US economy

Stories 401 - 420 | << Prev   Next >>

Busted Fatcats Have Everything —Except a Clue

High-fliers fail to realize that national mood has turned against them

(Newser) - The real problem with Tom Daschle is the $5 million he made on the post-Senate gravy train, not his unpaid taxes, Steven Pearlstein writes in the Washington Post. Daschle, John Thain, and their fellow corporate and government high fliers have run afoul of an American public that's "no longer...

Big Biz Slams 'Buy American' Stimulus Clause

Exporters warn of foreign backlash if package erects free-trade barriers

(Newser) - American exporters are fighting to ditch "Buy American" provisions from the economic stimulus package, the Washington Post reports. The House version bars most foreign iron and steel from stimulus projects, while a Senate version calls for only American-made equipment and goods to be used in nearly all projects to...

Bush, Obama Call for 2nd TARP $350B

(Newser) - President Bush and Barack Obama asked Congress today to release the remaining $350 billion in TARP funds to prop up the troubled US financial system. The White House said Bush acted on a request from the president-elect, who takes office next week. Congress may vote on the request as early...

Obama's Cure Not Potent Enough for Economic Ills

Call for bold action on economy followed by plan that falls a long way short

(Newser) - Barack Obama's call for aggressive action on the economy hasn’t been backed up by a plan bold enough to do the job, Paul Krugman writes in the New York Times. Plunging levels of investment and consumer spending will leave a gap of around $2 trillion between what America produces...

Newfound Thrift Battering Economy

Sharp rise in savings rate expected to lengthen recession

(Newser) - Americans worried about the recession are stashing away cash at the highest rate in decades—but economists fear that the thrift will prolong hard times, reports the Wall Street Journal. The national savings rate has rebounded from less than zero to levels expected to hit 5% or higher this year...

Steel Industry Hopes Stimulus Will Forge Recovery

Execs want projects using American steel to be center of economic recovery

(Newser) - Leaders of America's sagging steel industry are hoping their operations will spearhead the economy's recovery with some major help from the US government, the New York Times reports. Steel orders have collapsed since September, causing thousands of layoffs. Execs are pushing hard for the expected stimulus package from the incoming...

Shoppers Go Whole Hog for Piggy Banks

Newly frugal consumers use little pink pals to help save

(Newser) - Piggy banks have been flying off the shelves this holiday season, reports Reuters. Newly frugal consumers see the pigs as symbolic of the need to save, retailers say. The savings rate across America has shot up from zero to 2.8% as worried households start to sock away cash—although...

Bailout Success Will Teach Wrong Lesson
Bailout Success Will Teach Wrong Lesson
OPINION
Jan 1, 2009 5:03 AM CST

Bailout Success Will Teach Wrong Lesson

Rescuing firms from mess they created will send message that bills don't need to be paid

(Newser) - America needs to learn some hard lessons that a $700 billion bailout of the economy isn't going to teach, David Ignatius writes in the Washington Post. If the the country manages to dodge a depression, the message will be that irresponsible behavior brings a rescue, and that bills don't need...

Dumbest Gaffes on the Economy

Instead of predicting financial crisis, they hid it

(Newser) - The men who should have been warning us about the impending financial crisis were a wee bit off the mark at times. MSNBC rounds up some of the dumbest things said:
  • "Subprime market problems seem likely to be contained."—Ben Bernanke, March 28, 2007
  • "The fundamentals
...

Recession? Not for Botox Docs
 Recession? Not for Botox Docs 

Dec 23, 2008 2:14 PM CST

Recession? Not for Botox Docs

For some, it's the cheaper alternative

(Newser) - Botox, apparently the poor man's plastic surgery, has not taken a hit in this recession, according to a recent survey. In fact, some doctors say demand for the pay-as-you-go treatment has increased as patients put off pricier surgeries, the Wall Street Journal reports. A lip plump or wrinkle-smoothing costs a...

South Ensuring Detroit Won't Rise Again

States woo Northern economy with lower wages, 'inhumane standards'

(Newser) - It's no coincidence that Dixie senators derailed the Big Three bailout, since the South—with anti-union laws, low wages, and modest taxes—has built a counter-Detroit that will ensure that neither the Motor City or the South will rise again, Michael Lind writes in Salon. The same tactics were used...

