Approval ratings high as president moves to stem recession woes
WASHINGTON - Large majorities of Americans support President Barack Obama's plans to revive the economy and his efforts to work across party lines, according to a pair of public opinion polls released Monday.
One month into his presidency, a Washington Post-ABC News poll found 68 percent of Americans approve of Obama's job performance.
Sixty-four percent of respondents supported the administration's $787 billion economic stimulus package and the same percentage backed his proposal to prevent housing foreclosures, the Washington Post reported.
Read full story MSNBC
Posted by Auto Accident Lawyers in Phoenix, Arizona
Tuesday, February 24, 2009
Thursday, February 19, 2009
Stocks slide, Dow ends at lowest in 6 years
Outlook for economy, banking and corporate earnings dims
NEW YORK - An important psychological barrier gave way on Wall Street Thursday as the Dow Jones industrials fell to their lowest level in more than six years.
The Dow broke through a bottom reached in November, pulled down by sharp declines in key financial shares. It was the lowest ending for the Dow since Oct. 9, 2002, when the last bear market bottomed out.
The move below that level dashed hopes that the doldrums of November would mark the ending point of a long slump in the market, which is now nearly halfway below the peak levels reached in October 2007.
Read full story MSNBC
Posted by Personal Injury Lawyers in Phoenix, Arizona
NEW YORK - An important psychological barrier gave way on Wall Street Thursday as the Dow Jones industrials fell to their lowest level in more than six years.
The Dow broke through a bottom reached in November, pulled down by sharp declines in key financial shares. It was the lowest ending for the Dow since Oct. 9, 2002, when the last bear market bottomed out.
The move below that level dashed hopes that the doldrums of November would mark the ending point of a long slump in the market, which is now nearly halfway below the peak levels reached in October 2007.
Read full story MSNBC
Posted by Personal Injury Lawyers in Phoenix, Arizona
Tuesday, February 10, 2009
Bush-era offshore drilling plan is set aside
Obama team eyes renewables, seeks more input on Atlantic, Pacific coasts
WASHINGTON - The Obama administration on Tuesday overturned another Bush-era energy policy, setting aside a draft plan to allow drilling off the Atlantic and Pacific coasts.
"To establish an orderly process that allows us to make wise decisions based on sound information, we need to set aside" the plan "and create our own timeline," Interior Secretary Ken Salazar announced in a statement.
Alleging that the Bush administration "had torpedoed" offshore renewable energy in favor of oil and natural gas, Salazar said he was extending the public comment period by 6 months.
Read full story MSNBC
Posted by Auto Accident Lawyers in Phoenix, Arizona
WASHINGTON - The Obama administration on Tuesday overturned another Bush-era energy policy, setting aside a draft plan to allow drilling off the Atlantic and Pacific coasts.
"To establish an orderly process that allows us to make wise decisions based on sound information, we need to set aside" the plan "and create our own timeline," Interior Secretary Ken Salazar announced in a statement.
Alleging that the Bush administration "had torpedoed" offshore renewable energy in favor of oil and natural gas, Salazar said he was extending the public comment period by 6 months.
Read full story MSNBC
Posted by Auto Accident Lawyers in Phoenix, Arizona
Senate passes $838 billion stimulus bill
Democratic leaders vow to deliver legislation to president within days
President Barack Obama's economic recovery plan has passed the Senate and is on its way to difficult House-Senate negotiations.
Just three Republicans helped pass the plan on a 61-37 vote and they're already signaling they'll play hardball to preserve more than $108 billion in spending cuts made last week in Senate dealmaking. Obama wants to restore cuts in funds for school construction jobs and help for cash-starved states.
Those cuts are among the major differences between the $819 billion House version of Obama's plan and a Senate bill costing $838 billion. Obama has warned of a deepening economic crisis if Congress fails to act. He wants a bill completed by the weekend.
Read ful lstory MSNBC
Posted by Personal Injury Lawyers in Phoenix, Arizona
President Barack Obama's economic recovery plan has passed the Senate and is on its way to difficult House-Senate negotiations.
Just three Republicans helped pass the plan on a 61-37 vote and they're already signaling they'll play hardball to preserve more than $108 billion in spending cuts made last week in Senate dealmaking. Obama wants to restore cuts in funds for school construction jobs and help for cash-starved states.
