NewsTrust - U.S. Economy - Most Recent Stories: News

Scenes from Iowa's recession

Mon, 23 Nov 2009 00:00:00 -0800

Des Moines Register - By Michael Bugeja - Nov. 23 (Special Report) - They arrive at Gray's Lake Park in the morning, basking on borrowed time of a mild mid-November, realizing the winter can arrive any day like layoffs without warning. They are the unemployed, strolling with friends, partners or retirees, or sometimes alone. Everyone has a story to tell. Everyone knows someone else out of work in what some call "The Second Depression." They are neighbors, acquaintances, family members, colleagues, friends. They may be you. They belong to "The New Poverty," people who followed the rules, paid bills and mortgages on time and whose lives were scuttled by Ponzi and subprime schemes happening far away.

NewsTrust Rating: 3.9 average - 4 Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Fed under fire as public anger mounts

Mon, 23 Nov 2009 00:00:00 -0800

Associated Press - By Tom Raum - Nov. 23 (News Analysis) - Suddenly the Federal Reserve is everybody's punching bag. Strip the Fed of its bank regulation powers, some in Congress are demanding. Get probing audits of its behind-the-scenes operations, others say. The chairman of the Federal Reserve Board is always fair game for criticism and second-guessing, usually over interest rate actions. But this year the criticism is much broader as Congress responds to widespread public anger that the Fed bailed out Wall Street but not ordinary Americans, and with unemployment in double digits.

NewsTrust Rating: 3.6 average (not enough reviews) - See Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Weighing Jobs and Deficit

Mon, 23 Nov 2009 00:00:00 -0800

Wall Street Journal - By Elizabeth Williamson - Nov. 23 (News Report) - The White House is lukewarm about proposals by congressional Democrats to introduce broad legislation to create jobs, instead favoring targeted measures that would be less likely to inflate the deficit, administration officials said. There is as yet no agreement within the White House or in Congress on how to try to curb the U.S. jobless rate. But the differences in opinion suggest that rifts could emerge among Democrats as they wrestle with how to beat back the highest unemployment rate in a generation.

NewsTrust Rating: 3.0 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Obama Web site claims stimulus jobs in non-existent places

Wed, 18 Nov 2009 00:00:00 -0800

McClatchy - By James Rosen - Nov. 18 (News Report) - The federal Web site that tracks spending from the Obama administration's $787 billion economic stimulus program reports that the program has created thousands of jobs in congressional districts that don't exist.

NewsTrust Rating: 2.5 average (not enough reviews) - See Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

General Electric Pursues Pot of Government Stimulus Gold

Wed, 18 Nov 2009 00:00:00 -0800

Wall Street Journal - By Elizabeth Williamson, Paul Glader - Nov. 18 (News Report) - The financial crisis hasn't been kind to General Electric Co. Its stock has lost almost half its value, the government has stepped in to prop up its enormous financial arm, and sales have slumped in core industrial businesses. But Chief Executive Jeffrey Immelt now has his eye on a huge new pool of potential revenue: Uncle Sam's stimulus dollars. Mr. Immelt, a registered Republican, quips about the shift in thinking in the nation's corner offices: "We're all Democrats now."

NewsTrust Rating: 3.8 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

The Dirt on Worms

Wed, 18 Nov 2009 00:00:00 -0800

agweb.com - By Pam Smith - Nov. 18 (News Report) - The earthworm has long been considered the farmer’s friend. Their burrowing has always been thought to aerate the soil while their droppings provide fertilizer. No-till farmers count on these tireless workers to improve soil tilth. And on their worst day, earthworms sacrifice everything to land us a lunch from our favorite fishing hole

NewsTrust Rating: 3.0 average (not enough reviews) - See Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

China Solar Panel Maker Sets First U.S. Plant

Mon, 16 Nov 2009 00:00:00 -0800

Business Week - By Adam Aston - Nov. 16 (News Report) - China's Suntech Power Holdings (STP) is no newcomer to the U.S. Last May, President Barack Obama toured the U.S.'s largest solar panel installation at Nellis Air Force Base in Nevada. There, row upon row of shiny black Suntech solar panels span 140 acres, cranking out up to 14 megawatts of electricity on sunny days.

NewsTrust Rating: 3.8 average (not enough reviews) - See Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

G.M., Citing Progress, Reports Loss of $1.15 Billion

Mon, 16 Nov 2009 00:00:00 -0800

Associated Press - By Nick Bunkley - Nov. 16 (News Report) - it [ GM ] plans to make a $1 billion payment to the federal government in december, more than five years before the loans are due, and to make similar quarterly payments after that.

NewsTrust Rating: 3.6 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

GM Plans to Repay U.S. Loan

Mon, 16 Nov 2009 00:00:00 -0800

Wall Street Journal - By John D. Stoll - Nov. 16 (News Report) - General Motors Co. plans to begin paying back a $6.7 billion loan it owes the U.S. government starting late this year, putting it on track to potentially repay the entire note by the middle of 2011, said a person familiar with the matter. But in a move that could be controversial and risky, the car maker plans to use other money it received from the government to pay back the borrowing.

