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Benefit Recipient? Disruptions May Be Coming

Posted: 07/29/2011 - If the day comes — whether next Tuesday or later — when the government reaches its legal borrowing limit, it will be forced to make a 40 percent cut in outlays.

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Wealth In America: Whites-Minorities Gap Is Now A Chasm

Updated: 07/27/2011 - As Congress and the White House wrestle whether to raise taxes for the wealthiest Americans, a new analysis of Census data shows that the wealth gaps between whites and blacks and Hispanics widened dramatically during the recession.

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Boehner Misses Cuts Target, Postpones Deficit Vote

Posted: 07/27/2011 - House GOP leaders have postponed a vote on a plan to trade more than $1 trillion in spending cuts for an increase in the government's borrowing cap that would be nearly as large.

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US Government Ends Chrysler Investment

Posted: 07/22/2011 - The Treasury Department said Thursday it has exited its investment in Chrysler LLC after Italian automaker Fiat SpA purchased the U.S. government's remaining holdings in the auto company.

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Homebuilding Leaps, Led By Condo Construction

Posted: 07/20/2011 - Housing starts rose more than expected in June to touch a six-month high and permits for future construction unexpectedly increased, a government report showed on Tuesday, likely reflecting growing demand for rental apartments.

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Home Building Spikes In June

Posted: 07/19/2011 - Builders broke ground on more single-family homes and apartments in June, as the home-building industry tried to shake off a historically bad spring.

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Minn. Governor, GOP Reach Deal To End Shutdown

Posted: 07/15/2011 - Minnesota Gov. Mark Dayton and top Republicans agreed Thursday to end a budget impasse that prompted the longest state government shutdown in recent history, after the Democratic governor surrendered on raising taxes.

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Obama-GOP Debt Talks Get Tense At White House

Posted: 07/14/2011 - Tensions rose to the boiling point at a White House summit on the debt ceiling and budget talks on Wednesday, with House Republicans accusing President Barack Obama of abruptly walking out and Democrats painting GOP leaders as incalcitrant and irresponsible.

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President Obama Not Giving Up On Big Debt Reduction Deal

Updated: 07/10/2011 - President Barack Obama hasn't given up on getting congressional leaders to accept a $4 trillion debt reduction deal that Republicans have rejected for its tax increases and Democrats dislike for its cuts to programs for seniors and the poor.

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Boehner: Big Deficit Reduction Deal Won't Work

Posted: 07/10/2011 - House Republican budget negotiators have abandoned plans to pursue a massive $4 trillion, 10-year deficit reduction package in the face of stiff Republican opposition to any plan that would increase taxes as part of the deal.

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FHA Gives Jobless Homeowners One-Year Break

Posted: 07/08/2011 - The Obama administration is making it easier for out-of-work homeowners to stay in their homes, as it tries to revamp its troubled foreclosure-prevention program.

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Auto Industry, Seeing New Life, On Hiring Spree

Posted: 07/07/2011 - Volkswagen opened a plant in Tennessee last month with 2,000 workers. Honda is hiring 1,000 in Indiana to meet demand for its best-selling Civic. General Motors is looking for 2,500 in Detroit to build the Chevy Volt.

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It's China's Turn To Wrestle With A Pile Of Bad Debt

Posted: 07/02/2011 - The U.S. banking system was the first to get hit by the financial Panic of 2008. For the past year, European bankers have been scrambling to head off exploding debt bombs in Greece and other countries with high debt loads.

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Bank Of America Settlement Could Speed Foreclosures

Posted: 06/30/2011 - Investors who bought bonds backed by shaky loans scored a major victory Wednesday with the announcement that Bank of America will pay more than $8 billion to make up for some of their losses.

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