WASHINGTON (AP) — President Barack Obama says the economy is showing new signs of strength. He’s pointing to the auto industry, new jobs and a recovering housing market as signs of progress. In his weekly radio and Internet address, Obama calls on Congress to do more to ensure that progress continues. He’s asking lawmakers to […]
AUSTIN, Texas (AP) — Aiming to show he’s still focused on creating jobs, President Barack Obama is beginning a series of quick trips around the country to resurrect ideas from his State of the Union address that became overshadowed by the intense debates over gun control, immigration and automatic spending cuts. Obama on Thursday dropped […]
In a bid to spark development in low-income and under-served communities, the U.S. Department of the Treasury announced on Wednesday that it will award $3.5 billion in tax credits to several organizations. The New Markets Tax Credit will be distributed among 85 organizations that will channel the credits through 28 states and Washington, D.C. The Treasury Department’s Community Development Financial […]
Gold has been making headlines lately for its plummeting value. What does that mean for us? The answer is not much. Most individual investors don’t own gold beyond what’s found in their jewelry box. Gold is what’s known as a “fear trade.” Its price climbs when investors lose confidence in the traditional stock market. This […]
DETROIT (AP) — In basketball and in business, Dave Bing never side-stepped a challenge. But the overwhelming weight of Detroit’s financial problems and other troubles faced by the former manufacturing hub have convinced the former NBA great, steel supply company founder and first-term mayor that he may have to pass control of the city over […]
PHILADELPHIA (AP) — Philadelphia school parents, students and staff are coming to grips with the impending closure of 23 public schools. University City High School Principal Timothy Stults said Friday his students are grieving the loss of their school, which will close in June. A day earlier, officials voted to shutter about 10 percent of […]
WASHINGTON (AP) — Republicans pushed legislation through the House on Wednesday to ease the short-term impact of $85 billion in spending cuts and prevent a government shutdown this month — at the same time previewing a longer-term plan to erase federal deficits without raising taxes. President Barack Obama pursued a different path as the GOP […]
In the 1980s, we saw a large scale dismantling of civil rights gains and the triumph of “trickle-down” economics. As part of the trickle – down economics strategy, government implemented broad financial deregulation, specifically in the mortgage industry. Unfortunately, the strategy set the stage for the 2008 housing crisis. Since the Great Depression, the U.S. […]
WASHINGTON (AP) — Even with automatic spending cuts looming, the outlook for the U.S. economy brightened a bit Tuesday after reports showed that Americans are more confident and are buying more new homes. Home prices are also rising steadily, and banks are lending more. Such improvements suggest that the economy is resilient enough to withstand […]
WASHINGTON (AP) — The new White House chief of staff says President Barack Obama is concerned about the effect the automatic budget cuts scheduled for next month will have on America’s middle class. Denis McDonough tells ABC’s “This Week” that the economy has been getting stronger over the past few months. He cites improvements in […]
President Obama often calls the 2008 economic crisis the worst economic crisis since the Great Depression. In the 1930s, all Americans faced staggering rates of unemployment and poverty. Economic uncertainty and despair were commonplace for most and the American Dream seemed unattainable. However, even when the entire nation was suffering, the economic realities that African […]
It’s a new year and Mellody Hobson is here to get us in shape financially for 2013. — So we avoided the fiscal cliff but there are other things in store for us in 2013 and I want you to be prepared. First of all, certain popular items are going to cost more. For starters, […]
