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US Economy - Page 28

Economy grew at anemic 0.2% in first quarter, GDP data shows

U.S. Figures indicate gross domestic product grew at just a 0.2% annual rate vs. The 1% rate economists predicted. Stocks futures have declined only slightly on the news. Ref. USAToday

Economy US

The economy shrank 0.7% in the first quarter as GDP revised downward

The government revised gross domestic product for the first quarter down from its original estimate of 0.2% growth. Ref. USAToday

US Economy History & Civil Business Politics

The U.S. Economy added 280,000 jobs in May, the best month of 2015.

Unemployment ticked slightly higher to 5.5% as more people entered the job market.

Overall, the report marks good news at a time of uncertainty. In the early part of 2015, the economy had contracted and job growth suffered, due largely to harsh weather, a port strike and a strong dollar. But recent months have brought more positive signs. Ref. CNN

Page 28 Economy US

Congress averts government shutdown

Lawmakers voted Wednesday to fund the government through Dec. 11, averting a shutdown just hours before a midnight deadline. Both the House and Senate voted to pass the temporary funding bill. It does not include a controversial provision to defund Planned Parenthood, which some conservatives had demanded. Ref. USAToday

Economy US

Most Americans have less than $1,000 in savings, 1 in 5 have none - survey:

"They likely don't have cash reserves to cover an emergency and will have to rely on credit, friends and family, or even their retirement accounts to cover unexpected expenses." Ref. Source 4q

US Economy

Bipartisan congressional leaders and the White House struck a major fiscal deal in principle that would raise the debt ceiling and lift budget caps on both defense and domestic programs, said congressional sources familiar with the deal.

The agreement could be voted on as early as Wednesday, the same day House Republicans are expected to nominate Rep. Paul Ryan to replace retiring Rep. John Boehner as House speaker.

The final details are being ironed out. The deal would avoid a potential debt default on November 3 and would reduce the chances of a government shutdown in December. Congress would still need to pass an omnibus spending bill with specific funding levels for various federal agencies to avoid a shutdown. Ref. CNN

US Economy - Page 28

The U.S. House of Representatives approved a two-year, bipartisan budget deal that would remove the threat of default next week and lessen the chances of another government shutdown in December.

The vote, which came on John Boehner's last full day as speaker, was 266 to 167. All of the "No" Votes were Republican.

The bill moves to the Senate, where it is expected to pass before the nation's borrowing authority expires Tuesday, despite a filibuster threat from Sen. Rand Paul. Ref. CNN

US Economy Politics Business Civil & History - Page 28

The disappearing middle class is threatening American mega brands:

The share of households in the middle tier of income earners has fallen to 43% from 55% since the 1970s, according to The New York Times. Ref. Source 1a?