September 6, 2010 |
On the eve of the Depression, Andrew Mellon, President Hoover's Treasury secretary, said that rising unemployment would be good for the nation because it would "purge the rottenness out of the system" and force people "to work harder, live a more moral life. " Few would dare utter such words today, but the actions — or inactions — of Washington and Wall Street indicate that respect for work and workers is again approaching that dismal level. American workers and families face the deepest jobs crisis of their lives.
April 1, 2006
JAPAN IS BACK. AFTER 15 YEARS in the doldrums, its economy is showing real signs of life. Consumers are spending, the stock market is up and, of most interest to economists, prices are no longer falling. The era of deflation has come to an end, allowing Japan's central bank to stop begging people to borrow money at no cost. This is good news. A healthy, growing Japan, the world's second-largest economy, benefits the rest of Asia as well as American manufacturers such as Boeing.
May 30, 1998 |
Consumers spent at a healthy clip in April, suggesting robust domestic demand was so far offsetting any economic slowdown from weaker Asian exports, according to a Commerce Department report released Friday. Personal income also advanced last month, but not enough to keep up with spending. Total spending on everything from new cars to food to medical services increased 0.5% to a seasonally adjusted annual rate of $5.72 trillion, after a matching 0.5% rise in March.
July 16, 2010 |
China's attempts to cool off its runaway economy have resulted in slower growth in the second quarter, according to government statistics released Thursday. The nation's gross domestic product grew 10.3% from a year earlier, down from a scorching 11.9% in the first quarter. Although strong expansion earlier in the year helped China recover from the financial crisis, it also introduced greater risks to the economy. Government stimulus spending and loose bank lending have helped fuel a real estate bubble and rising inflation.
October 25, 1999 |
Without anyone explicitly organizing it, the United States has embarked on a vast social experiment to test the favorite theories of left and right for reversing the generation-long rise in out-of-wedlock births. Reducing the number of children born outside of marriage remains one of the country's most pressing social needs.
September 7, 1998 |
The median wage for U.S. workers still trails the peak reached before the last recession and income inequality is growing, even in a positive economic environment of strong job growth, rising productivity and tame inflation, a new study shows. Real, inflation-adjusted earnings, though rising, were 3.1% lower last year than in 1989 for workers paid the median hourly wage, according to a study by the Economic Policy Institute. Through the first six months of this year, the real median wage of $11.
May 13, 2012 |
PITTSBURGH - While most of the nation is still trying to claw its way out of the deep economic crater left by the recession, this onetime steel capital is already out - thanks largely to the relentless growth in healthcare jobs. Partly because of the outsized ambitions of the University of Pittsburgh Medical Center, the healthcare industry has replaced manufacturing as the region's powerhouse. About 1 in 5 private-sector employees in the Pittsburgh area today works at a hospital, a doctor's office or in some other health services business.
June 6, 1997 |
Taxpayers will have to change a time-honored tradition if Congress accepts recommendations made Thursday to push back the federal income tax deadline one to two months past the current April 15 deadline. The proposal was approved in a vote by the National Commission on Restructuring the Internal Revenue Service, which was appointed last year by Congress to find ways to improve the troubled tax agency's operations.
CALIFORNIA | LOCAL
April 14, 1998 |
Every politician favors marriage, family and improvements in the tax code. Many routinely criticize the income tax as biased against marriage and families. Some go much further and claim that we could eliminate these biases by throwing out the current system and starting over with a flat tax or a national retail sales tax. While some of the charges against the income tax are valid, they are exaggerated. But fundamental tax reform will not eliminate the biases and could even make them worse.