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The recession is projected to wipe out annual cost-of-living increases for 50 million Social Security beneficiaries for the next three years, something that hasn't happened since automatic adjustments were adopted in 1975.
China's trade surplus set to a new record in October but export growth weakened, adding to pressure on the economy as Beijing launches a multibillion-dollar stimulus package, according to data reported Tuesday.
China's trade surplus with the United States held steady at $17.5 billion in September, the national customs agency announced Tuesday.
China's trade surplus swelled in July to its highest level in eight months as its trade gaps with the United States and Europe grew despite concern about weaker global demand, according to data reported Monday.
An Iraqi lawmaker close to Prime Minister Nouri al-Maliki defended the government's record on reconstruction spending, saying Thursday that U.S. critics of its multibillion dollar surplus were overlooking Baghdad's progress over the past three years.
Iraq is paying for more of its own reconstruction but is still struggling to spend its multibillion-dollar surplus as it copes with a flood of oil revenue and a cumbersome approval process meant to curb corruption, U.S. officials said Wednesday.
Iraq is paying for more of its own reconstruction but is still struggling to spend its multibillion dollar surplus as it copes with a flood of oil revenue and a cumbersome approval process meant to curb corruption, U.S. officials said Wednesday.
The Iraqi government could end the year with as much as a $79 billion budget surplus as ever-increasing oil revenues pile on top of leftover income the Iraqis still haven't spent on their national rebuilding effort, congressional auditors say.
China's trade surplus fell 20 percent in June as export growth plunged, the government said Thursday, and analysts said Beijing might try to help struggling exporters by slowing the rise of its currency in defiance of pressure from trading partners.
Bob Lingyak's job is a lot easier these days.
China's trade surplus plunged in February as sales of goods to the United States and Europe weakened and snowstorms disrupted the economy, the government reported Monday, but analysts said it appeared to be a onetime drop and exports should rebound.
China's trade surplus with the United States fell in January as demand for Chinese goods weakened amid fears of a U.S. recession, while the surplus with Europe surged by 42 percent, according to data reported Thursday.
China's trade surplus grew by 22.7 percent in January over the same month last year as foreign demand for exports stayed strong despite worries about slowing global growth, according to data reported Friday.
President Bush signed legislation Monday prohibiting the Pentagon from selling leftover F-14 fighter jet parts, a move prompted by security gaps in the military's surplus auction.
China's trade surplus soared nearly 50 percent in 2007 to a record, despite safety worries about Chinese products and a slowdown in export growth late in the year, according to government data released Friday.
China's global trade surplus totaled $26.28 billion in November, the government announced Tuesday as top American officials were in Beijing to discuss trade, currency and Chinese product safety issues.
China's politically sensitive trade surplus soared again in October, hitting an all-time monthly high of $27.05 billion, the country's customs office said Monday.
China's trade surplus jumped to a new all-time monthly high in October, according to official data released Monday, despite government pledges to restrain export growth and adding to pressure for action on trade barriers and currency.
China's trade surplus for the first nine months of this year soared past the full-year record set in 2006 as exports in September rose nearly 23 percent, the government reported Friday, adding to pressure for faster Chinese action on its currency and market barriers.
China's trade surplus soared 67 percent in July from a year ago to its second-highest monthly level on record, according to data reported Friday, amid pressure by U.S. lawmakers to sanction Beijing over trade and currency disputes.
The Pentagon sold more than a thousand aircraft parts that could be used on F-14 fighter jets — a plane flown only by Iran — after announcing it had halted sales of such surplus, government investigators say.
A Democratic senator wants to cut off all Pentagon sales of surplus F-14 parts, saying the military's marketing of the spares "defies common sense" in light of their importance to Iran.
Fighter jet parts and other sensitive U.S. military gear seized from front companies for Iran and brokers for China have been traced in criminal cases to a surprising source: the Pentagon.
China said Wednesday its politically sensitive trade surplus hit a record high in October as exports soared and import growth fell amid government efforts to rein in an investment boom.
Gun Show Sees Shortage of AmmoPeople turned out in droves Saturday for a Gun Show in Chantilly, Virginia, to buy firearms and ammunition, but there wasn't nearly the abundance they expected to find.
How the U.S. Surplus Became a DeficitThere are two basic truths about the enormous deficits that the federal government will run in the coming years.
PM Kevin Rudd: Australian debt to hit A$300 billion (US$231 billion) by 2013After only about 18 months in office pro-coal, pro-war Australian Labor Party (ALP) PM Kevin Rudd has admitted Australian public debt will reach A$300 billion (US$231 billion) by 2013 or about 13.8 per cent of GDP in 2013-14.
