skip to main content
skip to newscasts

Thursday, September 26, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Hurricane Helene charges toward Florida's Gulf Coast, expected to strike late today as a dangerous storm; Millions of Illinois' convenient voting method gains popularity; House task force holds first hearing today to investigate near assassination of Donald Trump in Pennsylvania; New report finds Muslim students in New York face high levels of discrimination in school.

view newscast page
play newscast audioPlay

Biden says all-out-war is threatening in the Middle East, as tensions rise. Congress averts a government shutdown, sending stopgap funding to the president's desk and an election expert calls Georgia's latest election rule a really bad idea.

view newscast page
play newscast audioPlay

The presidential election is imminent and young rural voters say they still feel ignored, it's leaf peeping season in New England but some fear climate change could mute fall colors, and Minnesota's mental health advocates want more options for troubled youth.

Threat of Iran War Hurting Weak U.S. Recovery

play audio
Play

Wednesday, March 21, 2012   

PHOENIX - Concerned that Iran may be building nuclear weapons, some in Congress are pressing the United States to bomb Iran's nuclear facilities, or help Israel do it. However, economists warn that even the threat of war is hurting the economic recovery.

The standoff in the world's most important oil-producing region is driving up the price of crude, says economist Mark Weisbrot, co-director of the Center for Economic and Policy Research, adding that any conflict probably would have a terrible impact on the frail European economies - which, in turn, could damage what is still weak growth here.

"Oh, very easily. We're only growing 1.8 percent for this year. The threats against Iran, the threat of war, could easily tip the U.S. economy into recession."

Gasoline in Arizona is averaging about $3.88 a gallon, 4 cents above the national average, according to the American Automobile Association.

Economists cite numerous factors behind the rising price of gasoline, including a bottleneck at refineries and the exporting of gas to Europe. But Weisbrot says the threat of war is the single reason crude oil has gone up $6 to $10 a barrel since the beginning of the year. Since it's a global market, he says, drilling or building pipelines here wouldn't make much difference.

"Any kind of oil production here or in Canada would have very little impact. What we're looking at really has nothing to do with whether the president wants to drill anywhere or build a pipeline."

Weisbrot says the European economies are in an even more vulnerable situation than that of the United States, adding that a new crisis there could easily spread across the Atlantic.

"Just as it could tip the U.S. economy into recession. Europe is already in recession, and Europe is more fragile as well, because of the financial problem."

Estimates vary widely on how far Iran may be from producing nuclear weapons, and it's even uncertain if that's the regime's intention. Most experts agree that Israel already has nuclear weapons, although the Israeli government refuses to confirm or deny it.


get more stories like this via email

more stories
A new report from the Council on American Islamic Relations-New York showed 43% of students who were bullied for being Muslim said they never asked for help. (Adobe Stock)

Social Issues

play sound

A new report found Muslim students in New York City public schools face high levels of discrimination in school. The report from the Council on …


Social Issues

play sound

With the election six weeks away, concern is building about attempts to intimidate voters at the polls - so, lawmakers are taking action at the state …

Health and Wellness

play sound

Health-care advocates say more than 1 million North Carolinians could lose access to health care if the promises made in Project 2025 are carried out…


A blood test for thyroid stimulating hormone (TSH) costs between $10 and $250 depending on which health care facility you choose. A comprehensive metabolic panel ranges from $10 to $700. (Adobe Stock)

Health and Wellness

play sound

Shopping for health-care procedures has historically been more challenging than getting the best deal on groceries or even car repairs. But Cari …

Health and Wellness

play sound

While overdose deaths in the Commonwealth have declined, deaths among Black Kentuckians have increased by 5%, according to data from the latest …

Environment

play sound

A North Dakota task force meets again next month as it considers updating the scope of local zoning laws dealing with factory farms. It is an issue …

Social Issues

play sound

Through this Saturday, Minnesota is recognizing Workplace Rights Week. From COVID precautions to emerging technology, labor voices said there is key …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021