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NEWS ABOUT: economic recovery

We Might Be Doomed, Debt Deal or Not

Paul Krugman: Focus on 'deficit panic' could be disastrous

(Newser) - So Greece has a bailout deal , and the US is maybe closing in on its own agreement to avoid a default. Cause for celebration? More like depression, writes Paul Krugman. Or, as he puts it in the New York Times , a "Lesser Depression." Policy-makers might "manage to... More »

Obama on Jobs: 'We've Still Got a Long Way to Go'

President urges Congress to act on several initiatives to juice economy

(Newser) - President Obama didn't try to put a pretty face on today's bleak unemployment figures : The numbers confirm "what most Americans already know," he said: "We still have a long way to go and a lot of work to do." He urged Congress to pass... More »

In This Crappy Economy, Corporate Profits Soar

There's a disconnect between profitability and jobs

(Newser) - There's a whole lot of evidence that the US' economic recovery isn’t going well—unemployment remains too high, consumer lending too low, and consumer confidence in shambles—but one place you won’t find that evidence is on corporate balance sheets. US companies are poised to post big... More »

Brace for $150 Oil —and $4.50 Gas

Barron's projects those averages for next spring

(Newser) - Enjoy the relative lull in gas prices while it lasts: Barron's cover story projects $4.50 a gallon "will become the norm" by next spring. "That will put a huge dent in consumer wallets, while ramping up the desirability of fuel-efficient cars," writes Gene Epstein. He... More »

Consumer Spending Weakest in 20 Months

May showed first decline since January 2010

(AP) - Americans spent in May at the weakest pace in 20 months, a sign that high gas prices and unemployment are holding back the economy. Consumer spending was unchanged, the worst result since September 2009, the Commerce Department said today. When adjusted for inflation, spending actually dropped 0.1%—the first... More »

Let's Give Jobless a 'Signing Bonus'

But cut off benefits after 39 weeks: Todd Buchholz

(Newser) - Todd Buchholz, an economic adviser to the elder President Bush, thinks the idea of 99 weeks of unemployment benefits is foolish. It gives people little incentive to find work, he writes in the Washington Post . His solution: Cut off benefits at 39 weeks but add a "signing bonus" for... More »

Obama: Economy 'Going to Take Time'

President pleads for patience in weekly address

(AP) - President Obama today sought the public's patience with a slowing economy and said training workers for manufacturing jobs despite declines in that sector will help put the economy on a path toward growth. "We didn't get into this mess overnight. And we won't get out of... More »

Elite 'Pain Caucus' Is Killing America

Rich creditors dictate policy, leave jobless in the lurch: Paul Krugman

(Newser) - Ordinary Americans are reeling under the high unemployment rate, and the economy is teetering as well. So why do politicians in both parties refuse to spend money to create jobs? Blame the "Pain Caucus," writes Paul Krugman in the New York Times . This caucus consists of "rentiers,... More »

Bernanke, Obama Agree: No Double-Dip

Fed chief, president expect recovery will strengthen

(Newser) - Ben Bernanke isn’t worried about a double-dip recession, despite an economy he acknowledged as unexpectedly troubled this year, reports MarketWatch . “I expect hiring to pick up from last month’s pace as growth strengthens in the second half of the year,” the Fed chairman told a meeting... More »

US Keeps Repeating Same Mistake on Economy

Paul Krugman: We have to worry about jobs, not the deficit

(Newser) - The US made a terrible mistake last year by not spending enough money on the economic recovery, and it's on track to repeat the error on a larger scale this year, writes Paul Krugman in the New York Times . Deficit hawks were allowed to overrule those concerned about job... More »

Only McDonald's Saved Us From Losing Jobs

Depressing: That one-day hiring binge kept us in the black

(Newser) - Just how lousy were today's unemployment numbers ? Employers created a meager 54,000 jobs, way under expectations. Alex Goldmark at Good points out that if not for McDonald's one-day hiring binge of 62,000 jobs, the nation would have had a net loss. "That's what... More »

Sorry, Our Economic ‘Recovery’ Is Tanking

Weak GDP growth is only the latest sign: Henry Blodget

(Newser) - The general consensus these days is that the economy is enjoying a steady if unspectacular recovery, writes Henry Blodget at Business Insider . After all, stocks and corporate profits are up and the unemployment rate is down. In a column headlined "Don't Mean To Be Rude, But The Economy... More »

GOP Gives Democracy a Bad Name

Why are we paying these people?

(Newser) - Nicholas Kristof has spent a lot of time in Libya, Egypt, Bahrain, and China recently, talking up the virtues of democracy. “But if Congressional Republicans actually shut down the government this weekend, they will be making a powerful argument for autocracy,” he writes in the New York Times... More »

Unemployment Dips to 8.9%

That's nearly a two-year low

(AP) - More good news in February : The unemployment rate dipped to 8.9%—a nearly two-year low—as employers hired at the fastest pace in nearly a year. The economy tacked on 192,000 jobs last month, with factories, professional and business services, education, and health care among those expanding employment.... More »

Obama Brings Call for Innovation to 'Sputnik' Town

President reinforces message in Wisconsin

(Newser) - The day after calling for Americans to double down on innovation and seize what he has dubbed the new "Sputnik moment," President Obama reinforced his message in the small town of Manitowoc, Wisconsin. The choice of town in the pivotal electoral state is doubly significant, as Obama delivered... More »

Housing Market Headed for Double Dip

Declines could hurt broader recovery

(Newser) - The housing market is cratering again, dousing the optimism that pervaded earlier this year. Prices fell for the third straight month in October, according to the S&P/Case Shiller index released yesterday, and economists expect them to keep dropping through early spring, wiping out any progress made since the market’... More »

Greenhouse Gas Emissions on Track to Set Record

If economy continues to recover, emissions likely to rise

(Newser) - The bad news: Greenhouse gas emissions could hit record highs this year, a new study shows. The kinda good news: Researchers say a recovering economy is to blame. Scientists found that—despite the financial crisis—global carbon dioxide emissions only dropped by 1.3% last year compared to 2008's record... More »

Bernanke's Rationale Looks Too Rosy

Felix Salmon isn't thrilled with Fed chief's op-ed

(Newser) - The Fed's controversial plan to buy $600 billion worth of Treasuries to stimulate growth has brought the phrase "quantitative easing" out from the obscurity of financial blogs. Will it work? Two columns today on the subject from Ben Bernanke himself in the Washington Post and Felix Salmon at Reuters... More »

Fed Will Pump $600B Into Economy

Hopes to drive down rates, stimulate hiring

(Newser) - The Federal Reserve is making a bold effort to invigorate the economy by announcing it will buy hundreds of billions more in Treasury bonds. The Fed says it will buy $600 billion of long-term government bonds by the middle of 2011 to further drive down rates on mortgages and other... More »

US Is Pissed, and It Won't Stop Nov. 2

Only economic recovery can soothe the country's anger

(Newser) - Carl Paladino, New York's gay-bashing , racist email-sending gubernatorial candidate, may be the most "clownish" illustration of American rage, but he's no anomaly, writes Frank Rich in the New York Times . And, like the "farcical" Christine O'Donnell, Paladino is a "political loss-leader" whose probable defeat lets us laugh... More »

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