economy

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Romney: Hope Again With Me

He hails Bain record, talks of 5M jobs plan

(Newser) - A smiling Mitt Romney grasped hands all the way to the stage before a booming Republican National Convention tonight to hail his record at Bain Capital, lash President Obama's failed "hope and change" that America "deserved," and present his vision for the future. He pointedly wooed...

Ryan: It&#39;s the Economy, Stupid

 Ryan: It's the 
 Economy, 
 Stupid 
UPDATED
Aug 29, 2012 8:47 PM CDT

Ryan: It's the Economy, Stupid

He hits unemployment, debt, ObamaCare

(Newser) - Paul Ryan hit President Obama hard tonight on the nation's economic troubles—and ObamaCare—and offered a "clear choice" and goal to cut debt and put Americans back to work. "After four years of a runaround, we need a turnaround," he declared in his acceptance speech...

Romney Win a Sure Thing: Election Model

Model based on economy would have correctly predicted last 8 elections

(Newser) - Forget polls. If you want to know who's going to win in November, it's the economy, stupid. A new prediction model based on state-by-state economic data predicts that Mitt Romney will prevail with 320 electoral votes, snapping up nearly all of the key swing states, to President Obama'...

Fed Signals It's Ready to Act Soon on Economy

Minutes of meeting show members worried about recovery

(Newser) - Federal Reserve officials spoke with increased urgency at their last meeting about the need to provide more help for a weak US economy. In fact, many felt further support would be needed "fairly soon" unless things improved significantly. The minutes of the July 31-Aug. 1 meeting don't say...

These Dates, Figures Might Decide Presidency

For starters, the last unemployment report is out Nov. 2: analysts

(Newser) - We've got three months to go before the election, and political gurus Larry Sabato and Kyle Kondik lay out some potential game-changers in the presidential race in the Wall Street Journal :
  • Sept. 7, Oct. 5, Nov. 2: The dates of the remaining unemployment reports. The last one in particular
...

Fed: No New Stimulus, for Now
Fed: No New Stimulus
—for Now
Aug 1, 2012 1:47 PM CDT

Fed: No New Stimulus —for Now

Ben Bernanke and crew see the economy slowing but will stand pat

(Newser) - Wall Street has been waiting anxiously for a few days now to see what the Fed was going to do about the economy, and the answer arrived this afternoon: Nothing. For now. The Fed sees evidence that the economy has actually decelerated in recent months, reports MarketWatch , but it's...

Mississippi River Drying Up
 Mississippi River Drying Up  
Jul 30, 2012 6:16 PM CDT

Mississippi River Drying Up

Shipping industry shivers at the thought

(Newser) - The worst US drought in 50 years is making the mighty Mississippi River dry up and could curb shipping there altogether, reports Time . Dry conditions mean narrower, shallower passageways, so shippers are lightening their loads to avoid running aground. That could be huge, because 60% of the country's grain...

Kim Plans Economic Overhaul in N. Korea

General's ouster paves way for reform: insider

(Newser) - After North Korea's top military leader was removed from the post, observers wondered why; now an explanation seems to be taking shape. Vice Marshal Ri Yong Ho, seen as a close ally to Kim Jong Il, didn't want to see sweeping changes to the country's economy—but...

Bernanke Predicts 7% Unemployment in 2014

Dour Fed gives no clue as to quantitative easing plans

(Newser) - Ben Bernanke sounded a dour note in his testimony before Congress today, predicting slow growth and stubbornly high unemployment, with no hint that the Fed intended to do anything about it. "The US economy has continued to recover, but economic activity appears to have decelerated somewhat," he said,...

'Tough' New Car Designed for Sale ... in Africa

Mobius Two can fit eight people and haul large cargo

(Newser) - Africa, meet the $6,000 car. Mobius Motors plans to sell Africa a new vehicle, the Mobius Two, even though the entire continent has just a $15 billion market (about $485 billion lower than America's). But the Mobius Two could revolutionize the economy in a land where hundreds of...

State and Local Spending Drops to Lowest in 30 Years

Democrats and Republicans alike slashing budgets

(Newser) - State and local governments have cut back spending to the lowest level in 30 years, according to a USA Today analysis. Both Democrats and Republicans are denying handouts, even with tax revenue going up and powerful interest groups lobbying for funds. Local and state spending dipped 0.8% this year...

Romney to Florida: Hush Up on the Great Jobs News

Sources say campaign feels Rick Scott's good news is off message

(Newser) - Florida Gov. Rick Scott has been touting the Sunshine State's sunny jobs news—and the Romney campaign would like his forecast to get a little cloudier, two sources tell Bloomberg . Scott's re-election campaign recently boasted that Florida's unemployment rate dropped to 8.6% in May from 8....

Obama, Romney Agree: My Rival Will Wreck Economy

Candidates deliver dueling speeches in Ohio

(Newser) - President Obama and Mitt Romney gave their competing versions of how to fix the economy during Ohio speeches today, with their common advice being, don't elect that other guy. Some quotes getting play:
  • Obama: “What’s holding us back is a stalemate in Washington between two fundamentally different
...

2010 Clinton Speech Could Trip Obama Today

Because he's giving his speech today in the same place

(Newser) - President Obama is set to give a speech in Ohio today, but his choice of venue might prove kind of awkward. Bill Clinton spoke at the same Cleveland-area community college ahead of the 2010 elections, USA Today points out, and he said these unwise-in-hindsight words: "We found a big...

Wages Flat Since Obama Took Office

It could be big topic tomorrow, as Romney declares 'talk is cheap'

(Newser) - Wages have stayed virtually frozen since President Obama took office, a fact that Politico notes is starting to get some traction on the campaign trail. When adjusted for inflation, the average hourly wage has crept up a meager 42 cents to $23.41 since 2008. High unemployment is a factor,...

Obama Clarifies: Economy 'Not Doing Fine'

Romney: First statement is a historic gaffe

(Newser) - President Obama sought to limit the political damage from his statement this morning that the "private sector is doing fine." At a subsequent event, he declared, "It is absolutely clear that the economy is not doing fine," reports MSNBC . One Republican after another had beaten up...

Obama: 'Private Sector Is Doing Fine'

Republicans pounce; Obama says Congress has 'no excuse' to dither

(Newser) - President Obama used a White House press conference today to chide Republicans for blocking his jobs proposals—"If Congress decides not do anything about all this because it’s an election year, they should explain to the American people why"—and to urge European leaders (in what MarketWatch...

Economy's Silver Lining: Lower Gas Prices

Falling oil prices make life easier at the pump

(Newser) - One bright spot amid the latest economic news : Gas prices are falling nationwide, and fell below $2.99 at two gas stations yesterday, the AP reports. Not all consumers will be so lucky, but plunging oil prices have lowered pump gas by an average of 30 cents a gallon in...

Jobs Report as Bad as Can Be
 Jobs Report as Bad as Can Be 
OPINIONs
Jun 1, 2012 12:43 PM CDT

Jobs Report as Bad as Can Be

And it's very bad news for the White House

(Newser) - You don't have to look at the sinking Dow—which is now in negative territory for the year—to get a sense of just how bleak today's jobs report was. A glance at financial blogs offers a depressing reminder:
  • Felix Salmon, Reuters : It's "about as bad
...

The Jobless Stat You Should Worry About

People in their prime working years aren't finding jobs

(Newser) - The unemployment rate may be improving, but that doesn't mean the job market is, and there's one group in particular that's having an alarmingly hard time finding work: People in their prime working years. Only 75.7% of people aged 25 to 54 have jobs, the Washington ...

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