August Job Numbers: Last Ones Before Voting Begins
Stockbyte/Thinkstock(CHARLOTTE, N.C.) — Election Day isn’t until Nov. 6, which gives Democrats and Republicans three more monthly jobs reports to anticipate, right?Not exactly. Although job numbers for August, September and October will be…
Bob Woodward Book: Debt Deal Collapse Led to ‘Pure Fury’ from Obama
MANDEL NGAN/AFP/Getty Images(WASHINGTON) — An explosive mix of dysfunction, miscommunication, and misunderstandings inside and outside the White House led to the collapse of a historic spending and debt deal that President Obama and House Speaker John…
National Debt Tops $16 Trillion, Says Treasury Department
Comstock/Thinkstock(WASHINGTON) — The national debt has reached an all-time high of $16 trillion, according to the Treasury Department.The new debt figures came out just hours before the three-day Democratic National Convention kicked off in Charlotte…
Stocks Mixed Amid Lackluster Economic Reports
Hemera/Thinkstock(NEW YORK) — Investors took a cautious approach to stocks after some discouraging economic reports. Tuesday’s session was the first trading day after the holiday weekend. The Dow closed down 55 points, closing at 13,035.94. …
Unemployment Rates Showcased in Convention States
iStockphoto/Thinkstock(WASHINGTON) — As the Democratic National Convention kicks off today in Charlotte, N.C., President Obama must make his case for a second term against a backdrop of 8.3 percent national unemployment, and the rate in the stat…
Ford, GM, Chrysler Report Strong August Sales
KAREN BLEIER/AFP/Getty Images(WASHINGTON) — Consumers may still be exercising caution when it comes to spending money on some things, but last month’s auto sales showed that new cars isn’t one of them.August was a hot month for the auto in…
Obama Takes Credit for Ohio’s Economic Recovery
MANDEL NGAN/AFP/Getty Images(TOLEDO, Ohio) — President Obama marked Labor Day in Ohio by claiming credit for the state’s resurgent economy and panning his rivals’ economic “playbook.”Obama told the UAW Labor Day Celebration tha…
Obama Takes Credit for Ohio’s Economic Recovery
MANDEL NGAN/AFP/Getty Images(TOLEDO, Ohio) — President Obama marked Labor Day in Ohio by claiming credit for the state’s resurgent economy and panning his rivals’ economic “playbook.”Obama told the UAW Labor Day Celebration tha…
Labor Day 2012: Unemployment Remains a Struggle, Especially for Long-Term Unemployed
Comstock/Thinkstock(NEW YORK) — Labor Day honors workers after labor protestors were killed in a railroad strike over wages and work hours in 1894. The protests began in Pullman, Ill. and spread across the country. This Labor Day, unemployment remains…
Fed Remarks Help US Stocks to Third Monthly Gain
Hemera/Thinkstock(NEW YORK) — The markets head into the long Labor Day weekend recovering some of their losses from Thursday. A statement by Federal Reserve chairman Ben Bernanke likely gave the indexes a boost to end the week. Advancing for the …
Fed Remarks Help US Stocks to Third Monthly Gain
Hemera/Thinkstock(NEW YORK) — The markets head into the long Labor Day weekend recovering some of their losses from Thursday. A statement by Federal Reserve chairman Ben Bernanke likely gave the indexes a boost to end the week. Advancing for the …
Labor Day 2012: 8 Biggest Layoff Announcements
PRNewsFoto/Verizon Wireless(NEW YORK) – It seems it’s going to be another tough Labor Day for labor. The U.S. unemployment rate is 8.2 percent, with most jobs lost this year from local and federal government.In the private sector, many companies…
Bernanke Says Fed May Boost Economy
Mark Wilson/Getty Images)(NEW YORK) — Chairman Ben Bernanke defended the Federal Reserve’s past stimulus actions in a speech on Friday morning, saying its actions “can be effective” and more of them may be on the way.Bernanke’s…
American Consumers Went on a July Spending Spree
Jupiterimages/Thinkstock(NEW YORK) — Consumers did more than sweat during a particularly hot July. They spent more money than they did in the past five months. In fact, the spending increased 0.4 percent, the biggest boost since February.What accounte…
$60 Million for a High School Football Stadium?
Darrin Klimek/Thinkstock(ALLEN, Texas) — To say that football is a big deal in Texas is a bit like saying it snows in Alaska. “There’s a long tradition in both film and novels of how important high school football is in Texas,” said …
Romney Says Big Business ‘Doing Fine’ After Criticizing Obama for Similar Remarks
William Thomas Cain/Bill Pugliano/Getty Image(HOPKINS, Minn.) — Mitt Romney Thursday night said that big businesses are “doing fine,” using similar language that the presumptive nominee has hammered President Obama for using to describe th…
Middle-Class Worse Off Now than a Decade Ago, Survey Says
Comstock Images/Thinkstock(WASHINGTON) — A survey released Wednesday shows there’s no getting around the fact that the middle-class in the U.S. got slammed during the last decade.Statistics from the Pew Research Center for Social and Demographic Trend…
Fed Hints More Action Coming in the Near Future
Mark Wilson/Getty Images(WASHINGTON) — The financial world has Aug. 31 circled on its calendar as the day the Federal Reserve might finally get around to announcing more action in an effort to jumpstart the still foundering economy.The tip-off came We…
Egypt Seeks Nearly $5 Billion in Aid from IMF
Stockbyte/Thinkstock(CAIRO) — Waning tourism and growing debt is threatening the Egyptian economy, and now the post-Mubarak government is asking the International Monetary Fund for help to the tune of nearly $5 billion.In a meeting Wednesday with IMF …
Vice President Joe Biden: ‘Detroit’s Getting Back Up’ Economically
Joe Raedle/Getty Images(DETROIT) — Revving up a crowd at a Detroit high school, Vice President Joe Biden offered up one of his father’s old adages to illustrate the tenacity the people of Detroit possess as their city works to recover from the c…