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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: US economy

US economy stories: 303 news summaries

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ANALYSIS

 Obama Finds 
 His Inner 
 Roosevelt 

President stakes his legacy on ending economic crisis

Feb 25, 09 7:23 AM CST
(Newser) - Barack Obama's address to Congress last night “staked his presidency on bringing the nation out of its economic crisis,” writes Steven Pearlstein in the Washington Post. Not since FDR have citizens been so desperate for economic leadership, and yesterday's speech made clear that Obama plans to reshape American... More »

MORE ABOUT:
Barack Obama • recession • US economy • FDR • speech • Obama administration

OPINION

Pols Get Failing Grades
on Economic Literacy

Critics of stimulus spending reveal lack of economic literacy

Feb 6, 09 10:05 AM CST
(Newser) - Given all the "silly" arguments coming out of Washington these days, maybe we should pony up $50 million or so and let congressmen hire "economic trainers," writes Steven Pearlstein in the Washington Post. Those who complain that the stimulus has too much spending just don't get it.... More »

MORE ABOUT:
Congress • economics • recession • US economy • economic stimulus package

OPINION

 Busted Fatcats 
 Have Everything 
 —Except a Clue 

High-fliers fail to realize that national mood has turned against them

Feb 4, 09 10:27 AM CST
(Newser) - The real problem with Tom Daschle is the $5 million he made on the post-Senate gravy train, not his unpaid taxes, Steven Pearlstein writes in the Washington Post. Daschle, John Thain, and their fellow corporate and government high fliers have run afoul of an American public that's "no longer... More »

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politics • recession • US economy • John Thain • Tom Daschle • inequality • Obama administration

 Big Biz Slams 
 'Buy American' 
 Stimulus Clause 

Exporters warn of foreign backlash if package erects free-trade barriers

Jan 29, 09 8:00 AM CST
(Newser) - American exporters are fighting to ditch "Buy American" provisions from the economic stimulus package, the Washington Post reports. The House version bars most foreign iron and steel from stimulus projects, while a Senate version calls for only American-made equipment and goods to be used in nearly all projects to... More »

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General Electric • iron • Caterpillar • US economy • steel • free trade • protectionism • US exports • economic stimulus package

(AP) - President Bush and Barack Obama asked Congress today to release the remaining $350 billion in TARP funds to prop up the troubled US financial system. The White House said Bush acted on a request from the president-elect, who takes office next week. Congress may vote on the request as early... More »

MORE ABOUT:
Barack Obama • Congress • US economy • bailout • George W. Bush • President Obama • TARP

OPINION

Obama's Cure Not Potent Enough for Economic Ills

Call for bold action on economy followed by plan that falls a long way short

Jan 9, 09 5:50 AM CST
(Newser) - Barack Obama's call for aggressive action on the economy hasn’t been backed up by a plan bold enough to do the job, Paul Krugman writes in the New York Times. Plunging levels of investment and consumer spending will leave a gap of around $2 trillion between what America produces... More »

MORE ABOUT:
Barack Obama • recession • US economy • economic stimulus package • economic plans • Obama administration • financial crisis • President Obama • economic policies



 Newfound Thrift 
 Battering Economy 

Sharp rise in savings rate expected to lengthen recession

Jan 6, 09 1:51 AM CST
(Newser) - Americans worried about the recession are stashing away cash at the highest rate in decades—but economists fear that the thrift will prolong hard times, reports the Wall Street Journal. The national savings rate has rebounded from less than zero to levels expected to hit 5% or higher this year... More »

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consumer • recession • US economy • spending • savings • economy

Steel Industry Hopes Stimulus Will Forge Recovery

Execs want projects using American steel to be center of economic recovery

Jan 2, 09 2:32 AM CST
(Newser) - Leaders of America's sagging steel industry are hoping their operations will spearhead the economy's recovery with some major help from the US government, the New York Times reports. Steel orders have collapsed since September, causing thousands of layoffs. Execs are pushing hard for the expected stimulus package from the incoming... More »

MORE ABOUT:
recession • US economy • infrastructure • steel • economic stimulus package • United Steelworkers • industry

Shoppers Go Whole Hog for Piggy Banks

Newly frugal consumers use little pink pals to help save

Jan 1, 09 12:08 PM CST
(Newser) - Piggy banks have been flying off the shelves this holiday season, reports Reuters. Newly frugal consumers see the pigs as symbolic of the need to save, retailers say. The savings rate across America has shot up from zero to 2.8% as worried households start to sock away cash—although... More »

MORE ABOUT:
recession • bank • US economy • savings • coins

OPINION

Bailout Success Will Teach Wrong Lesson

Rescuing firms from mess they created will send message that bills don't need to be paid

Jan 1, 09 5:03 AM CST
(Newser) - America needs to learn some hard lessons that a $700 billion bailout of the economy isn't going to teach, David Ignatius writes in the Washington Post. If the the country manages to dodge a depression, the message will be that irresponsible behavior brings a rescue, and that bills don't need... More »

MORE ABOUT:
US economy • New Deal • bailout • financial crisis • Wall Street bailout

