economy

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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...

Risk Aversion Keeps Loans Shrinking

Trend suggests economy has a long way to go

(Newser) - Lending is still on the downswing, the Wall Street Journal finds, as an analysis of 15 banks' total loans on offer in the second quarter shows another 2.8% decline. What's worse, more than half of April and May’s loan volume was tied to refinanced mortgages and renewed credit...

Recession Is Kaput; Now for the 'Smart Economy'
Recession Is Kaput; Now
for the 'Smart Economy'
ANALYSIS
Jul 26, 2009 4:23 PM CDT

Recession Is Kaput; Now for the 'Smart Economy'

(Newser) - The Great Recession is cooling off, but Americans will feel the heat for a while—because recovery is tricky this time, Daniel Gross writes in Newsweek. Another economic bubble inflated by consumption would be a mere Band-Aid. That's why President Obama is trying to create a four-sided "smart economy"...

Barnes: Obama's an 'Economic IIliterate'

(Newser) - President Obama has big plans for the economy, and that’s too bad because he knows nothing about it, Fred Barnes writes in the Weekly Standard. All of his proposals and angry jabs at Wall Street are counter to his professed interest in growth and job creation. “Obamanomics pays...

Minimum Wage Rises to $7.25
 Minimum Wage Rises to $7.25 
Jul 24, 2009 11:45 AM CDT

Minimum Wage Rises to $7.25

Some say hike will hurt small business; others hold it'll boost economy

(Newser) - The minimum wage today jumps 70 cents to $7.25 an hour, a move that rekindles a debate as old as the wage itself, notes the Atlanta Journal-Constitution. Some worry that the increase puts an unfair burden on small businesses, especially with times so tight; others say low-wage earners will...

Good News: We've Hit Bottom!
Good News: We've Hit Bottom!
Analysis
Jul 24, 2009 9:13 AM CDT

Good News: We've Hit Bottom!

Of course, the bad news is: We've hit bottom!

(Newser) - Former Fed vice chairman Alan Blinder has some good news and some bad news about the economy, and it’s the same news: We’ve hit bottom. Third-quarter GDP should turn positive, and the fourth quarter could even hold an upside surprise. Growth of 3% or even 4% is utterly...

Things We Want, and Don't, in Odd Recession

Hard-times staples fall by the wayside

(Newser) - The current economic crisis is breaking the recessionary mold, Time reports, with American purchases running counter to expectations. A few surprises:
  • Soup isn’t selling. Typically, the cheap, decent food is a recession staple, but health concerns and rising prices may be driving us away from it.
  • Organic food sales
...

Obama's Poll Numbers Dive
 Obama's Poll 
 Numbers Dive 
Jul 21, 2009 9:57 AM CDT

Obama's Poll Numbers Dive

(Newser) - The public is rapidly losing faith in President Obama, new polls show. His overall approval rating is below 60%—a USA Today/Gallup poll gives him 55%, putting him 10th among the 12 post-World War II presidents after six months in office. A Public Trust Monitor/Politico survey finds 54% trust Obama,...

Poll: Obama Sinks Below 50% on Health Care

Numbers drop on health care, economy, deficit

(Newser) - President Obama’s approval rating on health care has dropped from 57% in April to below half for the first time, as resistance heats up, even among Democrats, to the reform bill working its way through Congress, a Washington Post-ABC News poll finds. Some 49% approve and 44% (up from...

Is Obama Turning Into Carter?
 Is Obama Turning Into Carter? 
Jul 20, 2009 8:28 AM CDT

Is Obama Turning Into Carter?

(Newser) - Facing a burdensome political agenda, decreased popularity, and widespread opposition to his key policies, President Barack Obama appears poised to become the next Jimmy Carter, Matt Welch and Nick Gillespie write in the Washington Post. Both are "smart, moralistic" presidents who inherited brutal economies, but both responded with top-heavy...

Paulson: BofA-Merrill Deal Saved US From 'Great Peril'

Actions saved nation from 'great peril,' he says

(Newser) - Former Treasury Secretary Henry Paulson says his role in Bank of America’s acquisition of Merrill Lynch was appropriate and necessary, MarketWatch reports. “I am confident that our responses were substantially correct and that they saved this nation from great peril,” Paulson told a House oversight committee today...

White House Gets Tough on Congress' Critics, Skeptics

Obama defends stimulus, pushes health reform

(Newser) - The White House is cracking down on its critics—and on laggards within the Democratic Party, too. Republican naysayers on the economic stimulus and health care are getting the roughest treatment, Politico reports. After Kentucky Sen. Jon Kyl railed against the efficacy of stimulus spending, four Cabinet secretaries wrote to...

Obama: Expect Jobless Rate to Rise Further

Hiring 'typically lags' after recovery begins

(Newser) - President Obama expects unemployment to continue to “tick up” for a few months, Reuters reports. “We have seen some stabilization in the financial markets, and that’s good, because that means that companies can borrow and banks are starting to lend again,” he said today. But “...

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