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Ahead of Labor Day, Obama vows to rebuild American middle class
President Barack Obama on Saturday vowed to expand a prosperous middle class and help his compatriots achieve the American Dream as the country prepared to celebrate Labor Day. “This Labor Day, we should recommit ourselves to our time-honored values and to this fundamental truth: to heal our economy, we need…
China overtakes Japan as No. 2 economy
China overtakes Japan in 2Q as world’s No. 2 economy amid slowdown in recovery Japan lost its place as the world’s No. 2 economy to China in the second quarter as receding global growth sapped momentum and stunted a shaky recovery. Gross domestic product grew at an annualized rate of…
Bloomberg, Murdoch team up on immigration battle
Chief executives of several major corporations, including Hewlett-Packard, Boeing, Disney and News Corp., are joining Mayor Michael Bloomberg to form a coalition advocating for immigration reform  including a path to legal status for all undocumented immigrants now in the United States. The group includes several other big-city mayors and…
Obama plan would see vehicle emissions cut by half over next 20 years
President Barack Obama on Friday mandated a new national policy on cutting greenhouse gas emissions and increasing fuel efficiency for pollution-spewing trucks. Obama signed a memorandum which also expanded his effort to make cars more environmentally friendly, and stipulated new efforts to develop advanced vehicles, including electric cars, the White…
Dem governor: Fox News outdid tea partiers in ‘marshalling anger’
Pennsylvania’s Democratic governor, Ed Rendell, told the hosts of Fox & Friends Monday that they “deserve credit” for the success of the tea party movement, and that the movement could well dissipate if the economy improves. “You guys deserve more credit for marshaling that anger than the tea partiers,” Rendell…
Karen Hughes: Bush rescued the economy
George W. Bush rescued the economy from collapse, according to Karen Hughes. Bush’s former campaign director attacked President Barack Obama on NBC Sunday, defending the record of her former boss on the economy. Speaking about Obama’s successes, journalist Mark Halperin praised the current president’s handling of the economy. “He’s done,…
Kucinich: ‘Class war is over, working people lost’
WASHINGTON — Reflecting on the growing divide between Wall Street and Main Street, Rep. Dennis Kucinich (D-OH) on Wednesday offered a powerful critique on the state of the economy in an open committee hearing. “The class warfare is over — we lost,” Kucinich said before the Committee on Oversight and…
National Republican Congressional Committee web site: economy is robust, job creation strong
This is precious. Talk about a party in disarray. Either the GOP is as delusional as John McCain was on the state of the economy or they have some seriously lameass webmasters over at the National Republican Congressional Committee: “Thanks to Republican economic policies, the U.S. economy is robust and…
Those Damnable Devils
The Village Voice points out that it’s really hard not to report on how terrible the economy is doing when, in fact, the economy is doing terribly. But my favorite part is the (thrice-posted) first comment: Just another sensationalized headline grab to capture ur attention for the advertisers. You know…
Bush: there really is a recession
Breaking news, huh? US President George W. Bush on Friday acknowledged for the first time that the US economy is in a recession after the release of official data showing the worst monthly job losses since 1974. “Today’s job data reflects the fact that our economy is in a recession,”…
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