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NEWS
October 22, 2003 | By Peter A. Brown
I have a close friend, who along with many Democratic dreamers, predicts the economy will sink President Bush's reelection. I disagree, so I offered to make up the difference if his stock account doesn't rise 3 percent in the next six months (triple what banks and bonds are paying), but I would get any return over that amount. He declined. He may be misguided, but he's no idiot. He understands that the economy may not be great, but it is OK and surely getting better - which bodes well for Bush's political future.
NEWS
August 7, 2001
What surplus?
NEWS
March 15, 2008
WE OWE more on our homes than we have equity. We're paying ridiculously high gas prices, along with other higher prices because of these gas prices, yet we are not bringing in any more money. Five states have suspended educational loans, because the money simply isn't there. Health programs are being cut, along with programs in the arts, and others. Forty-three cents of every tax dollar is being spent on the military, with only 20 cents to health care and 12 in response to poverty.
BUSINESS
October 5, 2011 | By Martin Crutsinger, Associated Press
WASHINGTON - Federal Reserve Chairman Ben S. Bernanke said Tuesday that the nation's economy "is close to faltering" and that the central bank was prepared to take further steps to support the recovery. In a day of volatile swings, stocks came off their morning lows after Bernanke implied that the Fed could adopt additional stimulus measures in the coming months. In the early afternoon, share prices trended down again on continuing fears about the economy and Europe's debt problems - but they surged into positive territory in the last 45 minutes of trading on reports that European officials were working on a joint effort to prop up the region's struggling banks.
BUSINESS
June 8, 2011 | By Martin Crutsinger, Associated Press
President Obama and Federal Reserve Chairman Ben S. Bernanke on Tuesday each offered hope for the nation's economy even as they acknowledged its struggles. While Bernanke called the recovery from the recession - especially for the job market - "frustratingly slow," he predicted that the economy would expand later this year. He blamed the recent weakness on high gasoline prices and the effect of the March 11 earthquake in Japan, which has slowed production of cars and other products using parts made in Japan.
NEWS
January 12, 2001 | by Bob Warner, Daily News Staff Writer
While the national economy is slowing down, it still seems to be growing, not shrinking. And growth is likely to pick up in the second half of 2001, according to the president of the Federal Reserve Bank of Philadelphia. "Clearly, the economy has slowed down," Dr. Anthony M. Santomero told reporters yesterday. But, he added, "the data I have seen does not suggest we are in a slowdown with a zero growth rate. . .We're seeing softening the first half of the year. I think we'll see growth in the second half.
BUSINESS
March 25, 1992 | Daily News Staff Report
The Philadelphia economy picked up steam in the fourth quarter last year, according to a study by Grant Thornton, an accounting and management consulting firm. The quarterly Grant Thornton Index of economic indicators rose 1.40 points to 109.5 in the fourth quarter, ended Dec. 31, from 108.1 in the third quarter, ended Sept. 30. The firm said it is the first time in two years that the index for Philadelphia has increased. Growth in non-farm payrolls, construction permits, and factory hours all contributed to the increase, the firm said.
NEWS
January 29, 1988 | By REGINALD STUART, Daily News Staff Writer
Rep. William H. Gray III, D-Pa., chairman of the House Budget Committee, said yesterday that Democrats have a chance to win the White House in November, particularly if the economy goes sour before then. "If the economy is doing very well and foreign policy is doing well, the Republicans will have a leg up," said Gray, who plans to announce his endorsement of a candidate next month. He warned that the economy's "fundamentals," such as the trade deficit, the sagging value of the dollar and a downward trend in consumer spending," are so out of sync" that the chances of a recession are "50-50.
NEWS
September 7, 2008
The hoopla of national political conventions has subsided, and Congress returns to work tomorrow with a weak economy demanding lawmakers' attention. With unemployment and inflation rising, the danger is that Congress instead will get sidetracked by election-year political stunts. Former Republican House Speaker Newt Gingrich, who led a counterproductive government shutdown in the mid-1990s, is at it again. Backed by a well-funded advocacy group that he founded, Gingrich is agitating for another shutdown of the federal government, this time over oil drilling - the subject of his new book.
BUSINESS
July 17, 2002 | By Ken Moritsugu INQUIRER WASHINGTON BUREAU
Federal Reserve Chairman Alan Greenspan expressed confidence yesterday that the U.S. economy would recover from its slump, but he warned that it still faced "considerable uncertainties," including the fallout from corporate accounting scandals. He applauded efforts to change the corporate accounting system, particularly proposals to stiffen punishment for executives convicted of financial fraud. The House of Representatives passed a bill yesterday, 391-28, that would increase jail terms for financial fraud, one day after the Senate passed a broad accounting reform bill that included similar measures.
