Obama tries to reverse falling Democratic fortunes

Obama tries to reverse falling Democratic fortunes

President Barack Obama will travel to the Midwestern state of Wisconsin Monday as part of a broad effort to stem ebbing political support over the slowing economic recovery. The president will deliver remarks on the economy at the Milwaukee Laborfest, a labor union gathering, one of many held around the country as America celebrates Labor […]

High unemployment could last a decade

High unemployment could last a decade

The American economy could experience painfully slow growth and stubbornly high unemployment for a decade or longer as a result of the 2007 collapse of the housing market and the economic turmoil that followed, according to an authority on the history of financial crises. That finding, contained in a new paper by Carmen M. Reinhart, […]

Feds will appeal stem-cell ruling

Feds will appeal stem-cell ruling

The Justice Department said it will appeal a judge’s decision to block federal funding for stemcell research, risking an election year fight over hot-button issues of science and religion. “I can confirm we plan to appeal,” Justice Department spokesperson Tracy Schmaller said Tuesday, adding that the department was “likely to file this week.” She said […]

Last combat brigade pulls out of Iraq

Last combat brigade pulls out of Iraq

The last US combat brigade pulled out of Iraq and crossed into Kuwait almost seven and a half years after the US-led invasion to oust Saddam Hussein, US media reported. Television footage showed an NBC reporter travelling with the 4th Stryker Brigade, 2nd Infantry Division crossing the border into Kuwait to be followed in the […]

Tea party runs into money problems

Tea party runs into money problems

Some leading tea party activists are concerned that their efforts to reshape American politics, starting with the 2010 elections, are being undermined by a shortage of cash that’s partly the result of a deep ambivalence within the movement’s grassroots  over the very idea of fundraising, and partly attributable to an inability to win over the […]

Obama to sign historic financial overhaul bill

Obama to sign historic financial overhaul bill

President Barack Obama claims a moment of history Wednesday as he signs into law the most sweeping finance reform since the 1930s Great Depression. The legislation, which some Republicans have already pledged to repeal if they regain power in Washington, will fundamentally overhaul the US government’s regulation of Wall Street and create a political legacy […]

Kagan nomination clears Senate panel

Kagan nomination clears Senate panel

President Barack Obama‘s second US Supreme Court pick, Elena Kagan, drew one step closer Tuesday to being just the fourth woman to reach the high bench as a key senate committee backed her nomination. The Senate Judiciary Committee tasked with vetting Kagan voted 13-6 to send her nomination to the full Senate, where her all-but-certain […]

Obama goes into attack mode

Obama goes into attack mode

Barack Obama has decided that fiery self defense and withering mockery of Republicans are the best modes of attack as he tries to save Democrats from a drubbing in November’s mid-term elections. The US president road-tested his pitch to grassroots Democrats and wavering independent voters during a two-day western campaign swing last week, flinging partisan […]

Rich more likely to default on mortgages

Rich more likely to default on mortgages

No need for tears, but the well-off are losing their master suites and saying goodbye to their wine cellars. The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle class is striking the upper class in privileged. Whether it is their residence, a second home or […]