With nearly all Republicans voting in favor and most Democrats opposed, the bill cleared the House by a vote of 237-173. The White House threatened to veto the bill, though the Democratic-controlled Senate is unlikely to pass it. Dave Camp R- Mich., chairman of the tax-writing House Ways and Means Committee.» Read More
Keep track of what Obama has been doing since taking office:
President Obama's much-anticipated plan to deal with the U.S. housing crisis aims to help as many as 9 million families avoid foreclosure on their homes.
President Obama's much-anticipated plan to deal with the U.S. housing crisis aims to help as many as 9 million families avoid foreclosure on their homes, one of the root causes of the global financial meltdown.
The U.S. Congress was expected to pass a $789 billion economic stimulus package aimed at unleashing large spending and tax cuts to help yank the economy out of a 14-month recession.
US lawmakers prepared Thursday to pass a $789 billion stimulus package to revive the struggling economy in a victory for President Barack Obama that some warned may have costly consequences.
Banking leaders who benefited from a federal bailout are bringing a message of accommodation and gratitude to Congress, hoping for a better reception than the one given Treasury Secretary Timothy Geithner.
The Obama administration's financial-rescue plan contains a number of measures meant to ease the credit crunch, including a public-private initiative to take bad assets off of banks' balance sheets.
The Obama administration pushed back the announcement of a keenly awaited bank rescue plan until Tuesday as it pressed lawmakers to settle their differences over a huge economic stimulus package.
President Barack Obama plans to participate in town hall-style meetings next week in two cities that have struggled amid the crumbling economy.
The Democratic-led Senate will try again to pass a $937 billion stimulus package aimed at boosting the battered economy as some of the worst unemployment data in decades boosted political pressure for a deal.
President Barack Obama warned that failure to act on an economic recovery package could plunge the nation into a long-lasting recession that might prove irreversible, a fresh call to a recalcitrant Congress to move quickly.
President Obama kicks off a campaign to rein in corporate compensation with rules limiting executive pay to $500,000 a year for companies getting taxpayer bailout funds in the future.
Wednesday night’s House tally on the Democratic stimulus package, where not a single Republican voted in favor, was another shot across the bow for this incredibly unmanageable $900 billion behemoth of a program that truly will not stimulate the economy.
It's not just what's heard, it's what's seen at the security check lines at Davos.
Estimating how effective the huge program of tax cuts and spending will be in getting America’s economic engines humming again is a far more complex calculation requiring almost line-by-line scrutiny of the 647-page bill, lawmakers, the New York Times reports.
The New Deal was actually a combination of socialism and cartelization of industry with price controls and failed to stimulate growth and helped plunge the economy into the "Depression within a Depression" in 1937, says Andrew Busch.
Moving with remarkable speed, the Democratic-controlled U.S. House of Representatives approved $819 billion in spending increases and tax cuts at the heart of President Barack Obama's economic recovery program.
Obama used his talks with business leaders to keep up a lobbying campaign for passage of his economic plan, which could be the signature domestic initiative of his first term as he struggles to deal with the worst financial crisis in decades.
President Obama is moving quickly to act on the environmental promises that were a centerpiece of his campaign. But tackling global warming will be far more difficult — and more costly — than the new emissions standards for automobiles he ordered with the stroke of a pen on Monday, the New York Times reports.
Since Geithner is something of a wounded warrior from the tax non-payment controversy, Team Obama’s economic policy is shifting toward a Larry Summers power-center right now.