Category Archives: Government

Obama to propose new tax rate for millionaires

By doris | Published: September 18, 2011

Full Story at money.cnn.com WASHINGTON (CNN) — The White House will propose a new tax rate for people earning more than $1 million a year to ensure that they pay at least the same percentage of their earnings in taxes as middle-income Americans, administration and White House officials told CNN on Sunday. Called the Buffett [...]

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Lawmakers face limits in fight to fix economy

By doris | Published: September 11, 2011

Full Story at msnbc.com With unemployment stuck above 9 percent, Americans are looking to the White House, Republican presidential candidates and the Federal Reserve for credible plans to boost job growth. None of the proposals now being floated hold much promise. Falling home prices continue to wipe out equity for millions of households. Manufacturing has [...]

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CNN Poll: 8 in 10 think we’re in a recession

By doris | Published: September 4, 2011

Full Story at PoliticalTicker.blogsCNN.com Washington (CNN) – Economic fears are not diminishing. More than eight in 10 Americans think the economy is in another recession, according to a new CNN/ORC poll. One-third of those surveyed think it’s serious. While the country isn’t technically in a recession because the economy hasn’t experienced two straight quarters of [...]

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US economic growth slower than expected in spring

By doris | Published: August 26, 2011

Full Story at msnbc.com WASHINGTON — The economy grew much slower than previously thought in the second quarter as business inventories and exports were less robust, a government report showed on Friday, although consumer spending was revised up. Gross domestic product growth rose at annual rate of 1.0 percent the Commerce Department said, a downward [...]

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With Gadhafi out of power, oil prices should fall

By doris | Published: August 22, 2011

Full Story at msnbc.com NEW YORK — Oil prices around the world should start falling if Libyan rebels succeed in toppling Moammar Gadhafi’s regime, though the full effect won’t be felt for months. Crude prices fell on Monday on hopes that Libya would soon resume oil output. A grim outlook for the economy also helped [...]

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U.S. places $40 million chicken order

By doris | Published: August 17, 2011

Full Story atmoner.cnn.com NEW YORK (CNNMoney) — The United States is stepping in to help bail out another American industry — chicken farmers and meat processors. The nation’s chicken industry is having a difficult year. Chicken producers are struggling with higher costs of running their business at the same time that consumers are buying less [...]

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Clock ticking on Postal Service budget crisis

By doris | Published: August 15, 2011

Full Story at money.cnn.com WASHINGTON (CNNMoney) — With 120,000 post office workers facing layoffs and thousands more facing benefits changes, lawmakers will soon be required to make some tough choices — meaning that those choices are likely to be postponed until the last minute. With the U.S. Postal Service on the brink of insolvency, it’s [...]

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Food stamp use rises to record 45.8 million

By doris | Published: August 5, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Nearly 15% of the U.S. population relied on food stamps in May, according to the United States Department of Agriculture. The number of Americans using the government’s Supplemental Nutrition Assistance Program (SNAP) — more commonly referred to as food stamps — shot to an all-time high of [...]

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Students to feel pinch in debt deal

By doris | Published: August 2, 2011

Full Story at money.cnn.com WASHINGTON (CNNMoney) — Some students will start owing more on their loans while they’re in school under a last-minute debt ceiling deal to keep the country out of default and reduce deficits by at least $2.1 trillion over a decade. As part of the savings to trim the deficits, Congress would [...]

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Seniors: We need our Social Security!

By doris | Published: July 31, 2011

Full Story at money.cnn.comSocial Security was not to be touched by the government and take money out of it. They say they borrowed from it,but they never paid it back. If they had it would not be in the shape it is in now. Why do they take from the people that really need it. [...]

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Wall Street Week Ahead: Debt and data suggest more losses

By doris | Published: July 30, 2011

Full Story at news.Yahoo.com NEW YORK (Reuters) – The crisis over raising the debt ceiling may have been manufactured by politicians, as many on Wall Street charge, but its effect on consumers and the broader economy is likely to prove very real. Fear that Congress may not raise the government’s $14.3 trillion legal borrowing limit [...]

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Stocks give up gains, end trading day mixed

By doris | Published: July 28, 2011

Full Story at msnbc.com NEW YORK — Stocks lost most of their gains late in the trading session Thursday, closing mixed after an unexpected decrease in unemployment claims sent the market slightly higher earlier even as a stalemate continued in Washington over how to avoid a U.S. debt default. The government said first-time applications for [...]

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Nearly 3,700 post offices slated to close

By doris | Published: July 26, 2011

Full Story atmoney.cnn.com WASHINGTON (CNNMoney) — Your little post office could be slated to close as the U.S. Postal Service tries to find ways to cut red ink. Postmaster General Patrick Donahoe released a long-awaited “post office study” of nearly 3,700 potential closings in all 50 states and Washington, D.C. “The Postal Service of the [...]

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Debt ceiling: What happens if Congress doesn’t raise it?

By doris | Published: July 23, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Prospects for a debt-ceiling deal dimmed late Friday afternoon when talks broke down between President Obama and House speaker John Boehner. Lawmakers will continue negotiating, and a deal is still ultimately possible, but what happens if lawmakers fail to act by the Aug. 2 deadline? Well, it’s [...]

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