economy – News Stories About economy - Page 27

Obama, Please
Impose a Gas
Tax: Friedman

OPINION

Dec 28, 2008 10:07 AM CST

Obama, Please Impose a Gas Tax: Friedman

'Systemic approach' essential for environment, economy

(Newser) - It may be hard to sell, but a gas tax would be a “win, win, win, win” move—for the environment, the economy, the war on terror, and America’s standing in the world, Thomas Friedman writes in the New York Times. Barack Obama still has the popularity to...

Shoplifting
Grows as
Economy
Doesn't

Dec 23, 2008 12:27 PM CST

Shoplifting Grows as Economy Doesn't

Desperation, holiday shopping drive thieves

(Newser) - The tough economic climate is driving up shoplifting arrests, and the holiday season is making the situation worse, the New York Times reports. The timing is poor for stores that have had to shrink security staff amid financial woes. “More people are desperate economically, retailers are operating with leaner...

Krugman: Obama Can't Take Crutches Away Too Soon

OPINION

Dec 22, 2008 12:54 PM CST

Krugman: Obama Can't Take Crutches Away Too Soon

Government must remain involved for economy to gain new footing

(Newser) - The Obama administration must resist the temptation to leave the economy to its own devices too soon, Paul Krugman writes in the New York Times. “Getting to the point where our economy can thrive without fiscal support may be a difficult, drawn-out process,” he writes, with no bubble...

Russia Tycoons Seek $78B Kremlin Bailout

Dec 22, 2008 10:33 AM CST

Russia Tycoons Seek $78B Kremlin Bailout

Looming foreign debt forces oligarchs to return power to state

(Newser) - A dozen years after bailing out the Soviet government, Russia’s oligarchs are seeking $78 billion in Kremlin handouts to weather the credit crunch, Bloomberg reports. Russian businesses have racked up some $110 billion in foreign debt due in 2009. The one-year loans, sought by more than 100 companies, would...

Hard Times Bite Dogs, Cats

Dec 22, 2008 6:15 AM CST

Hard Times Bite Dogs, Cats

Out of work owners leave pets at shelters

(Newser) - As man's bills pile up, man's best friend is all too often getting the heave-ho, reports the AP in a look at the economic impact on animal shelters across a recession-battered America. As dogs and cats of broke owners stretch shelters to their limits, the sinking economy also cuts into...

Squeezed Parents Dump Daycare

Dec 21, 2008 2:43 PM CST

Squeezed Parents Dump Daycare

Kids often home alone, but cost 'ludicrous' if 'you can't afford rent'

(Newser) - As the tanking economy squeezes parents with skyrocketing unemployment and foreclosures, experts are noticing that it's the little children who suffer—in the form of fast-emptying daycare centers. As the Washington Post reports, strapped families desperate to cut costs are pulling their kids out of programs that can cost hundreds...

Obama Widens Goals, Now Wants 3M Jobs

Dec 20, 2008 5:37 PM CST

Obama Widens Goals, Now Wants 3M Jobs

Recovery plans grow as advisers predict 9% unemployment

(Newser) - Barack Obama is expanding his plans to reverse the nation’s financial crisis and will seek to create 3 million jobs in the next two years, up from the goal of 2.5 million he proposed last month, the New York Times reports. The new figure follows a meeting in...

Jobless Whites,
Blacks Push Out
Immigrant Workers

Dec 20, 2008 11:48 AM CST

Jobless Whites, Blacks Push Out Immigrant Workers

Tough job market sends foreign-born workers home

(Newser) - Tens of thousands of Hispanic immigrants are leaving the US as out-of-work Americans compete with them for manual labor jobs, the Wall Street Journal reports. Even farms, which once struggled to fill positions, are turning people away because white and black Americans need work. "There is definitely a lot...

Bush: 'I Never Sold My Soul'

Dec 18, 2008 4:43 AM CST

Bush: 'I Never Sold My Soul'

Says he knows he's unpopular

(Newser) - President Bush knows he doesn't have a lot of fans, but is proud that he didn't "compromise my soul to be a popular guy," he tells Fox News. It's particularly tough to like him given the current economic situation, he concedes. "What do you expect? We've got...

73% of Americans Back Obama

Dec 11, 2008 4:19 AM CST

73% of Americans Back Obama

Poll reveals reservoir of national goodwill for prez-elect

(Newser) - President-elect Barack Obama will begin his term of office with an enormous reservoir of goodwill among American voters, according to a Wall Street Journal/NBC News poll. The poll found 73% of adults approve of his preparations to take over, with even 29% of John McCain voters now viewing Barack Obama...

