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Tag Archives: U.S. Economy
Quote of the Day
Friday, March 20, 2009 “You owe the American people every penny of your fortune and your family’s fortune.” — Suze Orman, in the Wall Street Journal, expressing her scorn for former president George W. Bush
House Approves 90% Tax on Bonuses After Bailouts
Friday, March 20, 2009 By a vote of 328-to-93, the U.S. House of Representative approved a 90% tax on bonuses paid this year to employees of AIG. Nearly half of House Republicans joined Democrats in supporting the measure,which would tax … Continue reading
BREAKING: “I Was Responsible for [AIG] Bonus Loophole”
Thursday, March 19, 2009 Senate Banking committee Chairman Sen. Dodd told CNN’s Dana Bash and Wolf Blitzer Wednesday that he was responsible for adding the bonus loophole language into the stimulus package that permitted AIG and other companies that received … Continue reading
Posted in Bailout, Congress, Democrats, News, Politics, U.S. Economy
Tagged AIG, Bailouts, Congress, Democrats, News, Politics, U.S. Economy
10 Comments
Senate Prepares to Loan FDIC $500 billion
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 News, Recession, U.S. Economy, U.S. Senate
3 Comments
GM to Shed 47,000 Jobs
Wednesday, February 18, 2009 The horrific job news just keeps coming. General Motors announced Tuesday it may need $30 billion in total government financing to weather the economic downturn and would cut 47,000 jobs worldwide and shutter five more U.S. … Continue reading
Posted in News, U.S. Economy
Tagged Big Three Automakers, Detroit, GM, News, Recession, U.S. Economy
5 Comments
Postmaster Proposes a Cutback in Mail Delivery
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
Circuit City to Liquidate Remaining 567 Stores
Friday, January 16, 2009 Another casualty of the Bush nightmare. Circuit City, the nation’s second-biggest consumer electronics retailer, reached an agreement with liquidators on Friday to sell the merchandise in its remaining 567 stores after failing to find a buyer … Continue reading
Posted in Bush Administration, News, U.S. Economy
Tagged Bush Administration, News, U.S. Economy
18 Comments
Could the New York Times Stop Publishing?
Thursday, January 8, 2009 The short answer is, yes. According to a sobering piece in The Atlantic: Earnings reports released by the New York Times Company in October indicate that drastic measures will have to be taken over the next … Continue reading
Posted in Business, Media, News, U.S. Economy
Tagged Business, Media, New York Times, News, U.S. Economy
12 Comments
Macy’s to Close 11 Stores in 9 States
Thursday, January 8, 2009 Another sign of the worsening conditions enveloping the U.S. economy. Macy’s announced Thursday it will close 11 underperforming stores in nine states affecting 960 employees after one of the weakest holiday seasons in years. Stores slated … Continue reading
Goverment Supplies Another $15 Billion to Banks
Wednesday, January 7, 2009 And yet they still refuse to lend! Funny how it all works. The government said Monday it had supplied another $15 billion to seven banks in the latest round of payments from the $700 billion rescue … Continue reading
From the Left 