Category Archives: Government

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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Jobless rates jump in 28 states in June

By doris | Published: July 22, 2011

Full Story at news.Yahoo.com WASHINGTON (Reuters) – Jobless rates jumped in June from the month before in more than half of the U.S. states as sinking public employment reversed the trend of steadily improving labor conditions in the first half of 2011, Labor Department data released on Friday showed. Altogether, 28 states and the District [...]

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Boeing labor dispute turns into headache for Obama

By doris | Published: June 29, 2011

Full Story at msnbc.com WASHINGTON — The government’s labor dispute with Boeing Co. is turning into a political headache for President Barack Obama, giving his Republican rivals a fresh opening to bash the administration’s economic policies. From congressional hearings to presidential debates, outraged Republicans are keeping up a steady drumbeat of criticism over the National [...]

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Stocks have their first winning week since April

By doris | Published: June 17, 2011

Full Story atnews.Yahoo.com Signs that a solution to Greece’s debt problems could be near helped the stock market eke out its first week of gains since April. Germany softened its conditions for giving Greece more loans on Friday, putting Greece closer to getting more financial support and avoiding a default. Global financial markets were rattled [...]

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Dow, S&P fall for fifth-straight week

By doris | Published: June 5, 2011

Full Story at CNNMoney NEW YORK (CNNMoney) — U.S. stocks fell sharply on Friday, with the Dow and S&P falling for the fifth-straight week, as investors digested a disappointing May jobs report. The Dow Jones industrial average (INDU) lost 97 points, or 0.8%, to end the week at 12,151. The Dow is on its longest [...]

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Appeals court to hear health care overhaul lawsuit

By doris | Published: June 4, 2011

Full Story at news.Yahoo.com (Reuters) – Boeing Co (BA.N) will lay off about 510 employees in its Space Exploration division as the United States’ space shuttle program draws to a close. There will no material impact on the company as a result of the job cuts, a spokesman for Boeing’s Space Exploration division told Reuters. [...]

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May jobs report: Hiring slows, unemployment rises

By doris | Published: June 3, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — In yet another alarm bell of a weakening U.S. economy, the job market took a disappointing turn in May. The economy gained a mere 54,000 jobs in the month, a significant slowdown from 232,000 jobs added to payrolls in April, the government reported Friday. The report was [...]

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