Archive for the “Economic” Category

Full Story at Newsweek.com

It’s not just the 4th of July holiday that’s raising memories of revolution. The idea of active anti-government resistance, once the province of the fringe or a mere historical parable, is now a common component of the national discourse. If all the voices actively calling for or raising the specter of insurrection since Obama’s election in 2008 were to have their way, there would be a logjam of militias on the White House lawn. Three-cornered hats and muskets would sell out in minutes. They’d have to institute a ticket system. One pitchfork jab per man, woman, or child.

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Full Story atpoliticalticker.CNN.com

Macon, Missouri (CNN) – President Barack Obama donned a hard hat and goggles Wednesday to tour an ethanol plant in Missouri, then touted biofuel production and other alternative energy sources to free the United States from dependence on foreign oil.

On the second day of his two-day swing through Iowa, Missouri and Illinois, Obama told workers at the POET Biorefining plant in Macon that their work creates a stronger economy for the nation and their own community.

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Full Story at msnbc.com

WASHINGTON – Long-awaited climate change legislation was put on hold by its authors Saturday when a dispute over immigration politics and Senate priorities threatened to unravel a bipartisan effort that took months of work.

Voicing regrets, Sen. John Kerry said Saturday he is postponing the much anticipated unveiling of comprehensive energy and climate change legislation scheduled for Monday. The Massachusetts Democrat made his announcement after a key partner in drafting the bill, Republican Sen. Lindsey Graham of South Carolina, threatened to withhold support if Senate Democratic leaders push ahead first with an immigration bill.

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Full Story at msnbc.com

NEW YORK – Tea party supporters are wealthier and more well-educated than the general public, tend to be Republican, white, male, and married, and their strong opposition to the Obama administration is more rooted in political ideology than anxiety about their personal economic situation, according to the latest New York Times/CBS News poll.

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Full Story at CNN.com

(CNN) — Extended unemployment benefits will temporarily expire for thousands of Americans on Monday because the Senate went on its spring recess without approving a one-month deadline extension.

The extension, which had bipartisan support, would have cost about $10 billion, but a lone Republican, Sen. Tom Coburn, said no until the costs are offset.

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Full Story at msnbc.com

Nearly a year after the federal rescue of the nation’s biggest banks, taxpayers have begun seeing profits from the hundreds of billions of dollars in aid that many critics thought might never be seen again.

The profits, collected from eight of the biggest banks that have fully repaid their obligations to the government, come to about $4 billion, or the equivalent of about 15 percent annually, according to calculations compiled for The New York Times.

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Full Story at CNN.com

Activists said the TEA Party Day — an acronym for “Taxed Enough Already” — was in response to what they called runaway government spending.

They are taking to task the Obama administration’s stimulus program and health care initiative, and say Congress is not giving constituents enough information about where their tax money is spent.

People at the rally expressed outrage at the $787 billion economic stimulus plan passed earlier this year, saying the bill racked up a huge national debt that will be passed onto their grandchildren. They said President Obama’s push for health-care overhaul is “socialism,” and believe it would negatively affect the quality of care.

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Full Story At CNN.com

Vice President Joe Biden on Monday is presenting to President Obama the “Roadmap to Recovery,” a plan to accelerate the implementation of the $787 billion stimulus plan in its second 100 days.

Obama signed into law the American Recovery and Reinvestment Act in February, vowing the program would create or save 3.5 million jobs. So far, 150,000 jobs have been saved or created by the plan — fewer than that 345,000 jobs lost in May alone.

The White House says as a result of the expedited pace, the recovery plan will create or save more than 600,000 jobs in the second 100 days.

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Full Story At msnbc.com

WASHINGTON – Top executives of the nation’s biggest banks said Friday after meeting with President Barack Obama that they will work with the administration on its economic recovery plans, but want more specifics from the White House.

Bankers said an administration proposal to jump-start lending, a problem at the heart of the industry’s crisis, is encouraging.

“People are looking at that. It’s positive,” Morgan Stanley’s John Mack told The Associated Press in an interview. “

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