economy

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Forget Health Reform&mdash;We Can't Afford It
Forget Health Reform—We Can't Afford It
OPINION
Sep 10, 2009 8:50 AM CDT

Forget Health Reform—We Can't Afford It

The economy should be Obama's top priority: Henninger

(Newser) - Barack Obama makes health care sound like the most pressing issue in American life, but with unemployment at 10% and the country still officially in recession, Daniel Henninger wonders why he's "draining a dwindling reservoir of presidential capital." The cost of health care may be a problem for...

House Dems' Health Plan Half the Cost of Bush Tax Cuts

Cuts to cost $2.1 trillion over a decade; Dems' plan to cost $1 trillion

(Newser) - The House Democrats’ health care plan would cost just half of what President Bush’s tax cuts cost the country, a report by left-leaning researchers says. While the analysts project Bush’s cuts will cost $2.1 trillion in lost revenue over the 10 years since they were enacted, the...

'European Model' Could Die: French PM

'Sluggish growth' may destroy safety net, job security

(Newser) - The prime minister of France, the country perhaps most associated with the cherished "European model" of job security and social safety nets, warned today that it may prove unsustainable because the region's economies are too stagnant. "With this sluggish growth, we cannot preserve the European social model or...

America: Why So Furious?
 America: Why So Furious? 
ANALYSIS
Aug 30, 2009 4:30 PM CDT

America: Why So Furious?

Terrorism, recession, economy drive nationwide rage

(Newser) - With town halls gone mad and anti-Obama protesters toting guns, this is America’s angriest summer in recent memory, McClatchy reports. The fury of voters has deep roots, from a long history of hate groups to anti-Vietnam marches to rage against George W. Bush when he left office—but it’...

Lousy Retail Sales Will Delay Recovery

Recession isn't over as far as consumers are concerned

(Newser) - If the recession is indeed waning, nobody told consumers. Retailers of every kind reported lousy sales for the quarter ended Aug. 1, the Wall Street Journal reports. Target’s same-store sales fell 6.2%, Home Depot’s dropped 9.1% and Saks’ plummeted a whopping 15.5%. And with unemployment,...

Economy Is Only Recovering on Paper
Economy Is Only
Recovering on Paper
Analysis
Aug 12, 2009 9:03 AM CDT

Economy Is Only Recovering on Paper

(Newser) - If you’re the glass-half-full type, recent economic indicators look good: Unemployment fell last month, the savings rate is up, and productivity hit a 6-year high. But that same data proves that ordinary people aren’t likely to feel the good vibrations anytime soon, the Washington Post reports. “It's...

Unemployment Will Probably Miss 10%: Silver
Unemployment Will Probably Miss 10%: Silver
Analysis
Aug 10, 2009 11:52 AM CDT

Unemployment Will Probably Miss 10%: Silver

(Newser) - Lots of economists are predicting that unemployment, which at last count hung at 9.4%, will hit 10% before the calendar changes, but Nate Silver of FiveThirtyEight.com disagrees. For that to happen, the economy would need to lose another million jobs or so, and "the jobs picture is...

Reappoint Bernanke: Krugman
 Reappoint Bernanke: Krugman 
Aug 10, 2009 11:21 AM CDT

Reappoint Bernanke: Krugman

(Newser) - If there’s any justice, Ben Bernanke will get another go-around at the helm of the Federal Reserve, Paul Krugman tells Bloomberg. “He’s earned the right to a second term,” the Nobel laureate says. “When the banking system failed to deliver capital where it was needed,...

Big Government Prevented Great Depression II
Big Government Prevented Great Depression II
OPINION
Aug 10, 2009 8:22 AM CDT

Big Government Prevented Great Depression II

...And Republicans kept demanding that it step aside and allow it

(Newser) - The economy isn’t in great shape, but we’re going to avoid Great Depression II, writes Paul Krugman in the New York Times. “What saved us? The answer, basically, is big government.” Unlike the private sector, the government didn’t decrease spending as its income decreased, which...

