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Economic Recovery

FDIC: Bank Lending Tumbles 7.5 Percent In 2009

washingtonpost.com | Binyamin Appelbaum | Posted 05.25.2011 | Business

Lending by the banking industry fell by $587 billion, or 7.5 percent, in 2009, the largest annual decline since the 1940s, the Federal Deposit Insuran...

Consumer Confidence Plummets, Approaches Historic Lows On Rising Job Worries

AP | ANNE D'INNOCENZIO | Posted 05.25.2011 | Business

NEW YORK — Americans' confidence in the economy has suffered a sudden relapse, dimming hopes that they will start spending – and spurring ...

James Galbraith: Jobs, Not Deficit Reduction, Is Policy Focus

guardian.co.uk | James K. Galbraith | Posted 05.25.2011 | Business

"Growth," James Galbraith writes in The Guardian, "is not assured; it cannot be assumed; and it is not even the highest priority." Instead, he says, "...

Mortgage Delinquencies Decline In 4Q

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — The end of the foreclosure crisis is finally in sight. For the first time in almost three years, the number of homeowners falling b...

It's a Good Thing We're Still Talking About the Stimulus

Harry Moroz | Posted 05.25.2011 | Politics
Harry Moroz

What has been absent in the current debate is a shift in how policymakers will think about economic stimulus -- and, particularly, about economic recovery -- in the future.

Walmart Earnings: 4Q Profit Rises 22 Percent

AP | ANNE D'INNOCENZIO | Posted 05.25.2011 | Business

NEW YORK — After nearly 50 years of hammering competitors with discounts, Wal-Mart is getting a taste of its own medicine. The world's largest ...

Laura Bassett

Rattlesnake For Breakfast, Wedding Rings On Craigslist: Families Cope With Falling Out Of The Middle Class

HuffingtonPost.com | Laura Bassett | Posted 05.25.2011 | Impact

As part of our Bearing Witness 2.0 project, the Huffington Post is rounding up local stories of formerly middle-class families who are now struggling ...

Remarks From The Economist's Russia Business Roundtable in Moscow

Arkady Dvorkovich | Posted 05.25.2011 | World
Arkady Dvorkovich

The Russian government stands ready to help businesses by fostering a climate that combats corruption and offers political and economic stability.

Happy Anniversary, Recovery Act

Bob Cesca | Posted 05.25.2011 | Politics
Bob Cesca

Regardless of the inability of the Democrats to sell their most successful policies, along with the inability of the Republicans to tell the truth about all of those check-cashing ceremonies they're attending, the recovery act has worked.

Google Payroll Shrinks For First Time In 2009

footnoted.org | Michelle Leder | Posted 05.25.2011 | Business

If you thought that Google (GOOG) was immune to the sluggish economy in 2009, think again. Buried deep in the 10-K that the company filed late Friday ...

Ignorance Is No Longer Bliss

Stephen Herrington | Posted 05.25.2011 | Politics
Stephen Herrington

Hint Tea People, your nominally anti-establishment movement is the most potent force available for supporting the establishment.

Humana Layoffs: Insurer Plans To Cut 2,500 Jobs

AP | Posted 05.25.2011 | Business

LOUISVILLE, Ky. — The insurer Humana said Wednesday it will cut about 2,500 positions as it adjusts to a smaller enrollment. Its Medicare enrol...

A 10-Point Program for Job Creation and Economic Transformation

Bradford Kane | Posted 05.25.2011 | Politics
Bradford Kane

The focus of job proposals should be on transformative economic development in key industries that hold the promise of becoming the drivers of economic prosperity for years to come.

The Recovery Act -- One Year Later

Sec. Hilda Solis | Posted 05.25.2011 | Business
Sec. Hilda Solis

There's been a lot of rhetoric about the Recovery Act, but there is no question it has saved or created millions of jobs. It's one of the main reasons the economy has gone from shrinking by 6% to growing at about 6%.

January Housing Construction Rises More Than Expected

Posted 05.25.2011 | Business

WASHINGTON (MARTIN CRUTSINGER-- AP) -- Housing construction posted a better-than-expected increase in January which pushed activity to the highest lev...

Unemployment Benefits: Five Million Workers' Benefits To Expire By June

calculatedriskblog.com | Posted 05.25.2011 | Business

Back in December, the qualification dates for existing tiers of unemployment benefits were extended for an additional two months. Time is up at the en...

Is the Recovery Really Working? (VIDEO)

Rinku Sen | Posted 05.25.2011 | Politics
Rinku Sen

President Obama says the stimulus saved or created 2 million jobs in 2009. Yet the American dream of good jobs and strong communities is still just a dream for too many.

Employers Are Hiring More Temporary Workers - But They May Not Hire Permanent Workers Anytime Soon

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — It's not the signal it used to be. When employers hire temporary staff after a recession, it's long been seen as a sign they'll so...

Does California Have What It Takes to Recapture a Golden Destiny?

Dennis Santiago | Posted 05.25.2011 | Los Angeles
Dennis Santiago

How can the state with the largest contribution to the US GDP, an amount that would put it 9th in the world if it were a nation unto itself, be on the verge of financial collapse?

London Banker Bonuses, Salaries surge

Reuters | Posted 05.25.2011 | Business

LONDON (Reuters) - Bankers in London have received average bonus increases of 40 percent this year and most have also received a jump in base salary, ...

Stephen Schwarzman: Bank Bashing Could Destroy The Recovery

Huffington Post | Grace Kiser | Posted 05.25.2011 | Business

One of the world's richest people is once again claiming that bank bashing is preventing the industry from fully recovering -- and even from lending. ...

The Mistake of the Mini-Stimulus

Harry Moroz | Posted 05.25.2011 | Politics
Harry Moroz

The federal government is both privileged and cursed with the capacity to impact the economy. A federal "jobs bill" that is more reminiscent of a state-level mini-stimulus package would just be election-year white noise.

Bernanke Stimulus Testimony: Interest Rates Will Remain At Record Lows For An "Extended Period"

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — Prepare for the end of record-low interest rates, Federal Reserve Chairman Ben Bernanke says. Just not yet. Higher rates on credit...

Unemployment Taxes: Companies Face Huge Fee Hikes In 2010

CNN Money | Tami Luhby | Posted 05.25.2011 | Business

NEW YORK (CNNMoney.com) -- Employers are getting hit with a massive tax hike at a time when they can least afford it. Companies in at least 35 states...

Small Business Owners Dark clouds hang over U.S. small businesses: Survey

Posted 05.25.2011 | Business

WASHINGTON (Reuters) - The outlook of small business owners remained bleak at the start of the new year, according to a survey released on Tuesday by ...