U.S. public debt remains unsustainable and will reach 106 percent of economic output in 25 years, the Congressional Budget Office said.» Read More
President Bush unveiled a $3.11 trillion budget Monday for fiscal year 2009 that begins on Oct. 1. The proposal will be sent to the Democratic-led Congress, likely setting the stage for a fresh round of sparring over spending priorities.
President Bush acknowledged Monday a weaker economy would lead to higher budget deficits, as he unveiled a $3.1 trillion spending plan for fiscal year 2009 that would nearly freeze domestic programs.
Consumers spent less in December than at any time in the past 15 months while applications for unemployment benefits soared last week, two more signs the economy is weakening.
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The Fed cut interest rates another half point, but economists are divided about whether its policy statement will successfully manage market expectations.
The statement released by the Federal Open Market Committee after its January 29-30 meeting on interest rate policy.
The Federal Reserve cut its key interest rate another half point, as expected, and sparked a stock market rally by signaling that further rate cuts are possible.
The Fed is expected to lower U.S. interest rates another half-point Wednesday as part of an ongoing effort to bolster the economy.
Though there’s been much debate over how much the Fed should cut rates, the central bank's statement may be more important to the Fed’s credibility and market expectations.
U.S. economic growth skidded to a five-year low of 0.6% in the fourth quarter, reflecting the toll a slumping housing sector has taken on the national economy.
Critics of many stripes think Bernanke is doing a poor job, whether it is lowering interest rates for the wrong reasons or keeping them too high for too long.
U.S. individuals and businesses are likely to see their borrowing costs drop further as the Federal Reserve weighs another interest-rate reduction to bolster a sagging economy.
Recession. Bear market. Credit crunch. Is it better to stay out of the stock market or use the recent selloff as a buying opportunity?
Talk may be cheap, but the endless chatter about a looming recession may wind up being very costly to the US economy.
President Bush on Friday called for about $145 billion worth of tax relief and other incentives to stimulate a sagging economy and fend off a possible recession.
Forget a half-point cut. Wall Street is now speculating that the Fed will lower rates another three-quarters of a point next week.
The slowing economy will not sink into an election-year recession and an economic rebound is likely beginning next year, the CBO forecast Wednesday.
The Federal Reserve's decision to slash interest rates by 75 basis points on Tuesday was a bold, well measured move to avoid a sharp slowdown in the U.S. economy, John Snow, former U.S. Treasury Secretary & chairman of Cerberus Capital, told CNBC's "Squawk Box Europe."
President Bush said he is confident that Congress and the administration will be able to approve a stimulus package to jump-start the economy and calm fears of recession that have shaken financial markets worldwide.
There is no quick cure for what ails the U.S. economy, but if the Fed's surprise rate cut instills confidence, it may speed a recovery.