Welfare Rolls Rising for First Time Since '90s

Tide of middle-class jobless could seriously strain program

(Newser) - Welfare numbers are rising in many states for the first time since public assistance was redefined more than a decade ago, the Washington Post reports. The numbers are still small compared to the days before welfare was retooled to steer people into jobs, but at least a dozen states say...

Pets Are Losing Homes, Too
 Pets Are Losing Homes, Too 
Dec 16, 2008 2:29 PM CST

Pets Are Losing Homes, Too

Recession sparks rise in animal abandonment

(Newser) - Animal shelters are being filled with pets abandoned because of the recession and home foreclosures. In Massachusetts, a rescue league has seen a 45% jump in owners citing money or housing problems when they surrender a cat or dog. Others are just leaving their pets on the streets or in...

Bush: Auto Bailout 'Not Ready'
 Bush: Auto Bailout
'Not Ready' 
Dec 15, 2008 3:58 AM CST

Bush: Auto Bailout 'Not Ready'

Deal seems to be grinding gears

(Newser) - The federal auto industry bailout appeared to be stuck in neutral as President Bush warned today that a deal is not imminent. "We're not quite ready to announce that yet," Bush told reporters on a plane to Afghanistan. Lawmakers expected the administration to quickly reallocate part of the...

Detroit Failure Could Spark 'Economic Chaos'
Detroit Failure Could Spark
'Economic Chaos' 
ANALYSIS
Dec 13, 2008 9:17 AM CST

Detroit Failure Could Spark 'Economic Chaos'

Analysts warn that letting automakers sink will have impact across the economy

(Newser) - Letting one of the Big Three go under could have disastrous effects on many corners of the American economy, McClatchy Newspapers reports. Beyond the jobs lost at the companies and their suppliers—as well as the jobs lost everywhere those workers spend their wages—the repercussions would hit sectors as...

Poll: Americans Back Economic Intervention

A growing majority blames financial crisis on deregulation

(Newser) - A clear majority of Americans approve of Washington taking firm steps to intervene in the nation's struggling economy, a Los Angeles Times poll finds. Two-thirds favor tighter restrictions on financial institutions and 60% back help for homeowners facing foreclosure. A huge 87% blamed deregulation for the economic crisis—up 25% ...

Bush, Obama Team Up on Crisis
 Bush, Obama Team Up on Crisis 
Nov 25, 2008 5:27 AM CST

Bush, Obama Team Up on Crisis

President huddles with his successor on bailout plans

(Newser) - The federal government's response to the economic crisis is part of a team planning effort, with Barack Obama working closely with President Bush in a bid to bring confidence back to spooked financial markets, the New York Times reports. The president's aides are coordinating efforts with Obama's new economic team,...

Detroit Should Look at the History of Steel
Detroit Should Look at the History of Steel
Analysis
Nov 23, 2008 2:09 PM CST

Detroit Should Look at the History of Steel

Bankruptcy saved that industry, but auto isn't exactly the same

(Newser) - When the steel industry was floundering, many people thought the worst possible outcome would be to allow the big, old companies to go bankrupt. But it took that failure to pare down the industry to a workable size and inject new life into it, David Streitfeld writes in the New ...

Fears of Deflation Spook Economists

With oil below $50 and sales everywhere, economists seek solutions

(Newser) - Lower prices may sound like a good thing, but economists say sustained deflation poses a serious threat to any turnaround, the Washington Post reports. Consumer prices are tanking on everything from clothes to steel, which feeds a cycle: People stop buying as they hold out for better sales, and stores...

Military Recruitment Up Amid Job Crisis

Pending Iraq withdrawal also increasing appeal

(Newser) - More young people are considering joining the military as civilian jobs dry up and the US begins to prepare plans to withdraw from Iraq, reports USA Today. After years of difficulty finding recruits, a Pentagon survey shows a jump from 9% to 11% in the number of 16- to 20-year-old ...

Stories 401 - 420 | << Prev   Next >>