spending

Obama's 2012 Budget: Why Federal Spending Needs to Be Raised, Not Cut

President Obama's proposed spending plan seeks to slash $1.1 trillion from the deficit over the next decade. Republican House Speaker John Boehner says that's too little. In fact, the cuts go too far in the wrong direction: With the economy still recovering, Obama should raise federal spending.

What's Really Ailing Employment: Lack of Demand

Many people blame America's high unemployment rate on a mismatch between workers' skills and the fields with open jobs. But it seems clear that jobs are scarce across all sectors. That means effective policies are needed to stimulate demand and rebuild economic output.

Four Tech Stocks to Bet On as Business Reboots IT Spending

With trillions of dollars sitting in corporate coffers, the spigots of capital flowing to technology are finally opening up again. Gartner Research projects 5.1% growth in information technology spending in 2011. So which companies' stocks should you buy to take advantage?

A Heartwarming Valentine's Day Sales Forecast

Valentine's Day sales should thrill the hearts of retailers this year: Spending for the day is forecast to top $18.6 billion, a 5.8% jump in spending over 2010. That amounts to about $125 per person taking part in the holiday for lovers.

The Missing Keys for America's Economic Engine

With U.S. consumers continuing their saving spree, repaying debts and remaining hesitant to spend like they did during the boom times of earlier years, there is little to indicate that there will be a meaningful economic recovery in the U.S anytime soon.

Consumers Take Break from Shopping in October

U.S. consumers put shopping on hold in October following the back-to-school season. MasterCard Advisors%u2019 SpendingPulse, a data service, showed year-on-year declines in spending on items including flat-panel TVs and major appliances, The Associated Press reported.

Greenspan Says U.S. Deficit Is 'Scary'

The U.S. fiscal deficit is "scary" and the government should slash entitlement spending, former Federal Reserve Chairman Alan Greenspan said. "We%u2019re involved in a dangerous game," Greenspan said, according to Bloomberg News.

Costco Earnings Rise on Overseas Strength

Costco Wholesale Corp (COST) reported earnings of 97 cents per diluted share for the quarter ended Aug. 29, compared with 85 cents per diluted share a year earlier. Net sales rose to $23.59 billion, from $21.89 billion a year earlier, the company said in a statement. Comparable sales rose 6% from a year earlier, driven by strong international growth.

Increased Government Spending Fuelled UK Economic Growth

A jump in government spending helped fuel the UK%u2019s economic growth in the second quarter, the country%u2019s Office for National Statistics said. Government spending grew 1% in the quarter, the fastest rate in over a year, Bloomberg News reported. This contributed to economic growth of 1.2% for the quarter.

IRS Will Stop Mailing Out Tax Return Forms, Instructions

The IRS will stop mailing out paper forms and instructions for annual income tax returns as more people file their taxes online. About 11.5 million people who filed paper tax returns in 2009 got the tax information in the mail, The Washington Post reported. The mailing included 44 pages of instruction last year.

House Republicans Unveil Election Manifesto

Republicans in the House of Representatives promised to end "job-killing tax hikes" and repeal the health reform law as part of their campaign manifesto for the November election. In their "Pledge to America," House Republicans also say they will ban federal funding for abortion, cancel any unspent stimulus funding, and try suspected terrorists in military courts, The New York Daily News said.

UK Food Prices Rise the Most in a Year

British food prices rose at the fastest rate in a year in August thanks to higher prices for commodities. Food prices increased at an annual rate of 3.8% in August, compared with 2.5% in the previous month, Bloomberg News reported, citing a statement by the British Retail Consortium. That%u2019s the fastest increase since July 2009.

Lawmakers' Use of Travel Stipends Under Investigation

Congress is questioning six lawmakers over possible misuse of taxpayer dollars meant to pay for overseas travel, The Wall Street Journal reported. The probe is looking into spending by lawmakers including Solomon Ortiz (D., Texas) and Joe Wilson (R., S.C.), The Wall Street Journal reported without naming its sources.

Who to tip and how much

Most people know how much to tip the wait staff at a restaurant but unless you find yourself gratuitously leaving gratuities everywhere you go you...

Boehner: Time to Fire Treasury Chief Geithner

House Minority Leader John Boehner will call on President Barack Obama to fire Treasury Secretary Timothy Geithner and adviser Lawrence Summers in a speech today. In a speech in Ohio due at 8am today, Boehner will attack Geithner and Summers as promoting "19 months of government-as-community organizer," Politico reported.

3M May Spend $2 Billion on Acquisitions This Year

Office supply maker 3M Co (MMM) may double its planned spending on acquisitions to $2 billion this year as it aims to boost its oversea operations. "We told Wall Street that we would spend probably a billion dollars or north of that," CEO George Buckley told Reuters. "It could be double that number by the time the year is out."

Fidelity: Withdrawals From Retirement Accounts Hit Record High

The number of workers making hardship withdrawals from their retirement accounts reached a record high in the second quarter as the sagging economy drains household wealth. High unemployment, fewer working hours and reduced amounts of overtime have hit the take-home pay of many workers, The Associated Press reported.

Consumer Sentiment Crept Higher in July

Even with the slight rise, there's little to celebrate because the reading remained at a near-six-month low. Still, like the second quarter's tepid 2.4% growth rate, July%u2019s sentiment measure could have been worse.

10 things kids just don't need

If there's something on which most parents can agree, it's that there is an over-abundance of goods and services available today for infants and kids...