White House spokesman Jay Carney defended President Obama Tuesday against criticism from prominent Black leaders who have said Obama is ignorning the Black community while reaching out to white independents. According to Carney, the issue is not one of race. The president is helping Black people by working to boost the struggling economy and helping […]
Economists are warning that a recession now would be far worse than the recession that ended in 2007. Today the economy has 5 percent fewer jobs, and the unemployment rate has almost doubled since the onset of the last recession. The NewYorkTimes.com reports: “It would be disastrous if we entered into a recession at this […]
Everyone is up in arms this week as more and more details on the current state of the economy unfold daily. Most recently on The Gayle King Show, Gayle’s special guest Margaret Hoover explained what it all means plus just how the debt ceiling can have a drastic impact on your life in the near future. […]
WASHINGTON — According to a new Quinnipiac poll, voters still blame former President George W. Bush for the economy and not President Barack Obama two and half years in to Obama’s first term. Yahoo reports: According to a new Quinnipiac poll, 54 percent of those surveyed say Bush is responsible for the “current condition” of […]
Republican presidential candidate Newt Gingrich took a shot at President Obama calling America’s economic woes, the “Obama Depression,” on Fox and Friends Sunday morning. Gingrich’s comments come as the president is negotiating a new federal budget with Republicans, and just days after the latest job reports show few signs of economic recovery. “Housing prices have […]
WASHINGTON — After Sen. Jeff Sessions (R-Ala.) said that millionaires paying more taxes to save the economy was “rather pathetic,” another Republican senator spoke against the proposal, suggesting that the poor take the burden instead of the rich. Sen. Orrin Hatch (R-Utah) voted against the measure Thursday, demanding that poor middle-class Americans need to do […]
The U.S. economy took another hit, as the national unemployment rate rose from 9.1 to 9.2 percent, the Department of Labor said Friday. Additionally, the economy added only 18,000 jobs in June, with 14.1 million people out of work, a slight increase from the 13.9 million unemployed Americans reported in May. Black unemployment stayed at […]
CHICAGO — Former president Bill Clinton hosted a two-day job summit in Chicago to seek new, innovative ways to help grow the economy. The Clinton Global Initiative America Jobs Summit’s goal is to share the best ideas and brainstorm new ones, so that individuals, cities, states, and companies can help grow the economy, despite strains […]
Some Americans are willing to work for much less than people from other countries, according to the results of an online experiment conducted by Newsweek. The magazine used Mechanical Turk, a website run by Amazon.com that acts as a marketplace for freelance work. As Newsweek described their method: [W]e posted simple, hourlong jobs (listening to […]
The New York Times is reporting that investors are fleeing the stock market at a sharp pace in response to recent economic news. Wall Street trading took a two percent fall on Wednesday as employers have failed to add jobs to the hiring market at the previously predicted rate. In addition, other factors such as […]
DETROIT — As more U.S. buyers head back into auto dealerships, automakers are jostling for their attention with sweetened deals.
Washington– Blacks are significantly more optimistic about what the future holds for them and the economy, according to a Washington Post/Kaiser Family Foundation/Harvard University poll conducted Jan. 27 – Feb.9. There was also a significant divide in how whites and blacks rated President Obama’s economic policies, with whites taking a far dimmer view than blacks.
