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Question: How does it happen that the whole world is in a recession Kavion, senior, Central High School, Phoenix, Ariz.Paul Solman: The whole world isn ;t in a recession. China is growing; so is India; so is Brazil. Among them, those three countries alone have something like two-thirds our GDP and maybe nine times as many people as we do.As to the parts of the world that are in recession largely in Europe it looks like the reason is because their citizens borrowed and spent beyond their means.Question: When, why and how did the economy begin to fall Chanessa, senior stanley cup , Central High School, Phoenix, Ariz.Paul Solman: When: late 2007.Why: easy credit, easier regulation, a natio stanley cup nal mindset that we could have it all.How: Scam artists got into the act and pushed the economy beyond the breaking point. You know Ben Stein, the guy chained to Shaquille O ;Neal in those TV ads His father, a famous economist, is known for Herb stanley cup Stein Law: If something cannot go on forever, it will stop.Question: If every other major economy in the world has universal health care why doesn ;t the United States Kavion, senior, Central High School, Phoenix, Ariz.Paul Solman: The excellent health economist Victor Fuchs gives four reasons:1. Many organizations prefer the status quo. Insurance companies, drug companies 2. Machiavelli Law of Reform suggests that a determined and concentrated minorit Xwpi U.S. reaches $95.5M settlement in for-profit education case
BETHESDA, Md. AP 鈥?President Joe Biden said Thursday that the U.S. will have enough supply of the COVID-19 vaccine by the end of the summer to inoculate 300 million Americans.Watch Biden remarks in the player above.Biden made the announcement at the sprawling N stanley cup ational Institutes of Health complex just outside Washington as he visited some of the nation leading scientists on the frontlines of the fight against the disease. He toured the Viral Pathogenesis Laboratory that created the COVID-19 vaccine now manufactured by Moderna and being rolled out in the U.S. and other countries.The U.S. is on pace to exceed Biden goal of a af1 dministering 100 million vaccine doses in his first 100 days in office, with more than 26 million shots delivered in his first three weeks.That just the floor, Biden said. Our end goal is beating COVID-19.Biden announced on Thursday that the U.S. had secured contractual commitments from Moderna an adidas samba d Pfizer to deliver the 600 million doses of vaccine by the end of July 鈥?more than a month earlier than initially anticipated.We ;re now on track to have enough supply for 300 million Americans by the end of July, he announced.The pace of injections could increase further if a third coronavirus vaccine from drugmaker Johnson Johnson receives approval from the Food and Drug Administration.WATCH: How the Biden administration is trying to ramp up the pace of vaccinationsSpeaking wit