China's eBay Thrives in Global Downturn

(Newser) - China's version of eBay is flourishing despite a crawling global economy and critics accusing the company of abetting black marketeers, the New York Times reports. Started 6 years ago, Taobao.com offers free listings, which forced eBay out of China and lured 120 million users who generate $15 billion in...

Posh Resort Offers $19 Empty Room —With Tent

(Newser) - A chic San Diego hotel is offering rooms for only $19 a night—without toiletries, towels, sheets, or a bed, the San Diego Union-Tribune reports. “It's our way of getting people here that might not normally come," says Rancho Bernardo Inn manager John Gates. Taken over by...

Stimulus Worked: Economists

 Stimulus Worked: 
 Economists 
Aug 7, 2009 10:14 AM CDT

Stimulus Worked: Economists

Good news for prez ahead of today's job-loss report

(Newser) - President Obama’s stimulus package appears to have helped the economy bottom out more swiftly, an economists’ report says. Analysts hold that the stimulus boosted economic growth by about a percentage point in the second quarter—not enough to keep the economy from shrinking but enough to slow the pace...

Women of the Future: Powerful, Stressed

Women feel overworked amid gains in economic clout

(Newser) - Women are gaining economic clout, but they’re also feeling overburdened, a survey of 12,000 women in 21 countries finds. Women spend some 70% of consumer dollars globally and are set to produce 70% of household income growth in the next 5 years—meaning entrepreneurs who can help them...

Geithner Won't Rule Out Middle Class Tax Hike


 Geithner Won't 
 Rule Out 
 Middle Class 
 Tax Hike 
TALK SHOW ROUNUP
Aug 2, 2009 10:00 AM CDT

Geithner Won't Rule Out Middle Class Tax Hike

Romer says the economy hasn't bottomed yet

(Newser) - President Obama’s top economic advisers fanned out across the Sunday talk shows today, with Tim Geithner leaving open the possibility that Obama would renege on a campaign promise not to raise taxes on the middle class. “We’re going to have to do what’s necessary” to revive...

Obama: the Economy Is on the Mend (if Slowly)

(Newser) - Citing fresh evidence that the economy is on the road to recovery, President Obama this morning credited his $787 billion economic stimulus program for helping "put the brakes on this recession," and cautioned that full recovery will take many more months. The country's future economic prosperity depends on...

GDP Slows Descent, Falls Just 1%

(Newser) - The US economy contracted in the second quarter, but it was a mild decline that beat analyst estimates, Bloomberg reports. GDP fell 1%, less than the 1.5% economists predicted, and a heck of a lot less than the 6.4% and 5.4% drops seen in the two previous...

Upbeat Earnings Have CEOs Singing Rebound

(Newser) - CEOs and investors have springs in their steps. After a week full of positive earnings reports, many now believe worst is over, the Wall Street Journal reports. Yesterday saw a slew of reports that matched or beat estimates, including Motorola, Goodyear, Sony, and Kellogg Co. The economy “has found...

Fed Sees More Signs of Recovery

(Newser) - The economy is finally beginning to show signs of stabilizing in some parts of the US, bolstering hopes of a broader-based recovery this year. A Federal Reserve snapshot of economic conditions issued today finds that most of the Fed's 12 regions indicated either that "the pace of decline has...

Dems' 2010 Prospects Start to Dim

 Dems' 2010 
 Prospects 
 Start to Dim 
ANALYSIS
Jul 29, 2009 9:16 AM CDT

Dems' 2010 Prospects Start to Dim

Economy plagues party whose future looked brighter months ago

(Newser) - Things looked rosy for the Democrats in January—but amid economic concerns and trouble for party governors, 2010 could be tougher than expected, Politico reports. Midterm elections typically favor the opposition, and “we don’t have the burden of Iraq as we did in 2006 and don’t have...

In Recession, Homeowners Nail Contractors

As many vie for projects, consumer gains the upper hand

(Newser) - Hiring a contractor to remodel a kitchen or resurface a floor once meant a lot of hassle and some serious cash. But the recession has changed all that: Contractors these days are ready and willing to work on the cheap, Time reports. Projects are smaller, and spending on remodeling is...

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