Economy

US Economy Grew at Strong 3.2 Percent Rate in First Quarter
Economy
US Economy Grew at Strong 3.2 Percent Rate in First Quarter
2019-04-26 20:26:35
by Dan McCue

The U.S. economy grew at a solid 3.2 percent annual rate in the first three months of the year, the Commerce Department reported Friday. The numbers for the nation's gross domestic product were far better than expected and show an... Read More

Cunningham Warns Fight ‘Far From Over’ As White House Delays Offshore Drilling Plan
Economy
Cunningham Warns Fight ‘Far From Over’ As White House Delays Offshore Drilling Plan
2019-04-25 21:23:09
by Dan McCue

The Trump administration has indefinitely delayed its controversial plan to expand oil and gas exploration off the Atlantic Coast citing the need to await the outcome of litigation that currently blocks similar drilling in the Arctic. In March, U.S. District... Read More

Unemployment Claims Post Largest Increase in Nearly Two Years
Economy
Unemployment Claims Post Largest Increase in Nearly Two Years
2019-04-25 18:14:57
by Dan McCue

The number of Americans filing applications for unemployment benefits saw their largest increase in 19 months last week, the Labor Department reported Thursday. Initial claims for state unemployment benefits jumped 37,000 to a seasonally adjusted 230,000 for the week ended... Read More

US Court Allows Patent for Marijuana Formulation
Litigation
US Court Allows Patent for Marijuana Formulation
2019-04-23 21:14:17
by Tom Ramstack

A federal court ruling last week set a precedent for property rights to cannabis products in the quickly growing marijuana industry. U.S. District Judge William Martinez, an Obama appointee who presides in Colorado, ruled that cannabinoid formulations can be considered... Read More

Social Security Costs to Exceed Income in 2020, Trustees Say
Entitlements
Social Security Costs to Exceed Income in 2020, Trustees Say
2019-04-22 23:10:42
by Dan McCue

Both Social Security and Medicare are on unstable financial footing, and lawmakers need to act sooner rather than later to shore up America’s bedrock retirement programs and phase in needed changes, the trustees of both programs said in reports released... Read More

Cain Withdraws from Consideration for Seat on Federal Reserve
Federal Reserve
Cain Withdraws from Consideration for Seat on Federal Reserve
2019-04-22 20:31:26
by Dan McCue

Former Godfather’s Pizza CEO Herman Cain has withdrawn from consideration for a seaton the Federal Reserve board amid focus on past allegations of sexual harassment and infidelity. Cain ran for president as an insurgent populist eyeing the 2012 Republican presidential... Read More

Are Anti-Tax Republicans Softening on the Idea of a Gas Tax Increase?
Economy
Are Anti-Tax Republicans Softening on the Idea of a Gas Tax Increase?

WASHINGTON — Higher state gasoline taxes have won approval in seven Republican-run states since President Donald Trump took office, an unusual step for a party adamantly opposed to more taxes and a sign that raising the federal gasoline tax may... Read More

Home Construction Slips Again in March, Putting Pinch on Sales Inventory
Economy
Home Construction Slips Again in March, Putting Pinch on Sales Inventory
2019-04-19 19:59:54
by Dan McCue

Home construction declined 0.3 percent in March to a seasonally adjusted annual rate of 1.14 million units, the Commerce Department said Friday. Within this overall number, single-family starts fell 0.4 percent to 785,000 units. The multifamily sector, which includes apartment... Read More

Study Says Corporations Should Engage In Issues, But Must Explain Positions
Media
Study Says Corporations Should Engage In Issues, But Must Explain Positions
2019-04-19 13:33:29
by Dan McCue

A study from Global Strategy Group finds most Americans, regardless of their political leaning, believe corporations should weigh in on political and social issues, despite the fact some of their actions might inspire a temporary backlash. The key, explained Julie... Read More

Retail Sales Surge in March, Reaching Fastest Pace Since 2017
Economy
Retail Sales Surge in March, Reaching Fastest Pace Since 2017
2019-04-18 19:56:41
by Dan McCue

Americans went on a buying binge in March, and their spending on cars, furniture and clothing resulted in the strongest increase in sales since September 2017, the Commerce Department said Thursday morning. Overall, sales increased by a seasonally adjusted 1.6... Read More