Declines in Gift Cards, Self-Splurges Hurt Retailers

Dec 10, 2008 4:57 PM CST

Declines in Gift Cards, Self-Splurges Hurt Retailers

(Newser) - Naughty or nice, America’s retail stores can’t look forward to two of the holiday season’s usual boons: gift card sales and “self-gifting” splurges, MarketWatch reports. About 44% of shoppers say they will not buy gift cards this year, up from 26% last year, a marketing study...

Couples Rattled
by Recession
Delay Kids

Dec 10, 2008 3:02 PM CST

Couples Rattled by Recession Delay Kids

Babyies too expensive in shrinking economy

(Newser) - Baby booms and busts have long been reliable economic indicators, so it's no surprise that couples facing layoffs and a tough housing market are holding off on pregnancies. Pricey fertility clinics are the first to feel couples' hesitation to reproduce. The magnitude of the economic affect on the American population...

Chinese Exports See
First Drop in 7 Years

Dec 10, 2008 2:32 PM CST

Chinese Exports See First Drop in 7 Years

Unexpected 2.2% fall has analysts fearing major crisis for powerful economy

(Newser) - China’s exports have taken a sudden, unexpected hit from the global economic crisis, possibly an early indication that the world’s fourth-largest economy is on the verge of crisis. Exports, expected to rise at least 15%, shrunk instead by 2.2%, marking the first such fall in 7 years...

Italy Bails Out Parmesan Makers

Dec 10, 2008 1:10 PM CST

Italy Bails Out Parmesan Makers

Government spending $64M to save storied cheese industry

(Newser) - While the US bails out the auto industry, Italy is spending $64 million to save the makers of other wheels: parmesan cheese. Producers of the popular pasta topping have struggled for years to turn a profit, despite strong national and regional appetites. “It’s a tragic situation,” one...

Obama: I Never Discussed My Seat With Blago

Dec 10, 2008 10:05 AM CST

Obama: I Never Discussed My Seat With Blago

Prez-elect talks policy priorities, scandal in wide-ranging interview

(Newser) - The president-elect opined on a variety of issues with the Los Angeles Times yesterday, including how his name will be announced at inauguration (Barack Hussein Obama, as per tradition):

Priorities: He'll start with "a serious investment" in infrastructure for "a green-energy economy."
Centrist Cabinet: He's not

...

Media Frenzy Makes
Recession Worse

OPINION

Dec 8, 2008 12:37 PM CST

Media Frenzy Makes Recession Worse

Sky isn't falling for many, but barrage 'crackling with panic' makes us feel that way

(Newser) - There’s no doubt the economy is bad. The of flood sky-is-falling news stories make that abundantly clear. But the avalanche of bad news—delivered faster than ever before through myriad, ever-present media outlets—has fed upon itself, sinking all of us into a deeper state of collective panic than...

North Dakota Laughs at Your Puny Recession

Dec 6, 2008 12:18 PM CST

North Dakota Laughs at Your Puny Recession

Rectangular wonder has more jobs than it can fill

(Newser) - There may be a recession going on, but you wouldn’t know it by visiting North Dakota, the New York Times reports. The state budget boasts a hefty $1.2 billion surplus, auto sales are up 27%, and unemployment is just 3.4%. In fact, the sparsely populated state has...

US Lost
Half-Million
Jobs in Nov.

Economy

Dec 5, 2008 8:24 AM CST

US Lost Half-Million Jobs in Nov.

Biggest drop in 34 years

(Newser) - November saw 553,000 Americans lose their jobs, according to a Labor Department non-farm payrolls report, the steepest drop in 34 years. The number exceeded even the grimmest predictions in Bloomberg’s survey of 73 analysts. “The labor market capsized in November,” said one economist. “The financial...

Huge Rate Cut Aims to Restart Thai Economy

Dec 3, 2008 8:22 AM CST

Huge Rate Cut Aims to Restart Thai Economy

Central bank surprises analysts as country forms new government

(Newser) - The Bank of Thailand today cut interest rates by 100 basis points, more than any observers expected, as the besieged nation tries to restart its economy. As Bloomberg reports, the 6-month protest that ended with the ouster of PM Somchai Wongsawat sapped exports and aggravated the pain of the global...

Obama Must Forget Agenda, Fix Economy

OPINION

Dec 1, 2008 1:55 PM CST

Obama Must Forget Agenda, Fix Economy

Now isn't the time for divisive legislative battles: Samuelson

(Newser) - When Barack Obama takes office, he’ll have to decide whether he wants to revive the economy, or pursue his policy agenda. “The two approaches are at odds,” writes Robert Samuelson in the Washington Post. Yes, Obama could say energy and health reform will improve the economy, but...