recession

Stories 81 - 100 | << Prev   Next >>

Fake Budgets Drive San Bernardino Bankrupt

It's the latest in a string of three California cities to go under

(Newser) - California's cities are dropping like flies : San Bernardino's city council voted to enter Chapter 9 bankruptcy last night, making it the third California city to do so in as many weeks, the AP reports. With a population of about 210,000, it'll be the second-largest US city...

Weak Jobs Report Puts Pressure on Bernanke

Fed now more likely to take action

(Newser) - Yesterday's tepid jobs report firms up evidence that the recovery is backsliding and increases the odds that the Federal Reserve will try to give it a jolt, reports the Wall Street Journal . The most likely move by Ben Bernanke would be to buy bonds—or quantitative easing, in econo-speak—...

Fed Economic Report: Middle Class Getting Hosed

American families lose two decades of accumulated wealth

(Newser) - The Fed released its much-anticipated report on the economy today, and the news is not pretty. In short, the median American family's wealth has fallen to early-1990s levels, eliminating two decades of prosperity, while savings are down and debt hovers like a vulture over most Americans, the New York ...

Obama Clarifies: Economy 'Not Doing Fine'

Romney: First statement is a historic gaffe

(Newser) - President Obama sought to limit the political damage from his statement this morning that the "private sector is doing fine." At a subsequent event, he declared, "It is absolutely clear that the economy is not doing fine," reports MSNBC . One Republican after another had beaten up...

Let&#39;s Spend Like Reagan

 Let's Spend 
 Like Reagan 
Paul Krugman
Jun 8, 2012 1:15 PM CDT

Let's Spend Like Reagan

Krugman: He was a bigger spender than Obama in first years

(Newser) - At this point in his presidency, Ronald Reagan was presiding over a strong recovery, and President Obama clearly is not. The biggest difference? Government spending, writes Paul Krugman in the New York Times . Real per-capita government spending is up 6.4% under Obama, but under Reagan it soared 14.4%....

Britain Slides Back Into Recession

Figures reveal first 'double-dip' recession since '70s

(Newser) - More bad news for Britain's beleaguered government: The country slid back into recession in the first quarter of this year, according to figures released today. The economy shrank for the second straight quarter, marking the first "double-dip" recession, in which GDP falls before output lost in the previous...

Recession Was Great— for Big Business

Firms come out streamlined; still slow to hire

(Newser) - For some of America's biggest companies, the recession amounted to growing pains: They're now "leaner, meaner, and hungrier," says one economist. Indeed, sales, profits, and employment among S&P 500 companies last year beat figures from 2007—before the crisis began, the Wall Street Journal notes...

Cash-Strapped Americans' No. 1 Priority: Car Payment

Yep, ahead of paying off credit card bills and the mortgage

(Newser) - Americans really don't want to lose their rides. A study finds that the cash-strapped among us are paying off their car loans before they pay credit card bills and make mortgage payments. It used to be that Americans would pay their home loans first, then their credit card and...

3 out of 10 Young Adults Moving Home

'Boomerang kids' have trouble finding well-paying work

(Newser) - As many as three out of 10 young adults are moving back in with their parents—resulting in the highest share of 18- to 34-year-olds living with multiple generations since the 1950s—after finding themselves unable to find lucrative employment in this dismal economy. They're dubbed "boomerang kids"...

Next Debt Bomb: Student Loans?

'Nonsense,' say others, as student debt is fraction size of housing

(Newser) - With student loan debts soaring to $867 billion last year, student debt is a "bomb" waiting to explode, bankruptcy lawyers tell the Washington Post. The figure is bigger than the $704 billion owed by all Americans on their credit cards , and of the 37 million borrowers, 14.4% have...

10 US Cities Bursting With Jobs

Columbus, Indiana, and Casper, Wyoming top employment list

(Newser) - Recession—that's a big-city thing, right? Several mid-size cities around the US are making an argument for their economic superiority, boasting job growth higher than the 1.5% national average in 2011. You may not know these cities well, but the Christian Science Monitor recommends them:
  1. Columbus, Indiana: No,
...

Young Adults Put Life on Hold Over Economy

But most remain upbeat about their future: Pew survey

(Newser) - The economy is doing a number on those aged 18 to 34, according to a new survey from the Pew Research Center :
  • Half say they have taken a job they didn't want.
  • More than a third have gone back to school because of the job market.
  • Nearly a quarter
...

If Payroll Tax Cuts Expire, Here's What Happens...

...according to economists, who share their forecasts with WaPo

(Newser) - We know the "what": The payroll tax cut is set to expire within days, meaning changes to jobless benefits and doctors who treat Medicare patients will kick in, and the average American will miss out on $40 a paycheck . The Washington Post explores the "what does it mean"...

For Sale in Pontiac, Mich: Pretty Much Everything

Reeling city puts almost all public assets up for sale

(Newser) - Pontiac, Michigan, is having a fire sale to raise desperately needed money. Up for sale is city hall, the police station, the library, cemeteries, golf courses, and on and on—just about every public asset, reports the Detroit Free Press . Pontiac has slashed its budget from $58 million to $38...

For Laid Off, Few Signs of Recovery

Construction, manufacturing particularly hit hard

(Newser) - Only 7% of people who lost their jobs since the financial crisis of 2008 have returned to jobs as good as or better than the ones they used to have, reports the New York Times . Most people who have found new work say it is less lucrative, and 15% say...

Pricey Gratitude: Thanksgiving Costs Soar

Gas, airfare up 20% from a year ago

(Newser) - Tens of millions of Americans are now on the move for Thanksgiving, but the soaring cost of travel is keeping many others at home. Some 42.5 million Americans are expected to drive, fly, or ride trains over the holiday, and gas prices are up almost 20% from last year,...

Foreclosed Vegas Homes Turning Into Pot Farms

Empty homes are easy target for marijuana growers

(Newser) - With Nevada and Las Vegas among the hardest-hit housing markets in the nation, weed dealers are increasingly turning to the region's empty houses to set up marijuana farms, reports the New York Daily News . Cops have busted 130 indoor pot farms so far this year, up by nearly two...

Downturn Slams Gen-Xers; Boomers, Not So Much

Housing prices are the real culprit

(Newser) - The recession is hurting most of us, but Gen X has taken the brunt of it—thanks to housing prices that fell off a cliff 5 years ago and are still tumbling. Consider the 30-year-old Gen-Xer who bought a house in 2006 for $250,000. That value has now dropped...

Economic Ewe-Turn: Recession Spurs Agro-Revival

More people turn to the homestead to make a buck or just save money

(Newser) - Sick of the noise and hassles caused by lawn mowers? Instead, in Oberlin, Ohio, you can rent sheep for just $1 each per day to nibble your grass short. As the United States' economic malaise continues, young people around the country are increasingly turning to small, agriculture-related ventures like that...

Bloomberg Has 'Marie Antoinette Moment' on OWS

Mayor reveals 'arrogant aristocrat' nature with comments: Matt Taibbi

(Newser) - Mayor Michael Bloomberg's rant against Occupy Wall Street protesters was his "Marie Antoinette moment"—like the famous "let them eat cake," it is the kind of comment that "allows us to see under his would-be hip centrist Halloween mask and look closely at the...

Stories 81 - 100 | << Prev   Next >>
Most Read on Newser