US Trade Deficit Narrows to Eight-Month Low in February
Economy
US Trade Deficit Narrows to Eight-Month Low in February
2019-04-17 21:08:57
by Dan McCue

The U.S. trade deficit dropped 3.4 percent to $49.4 billion in February, driven by a sharp decline in imports from China and a surge in exports of commercial aircraft, the Commerce Department said Wednesday. The combined $2.2 billion in sales... Read More

Non-Profit's 10-K For the Federal Government Paints Bracing Picture
Federal Budget
Non-Profit's 10-K For the Federal Government Paints Bracing Picture
2019-04-17 21:05:51
by Dan McCue

Think about it. Every public corporation in America is required to make frequent filings to the U.S. Securities and Exchange Commission. These reports provide a comprehensive summary of the company's performance, the risks it foresees encountering in the near and... Read More

What's In a Name? The Supreme Court Will Decide in ‘FUCT’ Trademark Dispute
Supreme Court
What's In a Name? The Supreme Court Will Decide in ‘FUCT’ Trademark Dispute
2019-04-16 21:12:28
by Dan McCue

Perhaps it should have been docketed as the case that dare not speak its name. At least that's how it seemed Monday when the U.S. Supreme Court convened to hear arguments on whether the First Amendment's protection of freedom of... Read More

Applications for Jobless Benefits Drop to a 49-year Low, Inflation Remains Tame
Economy
Applications for Jobless Benefits Drop to a 49-year Low, Inflation Remains Tame
2019-04-11 20:43:28
by Dan McCue

The number of people seeking unemployment benefits in the United States fell last week to its lowest level since December 1969, the Labor Department said Thursday. The last time unemployment benefits claims were this low, Jay-Z was a newborn in... Read More

Blue States Fear Exodus of Rich Taxpayers, But Study Finds No Sign — Yet
Economy
Blue States Fear Exodus of Rich Taxpayers, But Study Finds No Sign — Yet

The new federal tax law’s cap on deducting state and local income taxes has caused much hand-wringing in high-tax states like California that rely heavily on their richest taxpayers. But a study this week found no sign — yet —... Read More

Congress Passes Colorado River Drought Contingency Plan
Environment
Congress Passes Colorado River Drought Contingency Plan
2019-04-11 12:16:33
by Dan McCue

Bipartisan legislation enacting a long sought after drought plan for seven states in the Colorado River basin has been sent to the White House for President Donald Trump's signature. Senator Martha McSally, R-Ariz., and Representative Raul Grijalva, D-Ariz., fast-tracked passage... Read More

Federal Deficit Projected to Exceed $1 Trillion By Late September
Economy
Federal Deficit Projected to Exceed $1 Trillion By Late September
2019-04-10 21:15:23
by Dan McCue

The federal budget deficit for the fiscal year to date is $691 billion and will exceed $1 trillion by the time the current budget year ends in September, the Treasury Department said Wednesday. In its monthly report on the government's... Read More

Some Congressmen Want to Halt Appalachian Mountaintop Coal Mining
Health
Some Congressmen Want to Halt Appalachian Mountaintop Coal Mining
2019-04-10 13:01:22
by Tom Ramstack

WASHINGTON - Residents of Appalachian states warned about severe health and environmental consequences from renewed mountaintop coal mining during a congressional hearing Tuesday. Lawmakers called the hearing to address concerns raised by Trump administration policies to loosen environmental restrictions on... Read More

McAdams Proposes Balanced Budget Amendment, Blue Dog Coalition Endorses
Federal Budget
McAdams Proposes Balanced Budget Amendment, Blue Dog Coalition Endorses
2019-04-09 23:41:23
by Dan McCue

The Blue Dog Coalition of fiscally-responsible Democrats, has endorsed a Balanced Budget Amendment authored by Representative Ben McAdams, the co-chair of the organization's task force on fiscal responsibility and government reform. McAdams, a Democrat from Utah, is the first to... Read More

Bipartisan Quartet Reintroduces Bill To Protect State-legal Cannabis Businesses
Economy
Bipartisan Quartet Reintroduces Bill To Protect State-legal Cannabis Businesses
2019-04-08 20:49:45
by Dan McCue

A bipartisan quartet comprised of lawmakers from both the House and Senate have reintroduced a bill intended to protect state-legal cannabis businesses from federal interference. The bill, also known as the Strengthening the Tenth Amendment Through Entrusting States (STATES) Act,... Read More

