U.S. Economy Topics

Democracy Now! stories, posts and pages that relate to U.S. Economy

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Shock Doctrine at U.S. Postal Service: Is a Manufactured Crisis Behind Push Toward Privatization?

Today, postal workers and their supporters are holding events across the country to press their demand for repealing the benefit-funding mandate and push back against calls for their workplace to be privatized. For months, Americans have heard dire warnings about the impending collapse of the United States Postal Service due to fiscal insolvency and a drop in the use of mail service. In early September, the U.S. Postmaster General told Congress...
Sep 27, 2011 | Story
Occupy Wall Street Protest Enters Second Week; 80 Arrested at Peaceful March

It is day 10 of the "Occupy Wall Street" campaign. On Saturday, more than 80 protesters were arrested as hundreds took part in yet another march to Wall Street. Many of them were committing civil disobedience by walking in the street, but some say they were on the sidewalk when officers with the New York City Police Department used nets and physical force to break up the crowd. Videos uploaded to YouTube show officers pepper-spraying...
Sep 26, 2011 | Story
Author Ron Suskind on Obama's Evolution amidst Unprecedented Economic and International Challenges

In part two of our interview with veteran journalist Ron Suskind about his explosive new book, "Confidence Men: Wall Street, Washington, and the Education of a President," he examines the challenges faced by President Obama and his evolution as a leader. [includes rush transcript]
Sep 23, 2011 | Web Exclusive
"Confidence Men" Author Ron Suskind Responds to Obama Admin's Fiery Denials about Financial Crisis

An explosive new book that draws a searing portrait of the Obama administration’s failings, and early management of the economic crisis, has been met with sharp objections from officials within and outside of the White House. We speak with veteran journalist Ron Suskind, author of "Confidence Men: Wall Street, Washington, and the Education of a President." He writes that U.S. Treasury Secretary Tim Geithner ignored an order from...
Sep 23, 2011 | Story
Rev. Jesse Jackson on Taxing the Rich, Occupy Wall Street Protest and Palestinian Statehood

On Monday, President Obama proposed a new tax on millionaires as part of his plan to close the deficit and responded to opponents who have labeled his plan "class warfare." Republicans have vowed to defeat the tax, even as one in six Americans live in poverty. We speak with Rev. Jesse Jackson about how Obama’s plan also includes cuts to Medicare and Medicaid. "I would think, before we end up at that conclusion, we must go...
Sep 20, 2011 | Story
"Occupy Wall Street": Thousands March in NYC Financial District, Set Up Protest Encampment

Demonstrators are marching on Wall Street today on the third day of a campaign dubbed "Occupy Wall Street," which began on Saturday when thousands gathered in New York City’s Financial District. Inspired by the massive public protests in Cairo’s Tahrir Square and Madrid’s Puerta del Sol Square, hundreds have slept outside near Wall Street for the past two nights. We play a video report on the protest by Democracy Now!'s...
Sep 19, 2011 | Story
David Graeber: The Debt of the American Poor Should Be Forgiven

As President Obama prepares to outline a deficit-reduction plan that includes tax increases, as well as cuts to programs such as Medicare and Medicaid, anthropologist David Graeber proposes a radical solution: cancel the debt of the nation’s poor. "Debts between the very wealthy or between governments can always be renegotiated and always have been throughout world history. They’re not anything set in stone," says Graeber,...
Sep 19, 2011 | Story
Obama Admin Faces Controversy over Rushed $535 Million Backing of Failed Solar Power Firm, Solyndra

The Obama administration is facing scrutiny following the failure of a solar energy company that received half a billion dollars in government aid and then went bankrupt, laying off about a thousand workers. Newly disclosed internal White House emails show just 60 days after Obama took office, his administration rushed to approve a $535 million loan guarantee to the solar panel manufacturing company Solyndra, despite warnings from the Office of...
Sep 16, 2011 | Story
U.S. Census Reports Reveals One in Six Americans Are Poor, One in Five Children Live in Poverty

A new U.S. Census Bureau report reveals the number of people living in poverty last year surged to 46.2 million—one in six Americans—the highest number since the Bureau began tracking such data more than 50 years ago. According to the report, blacks and Hispanics together accounted for 54 percent of the poor, with whites at 9.9 percent and Asians at 12.1 percent. Children under 18 suffered the highest poverty rate. Meanwhile, the number of...
Sep 14, 2011 | Story
Obama Jobs Plan Bolder than Expected, But Is It Enough?

Before a joint session of Congress, President Obama laid out a $447 billion package of tax cuts and new government spending Thursday night to help stimulate the economy and create new jobs. His speech comes at a time when 14 million people are unemployed and another 8.8 million are working part-time but seeking full-time work. The official unemployment rate stands at 9.1 percent, and the White House is predicting the rate will not fall below six...
Sep 09, 2011 | Story