Economy - The New American

Economy Shrinks Q2, Recession Worse Than Thought

Though data shows that the U.S. economy only shrank at a one-percent annual rate during the second quarter of the 2009 calendar year,...

Thomas R. Eddlem July 31, 2009

Another Minimum Wage Hike: But Will It Help?

Selwyn Duke July 25, 2009

In another example of turning lemonade into lemons in economically troubled times, the federal minimum wage increased yesterday from $6.55 an hour to...

CIT Patches Together Private Bailout After TARP Bailout

Thomas R. Eddlem July 21, 2009

Capital lending firm-turned-bank holding company CIT has patched together another $3 billion private loan to avoid bankruptcy and try to complete the transition...

Bernanke Promises “Exit Strategy” From Inflation

Thomas R. Eddlem July 21, 2009

Federal Reserve Chairman Ben Bernanke is on a public relations offensive to persuade Americans that he has the economy well in hand, and...

Media Raising Concerns Over Goldman Sachs’ Gov’t Influence

Thomas R. Eddlem July 21, 2009

Even the mass media is starting to take notice of the longtime cozy relationship that both the U.S. Treasury Department and the Federal...

Obama Weighing Homeowner Bailout Proposal

Thomas R. Eddlem July 17, 2009

“U.S. officials are weighing a plan to let borrowers who have fallen behind on mortgage payments avoid eviction by renting their home instead,”...

Bailing Out Minority Broadcasters

Selwyn Duke July 16, 2009

If you understand the relative superiority of the free market, none of our government's recent business bailouts will find favor with you. Yet,...

Obama’s Car Czar Linked to Bribery Scandal

Thomas R. Eddlem July 15, 2009

President Obama’s Auto Task Force Chairman Steven Rattner resigned suddenly earlier this week after reports that the New York Attorney General’s office was...

BusinessWeek Could Sell for $1

Alex Newman July 15, 2009

With plunging advertising revenue across the industry, McGraw-Hill is reportedly putting BusinessWeek up for sale. The company said only that it is exploring...