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Karl Rove ‘offended’ by Clint Eastwood’s Chrysler ad

Tue, 07 Feb 2012 00:00:00 -0800

Washington Post - By Rachel Weiner - Feb. 07 (News Report) - A Chrysler ad aired during the Super Bowl Sunday night has inspired ire among some Republicans and admiration among some Democrats — with both sides seeing a political message that boosts President Obama.

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U.S. Car Manufacturers Have Record December

Wed, 04 Jan 2012 00:00:00 -0800

ABC News - By Susanna Kim - Jan. 04 (News Report) - Chrysler announced its best monthly retail sales in four year years, leading the pack of U.S. car makers who had capped a robust 2011 with strong December sales.

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America's army of jobless

Wed, 30 Nov 2011 00:00:00 -0800

Los Angeles Times - By David B. Grusky - Nov. 30 (Fact Check) - The real number of unemployed or underemployed people in the U.S. is a stunning 26.9 million.When President Obama announced that 40,000 troops now in Iraq would come home by the end of the year, the initial excitement quickly turned to concern that our already struggling economy couldn't easily handle the shock of an additional 40,000 job seekers.

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Surge in Free School Lunches Reflects Economic Crisis

Tue, 29 Nov 2011 00:00:00 -0800

New York Times - By Sam Dillon - Nov. 29 (Special Report) - Millions of students are receiving free or low-cost meals for the first time as their parents have lost jobs or homes in the economic crisis.

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Ray Kachel’s journey from Seattle to Zuccotti Park.

Mon, 28 Nov 2011 00:00:00 -0800

New Yorker - By George Packer - Nov. 28 (News) - Until this fall, Ray Kachel had lived virtually all of his fifty-three years within a few miles of his birthplace, in Seattle. He was a self-taught Jack-of-all-trades in the computer industry, who bought his first Mac in 1984. He attended Seattle Central

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The Pledge: Grover Norquist's hold on the GOP

Tue, 22 Nov 2011 00:00:00 -0800

60 Minutes - By Steve Kroft - Nov. 22 (Special Report) - As head of Americans for Tax Reform since 1986, Grover Norquist has transformed a single issue - preventing tax hikes - into one of the key platforms of the Republican Party. As Steve Kroft reports, his biggest coup was getting more than 270 members of Congress, and nearly all of the 2012 Republican presidential primary candidates, to sign a pledge promising never to vote to raise taxes. But some opponents say the pledge may be hindering a solution to America's debt crisis.

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World financial markets tumble on news of debt supercommittee’s stalemate

Mon, 21 Nov 2011 00:00:00 -0800

Washington Post - By Neil Irwin - Nov. 21 (News Report) - World financial markets tumbled Monday, as there were no new signs of resolution to Europe’s intractable crisis and as the U.S. debt supercommittee failed to reach agreement on a deficit reduction plan. The Dow Jones industrial average closed down 245 points, or 2.1 percent and the broader Standard & Poor’s 500-stock index was down 1.9 percent. Global markets were down even more, with the German Dax index off 3.4 percent and French and Spanish markets down by similar amounts.

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Older, Suburban and Struggling, 'Near Poor' Startle the Census

Sat, 19 Nov 2011 00:00:00 -0800

New York Times - Nov. 19 (News) - New York TimesOlder, Suburban and Struggling, 'Near Poor' Startle the CensusNew York TimesBelinda Sheppard and two adult children live above the poverty line, and barely cover their bills. By JASON DePARLE, ROBERT GEBELOFF and SABRINA TAVERNISE WASHINGTON — They drive cars, but seldom new ones. They earn paychecks, but not big ones. ...51 million Americans fall into ranks of 'near poor'Sacramento BeeMore than 1 in 5 US children poor, Census saysReutersCensus says poverty has increased in New JerseyNorthJersey.comDeseret News -StandardNet -News Boxall 164 news articles »

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Eurozone's woes could damage U.S.

Wed, 16 Nov 2011 00:00:00 -0800

The Politico - Nov. 16 (News Analysis) - President Barack Obama and the Republicans hoping to unseat him face a dangerous game of Jenga with the European debt crisis. One false move could cause the building blocks of the global economy to tumble down, perhaps knocking out the shaky American recovery

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Lawyers: Court order will allow Occupy Wall St. protesters to return with tents to NYC park

Tue, 15 Nov 2011 00:00:00 -0800

Washington Post - By Associated Press - Nov. 15 (News Report) - Hundreds of police officers in riot gear raided Zuccotti Park early Tuesday, evicting dozens of Occupy Wall Street protesters from what has become the epicenter of the worldwide movement protesting corporate greed and economic inequality.

