Our nation faces the most predictable economic crisis in its history. Spending is rising rapidly, and revenues are failing to keep pace. As a result, the federal government is forced to borrow huge sums each year to make up the difference. If not addressed, burgeoning deficits will eventually lead to a fiscal crisis, at which point the world's financial markets will force decisions upon us.
Congress is facing a busy couple of weeks. Really busy.
House Republicans on Thursday gave more clarity to the size of cuts they want to make in domestic spending this year.
The president showed his greatest talent last night in his State of the Union speech -- and that talent is making a speech that makes everyone feel good.
The final vote on the National Commission on Fiscal Responsibility and Reform Commission's report serves as a concrete example of the disconnect between main street and Washington as well as the dysfunctional state of our current political system.
The refinancing tide has ebbed, but mortgage profits for the nation's biggest banks are in no danger of drying up.
Data suggest the economic contraction may be slowing, but the economy is hardly out of the woods, Federal Reserve Chairman Ben Bernanke told lawmakers on Wednesday.
The economy will start growing in the second half of 2009, but it will be several years before the positive effects of a turnaround will be felt, the Congressional Budget Office said Thursday.
The long-term cost of the $825 billion economic recovery package before Congress could rise to $1.2 trillion over 10 years, a top budget official said Tuesday.
CNNMoney: Where things standupdated: Wed Sep 24 2008 17:45:00
As the Bush administration continued to push Congress to accept its rescue proposal, the president geared up for a prime-time address to the nation Wednesday night - his biggest push yet for the proposed $700 billion bailout of the U.S. financial system.
Average Americans aren't the only ones who think they don't have enough information to assess the Treasury's proposal to buy up to $700 billion of troubled mortgage assets.
Federal Reserve Chairman Ben Bernanke told Congress Thursday that legislators should enact a fiscal stimulus package in order to help beleaguered consumers as recession fears grow.
Stocks opened higher Thursday as investors await Congressional testimony from Federal Reserve Chairman Ben Bernanke.
A nearly $10 billion loss from Citigroup. Weak retail sales last month. Rising inflation pressures. It's ugly out there.
The wars in Iraq, Afghanistan and anti terrorist efforts abroad could cost the country $2.4 trillion over the next ten years, according to a report Wednesday.
The following is Federal Reserve Chairman Ben Bernanke's testimony before the House Budget Committee on Wednesday:
CNNMoney: Stocks in struggleupdated: Wed Feb 28 2007 09:06:00
Stocks struggled early Wednesday, turning mixed a day after a huge selloff resulted in the blue-chip Dow Jones industrial average posting its biggest one-day drop in more than five years.
Merrill Lynch & Co. Inc. annouced Wednesday former congressman Harold E. Ford will join the firm as vice chairman and senior policy advisor, effective March 5.
A report from the Congressional Budget Office says President Bush's plan for a troop increase in Iraq could cost up to $27 billion for a 12-month deployment.
Is it time to close the book on the speculation theory of crude oil prices?
The dollar gained on the euro and the yen Thursday as traders bet the monthly payrolls report due Friday would show robust jobs growth.
Stocks slipped Wednesday morning as investors sorted through some disappointing earnings news and geared up for key comments from Fed Chairman Alan Greenspan.
Treasuries were mixed Wednesday after Federal Reserve Chairman Alan Greenspan cited concerns about the budget deficit and the rising costs of Social Security, but bypassed talk of inflation or any hints of faster rate hikes.
Investors were awaiting the latest testimony on the state of the economy from Federal Reserve Chairman Alan Greenspan due Wednesday morning.
A sharply divided Congress began debating the Bush administration's $2.57 trillion budget for fiscal year 2006 Tuesday, with Democrats criticizing administration officials on topics from the proposed Social Security overhaul to the deficit.
A sharply divided Congress began debating the Bush administration's $2.6 trillion budget for fiscal year 2006 Tuesday, with Democrats sniping at administration officials on topics such as the nation's Social Security system and the deficit.
Stocks rose early Thursday as investors pounced on Nokia's bullish forecast, Texas Instrument's mixed forecast and a drop in weekly jobless claims.
Federal Reserve Chairman Alan Greenspan told Congress Wednesday the economic recovery has regained some momentum after hitting a "soft patch" amid soaring oil prices.
CNNMoney: Stocks slip at startupdated: Wed Sep 08 2004 09:12:00
U.S. stocks opened marginally lower Wednesday as some gloomy corporate news combined with cautiousness ahead of testimony by Federal Reserve Chairman Alan Greenspan before a Congressional panel.
Treasury prices rose Wednesday after Federal Reserve Chairman Alan Greenspan painted a portrait of a mildly recovering economy, laced with caveats, and suggested inflation has, for now, been kept in check.
If the nation's leading Fed head, Alan Greenspan, has any doubts about hiking rates at the Fed's meeting in two weeks, now is the day he can dispel them as he testifies before the House Budget Committee.
The U.S. currency slipped while prices of Treasury securities posted small gains Tuesday after steep gains last week, with investors turning cautious ahead of a speech by Federal Reserve Chairman Alan Greenspan on Wednesday.
A White House memo instructs government agencies to consider possible budget reductions in 2006, and Democrats -- who distributed the document -- asserted cuts in various education, environmental and veterans programs could be expected.
The House on Thursday narrowly approved a Republican-drawn budget for 2005 that is very similar to President Bush's request.
Treasury prices traded higher Wednesday, but the gains were capped as the market carefully listened to a slew of official comments and digested a sale of new U.S. government debt.
U.S. stocks take a five-session losing streak into trading on Wednesday, when a report on the housing market and new testimony from Alan Greenspan will help give some guidance on the economy.
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