US Economy

Half of All Americans Either Poor or Low Income
The most recent Census has revealed that roughly half of all Americans are either deemed "poor" or "low income," a fact that can’t be fixed unless the president and congress are willing to stop wasteful spending in certain key areas.

What the 99% Have Gotten Wrong
The author's examination of the 99% movement and their drastic flaw in their logic. Admitting there are problems with our economic system but showing that throwing the baby out with the bath water is not a strategy for success.

Fed Cuts GDP Forecast, Considers Further Action
The Fed voted against another round of quantitative easing in its most recent meeting, but is considering purchasing mortgage-backed securities.

Over 100 Protesters Arrested in Occupy Boston Demonstration
Boston Police arrested over 100 demonstrators and tore down tents early on Tuesday morning, as tensions continue to escalate surrounding the growing Occupy Movement.

Joe Biden Says Obama Administration Accountable for Economic Woes
Joe Biden told a Miami radio station that the current state of the economy is the responsibility of his administration, regardless of the mistakes made under George W. Bush.

Bill Clinton Disagrees with Obama Tax Plan
President Obama is already in a tough situation as it regards his re-election chances, but now Bill Clinton is saying his ideas just aren't that good.

Markets Await Fed Announcement with Little Hope for Long Term Growth
Markets in the U.S. opened flat today as investors and traders wait to get confirmation that the Fed is going to implement yet another round of Quantitative Easing.

Most Americans Do Not Believe They Will Ever Be a Millionaire
A recent poll found that not many Americans or Britons believe they’ll become millionaires I the next decade, perhaps reflecting the poor state of the world economy.

Jobless Claims Spike, Markets Still Climb as Global Economy Staggers
New unemployment claims were up to 428,000 last week, the highest numbers since June, further enforcing the fear that the economy is mired for the long term.

Obama Challenges GOP, Suggests Infrastructure Spending to Create Jobs
President Obama made an impassioned plea to the GOP and Congress to spur job creation through infrastructure spending on bridges and roads across the U.S.

Employment Numbers Stagnate in August, Fears Rising
According to today's report from the Department of Labor, U.S. employers added no new net jobs during the month of August, a disappointing result as the economy is still showing no signs of life.

A Look Back at America’s Corporate Welfare System
Corporate welfare in the United States is out of control – for proof, just take a look at what the biggest banks did back in 2008.

Bernanke Says He Will Aid Economic Recovery Gradually
The Fed may step in with more measures to help the economy, but has already spent all of its big weapons in the fight against a second recession.

What is a Jobless Recovery?
What happens when an economy is cutting back on jobs, but is still experiencing growth? Is it possible? Learn more about this phenomenon, called 'jobless recovery'.

U.S. Deficit "Super Panel" Gets Its 6 Republican Members
The special U.S. deficit panel got its six Republican members yesterday, with just three more Democrats left to be selected as of Wednesday evening.

Create Jobs in America: Stop Building Banks
A simple plan to get Americans back to work.

Federal Reserve to Keep Interest Rates Low for Next Two Years
The Federal Reserve did not announce another round of quantitative easing yesterday, but did promise to keep interest rates low for the next two years.

What is the Gang of Six Plan
The gang of six is a group of six senators which consist of three democrats and three republicans. The six senators are chosen to propose a plan that will help in reducing the deficit and in preventing the debt ceiling. And this is called the Gang of Six Plan. Read More...

What Causes the Middle Class Squeeze
What do you understand by the term "middle class squeeze"? I am sure, most of the people living a middle class lifestyle will surely find themselves familiar with this term. Read on, to know what does it mean and what are the causes behind it.

President Says More Work Still Needed on U.S. Economy
President Obama says a lot more has to be done to right the U.S. economy, including more taxes on the wealthy, who already bear the brunt of income taxes each year.

Jobless Claims Drop to 3-Month Low, Economy May Be Warming
Jobless claims were down and housing purchases up over the past month, a sign that the economy might finally be turning around.