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Fed Lowers Growth Outlook for Next Year, Sees 8.6% Unemployment

Wed, 02 Nov 2011 00:00:00 -0700

Business Week - By Craig Torres - Nov. 02 (News Report) - Federal Reserve officials lowered their outlook for U.S. economic growth in 2012 and forecast that unemployment will average from 8.5 percent to 8.7 percent in the final three months of next year. The forecasts were released after the Federal Open Market Committee today acknowledged economic growth “strengthened somewhat” in the third quarter while also citing “continuing weakness” in labor markets and “significant downside risks” to the economic outlook. The committee left unchanged its plans to lengthen the maturity of its bond portfolio and maintain its mortgage-backed securities investments, and keep the federal funds rate in a range of zero to 0.25 percent until mid-2013.

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U.S. Stock Futures Drop as Europe Woos China for Bailout Fund

Mon, 31 Oct 2011 00:00:00 -0700

Bloomberg - By Adria Cimino - Oct. 31 (News) - U.S. stock futures fell, indicating the Standard & Poor's 500 Index may pare its biggest monthly rally since 1974, as investors awaited China's response to the European request for money to boost the bailout fund. Alcoa Inc., the largest U.S. aluminum producer, and General Electric Co. led declining shares in European trading. Futures on the S&P 500 expiring in December fell 0.9 percent to 1,269.4 at 8:50 a.m. in London. The S&P 500 advanced in the last four weeks and has climbed 14 percent this month. Futures on the Dow Jones Industrial Average retreated 89, or 0.7 percent, to 12,079

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Obama to reduce student loan debt payments

Wed, 26 Oct 2011 00:00:00 -0700

Los Angeles Times - By Alexa Vaughn - Oct. 26 (News Report) - The president will cut to 10% the maximum percentage of income that students will have to pay on their loans. Similar measures passed by Congress were not due to go into effect until 2014.

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Obama to bypass Congress on mortgages

Tue, 25 Oct 2011 00:00:00 -0700

CBS News - Oct. 25 (News) - With Republicans continuing to stall action on President Obama's $447 billion jobs bill, the White House is taking action to help jump-start the economy with the message "We can't wait." President Obama is going to begin a series of executive branch actions that will not require action from Congress - or the assent of Republicans. With recovery in the housing market tied to economic recovery, Mr. Obama will today announce what senior officials are calling a "major overhaul" of the government's underused refinance program for federally guaranteed mortgages, in order to aid homeowners having difficult refinancing their housing loan.

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What Percent Are You?

Tue, 25 Oct 2011 00:00:00 -0700

Wall Street Journal - By Phil Izzo - Oct. 25 (Special Report) - The Occupy Wall Street movement seeks to speak for the bottom 99% of the population by income, which includes pretty much everyone who makes less than $500,000 a year. According to the protesters’ unofficial website, “Occupy Wall Street” is a leaderless movement of people from many different backgrounds. “The one thing we all have in common is that we are the 99% that will no longer tolerate the greed and corruption of the 1%,” the website says. A related site called We Are the 99% records stories from people around the country. The calculator above shows where your income stands on the wide range of the 99%. An annual salary above $506,000 puts you in the top 1%, while you need to make less than $2,500 a year to be in the bottom 1%. Where do you stand?

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More Jobs Predicted for Machines, Not People

Sun, 23 Oct 2011 00:00:00 -0700

New York Times - By Steve Lohr - Oct. 23 (News Report) - A faltering economy explains much of the job shortage in America, but advancing technology has sharply magnified the effect, more so than is generally understood, according to two researchers at the Massachusetts Institute of Technology.

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50% of All Workers Made Less than $26,000 in 2010

Thu, 20 Oct 2011 00:00:00 -0700

Atlantic Monthly - Oct. 20 (News) - ... the lowest level since 1999, after adjusting for inflation

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Afghanistan and Iraq wars not worth fighting, say a third of US veterans

Wed, 05 Oct 2011 00:00:00 -0700

The Guardian - Oct. 05 (News Report) - One in three US veterans of the post-9/11 military believes the wars in Iraq and Afghanistan were not worth fighting, and a majority think ...Poll finds pride in military, but not for Afghanistan, Iraq wars

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Wall St. trading could generate taxes

Wed, 05 Oct 2011 00:00:00 -0700

The Politico - By Josh Boak - Oct. 05 (News Report) - “The existence of the tax has not prevented the U.K. from having a vibrant financial market,” he wrote. “Apparently investors view the benefits of trading on the London exchange as being valuable enough to outweigh the cost of the tax. Presumably, this would be even more true in the case of the United States.”

