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US Economy - Page 20

US budget to cut deficit, target millionaires

US President Barack Obama has unveiled a US$3.77 trillion budget that combines controversial cuts to social safety net programmes with tax increases on the wealthy. Ref. Source 7

Economy US

The U.S. Economy accelerated at the beginning of the year, but don't get too excited. Economists aren't optimistic the trend will continue in the months ahead.

Gross domestic product -- the broadest measure of economic output -- rose at a 2.5% annual pace in the first three months of the year, driven largely by a pickup in consumer spending on services, the Commerce Department said.

Consumer spending, which alone accounts for roughly two-thirds of GDP, rose at a 3.2% annual pace. Ref. CNN

US Economy History & Civil Business Politics

U.S. Consumer spending slows in March:

Consumers were more cautious spenders in March and income growth also softened, reinforcing a bevy of reports that indicate the U.S. Economy slowed as the spring began. Ref. Source 6

Page 20 Economy US

U.S. Factory Orders Fall More Than Expected In March:

With orders for durable goods showing a substantial pullback, the Commerce Department released a report on Friday showing that new orders for manufactured goods fell by more than expected in the month of March Ref. Source 1

Economy US

U.S. Business Inventories Come In Flat For Second Straight Month:

With a drop in retail inventories offsetting an increase in wholesale inventories, the Commerce Department released a report on Monday showing that U.S. Business inventories unexpectedly came in unchanged in the month of March. Ref. Source 3

US Economy

I believe that while the economy is looking to be stagnant for now that we will recover and the economy will get better. I am hoping that things start to look up before the end of this year.

US Economy - Page 20

Treasury Prepares to Take Measures to Avoid Default:

The Obama administration notified Congress on Friday that it was taking steps to free up about $260 billion so that it can keep paying the nation's bills when a temporary suspension in the debt ceiling lapses this weekend. Ref. Source 2

US Economy Politics Business Civil & History - Page 20

The U.S. Economy is on stronger footing than a year ago, but Ben Bernanke wants to be careful not to squelch the recovery now.

"A premature tightening of monetary policy could lead interest rates to rise temporarily, but would also carry a substantial risk of slowing or ending the economic recovery and causing inflation to fall further," The Federal Reserve chairman told the U.S. Congressional Joint Economic Committee today.

The Federal Reserve has kept its key short-term interest rate near zero since December 2008, and expects it to stay there for a "Considerable time" As the recovery strengthens, Bernanke said. Ref. CNN