US Consumer Borrowing Slowed in February, Fed Says
Economy
US Consumer Borrowing Slowed in February, Fed Says
2019-04-05 20:56:28
by Dan McCue

Consumer borrowing rose at a slower pace in February as a surge in the use of credit cards was offset by a slackening in demand for student loans and auto loans, the Federal Reserve said Friday. The central bank said... Read More

Job Market Rebounded in March As Employers Added 196K to Payrolls
Economy
Job Market Rebounded in March As Employers Added 196K to Payrolls
2019-04-05 20:49:52
by Dan McCue

It may not have been March madness, but the job market rebounded strongly last month, solidly trouncing economists' expectations. The Bureau of Labor Statistics reported Friday that nonfarm payrolls grew by 196,000 jobs in March, well above the 165,000 jobs... Read More

Bridgepoint Education Is Now Zovio, Announces Arizona Headquarters
Education
Bridgepoint Education Is Now Zovio, Announces Arizona Headquarters
2019-04-03 00:04:27
by Dan McCue

Bridgepoint Education, Inc. has changed its name to Zovio Inc., advancing the company's strategy and transformation into an education technology services company. In addition to the name change, the company, which partners with higher education institutions and employers to deliver... Read More

As Trump Threatens to Close Border, Experts Warn of Billions in Economic Damage
Economy
As Trump Threatens to Close Border, Experts Warn of Billions in Economic Damage

WASHINGTON — When the Trump administration abruptly shuttered the San Ysidro border crossing for five hours on the Sunday after Thanksgiving following a skirmish with a group of migrants, holiday traffic snarled for hours south of San Diego. Businesses on... Read More

New-Home Sales Surged in February to 11-Month High, Consumer Spending Lags
Economy
New-Home Sales Surged in February to 11-Month High, Consumer Spending Lags
2019-03-29 23:37:27
by Dan McCue

Sales of newly built single-family homes surged in February to a seasonally adjusted annual rate of 667,000, the Commerce Department reported Friday. That 4.9 percent increase is the highest level this category of home sales has reached since March 2018.... Read More

737 Crashes Revamp Oversight, FAA Tells Congress
Transportation
737 Crashes Revamp Oversight, FAA Tells Congress
2019-03-28 18:04:30
by Dan McCue

Responding to widespread criticism of the FAA in the wake of two deadly crashes of Boeing's 737 Max outside the U.S., the inspector general of the Department of Transportation told a Senate panel on Wednesday that the agency plans to... Read More

Commerce, Not Safety Long at Forefront of Aviation Industry Oversight
Transportation
Commerce, Not Safety Long at Forefront of Aviation Industry Oversight
2019-03-28 17:50:59
by Dan McCue

The issues raised Wednesday during a meeting of the Senate Commerce Subcommittee on Aviation and Space went to the very heart of a conflict that has plagued aviation and the entities created to regulate it since the days of Charles... Read More

Trump Urged to Drop Tariff Threat on Imported Autos and Auto Parts
Economy
Trump Urged to Drop Tariff Threat on Imported Autos and Auto Parts
2019-03-27 23:19:34
by Dan McCue

Nine members of the New Democrat Coalition, led by vice chairs Representatives Terri Sewell, D-Ala., and Suzan DelBene, D-Wash., sent a letter to President Donald Trump Wednesday, urging him to abandon his threat to impose sweeping new tariffs on auto... Read More

Single-Family Home Construction Slowed More Than Expected in February
Economy
Single-Family Home Construction Slowed More Than Expected in February
2019-03-27 00:06:52
by Dan McCue

Construction of new single-family homes dropped more than expected in February, surpassing an 18-month low, the Commerce Department said Tuesday. Last month, so-called "housing starts" slumped 8.7 percent to a seasonally adjusted rate of 1.16 million units -- down from... Read More

United States Posted Largest-Ever Monthly Budget Deficit in February
Economy
United States Posted Largest-Ever Monthly Budget Deficit in February
2019-03-22 21:31:58
by Dan McCue

The federal government posted its biggest monthly budget deficit ever in February as a sharp decline in corporate revenue coincided with increased spending, the Treasury Department announced Friday. The budget gap widened to $234 billion in February, compared with a... Read More

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