The annual U.S. budget deficit is well over a trillion dollars, and in the long term, that's unsustainable. But a closer look at the sources of most of that gap shows that balancing the budget wouldn't be nearly as hard as it might at first appear.
Recognizing that voters are worried about the economy, President Obama is offering an olive branch to his critics with a $50 billion infrastructure plan and a deal to make the R&D tax credit permanent. Conservatives say it's too little too late, but the game is far from over for the Democrats.
There are people around the world rubbing their hands with glee at America's supposed collapse, pundits who say this nation is so bankrupt that it has become irrelevant. But author, venture capitalist and DailyFinance columnist Peter Cohan says don't write America's obituary just yet.
The U.S. housing sector took another hit this month as homebuilder sentiment unexpectedly fell to 13 in August from 14 in July. The measure has been drifting lower since the federal homebuyers tax credit expired this spring.
A Gallup analysis for DailyFinance reveals that a higher percentage of jobless voters usually identified themselves as independent than Democrat or Republican in the last six months. Incumbents, be warned.
The U.S. real estate market recorded another setback in July: The National Association of Home Builders reported that its Housing Market Index fell to 14 from 16 in June, with builder confidence waning and sales dipping after the expiration of the federal home-buyers tax credit.
As lawmakers battle over proposals to extend jobless benefits for many long-term out-of-work Americans, economists on both sides weigh in on whether those payments are an effective way to help get the economy back on track.