Bernanke Says Fed Will Add More Stimulus if Necessary
Ben Bernanke noted in his address to Congress that another round of stimulus may be in order from the Fed.

New Jobs Data Leaves U.S. with Few Options
With new job creation dropping to historic lows, soaring deficits and near-zero interest rates, the U.S. is out of policy bullets to fight the lingering recession.

New Deal Effects
In a broad sense, New Deal effects on the United States can be broadly categorized into political effects and socioeconomic effects. Join us as we assess these effects of New Deal to see whether it was successful or not.

What is the Dollar Bill Made of?
Currency notes are usually made of paper. However, the US one dollar bill is not made of paper, but of a material that will come as a surprise to you. Find out all about what is the dollar bill made of, by going through the following article.

Free Trade Zones in the United States
A short write-up on free trade zones in the United States of America, which will help you get rid of all the myths associated with this concept. Continue reading for more information on free trade zones aka Foreign Trade Zones in the United States.

The Laffer Curve and Taxation in the United States
The Laffer Curve is based on very old economic reasoning, but it was made popular in the 1970s, used as the basis of many supply-side arguments in the 1980s and is oddly relevant again in the modern-day.

Panic of 1819
Going through the Panic of 1819 summary given below will help you understand how the United States of America was subjected to its first financial crisis, and what were its repercussions on the US economy.

New Deal Coalition
In the following article, a brief yet comprehensive overview of the New Deal Coalition of the United States has been given, which has laid the foundations of modern-day Democratic party. The New Deal was a socio-economic and political movement led by Franklin Roosevelt to combat all possible problems that United States was facing at the time of the Great Depression...

Economic Problems in the United States
Want to know the causes of economic problems in the United States? Read on to know the various economic issues faced by the United States, in this article.

US Heading Back Into Recession?
Is the US heading back into recession? The scenario could be very likely as layoffs are back and the economic recovery is slowing down.

Causes of Unemployment in the United States
In the followings article, a small list of legitimate causes of unemployment in the United States has been discussed. To know more about unemployment in United States and its causes related thereof, read on...

Middle Class Income Range
The aim of this article is to explain what is the middle class income range and what are the factors which are to be considered to calculate this income range for middle class. Read on to know more.

Dollar Diplomacy
Dollar diplomacy, a foreign policy of the government of United States of America saw the emergence of the USA by increasing its sphere of influence through economic means. Read on, to know what dollar diplomacy means and who coined this term.

Second Wave of the Housing Crisis
If you thought that you were in the recovery phase of the massive housing loan crisis that had engulfed the entire world in its aftermath, the worse is yet to come. The predicted second wave of the housing crisis is supposed to be meaner and uglier, say analysts. If the second wave of the housing crisis does hit us, as predicted by many, we can just hope that it will not fit in, with the ominous 'worst is yet to come' prediction.

US Economy Grows
The US economy has grown at a rate of 3.5%. Does this signal the end of the recession?

History of The Canadian Dollar
Canada is the world's second largest country with regards to total inhabited and uninhabited area. Occupying most of the region in north of the North American continent, the Canadian Government adopted its first currency, 'dollar' form, in 1841.

History of American Money
The United States of America has one of the most developed economies in the modern era. The dollar has become one of the most important units of monetary exchange and measurements. To find out more about the evolution of a dollar and history of American money read on.

American Recovery and Reinvestment Act of 2009
The American Recovery and Reinvestment Act of 2009, is an important step taken by the United States Congress, in order to fight the ongoing economic crisis. Read on to know more about this act.

Government Rescue Plan Explained
Details of the financial bailout plan are released to allay consumer fears about the economy.

America's Economy is Coming Down!
Economists and pastors seem to acknowledge one thing: America’s economy is on its pathway to an "accident waiting to happen", an imminent major crisis. See what both sides have to say about it.

When Do "We" Want a Trade Deficit?
Say the words "trade deficit" on the wrong corner in Washington, and you may just find yourself surrounded by unhappy men in gray suits. "Don't make a stink about this," they'll tell you. "You're being un-American. We've always had a trade deficit, all the way back to the Revolutionary War!"

