There’s a class war coming to the world of government pensions. The haves are retirees who were once state or municipal workers. Their seemingly guaranteed and ever-escalating monthly pension benefits are breaking budgets nationwide.
President Barack Obama hailed the seventh straight month of private job creation in July as a good sign for the economy, but notes the progress "needs to come faster."
S&P futures initially dropped about 10 points following a very poor non-farm payrolls report. July payrolls fell 131,000, more than double the 60,000 decline expected by economists. Government job losses were particularly notable. The key reading of private sector jobs also disappointed the Street (gain of 71,000 vs. gain of 83,000 consensus).
Will higher tax penalties on investment really spur jobs and faster economic growth? Most commentators would say no. It’s really a matter of economic common sense. But Tim Geithner says, Yes!
The president has an opportunity to ensure that it's not just the "fat cats" that benefit from GM's public stock offering, Cramer said.
When I sat down to talk with President Barack Obama at the Ford plant on the south side of Chicago, I knew he would tell me the auto industry is in far better shape because his administration stepped in last year to save GM and Chrysler.
Debate has been heating up over the tax cuts enacted by President Bush that are set to expire at the end of the year...
US taxpayers will be repaid in full for the government bailout of General Motors when the once-bankrupt automaker offers stock to the public later this year, President Obama said in an interview on CNBC Thursday.
With Congress set to debate extending the Bush tax cuts, there are risks to small business from raising taxes on the “wealthy”. US Treasury Secretary Tim Geithner gave a speech yesterday in Washington on the Obama administrations economic case for raising taxes on high earners.
Food and personal care giant Uniliver (think Hellman's mayonnaise, Ben & Jerry's, Lipton tea, Dove soap, etc.) the latest food company to report being caught in a vise.
With a Ford Motor assembly plant as the setting, President Barack Obama is arguing anew that his politically risky decision to bail out the auto industry saved it from collapse.
S&P futures rose 5 points following a better-than-expected ADP employment report. The firm reported a slightly better-than-expected gain of 42,000 private sector jobs (vs. up 39,000 expected) in July, giving hope of a better government July jobs report on Friday.
President Barack Obama is pledging a relentless fight to rebuild the economy as millions of families struggle.
The public is beginning to understand that the economic recovery remains very tenuous. Therefore, we do not believe that any new taxes, including an increase in rates on the "rich", would receive much popular support at this stage.
Thirteen months into recovery from a deep recession, this is disappointing. The economy must add 13 million private sector jobs by the end of 2013 to bring unemployment down to 6 percent. President Obama's policies are not creating conditions for businesses to hire those 320,000 workers each month, net of layoffs.
Some of the smartest and most successful investment brains are on opposite sides of that question. The right answer matters a whole lot.
Facing pressure from critics of Wall Street to limit its role in elections, Goldman Sachs has pledged not to spend any of its vast corporate reserves on political advertising. The NYT reports.
Yes, they need to be cut. It’s how to do it. In Newsweek, Fareed Zakaria states, “Raise My Taxes, Mr. President!” and the NYT Sunday Op-Ed had something similar entitled, “What They’re Not Telling You.” Both articles are worth reading to understand the US fiscal deficit and how it became $1.4 trillion.
Politics and the dollar are the biggest problems, but various industries identified dozens of smaller hurdles that they claim hinder trade. The NYT reports.
History shows that the S&P 500's performance during the three calendar months leading up to the presidential election have been a good predictor of whether the president or his party are re-elected.