 Dumbest 
 Gaffes 
 on the 
 Economy 

Instead of predicting financial crisis, they hid it

Dec 31, 08 6:12 PM CST
(Newser) - The men who should have been warning us about the impending financial crisis were a wee bit off the mark at times. MSNBC rounds up some of the dumbest things said:
  • "Subprime market problems seem likely to be contained."—Ben Bernanke, March 28, 2007
  • "The
... More »

MORE ABOUT:
John McCain • Ben Bernanke • recession • US economy • credit crisis • John Thain • George W. Bush • Alan Schwartz • financial crisis • recession depression

 Recession? Not for Botox Docs 

For some, it's the cheaper alternative

Dec 23, 08 2:14 PM CST
(Newser) - Botox, apparently the poor man's plastic surgery, has not taken a hit in this recession, according to a recent survey. In fact, some doctors say demand for the pay-as-you-go treatment has increased as patients put off pricier surgeries, the Wall Street Journal reports. A lip plump or wrinkle-smoothing costs a... More »

MORE ABOUT:
plastic surgery • recession • consumer spending • US economy • Botox

opinion

 South Ensuring 
 Detroit Won't 
 Rise Again 

States woo Northern economy with lower wages, 'inhumane standards'

Dec 18, 08 1:20 PM CST
(Newser) - It's no coincidence that Dixie senators derailed the Big Three bailout, since the South—with anti-union laws, low wages, and modest taxes—has built a counter-Detroit that will ensure that neither the Motor City or the South will rise again, Michael Lind writes in Salon. The same tactics were used... More »

MORE ABOUT:
Congress • Detroit • US economy • US automakers • South • financial crisis

Welfare Rolls Rising for First Time Since '90s

Tide of middle-class jobless could seriously strain program

Dec 17, 08 7:57 AM CST
(Newser) - Welfare numbers are rising in many states for the first time since public assistance was redefined more than a decade ago, the Washington Post reports. The numbers are still small compared to the days before welfare was retooled to steer people into jobs, but at least a dozen states say... More »

MORE ABOUT:
unemployment • US economy • Federal aid • unemployment benefits • welfare • benefits

 Pets Are Losing Homes, Too 

Recession sparks rise in animal abandonment

Dec 16, 08 2:29 PM CST
(Newser) - Animal shelters are being filled with pets abandoned because of the recession and home foreclosures. In Massachusetts, a rescue league has seen a 45% jump in owners citing money or housing problems when they surrender a cat or dog. Others are just leaving their pets on the streets or in... More »

MORE ABOUT:
pets • foreclosure • recession • horse • US economy • abandonment • animal shelters • financial crisis • recession depression

 Bush: Auto Bailout
'Not Ready' 

Deal seems to be grinding gears

Dec 15, 08 3:58 AM CST
(Newser) - The federal auto industry bailout appeared to be stuck in neutral as President Bush warned today that a deal is not imminent. "We're not quite ready to announce that yet," Bush told reporters on a plane to Afghanistan. Lawmakers expected the administration to quickly reallocate part of the... More »

MORE ABOUT:
Bush administration • US economy • auto industry • Big Three • bailout • job • George W. Bush • financial crisis • Wall Street bailout • auto bailout

ANALYSIS

Detroit Failure Could Spark
'Economic Chaos' 

Analysts warn that letting automakers sink  will have impact across the economy

Dec 13, 08 9:17 AM CST
(Newser) - Letting one of the Big Three go under could have disastrous effects on many corners of the American economy, McClatchy Newspapers reports. Beyond the jobs lost at the companies and their suppliers—as well as the jobs lost everywhere those workers spend their wages—the repercussions would hit sectors as... More »

MORE ABOUT:
Chrysler • General Motors • Ford • unemployment • US economy • auto industry • US automakers • financial crisis

Poll: Americans Back Economic Intervention

A growing majority blames financial crisis on deregulation

Dec 11, 08 6:14 AM CST
(Newser) - A clear majority of Americans approve of Washington taking firm steps to intervene in the nation's struggling economy, a Los Angeles Times poll finds. Two-thirds favor tighter restrictions on financial institutions and 60% back help for homeowners facing foreclosure. A huge 87% blamed deregulation for the economic crisis—up 25% ... More »

MORE ABOUT:
foreclosure • US government • US economy • financial institutions • free markets • bailout • deregulation • financial crisis

 Bush, Obama Team Up on Crisis 

President huddles with his successor on bailout plans

Nov 25, 08 5:27 AM CST
(Newser) - The federal government's response to the economic crisis is part of a team planning effort, with Barack Obama working closely with President Bush in a bid to bring confidence back to spooked financial markets, the New York Times reports. The president's aides are coordinating efforts with Obama's new economic team,... More »

MORE ABOUT:
Barack Obama • Citigroup • US economy • George W. Bush • Obama administration • financial crisis • President Obama

Analysis

Detroit Should Look at the History of Steel

Bankruptcy saved that industry, but auto isn't exactly the same

Nov 23, 08 2:09 PM CST
(Newser) - When the steel industry was floundering, many people thought the worst possible outcome would be to allow the big, old companies to go bankrupt. But it took that failure to pare down the industry to a workable size and inject new life into it, David Streitfeld writes in the New ... More »

MORE ABOUT:
Chrysler • General Motors • Ford • US economy • steel • auto industry • bailout • financial crisis

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