Corporate America is Ruining America
Remember the American Dream? The land of plenty, the land of opportunity, the land built by the blood, sweat, and tears of small businesses? That vision is fast disappearing in the rearview mirror.

Data Shows Rapid Increase in U.S. Small Business Borrowing
The Thompson Reuters/PayNet Small Business Lending Index showed a 26% increase in May from last year's same-month activity.

Federal Reserve Sees Slower Growth, But No Sign of QE3
The Federal Reserve will cease its bond-buying program, and has issued a statement that the remainder of 2011 is likely to be rough for the economy.

President Obama Making the Rounds, Promising Jobs
President Obama continues to stump about the economy not being all that bad, but for those unemployed, the situation remains quite bleak.

AP Survey Shows Great Optimism About U.S. Economy
According to a survey or economists, the U.S. economy is rebounding and can be knocked of course only by oil price shocks.

Obama Says Housing Market Holding Back U.S. Economy
While speaking at the headquarters of Facebook, President Barack Obama said that the weak U.S. housing market is the biggest impediment to a more significant economic recovery.

College Students Remain Upbeat Despite Terrible Economy
The economy may be brutal and prices are getting out of hand, but young people are largely optimistic about their futures.

GOP Planning Major Budget Cuts in New Proposal
Republicans have put forth a bold new plan to cut spending that some Democrats think goes to far, but which is perfectly in line with the president's bipartisan committee set up to explore the issue.

February Sees Record U.S. Federal Budget Deficit
The federal government ran its largest deficit ever in February, but it's only the beginning of ever-more crushing deficits and debt if spending isn't reined in soon.

Obama Official’s Budget Prediction is Pain
The Obama budget will seek to cut spending by $1.1 trillion over the next decade, but Republicans say it doesn’t go far enough in the near term.

Ben Bernanke Says U.S. Economic Recovery Requires More Job Gains
Ben Bernanke notes that employment must increase drastically for a true economic revival to occur, but appears to have little fear of inflation.

CBO Reports that 2011 Budget Deficit will Reach $1.5 Trillion
The deficit in the U.S. is growing at such an alarming rate that a major lifestyle change (for the worse) likely awaits each and every U.S. citizen.

Obama Has Stated Goal of "Putting the Economy Into Overdrive"
The president spent much of his early time in office reeling from economic turmoil and then trying to pass his signature health care bill – now, he seems to have come around to the old wisdom that it’s all about the economy.

U.S. Government Debt Tops $14 Trillion, Congress Must Act
The powers that me in U.S. bureaucracies are calling for an increase in the debt limit, but some in Congress are touting spending cuts instead, to which we say…get moving, cause this pig’s got plenty of fat to cut out.

Consumers Spending Money Like They Have it in U.S.
Consumer spending has been increasing of late, signaling better times ahead in 2011 and revised estimates for spending in the 4th quarter of 2010.

At Long Last, Economic News Turns Positive
There hasn’t been much good economic news for some years, but finally the AP’s "economic stress" indicator seems to be slowly falling.

Consumer Prices Rise, But Inflation Largely Held in Check
The Consumer Price Index rose last month, but a measure of core items remained unchanged for the third straight month, putting to bed concerns over inflation.

Economists Envision Slow Recovery Throughout 2011
Once looking for a greater recovery in 2011, economists have pulled back on their projections for improvement next year.

Bank Bailout Program Officially Ends October 3rd
The Troubled Asset Relief Program launched in 2008 to save the financial industry is set to expire on October 3, 2010.

AIG and Federal Government Come to New Repayment Agreement
After converting preferred shares to common stock, the U.S. government will own over 90% of AIG, but will be able to sell its shares at a potential profit to taxpayers.

Obama Calls for New Infrastructure and Hails Jobs Program
Obama rolls out "new" jobs plan and directs criticism at Republicans who, in turn, are asking where the jobs are that were promised over a year ago.

