The Obama administration is having some difficulty with the economic projections they used to sell the stimulus bill, so they’ve decided to rewrite their projections. The administration projected that the unemployment rate would peak at 8%, it is now at 8.9%. This would lead many reasonable people to think that that the stimulus package has [...]
Barack Obama’s budget, unveiled with fanfare, fails to deal with his biggest money problems.
A molasses-slow economic recovery will make it hard to find the huge sums he’ll need to reach his biggest goals—fixing health care, confronting climate change and overhauling the tax system—without much deeper cuts than he’s proposing in other programs.
Obama faces not only [...]
The financial sector will make up a smaller part of the U.S. economy in the future as new regulations clamp down on “massive risk-taking,” President Barack Obama said in an interview published on Saturday.
Obama, whose young administration has spearheaded a raft of reforms in the banking sector as part of efforts to tackle the financial [...]
The economy shrank at a worse-than-expected 6.1 percent pace at the start of this year as sharp cutbacks by businesses and the biggest drop in U.S. exports in 40 years overwhelmed a rebound in consumer spending. The Commerce Department’s report dashed hopes that the recession’s grip on the country loosened in the first quarter. Economists [...]
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