Social Security Is Running a Surplus... OopsFor years, opponents of Social Security reform have told us that there is no need to rush into changing the program because, after all, Social Security is running a surplus today. Well, according to a new report by the Congressional Budget Office, not so much.
Beijing isn't Washington's banker. Try its grocerIt's a faddish notion these days. China is the largest holder of U.S. Treasury bonds, the instruments that Washington issues to finance its growing debt and underwrite hundreds of billions in stimulus for its ailing economy.
Bush's new idea: endless deficits. - By Daniel Gross - Slate MagazineClinton used taxes to create a surplus as well as 17,000,000 jobs during his presidency, Bush used taxes to create record deficits, and was never able to create more than 4,000,000 jobs. Under the Clinton tax plan the government made money with and off the rich.
Republicans Had The Chance To Pay Down The Debt - They Chose Not ToInteresting and lengthy blog on the topic of government spending and hypocrisy with regards to how exactly the Republican Party decided to make use of the government surplus they inherited in 2000.
Credit Crunch in Pix: Unsold Cars Around The WorldMillions of new unsold cars are parked in ports and factories. These 10 pix show the depth of car maker's problems better than any chart. Check the predictions at page bottom.
Zakaria: The legacy of America's most unpopular president and his Biggest Mistake.I just want to highlight one point in the article. Something I agree with Fareed Zakaria. The biggest Bush mistakes is the Bush Tax Cuts. Yes, it got bipartisan support. We could of pay off all or most of the national debt and possibly finance the Iraq & Afghanistan war.
Premier of Iraq Is Quietly Firing Fraud Monitors - NYTimes.comCorruption in the Iraqi Reconstruction effort is out of control as U.S. tax dollars continue to flood the country and fill the pockets of corrupt officials and contractors.
Baldwin Park Democrat: Thinking About Voting Republican? Consider This.Some things to consider if you're thinking about voting Republican in November.
The Myth of the Clinton SurplusThe U.S. Treasury website that tracks the U.S. National Debt proves there was never a surplus--this article simply explains why/how people claim otherwise for political reasons.
The Reagan Revolution - Mission AccomplishedHistory will view what is happening to our economy as the end game of the Reagan plan to gut government. The wing-nuts knew, in the late 70's, that they could never directly accomplish their core goals of eliminating "welfare" and "government interference".
It is an election year, and one-third of the senators and the all the members of the House of Representatives are scrambling to keep their jobs.
Dearer food gives EU windfall for poorEurocrats have a surplus of cash because their farmers apparently haven't applied for subsidies. 750 million Euros can buy a lot of seeds, fertalizer and equipment for farming in Africa, and other starving regions in the world.
Fiscal Poison PillIf this isn't enough to encourage my movement to Canada for free healthcare and school then I don't know what will! -- A poison pill, in corporate jargon, is a financial arrangement designed to protect current management by crippling the company if someone else takes over.
U.S. Economy: Home Resales Decline, Inventories Jump Bloomberg reports: Sales of previously owned homes in the U.S. fell in April and the supply of unsold properties reached a record, signaling no let-up in the 27-month housing slump.
Brown Alumni Magazine - The Tax Cut That Neutered CongressTo me, the tax cut was a stalking horse. The Cheney-Bush strategy behind the cut was to set the tone—to preempt the Congress not just on taxes but on every issue.
I think it is time to put an end to the craziness. I think it is time to put out of misery once and for all those caught up in the controversy of Post Workout Nutrition.
Cullen hints at tax cuts next yearGovernment surplus on Labour to make tax cuts
Sudden Surplus Arises as Threat to Ethanol BoomNEVADA, Iowa, Sept. 24 — The ethanol boom of recent years — which spurred a frenzy of distillery construction, record corn prices, rising food prices and hopes of a new future for rural America — may be fading.
Trade Deficit Shows Slight DeclineWASHINGTON (AP) - The U.S. trade deficit declined slightly in July, helped by record exports that offset the biggest foreign oil bill in nearly a year. But even a spate of recalls did not stop the deficit with China from climbing to the second-highest level on record.
China's Trade Surplus Jumps 33 PercentBEIJING (AP) - China's trade surplus jumped nearly 33 percent in August to its second-highest monthly level, according to data released Tuesday, adding to pressure on Beijing to ease currency controls and narrow its yawning trade gap.
Presidential economics: myths, factsThere is a widely held belief that Republicans are better for business than are Democrats. Let's look at the facts.
Pentagon Still Arming the 'Axis of Evil'Right Item, Right Time, Right Place, Right Price, Every Time. Best Value Solutions for America's Warfighters," the Defense Reutilization and Marketing Service says on its Web site, calling itself "the place to obtain original U.S. Government surplus property.
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