Consumer Spending and Incomes Rise Slightly in July
Two economic indicators inched upward in July, but the news has done little to quiet talk of a double dip recession.

Existing Home Sales at Lowest Level in 15 Years
The housing market is not recovering sufficiently to support an overall economic recovery.

AIG Repays $4 Billion of Government Bailout, Many More Billions Owed
An aircraft leasing arm of AIG restructured its debt and was able to raise nearly $4 Billion, which was used to make a payment to the U.S. government.

President Obama and Republicans Wide Apart on Economic Issues
Obama blames Republicans for years of policy that lead to the recession, but fails to acknowledge his own party’s role in that mess.

President Obama Pushes for Financial Overhaul Over Weekend
President Obama urged lawmakers to pass a bill to overhaul Wall Street over the weekend, and ignored the grumblings of Republicans who seem intent on perpetuating the status quo.

Economy Continues Rebound, But Growth Slower Than Expected
The weak U.S. economy continued to grow in the first quarter of 2010, but revised numbers show that the growth was lower than initially thought.

U.S. Home Prices Fall, Correction Still in Progress
U.S. home prices fell .5 percent from February to March despite historically low mortgage rates and government incentive programs.

Senate Passes Financial Reform Bill
A controversial financial reform bill has passed the Senate and now must be reconciled with a House bill before reaching the desk of President Obama.

Geithner Notes that Financial Crisis Could Have Been Less Severe
Timothy Geithner, speaking in front of a panel investigating the causes of the financial crisis, noted that things didn't have to be as bad as they were.

Consumer Spending Jumps, Economy Strong in Q1
The U.S. economy grew at a solid rate of 3.2 percent during the first quarter, buoyed by the largest increase in consumer spending in three years.

Home Sales Rise As Unemployment Claims Drop
Unemployment dropped and home sales rose last month, but many are warning that the good news is going to be short lived.

Obama Urges New Financial Regulation to Stave Off Crisis
President Obama wants to crack down on the financial industry to avoid another crisis, but there is pushback from Republicans in Congress.

Retail Sales Beat Forecast, Consumer Confidence Growing
Retail sales increased 1.6 percent in March, beating analysts' forecasts and providing an indication that consumers are feeling more confident about an economic recovery.

Economists See Slow Economic Recovery Into 2011
In a poll of economists put forth by the Associated Press, doom and gloom in the form of limited and slow recovery appears to be likely for the next two years.

November Pending Home Sales Dip Significantly
Pending sales of existing homes fell dramatically in November, indicating that the U.S. housing market may be the last segment to see a recovery.

Debate Rages Over New Jobs Bill and the National Debt
The House has already passed a massive bill to increase debt and "create" jobs, but those in the Senate are more wary of such a measure.

Economic Recovery Weaker than Previously Thought
The US economy is recovering from a deep recession, but not quite as fast as early estimates had anticipated.

Obama Urges Spending to "Create Jobs" and Stimulate Economy
President Barack Obama is suggesting a new massive round of stimulus funding, but failing to acknowledge that the government never actually "creates jobs."

Biden Cheers Economic Stimulus, But Ignores Facts in the Process
Joe Biden is cheering the Recovery Act and the Obama administration for helping the economy – problem is, the money from the Act is being woefully mismanaged, isn’t creating jobs and, in the long run, will probably just lead to higher long-term interest rates due to massive debt incursion.

Consumer Sentiment Rises More than Expected
In another sign that the recession is easing, U.S. consumer sentiment rose to its highest level since the recession began.

Cash for Refrigerators is Next Stimulus Program Set to Launch
With Cash for Clunkers now in the rear view mirror, the next federal stimulus package will focus on household appliances.

Huge Increase in July Home Sales Signals More Optimism for Economy
Existing home sales in the U.S. jumped more than 7% for the month of July, the largest such increase in at least 10 years and a strong indication that the housing market is gaining traction in its recovery.

