GM produces a better restructuring plan within 60 days and Chrysler partners with Fiat. The announcement comes on top of the Obama administration's request that GM CEO Rick Wagoner resign. Larry Mantle finds out what these big changes mean for the future of the American auto industry. Guests include David Welch of BusinessWeek, Peter Nicholas of the L.A. Times, Dan Neil of the L.A. Times, and and Robert Scott from the Economic Policy Institute.
Debt Fret
The numbers are staggering. The National Debt has increased an average of $3.73 billion per day since September 28, 2007. It is now at $11 trillion. The Bush administration added $4 trillion. The National Debt stood at $10.6-trillon on the day Barack Obama took office. But if his budget projections are accurate, he'll run up nearly as much government debt in four years as President Bush did in eight. Clearly, something has to be done to try and resuscitate our ailing economy. We can't let the financial system collapse. And the US can't simply walk away from two wars, so those bills continue to pour in. But how much longer can this go on without serious repercussions? And is it moral to saddle future generations with so much debt? Guest include Josh Gordon from the Concord Coalition, John Irons from the Economic Policy Institute, and Ted Dehaven from the CATO Institute.
The Long Fall
Once mired in the criminal sins that inundated his past life, private investigator Leonid McGill has now decided to become a force for good. In spite of his noble desires for inner change, he is finding that conversion is difficult, to say the least. In "The Long Fall," acclaimed author Walter Mosley describes the challenges McGill faces: his haunting past, his problems with law enforcement and the traces of crime he finds in the unlikeliest of places. Larry talks to one of America's most celebrated and best known writers, Walter Mosley, to talk about his most recent mystery novel.