Student Loan Interest Rate Set to Double: How You Can Prepare
Unless the government acts soon, rates on subsidized student loans will double as of July 1, putting further pressure on America's next wave of college students.
Fiscal cliff
Campaign Promises Revisited: Obama's Mixed Economic Record
A special report looks back at President Obama's campaign promises for jobs and the economy, and what he has done -- or not done -- to keep them.
What You Can Learn From an Online Poverty Game
Playing Spent forces you to make the wrenching decisions that America's poor, especially the elderly, face on a daily basis
Why the Budget Battle Stalemate? Politicians Are Too Human
Professionals who special in conflict resolution recognize in Washington's bitter budget standoff a hint of human nature as they know it, but with the crazy pumped up to absurd levels.
Walmart Blames Taxes for February Sales 'Disaster'
Walmart released its fourth-quarter results Thursday morning, reporting a mixed bag on earnings and sales. But the big story of the day was the retail giant's February sales "disaster," which it blamed largely on tax issues.
Obama Presses Congressional Republicans to Avert Sequester
President Barack Obama is urging congressional Republicans to accept more tax revenue in order to avert the sequester -- an $85 billion, across-the-board budget cut due to take effect March 1 that could derail America's still stuttering economic recovery.
Tax Law Changes You Need to Know About for 2013
Just because the IRS is left scrambling to catch up with the fiscal cliff tax regulations shouldn't stop you from preparing your income tax return. Here are some important changes to the tax code to help you get started.
Fiscal Cliff Deal Sets the Stage for Market Turmoil
When the fiscal cliff deal finally passed, the Dow Jones industrial average surged. But that doesn't mean the volatility is over. In fact, there could be more turmoil in the market soon because decisions on cutting the federal budget deficit have been put off until March, when the government will reach its borrowing limit.
Debt Crisis Looms as Congress Digs in Its Heels
Legislators show no signs they're heading toward compromise in resolving the nation's next financial crisis, with Democrats talking about further taxes hikes on the rich, and Republicans saying a crippling default on U.S. debt is possible unless they get significant cuts in government spending.
Fiscal Cliff Averted: 6 Things You Can Stop Worrying About
After months of lead-up, America finally went over the fiscal cliff -- for about 34 hours, before a bipartisan compromise was reached. So, with an eye toward the bright side, here's are six things that you no longer need to worry about now that the fiscal cliff has been averted.
8 Things That Will Cost More in 2013
Happy New Year! Your life just got more expensive. While congress frets over the looming fiscal cliff and taxpayers brace themselves for higher tax rates, consumers should prepare for certain goods to become pricier in 2013.
What History Predicts for Stocks in 2013
The race doesn't always go to the swift, goes the old saying. But that's the way to bet it, replies the savvy gambler. So it is with the old saying about the stock market. Past performance is no guarantee of future returns. But it still makes sense to look at historical data - because that's the way to bet it.
Wall Street Year in Review: A Surprisingly Good Vintage as Market Logs Gains
If you'd told investors what was going to happen in 2012 and asked how the stock market would perform, few would have predicted a good year. But that's just what they got.
Fiscal Cliff Averted: Details of the Deal
An agreement was reached late Monday between the White House and Senate Minority Leader Mitch McConnell aimed at averting the fiscal cliff. Early Tuesday morning, the Senate passed the bill, and late Tuesday night, so did the House. Let's break down the key points of the deal.
New Year's Reprieve: Senate Passes Fiscal Cliff Deal in Post-Midnight Vote
The Senate passed legislation early New Year's Day to neutralize a fiscal cliff combination of tax increases and spending cuts that kicked in at midnight. The pre-dawn 89-to-8 vote set the stage for a final showdown in the House, where a vote was expected later Tuesday or perhaps Wednesday.
Stocks Shoot Up as Investors Bet on 'Cliff' Deal
The stock market shot higher on Monday even as the "fiscal cliff" neared. By the time trading ended, Republicans and Democrats still hadn't reached a budget compromise %u2014- but investors were betting that they would.
Fiscal Cliff Deal Likely to Tell a Tale of Trimmed Ambitions
Whether negotiated in a rush before the new year or left for early January, the fiscal deal President Barack Obama and Congress cobble together will be far smaller than what they initially envisioned as an alternative to purposefully distasteful tax increases and spending cuts.
Stocks Tumble as Fiscal Cliff Deadline Nears
Stocks fell for a fifth day on concern that Washington lawmakers will fail to reach a budget deal before a self-imposed year-end deadline. The five-day losing streak for the Dow Jones industrial average was the longest since July.
Last-Ditch Efforts to Avoid the Fiscal Cliff Under Way
The end game at hand, the White House and Senate leaders made a final stab at compromise Friday night to prevent middle-class tax increases from taking effect at the turn of the new year and possibly block sweeping spending cuts as well.
Top 10 Business Stories of 2012
This would be the year when the global economy finally regained its vigor. At least that's what many had hoped. It didn't happen. So what were the top ten business stories of 2012?
Stocks Whipsawed by 'Fiscal Cliff' Talks, End Flat
The stock market erased most of an early loss in late trading after Republicans said they would reconvene the House of Representatives Sunday in hopes of piecing together a last-minute budget deal. Still the Dow closed down 18 points for its fourth straight loss.
Stocks Turn Lower After Consumer Confidence Sinks
Stocks fell Thursday, putting the market on track for its fourth straight loss, after consumer confidence fell sharply in December as Americans worried about higher taxes and government spending cuts.
Tax Bracket Calculator Brings Perspective to the Fiscal Cliff
With Pres. Barack Obama returning from his holiday in Hawaii to try to resolve the fiscal cliff conflict, we thought it was worth sharing this interactive chart created by Ritchie King at Quartz. You can type in your taxable income and see your tax rate in any year, going all the way back to 1913.
U.S. Jobless Aid Applications Fall to 5-Year Low
The average number of people seeking U.S. unemployment benefits over the past month fell to the lowest level since March 2008, a sign that the job market is healing. The Labor Department said Thursday that weekly applications dropped 12,000 to a seasonally adjusted 350,000 in the week ended Dec. 22. The four-week average, a less volatile measure, fell to a nearly five-year low of 356,750.
Starbucks Cups to Come with a Political Message
The world's biggest coffee chain is asking employees at cafes in the Washington, D.C., area to scribble the words "Come Together" on cups for drink orders on Thursday and Friday. CEO Howard Schultz says it's intended as a message to lawmakers about the ongoing "fiscal cliff" negotiations.
U.S. Economy Could Handle Short Fall Over 'Cliff'
Even if New Year's passes with no deficit reduction deal, businesses and consumers would not likely panic as long as some agreement seems imminent. The $671 billion in tax increases and spending cuts could be retroactively repealed, and the impact of the tax increases would be felt only gradually.
Holiday Retail Sales Growth Weakest Since 2008
U.S. holiday retail sales this year grew at the weakest pace since 2008, when the nation was in a deep recession. In 2012, the shopping season was disrupted by bad weather and consumers' rising uncertainty about the economy.
5 Things to Watch When the Market Reopens
The financial markets are closed for the Christmas holiday, but when trading resumes on Wednesday, here's what's likely to help shape the rest of the week on Wall Street.