Recession Fighting Back in July, New Recovery Concerns for Economy
Consumer spending fell and new jobless claims rose unexpectedly in the month of July, reinforcing worries about just how fast the economy can recover from the recession.

U.S. Bailouts Reach $4.7 Trillion, No End in Sight
The U.S. economy and overblown bailouts are a massive disaster, despite what the bureaucrats are shoveling.

U.S. Budget Deficit Moves Over $1 Trillion, First Time Ever
U.S. budget deficits have reached unprecedented levels, and unless something is done about it, there is no end in sight to higher interest rates and a wallowing U.S. housing market.

Obama Administration Restricts Executive Pay
The Treasury Department is going to be overseeing the employee compensation plans of seven of the largest US companies.

Recession May be Coming to a Close, But Rough Waters Ahead
While some economic indicators point to a recovery, higher unemployment numbers are expected and fears of inflation, always present as the economy pulls itself out of a recession, are back in full force.

Fed Plans to Pump $1.2 Trillion into Economic Recovery
Ben Bernanke and the Federal Reserve have announced a plan to release a massive $1.2 trillion into the U.S. economy in hopes of spurring a late-2009 recovery.

Warren Buffett Says Economy has "Fallen Off a Cliff"
Warren Buffett, ever the optimist, is speaking in metaphors to describe the U.S. economy, but remains optimistic about the long-term health of the economy.

President Obama Spins Current Crisis, Speaks of "Opportunity"
President Obama continues to face difficulties revolving around the U.S. economy, but his message of hope and better days ahead is a reminder of his ambitious plans.

Is the Stimulus Package Just Politics as Usual?
Now that all the pomp and circumstance has faded, what is really going to happen as a result of the stimulus bill and is it really going to make a difference?

Stimulus Plan Now Includes Tax Break for Home Buyers
In what is being viewed as a victory for Republicans, the Obama stimulus plan now includes up to a $15,000 tax credit for home buyers.

Buy American Stimulus Comes Under Fire from U.S. Trading Partners
"Buy American" stimulus plan raises concerns among U.S. businesses and trading partners, but President Obama seems firmly behind the measures.

Home Depot Slashes Jobs, Closes Specialty Stores
In the latest economic crises-related news, Home Depot announced that it will be cutting 7,000 jobs and closing all of its Expo stores and other specialty outfits.

Credit Card Industry May Cut $2 Trillion of Outstanding Credit
Credit card companies are considering pulling back heavily in their consumer lending business, perhaps further dooming the U.S. economy for the year to come.

U.S. Economy: Banks won’t Lend, Consumers won’t Spend
News about the U.S. economy is flying out of every media outlet at a torrid pace, but the summation of the situation seems to be that banks won’t lend money and consumers won’t spend it.

U.S. Considering Massive Refinance Package for Homeowners
Now that the federal government has committed nearly a trillion dollars to stabilizing the financial markets and lending institutions, congress is turning its attention to homeowners.

Topsy-Turvy Dow Continues it’s Wild Ride on Wednesday
The Dow Jones Industrial Average dropped 733 points on Wednesday amid reports of large consumer spending decreases and continued "investor" panic.

Fed Earmarks $250 Billion for Direct Deposit
President Bush announced Tuesday morning that $250 billion would be deposited into U.S. banks as a measure to "shore up" the crumbling financial market.

Bank Execs Summoned to Hash Out Bailout Details
Executives from top financial institutions have been summoned to the Treasury Department to discuss the details of the $700 billion rescue package.

Congress Passes Historic Economic Bailout Plan
Congress today voted in favor of the re(re-) revised plan to rescue the American economy, and President Bush signed it.

Trying Again at the Financial Rescue Vote
The re-revised version of the government "rescue" plan will head to the Senate Wednesday night and reach the House for a new vote by Friday.

Is the U.S. Economy Tanking?
How worried should we be as consumer prices soar amid job cutbacks and energy costs?

Economists Worry as Consumers Spend Rebate Checks on Food and Gas
The boost to the economy has not occurred as expected after government rebate checks are going toward bills and basic expenses, not splurges.