Economy

2:30pm

Sat January 28, 2012
Business

GM CEO: No Apologies For Accepting U.S. Bailout

Just a few years ago, America's auto industry was on the verge of collapse. When President Obama took office, he had to decide whether to bail out General Motors or let it die. He chose to send them a lifeline, to the tune of $50 billion. In this week's State of the Union speech, President Obama said that decision paid off.

"Today, General Motors is back on top as the world's No. 1 automaker," Obama said.

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6:34am

Fri January 27, 2012
The Two-Way

Signaling Modest Growth, U.S. GDP Grew At 2.8 Percent In Fourth Quarter

The United States economy continued to expand modestly toward the end of 2011. The Commerce Department says it grew at an annual rate of 2.8 percent in the fourth quarter and 1.7 in all of 2011.

This means that the economy has expanded for the last two years, after a 3.5 percent decline in 2009. The economy did slow down in 2011. It grew 3 percent in 2010.

The Commerce Department explains:

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9:39am

Thu January 26, 2012
Author Interviews

Was The Stimulus Package 'Money Well Spent?'

Originally published on Thu January 26, 2012 11:39 am

iStockphoto.com

No issue will be more important in the upcoming presidential election than President Obama's handling of the nation's economy. Critical to that debate is an assessment of the Obama administration's economic stimulus program. Republicans claim it was a costly failure. Supporters maintain it saved the U.S. from a depression.

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8:37am

Thu January 26, 2012
The Two-Way

Capping Worst Year On Record, Sales Of New Homes Drop In December

2011 was the worst year on record for sales of new homes. The dismal year was capped by a drop in home sales in December.

The AP reports:

"The Commerce Department said Thursday new-home sales fell last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.

"About 302,000 homes were sold last year. That's less than the 323,000 sold in 2010, making 2011 the worst year on records dating back to 1963.

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6:45am

Thu January 26, 2012
The Two-Way

Unemployment Claims Up Slightly; Business Spending Increased

Over the past week, 21,000 more Americans claimed unemployment benefits, the Labor Department reports. Like most economic news, that's the bad news. The good news, reports the AP, is the that the four-week average is down 2,500, which "still signals a healthier job market."

The Commerce Department also has some good news on the economy: Orders for durable goods rose 3 percent, last month.

The AP reports that this marks a gain for the second straight month. The AP adds:

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