NewsTrust Rating: 3.4 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Big costs weigh on troop debate

Sun, 15 Nov 2009 00:00:00 -0800

Seattle Times - By Christopher Drew - Nov. 15 (News Analysis) - even if Obama chooses a lower troop commitment, Afghanistan's new costs could wash out the projected $26 billion expected to be saved in 2010 from withdrawing troops from Iraq. And the overall military budget could reach $734 billion, or 10 percent more than the peak of $667 billion under the Bush administration. Such an escalation in military spending would be a politically volatile issue for Obama at a time when the government budget deficit is soaring, the economy is weak and he is trying to pass a health-care overhaul.

NewsTrust Rating: 4.0 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Did Christianity Cause the Crash?

Sun, 15 Nov 2009 00:00:00 -0800

Atlantic Monthly - By Hanna Rosin - Nov. 15 (Special Report) - "America's mainstream religious denominations used to teach the faithful that they would be rewarded in the afterlife. But over the past generation, a different strain of Christian faith has proliferated- one that promises to make believers rich in the here and now."Hair-raising and horrifying, truly scary, and truly sad. Jesus wept.

NewsTrust Rating: Not rated yet - See Info » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Nine states pose fiscal threat to US recovery

Wed, 11 Nov 2009 00:00:00 -0800

Financial Times - By Nicole Bullock - Nov. 11 (News Report) - Some of the same financial troubles that have pushed California toward economic disaster are wreaking havoc in nine other states and posing a threat to the nascent recovery, according to research released

NewsTrust Rating: Not rated yet - See Info » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

AIG chief threatened to leave over pay constraints: report

Wed, 11 Nov 2009 00:00:00 -0800

Reuters - Nov. 11 (News Report) - Unhappy over constraints imposed by U.S. government overseers, American International Group Inc (AIG.N) Chief Executive Robert Benmosche told the company's board last week that he is considering stepping down, the Wall Street Journal said, citing people familiar with the matter.

NewsTrust Rating: Not rated yet - See Info » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Six Smart Progressive Complaints About House Health Bill

Mon, 09 Nov 2009 00:00:00 -0800

The Nation - By John Nichols - Nov. 09 (News) - The Affordable Health Care for America Act was approved by the U.S. House Saturday night with ... support from progressive Democrats ... and from a president ... elected with the ... support of progressive voters. But that does not mean that informed and engaged progressives are entirely enthusiastic about the measure.

NewsTrust Rating: Not rated yet - See Info » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Windfall Is Seen as Bank Bonuses Are Paid in Stock

Sun, 08 Nov 2009 00:00:00 -0800

New York Times - By Louise Story - Nov. 08 (Special Report) - Even as Washington tries to rein in Wall Street pay, bankers are likely to make unusually large gains on the stock grants and options they received after shares in their companies fell sharply during the financial meltdown.

NewsTrust Rating: 3.8 average (not enough reviews) - See Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Stimulus for Cotton Candy, Tango and a Fish Orchestra? Wacky, or Actually Worthy?

Sat, 07 Nov 2009 00:00:00 -0800

ProPublica - By Michael Grabell - Nov. 07 (Investigative Report) - Breakfast at Fuddruckers: $19.24. Snow cone and cotton candy machine: $146.89. Six extra preview performances of “Little House on the Prairie – the Musical”: $50,000. Benefit to the economy? According to the recipients of this stimulus money: Priceless.

NewsTrust Rating: 4.0 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Evergreen shifts work to China

Sat, 07 Nov 2009 00:00:00 -0800

Boston Globe - By Erin Ailworth - Nov. 07 (News Report) - Little more than a year after cutting the ribbon at a new factory in Devens built with more than $58 million in state aid, Evergreen Solar said yesterday that it will shift its assembly of solar panels from there to China.

NewsTrust Rating: 3.8 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Soaring U.S. Unemployment Threatens Path to Economic Recovery

Sat, 07 Nov 2009 00:00:00 -0800

Bloomberg - By Timothy R. Homan - Nov. 07 (News Report) - The unemployment rate in the U.S. jumped to 10.2 percent in October, the highest level since 1983, threatening the emerging economic recovery and giving President Barack Obama and Democrats a bigger hurdle to overcome before next year’s Congressional elections.

NewsTrust Rating: 3.6 average (not enough reviews) - See Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Unemployment in U.S. Jumps to 10.2%, Payrolls Fall

Fri, 06 Nov 2009 00:00:00 -0800

Bloomberg - By Timothy R. Homan - Nov. 06 (News Report) - The unemployment rate in the U.S. soared to a 26-year high of 10.2 percent in October and employers cut more jobs than forecast, underscoring why Federal Reserve policy makers say interest rates will remain near zero.

NewsTrust Rating: 3.5 average (not enough reviews) - See Reviews » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Unemployment Rate Hits 10 Percent For The First Time Since 1983

Fri, 06 Nov 2009 00:00:00 -0800

Associated Press - By Christopher S. Rugaber - Nov. 06 (News Analysis) - The 10.2 percent jobless rate for October shows how weak the economy remains even though it is growing. The rising jobless rate could threaten the recovery if it saps consumers' confidence and makes them more cautious about spending as the holiday season approaches. Read more at: http://www.huffingtonpost.com/2009/11/06/unemployment-rate-hits-10_n_348185.html&cp

NewsTrust Rating: 4.0 average (not enough reviews) - See Review » - Review It Visit NewsTrust | About | Sign Up | Disclaimer

Illinois data on stimulus-related jobs saved, created don't add up