Economy
In a national referendum on Saturday, Icelanders rejected a plan to repay the U.K. and the Netherlands €3.9 billion ($5.3 billion) lost in the collapse of Icesave bank in 2008.
Two German congressmen suggested on Thursday that Greece should raise money from selling some of its uninhabited islands in order to avoid bankruptcy.
Economists Warn New Crisis Looming Over U.S.
Another financial crisis, even worse than the current one, is threatening the United States, according to a new report from a group of leading economists, financiers, and former federal regulators.
China's huge bubble to burst soon?
According to Marc Faber, publisher of the Gloom, Boom & Doom Report, the Chinese economy might crash in 2010.
House Faces Tough Vote on $1.9 Trillion More Debt
WASHINGTON - Democratic leaders in the House of Representatives are counting on new budget deficit curbs to help smooth the way for a bill allowing the government to go $1.9 trillion deeper into debt over the next year -- or about $6,000 more for ...
Obama Sends Congress $3.8 Trillion Budget, Soaring Deficits Projected
Republicans on Monday slammed President Obama's $3.8 trillion budget as a fiscally irresponsible spending spree, casting doubt on the administration's claim that the budget reflects cutbacks and hard choices.
US Senate agrees to record increase in debt limit to $14.3 trillion
The Senate agreed Thursday to raise the legal limit on government borrowing to $14.3 trillion, a historic high that would permit the Treasury Department to cover the nation's bills through early next year.
Patrick Unveils $28.2 Billion Budget Proposal
BOSTON — With a little more than five months to go before the start of the new fiscal year, Gov. Deval Patrick is releasing his 2011 budget proposal. The $28.2 billion budget increases spending by 3 percent over the current fiscal year.
Obama Vows to Fight for Jobs in Retooled Message
President Barack Obama tried to revive his battered agenda and rally despondent Democrats on Friday with a renewed emphasis on jobs. His visit to this struggling Rust Belt city capped a tough first-anniversary week for a presidency that suffered j...
Maryland Gov. O'Malley proposes money transfer, few layoffs to close budget gap
ANNAPOLIS — Maryland Gov. Martin O'Malley proposed cutting more than $1 billion from state programs, laying off 44 state workers and borrowing nearly $1 billion slated for ongoing capital projects to help close Maryland's $2 billion budget deficit.
Virginia governor outlines bold economic plan, is vague on funds
RICHMOND -- Virginia's new governor, Robert F. McDonnell, outlined a series of ambitious and costly proposals Monday night to create jobs and spur economic development, including adding tens of millions to programs that lure businesses to the stat...
Maryland: Gov. O'Malley's budget to focus on job creation and budget cuts
Maryland Gov. Martin O'Malley will outline a spending plan Tuesday that relies heavily on shuffling money between bank accounts and cuts to almost all state programs except K-12 education to close an 18 percent budget gap, according to sources fam...
NY: Gov. Paterson's budget expected to include education cuts, new taxes
ALBANY -- Gov. David Paterson will unveil a 2010-11 budget proposal Tuesday that will seek cuts in aid to schools and health care as the state grapples with a $7 billion to $8 billion deficit when the fiscal year begins April 1.
California Budget Not Likely to Get Much Federal Aid
California Governor Arnold Schwarzenegger shouldn’t expect the federal help he’s seeking to erase a $20 billion deficit the most-populous U.S. state faces, fiscal analyst Mac Taylor said.
California Requests Billions From U.S.
SACRAMENTO, Calif. -- Republican Gov. Arnold Schwarzenegger asked for $6.9 billion in federal funds in his state-budget proposal Friday and warned that state health and welfare programs would be threatened without the emergency help.
Obama Refocuses on Jobs After Weak Labor Report
His agenda altered by the Christmas bombing attempt, President Barack Obama pivoted back to the domestic economy on Friday, promoting new U.S. spending to create tens of thousands of clean-technology jobs.
California Gov. Schwarzenegger seeks bold agenda but details short
SACRAMENTO, Calif.—Signaling that he will not quietly wind down duties during his final year in office, Gov. Arnold Schwarzenegger unveiled an ambitious agenda of job creation, tax and budget reforms and stable education funding in his State of th...
Missouri Gov. Jay Nixon Outlines Business Incentive Plan
Missouri businesses could gain extra tax incentives for choosing to expand in-state instead of elsewhere under a proposal outlined Tuesday by Gov. Jay Nixon.
Schwarzenegger to propose spending $500 million for California worker training
Sacramento - Gov. Arnold Schwarzenegger today will lay out plans to spend $500 million on worker training in an effort to create 100,000 jobs, along with other measures to stimulate the economy, as a centerpiece of his policy agenda for his final ...
California leaders seek budget help from D.C.
California's political leaders, who are facing the daunting challenge of closing an estimated $20.7 billion budget deficit this year, are looking to Washington for help. Just don't call it a bailout.