Those cuts are among the major differences between the $819 billion House version of Obama's plan and a Senate bill costing $838 billion. Obama has warned of a deepening economic crisis if Congress fails to act. He wants a bill completed by the weekend.
Read ful lstory MSNBC
Posted by Personal Injury Lawyers in Phoenix, Arizona
Wednesday, February 4, 2009
Cash-strapped states mull new seat belt laws
Changing rules to allow cops to stop drivers opens door to federal money
COLUMBUS, Ohio - Drivers better buckle up or pay the price: More cash-strapped states want to give law enforcement officers the authority to pull over motorists just for not wearing their seat belts.
More than a dozen states that are considering making the switch to primary seat-belt enforcement laws need to do so before July to be eligible for millions in federal money.
Read full story MSNBC
Psoted by Personal Injury Lawyers in Phoenix, Arizona
COLUMBUS, Ohio - Drivers better buckle up or pay the price: More cash-strapped states want to give law enforcement officers the authority to pull over motorists just for not wearing their seat belts.
More than a dozen states that are considering making the switch to primary seat-belt enforcement laws need to do so before July to be eligible for millions in federal money.
Read full story MSNBC
Psoted by Personal Injury Lawyers in Phoenix, Arizona
Obama announces cap on executive pay
The president says annual senior-executive pay must top out at $500,000, one of the new restrictions he announced for financial institutions receiving bailout cash.
Reporting from Washington -- President Barack Obama unveiled new restrictions on pay for executives at financial institutions receiving federal bailout money today, slamming corporate leaders for "narrow self-interest" in enriching their paychecks with taxpayer money.
"For top executives to award themselves these kinds of compensation packages in the midst of this economic crisis isn't just bad taste -- it's a bad strategy -- and I will not tolerate it as president," Obama said during a White House appearance with Treasury Secretary Timothy Geithner. "We're going to be demanding some restraint in exchange for federal aid -- so that when firms seek new federal dollars, we won't find them up to the same old tricks."
Read full story Los Angeles Times
Posted by Personal Injury Lawyers in Phoenix, Arizona
Reporting from Washington -- President Barack Obama unveiled new restrictions on pay for executives at financial institutions receiving federal bailout money today, slamming corporate leaders for "narrow self-interest" in enriching their paychecks with taxpayer money.
"For top executives to award themselves these kinds of compensation packages in the midst of this economic crisis isn't just bad taste -- it's a bad strategy -- and I will not tolerate it as president," Obama said during a White House appearance with Treasury Secretary Timothy Geithner. "We're going to be demanding some restraint in exchange for federal aid -- so that when firms seek new federal dollars, we won't find them up to the same old tricks."
Read full story Los Angeles Times
Posted by Personal Injury Lawyers in Phoenix, Arizona
Wednesday, January 28, 2009
Debt may do what rain, heat, gloom can’t
Postal service considers cutting one day of mail delivery due to deficit
WASHINGTON - Massive deficits could force the post office to cut out one day of mail delivery per week, the postmaster general told Congress on Wednesday.
Postmaster General John E. Potter asked lawmakers to lift the requirement that the agency deliver mail six days a week.
Faced with dwindling mail volume and rising costs, the post office was $2.8 billion in the red last year and, “if current trends continue, we could experience a net loss of $6 billion or more this fiscal year,” Potter said in testimony for a Senate Homeland Security and Governmental Affairs subcommittee.
Read full story MSNBC
Posted by Personal Injury Lawyers in Phoenix, Arizona
WASHINGTON - Massive deficits could force the post office to cut out one day of mail delivery per week, the postmaster general told Congress on Wednesday.
Postmaster General John E. Potter asked lawmakers to lift the requirement that the agency deliver mail six days a week.
Faced with dwindling mail volume and rising costs, the post office was $2.8 billion in the red last year and, “if current trends continue, we could experience a net loss of $6 billion or more this fiscal year,” Potter said in testimony for a Senate Homeland Security and Governmental Affairs subcommittee.
Read full story MSNBC
Posted by Personal Injury Lawyers in Phoenix, Arizona
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