Fiscal cliff would drive the U.S. economy back into recession.

Fiscal cliff would drive the U.S. economy back into recession before end of 2013, a new report from the Congressional Budget Office said. Congressional Budget Office released a report showing that the most harmful consequences of the fiscal cliff, a fully armed and operational fiscal cliff would cost us 3.4 million jobs. Obama Fiscal Cliff Deal Risks Brush With Recession

HOPELESS: Suicide Rates Rise as Economy Falls

Suicide rates in the U.S. tend to rise during recessions and fall amid economic booms, according to study from..

Source: www.bloomberg.com

Weak economic data suggest 'recovery' fizzling

Fears that the economic recovery is fizzling grew Thursday after the government and private sector...

DEBT SOARS TO HIGHEST LEVEL SINCE WWII...

The federal debt will represent 62% of the nation's economy by the end of this year..

Recession: 5 weeks on the brink

5 weeks on the brink: Reliving the meltdown of '08

Barack Obama is committing the same mistakes made by policymakers during the Great Depression..

His policies even have the potential to consign the US to a similar fate as Argentina..

White House: "The Worse is yet to Come..."

You mean there's more bad news? Yes there is folks. The economy is still in a shambles, unemployment is rising, 'Bruno' opened this weekend, and crime is running rampant. And I'm hungry.

Now there's more news, this time coming from Barack Obama's economic Advisor Larry Summers, and the news is....that, the worse is yet to come....I'm get'tin the hell out't here.

Obama says he loses sleep over deficit fears

President Barack Obama said on Tuesday that worrying about the U.S. government's finances "keeps me awake at night" and the country needed to start planning now to tackle soaring deficits.

In a pair of interviews on CNBC and Bloomberg television, Obama defended increasing government spending to prevent the recession from worsening, and warned the unemployment rate may hit 10 percent this year, a level not seen since 1983.

Oh hell No! - U.S. Gov't owes record $63.8 Trillion

Taxpayers are on the hook for an extra $55,000 a household to cover rising federal commitments made just in the past year for retirement benefits..

BAD GM: shedding 21,000 more jobs, severing its relationship with 2,600 dealers

But there is GOOD News: The government's new road map for General Motors would briefly send it into bankruptcy, erase most of its debt and eventually have it emerge leaner and stronger - and almost three-quarters owned by the taxpayers...

Millionaire total tumbles as credit crunch hits the wealthy

England: The number of millionaires in Britain has almost halved following the slump in property and share prices, a report has revealed..

www.dailymail.co.uk

And YOU get to pay for it - "Banks Need Billions More.."

Regulators have told Bank of America Corp it needs $34 billion of capital to withstand a deep economic downturn, an industry source familiar with results of a government stress test said late on Tuesday..

www.reuters.com

Obama disowns deficit he helped shape...

To be sure, Obama opposed the Iraq war, a drain on federal coffers for six years before he became president. But with one major exception, he voted in support of Iraq war spending..

http://apnews.myway.com

SEE THEIR TAX RETURNS: Barack and Michelle's Tax Returns. $2.7 million in 2008'

SEE THE PRESIDENTS AND HIS WIFES' TAX RETURNS(PDF): President Barack Obama is one taxpayer who filed his returns on time. Tax returns released by the White House show Obama and his wife, Michelle, together made $2.7 million last year.

While that's far more than the U.S. median household income of about $50,000, it's also far less than the Obamas made the previous year. In 2007, they made $4.2 million.

Nearly all of their earnings last year came from the president's two best-sellers.

More Bad News: Bankruptcies rising with vengeance..

The number of U.S. businesses and individuals declaring bankruptcy is rising with a vengeance amid the recession, despite a three-year-old federal law that made it much tougher for Americans to escape their debts, an Associated Press analysis found.

"There's no end in sight," said bankruptcy lawyer Bryan Elliott of Hickory, N.C., who is working seven days a week and scheduling prospective clients a month in advance. "To be doing this well and having this much business, it is depressing. It's not a laugh-a-minute job."

Source: www.apnews.com

Job market is especially cruel for older workers

More Americans 55 and older are working longer, and those who are looking for jobs face a technologically transformed market where potential employers may deem them overqualified.

The recession has not been kind to older workers. With their 401(k)s battered, home values deflated and healthcare costs rising, many have resigned themselves to staying on the job indefinitely. The trend was well underway before the downturn as many continued working to pad their savings or to stay active.

Source: www.latimes.com

Author who foresaw global crisis fears worse ahead

An author who saw the global financial crisis coming fears the next bubble will come in the form of inflation and has little confidence US President Barack Obama's team is up to the challenge ahead.

"The Democrats have replaced the Republicans as the big benefactors to the financial community," said Kevin Phillips, author of "Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism."

Source: www.dailystar.com.lb

Another Time Bomb! - Expert Says INFLATION IS NEXT. "No confidence U.S. President Barack Obama's team is up to the challenge..."

An author who saw the global financial crisis coming fears the next bubble will come in the form of inflation and has little confidence U.S. President Barack Obama's team is up to the challenge ahead.

"The Democrats have replaced the Republicans as the big benefactors to the financial community," said Kevin Phillips, author of "Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism."

Source: www.reuters.com

It's True: Part-Time Jobs With Full-Time Paychecks and Benefits..

When most of us hear the term "part-time job," we think of teenagers working at fast-food chains for minimum wage. However, perceptions like this are quickly changing as more Americans seek out part-time work and find real benefits, financially and otherwise..

Source: http://education.yahoo.net

There's still bad news ahead for the U.S. economy "financial shocks are going to be worse than expected.."

Nouriel Roubini, a professor at New York University's Stern School of Business and chairman of economic research firm RGE Monitor, said on Tuesday that he expected more dour macroeconomic data and problems in the banking and housing sectors, as well as pressures on consumers.

Source: http://finance.yahoo.com