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BUSINESS
August 7, 2016 | By Joel Naroff
The Democratic National Convention has come and gone. Regardless of your view of the proceedings, there is little doubt the delegates spent a lot of money in the region. But this large a meeting taxed the facilities and resources of the economy. Meeting those demands required calling on the potential supply of goods and services that exists in the new "flex economy. " Unfortunately, resolving the business concerns of competition, regulation, safety, and taxation of these new types of firms has yet to be addressed.
NEWS
August 5, 2016 | By Michael Matza and Vibha Kannan, STAFF WRITERS
Urging Congress to overhaul the immigration system or risk losing in global workforce competition, Philadelphia business and community leaders rallied Wednesday on Independence Mall, releasing fresh state-by-state data on the economic impact of foreign-born newcomers and launching a campaign they call Reason for Reform. Rob Wonderling, president and CEO of the Greater Philadelphia Chamber of Commerce, called on elected officials to "enact policies and reforms that will support immigration as critical [to]
NEWS
August 4, 2016 | By Jonathan Tamari, Washington Bureau
WASHINGTON - With less than 100 days to go, Democrat Katie McGinty is trying to change the terms of Pennsylvania's critical U.S. Senate race. At a diner stop Tuesday in Bucks County, she launched a monthlong focus on economic issues - hoping to reset a contest Sen. Pat Toomey (R., Pa.) has steered toward national security and public safety. "The biggest issue facing our country is a lack of good-paying jobs and a middle class that sees itself falling further and further behind," McGinty said in an interview.
BUSINESS
August 1, 2016 | By Mark Zandi
Donald Trump and Hillary Clinton disagree about most everything. On economic policy, their differences couldn't be more stark. Especially important, at least when it comes to the key question of how to jump-start stronger economic growth, are their views on foreign immigration. Trump is clearly no fan of immigration. Curtailing the entry of migrants is one of his recurring campaign themes. He wants to build a wall between the United States and Mexico, institute a temporary ban on Muslims coming to the country, and, perhaps most important for the economy, he wants the more than 11 million undocumented immigrants in the U.S. to leave.
BUSINESS
July 29, 2016 | By Jonathan Takiff, Staff Writer
Tech innovation, higher productivity, and zealous competitiveness in the global arena are the keys to improving the U.S. economy. They are also the hot-button money issues that should be pushed in the 2016 presidential campaign, rather than the time-honored arguments for lowering taxes, shrinking government, and reducing regulations. So argues the nonpartisan Information Technology and Information Foundation whose leadership is split evenly between Republican and Democratic leaders. And at a meeting Wednesday in the Kimmel Center, IT&IF president Robert Atkinson found the agenda endorsed by several members of the U.S. House of Representatives, a major drug industry leader, a Harvard Business School professor, and well-placed executives from Microsoft, Amazon, and Facebook, all in town for the Democratic National Convention.
NEWS
July 28, 2016 | By Thomas Fitzgerald, POLITICS WRITER
The White House photograph has become an icon: President Obama bending low in front of his desk in the Oval Office so a 5-year-old African American boy could touch his hair. "I want to know if my hair is just like yours," Jacob Philadelphia asked in 2009, as he and his family gathered for a picture with the president. "Why don't you touch it and see for yourself?" Obama said, lowering his head. "Touch it, dude!" As Obama arrives in Philadelphia on Wednesday to speak to the Democratic National Convention, the debate on his legacy is well underway.
BUSINESS
July 17, 2016 | By Joel Naroff
Welcome to the world of "economic disruptors," where a company, technology or way of operation is so different that it forces businesses, governments or individuals to change the way they operate. One of the major disruptors is the so-called gig economy. As with any transformational activity, though, all that glitters is not gold and some will benefit while others fall behind. What is the gig economy? The term borrows from musicians, who play individual "gigs. " That is, they usually, but not always, move from one place to another to perform.
NEWS
July 11, 2016 | By Jane M. Von Bergen, Staff Writer
The nation's roller-coaster job market rocketed to a peak in June after plunging even lower than originally reported in May. The U.S. Labor Department's report released Friday morning shows that the nation added an impressive 287,000 jobs in June, a marked contrast to the 38,000 jobs added in May. That number was revised downward on Friday to a meager 11,000. While economists all agreed that May's meager number was an anomaly, the June report amounted to a giant exhale, as Georgetown University professor and former U.S. Department of Labor chief economist Harry Holzer wrote in an email.
NEWS
July 7, 2016
By Vincent Fraley As the Class of 2016 transforms into the latest crop of young professionals joining the workforce, forgive them any bewilderment. Economists make much of today's shifting business headwinds, so millennials are understandably unsure of what type of economy they are entering. There's Airbnb and the "share" economy; Uber and the "gig" economy; China and the "command" economy. The gurus of Silicon Valley and their hoodie mantras have upended traditional models of management, opening up communal workspaces as quickly as they tear down hierarchies.
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