Category Archives: Recession

Unemployed Group Blasts Geithner’s Handling of Economy

Posted on + by Christopher di Spirito

Wednesday, August 25, 2010 With reports of new jobless claims unexpectedly soaring to 500,000, UCubed, a group representing unemployed and underemployed American workers, criticized Treasury Secretary Timothy Geithner for his lackluster handling of the economy. Rick Sloan, the group’s acting … Continue reading →

Posted in Larry Summers, News, Obama Administration, Recession, Tim Geithner, U.S. Economy | Tagged , , , , , | 12 Comments

From the Left New Year Edition

Posted on + by Christopher di Spirito

Friday, January 1, 2010 Happy New Year to everyone! 2009 was a year marked by renewed idealism with the election of President Obama, tempered by the realities a stubborn recession, record unemployment, and a huge setback on gay marriage in … Continue reading →

Posted in 2010, Gay Marriage, Healthcare, Homophobes, Midterms, President Barack Obama, Recession | Tagged , , , , , , , , , , | 11 Comments

40 State Unemployment Funds Going ‘absolutely broke’ in Two Years

Posted on + by Christopher di Spirito

Tuesday, December 22, 2009 The recession and the jobless recovery is taking its toll on unemployment fund faster than Federal projections. 40 state programs will go broke within two years and need $90 billion in loans from Washington to keep issuing … Continue reading →

Posted in Employment, News, President Barack Obama, Recession, U.S. Economy | Tagged , , , , | 3 Comments

Obama’s Approval Takes a Nose Dive

Posted on + by Christopher di Spirito

Saturday, December 5, 2009 For the first time, more Americans now disapprove of the job President Obama is doing than approve. According to a new CNN/Opinion Research survey, 48% of Americans approve of the job President Obama is doing and … Continue reading →

Posted in News, President Barack Obama, Recession, U.S. Economy | Tagged , , , | 11 Comments

White House to California: Drop Dead

Posted on + by Christopher di Spirito

Monday, June 29, 2009 With California’s state government deadlocked over a $24 billion hole in its budget, the Golden State is hurtling toward financial apocalypse. And the response from the Obama White House? Deal with it yourselves. What caused California’s … Continue reading →

Posted in California, Gov. Arnold Schwarzenegger, News, Obama Administration, Recession, U.S. Economy | Tagged , , , , , | 14 Comments

Senate Prepares to Loan FDIC $500 billion

Posted on + by Christopher di Spirito

Friday, March 6, 2009 Senate Banking Committee is moving to allow the Federal Deposit Insurance Corp. to temporarily borrow as much as $500 billion from the Treasury Department. The move comes in response to urging from FDIC Chairman Sheila Bair, … Continue reading →

Posted in News, Recession, U.S. Economy | Tagged , , , | 3 Comments

Obama Projects $1.75 Trillion Budget Deficit

Posted on + by Christopher di Spirito

Thursday, February 26, 2009 President Barack Obama is sending Congress a budget Thursday that projects the government’s deficit for this year will soar to $1.75 trillion, reflecting efforts to pull the nation out of a deep recession and a severe … Continue reading →

Posted in News, President Barack Obama, Recession, U.S. Economy | Tagged , , , | 6 Comments

It’s Time to Remove Gov. Schwarzenegger

Posted on + by Christopher di Spirito

Wednesday, February 18, 2009 California is broke. Not just broke in the usual sense but teetering on the precipice of bankruptcy. California is facing a $41 billion deficit. The cause of California’s failure to address its budget woes are statutory … Continue reading →

Posted in California, Gov. Arnold Schwarzenegger, News, Politics, Recession | Tagged , , , , | 11 Comments

Bush’s Damage to the U.S. Economy Continues

Posted on + by Christopher di Spirito

Friday, February 6, 2009 The nation’s unemployment rate is 7.6 percent and the U.S. economy lost another 598,000 jobs in January — a larger-than-expected number, as companies continue to cut costs and reduce payrolls. The damage from eight years of … Continue reading →

Posted in Congress, News, Politics, President Barack Obama, Recession | Tagged , , , , , , | 23 Comments

Budget Crisis: Scores of California State Offices Closed Today

Posted on + by Christopher di Spirito

Friday, February 6, 2009 Scores of state offices will be closed today as more than 200,000 workers take their first unpaid day off in response to California’s deepening fiscal crisis. That means Californians won’t be able to take a driver’s … Continue reading →

Posted in Budget Crisis, California, Recession | Tagged , , | 8 Comments

Postmaster Proposes a Cutback in Mail Delivery

Posted on + by Christopher di Spirito

Wednesday, January 28, 2009 What’s next? No electricity between 12 noon and 4 p.m.? Postmaster General John E. Potter asked Congress to allow him to cut mail delivery from six days to five days a week. In testimony prepared for … Continue reading →

Posted in News, Recession, U.S. Economy | Tagged , , , | 12 Comments

America’s Mayors Beg Obama for a WPA-Style Program

Posted on + by Christopher di Spirito

Thursday, November 13, 2008 America is hurting. Eight years of failed economic policy from the Bush administration, a protracted recession, tanking house prices, a dwindling tax base and a staggering national debt, have slammed the budgets of big cities, suburbs … Continue reading →

Posted in President Barack Obama, Recession | Tagged , , | 5 Comments