The White House says a costly spending bill President Barack Obama signed into law five years ago Monday was good for the economy and helped the U.S. avoid another Great Depression.
The United States moved closer to the possibility of the first-ever default on the government’s debt Sunday as Speaker John Boehner adamantly ruled out a House vote on a straightforward bill to boost the borrowing authority without concessions from President Barack Obama.
The gap in employment rates between America’s highest- and lowest-income families has stretched to its widest levels since officials began tracking the data a decade ago, according to an analysis of government data conducted for The Associated Press.
America’s lower-income workers have posted the biggest job gains since the deep 2007-09 recession — but few are bragging.
U.S. banks are ending the year with their best profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008. They’re helping support an economy slowed by high unemployment, flat pay, sluggish manufacturing and anxious consumers.
America’s population is now increasing a bit faster thanks to an improving economy, but not enough to lift growth above its lowest level since the Great Depression.
Slowly but surely the economy is picking up steam. Today’s job numbers are another data point that Barack Obama and Democrats have put the country on a path to recovery from the economic carnage of the Bush Administration.