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Meltdown: The Men Who Crashed the World

Sat, 24 Sep 2011 00:00:00 -0700

Aljazeera - Sep. 24 (Special Report) - In the first episode of Meltdown, we hear about four men who brought down the global economy: a billionaire mortgage-seller who fooled millions; a high-rolling banker with a fatal weakness; a ferocious Wall Street predator; and the power behind the throne. The crash of September 2008 brought the largest bankruptcies in world history, pushing more than 30 million people into unemployment and bringing many countries to the edge of insolvency. Wall Street turned back the clock to 1929. But how did it all go so wrong?

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Obama, taxes and the ‘Buffett Rule’

Wed, 21 Sep 2011 00:00:00 -0700

Washington Post - By Glenn Kessler - Sep. 21 (Fact Check) - We have to admit we had overlooked this part of President Obama’s Rose Garden speech until we read David Brooks’s column in The New York Times Tuesday accusing the president of being misleading on the issue of taxes. “He repeated the old half-truth about millionaires not paying as much in taxes as their secretaries,” Brooks wrote. We’re not going to get into an argument between Brooks and Obama. We understood Obama’s comments to be specific to the situation that investor Warren Buffett outlined in his famous opinion article in The New York Times, in which he noted that he paid a lower tax rate than other people in his office. But, looking at Obama’s words again, we can see why Brooks thought Obama was saying that in general middle-class families were paying more in taxes than millionaires. (For the record, the White House says that was not Obama’s intent.)

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Obama Calls for New Taxes on Wealthy

Tue, 20 Sep 2011 00:00:00 -0700

Wall Street Journal - By John D. McKinnon, Jared Favole, Damian Paletta - Sep. 20 (News Report) - Obama called for $1.5 trillion in new taxes to help lower the nation's deficit, saying tax cuts for millionaires and billionaires in the last decade helped add to the country's massive debts.

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Obama turns fire on Republicans

Mon, 19 Sep 2011 00:00:00 -0700

Washington Post - By Dan Balz - Sep. 19 (News Report) - The deficit-reduction speech President Obama delivered from the Rose Garden on Monday underscores the sharp strategic pivot he and his administration have made in the wake of the debt ceiling negotiations. Call it lessons learned the hard way, or the necessary readjustment by a politician, but the Obama who spoke on Monday was in a far different place politically and stylistically from the president who tried to pull off a grand bargain with House Speaker John Boehner (R-Ohio) in July and August.

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Texas poverty figures challenge Rick Perry jobs record

Thu, 15 Sep 2011 00:00:00 -0700

The Guardian - By Paul Harris - Sep. 15 (Fact Check) - Republican frontrunner Rick Perry has put his economic record as Texas governor at the heart of his presidential nomination campaign, but a report has painted a stark picture of rising unemployment and spiralling poverty in the state. The policy paper, published by the Austin-based non-partisan Center for Public Policy Priorities, said poverty in Texas was currently higher than the rest of the US and was growing faster. The paper said poverty rates in Texas had jumped from 17.3% in 2009 to 18.4% in 2010, and compared them to figures for the US of 14.3% in 2009, rising to 15.1% in 2010. That suggests there are currently around 4.6m Texans living in poverty, which is currently defined as an income of $22,113 a year for a family of four. Frances Deviney, one of the CPPP co-authors of the study, said the figures showed Texas's recent economic policies were not improving the lot of many ordinary Texans, even though some segments of Texan society did well at high income levels.

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Fact Check: Did the stimulus create “zero” jobs?

Tue, 13 Sep 2011 00:00:00 -0700

CNN - By Chris Mould - Sep. 13 (News) - Texas Gov. Rick Perry said at Monday's CNN/Tea Party Debate that President Obama "had $800 billion worth of stimulus in the first round of stimulus. It created zero jobs. Four-hundred-plus billion in this package, and I can do the math on that one. Half of zero jobs is going to be zero jobs."

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