What began as a whisper on Wall Street became a deafening roar at the end of last week. Could General Motors, the largest carmaker in the world and the backbone of American industry, be preparing to file for bankruptcy?
Only in Washington DC can a spending increase be called a spending cut— but that’s what happened last week. Congress passed a budget bill that merely slows the rate at which some federal spending grows by a tiny percentage, and both parties acted as
General Motors Corp. will eliminate 30,000 manufacturing jobs and close nine North American assembly, stamping and powertrain plants by 2008 as part of an effort to get production in line with demand and return the company to profitability and long-t
Real money is international. It matters not what nation state or private party mints it. Money can come in all shapes and sizes. It has enduring value for hundreds of years. It can be put in a vault and found by anyone in the future and retains its v
Would you rather hold one thousand dollars...or two ounces of gold? It is a little like asking if we would rather have one old woman dressed for Sunday services or two young ones stark naked. Ask us something harder.
This is one of the reasons why socialism never worked, nor can it ever work. Under the banner of socialism, the pretensions of politicians have caused many decades of poverty, starvation, and even genocide, as socialist dictator after dictator purged
For all the passionate debate this bill has generated, its effect on the federal government and taxpayers are relatively minor. This bill reduces spending $50 billion over 10 years; the most recent “emergency” supplemental appropriated $82 billion d
As rural economies collapse, communities across America are being deserted. The depopulation of the countryside over the last 50 years has been called the largest migration in American history.
The U.S. Senate approved a $60 billion tax cut bill on Friday that would impose a $5 billion tax on big oil companies and provide new tax breaks to help rebuild hurricane devastated regions.
The House of Representatives narrowly voted to trim social programs for the poor along with farm subsidies, student loans and other federal benefits as part of a $49.9-billion package of spending cuts.
The U.S. Senate boosted the borrowing authority of the government's flood insurance program to $18.5 billion from $3.5 billion to cover claims from Hurricane Katrina and other flood disasters. A House committee voted to go even further and raise
Mandatory funding for two controversial bridge projects in Alaska has been stripped from a federal spending bill. As a compromise, Alaska will still receive the money that had been set aside for the bridges to spend as it likes on transportation need
Legislation aimed at strengthening traditional corporate pensions and shoring up the deficit-ridden pension insurance agency was easily approved by the U.S. Senate with a generous exemption for struggling airlines.
Ben Bernanke, President Bush's pick to succeed Alan Greenspan at the Federal Reserve, vowed to protect both price stability and jobs should the Senate confirm him for the job -- confronting Washington and Wall Street concerns.
Shares of Target Corp. suffered their biggest one-day drop in at least five years Tuesday after warning of weaker same-store sales, which some investors took as a warning flag for the entire retailing sector ahead of the key holiday shopping season.
The comptroller general of the United States is explaining how the nation's finances are going to hell. "We face a demographic tsunami" that "will never recede," David Walker said. The retirement of baby boomers,their Medicare
Federal Reserve Chairman nominee Ben Bernanke vowed to fight for U.S. price stability and said while a stated inflation goal could improve monetary policy, he would not rush to take such a step.
The policies of US President George W. Bush and his administration have been destabilizing for Asia with Washington seen as a bully, according to a poll of senior foreign business executives working in the region.
Federal Reserve chief Alan Greenspan said the huge US current account deficit cannot expand forever but was confident the economy can cope if foreign investors start to bail out.
President Bush said on Saturday the new Medicare prescription drug benefit that begins enrollment next week was "the greatest advance" in health care for the elderly, and urged seniors to learn more about it.
Ben Bernanke, President George W. Bush's pick to succeed the all-powerful Alan Greenspan as Federal Reserve chairman, will appear before US senators Tuesday for a crucial confirmation hearing.
Having spent the last 5 years out-pandering the Democrats by spending money to buy off various voting constituencies, congressional Republicans now find themselves forced to appeal to their unhappy conservative base by applying window dressing to the
President Bush's political woes are rattling the Republican-led Congress where his majority party is starting to lose control of its conservative agenda, congressional officials and political analysts say.
House Republican leadership is scrambling after being unable to pass a major budget bill following defections from numerous members of their own party, RAW STORY has learned. Rank-and-file Republicans are upset at the extent of spending cuts in the b
The chiefs of five major oil companies defended the industry's huge profits at a Senate hearing where lawmakers said they should explain prices and assure people they're not being gouged.
Britain's visiting Defence Secretary John Reid met with Defense Secretary Donald Rumsfeld amid reports that the Pentagon is preparing for a possible $32 billion cut in defense spending over the next five years that could cut into major weapons pr
Discounting along with other measures led to cumulative savings for consumers of $263 billion between 1985 - 2004, or $895 dollars per person in USA, generating 210,000 jobs. "Consumers earned less in nominal dollars, but their income bought the
With talks stalled on forming a massive free trade zone from Alaska to Argentina, Mexico's president floated a proposal: Exclude dissenting countries like Venezuela and make a smaller alliance that would still rival the European Union.
The Senate passed bill calls for mild cuts in the health care programs for the elderly, poor and disabled, while leaving the food stamp program untouched. A House plan approved by a key committee cuts more deeply across a broader range of social prog
An academically dry, but absolutely correct explanation of inflation of any currency or higher prices. And all in six short paragraphs of 100% completeness.Entered By: Powell Gammill