By MARTIN CRUTSINGER
(Forbes.com – The Associated Press)
WASHINGTON — A lower dollar appears to be boosting the U.S. economy only gradually, with higher prices on imported oil helping outweigh the benefit of cheaper American exports.
The latest evidence was a government report Friday that the U.S. trade deficit jumped in September by the largest percentage amount in more than a decade. A big culprit was foreign oil, whose prices hit their highest point in nearly a year. That helped eclipse a fifth straight gain in U.S. exports.
Economists think a rebounding global economy will keep raising demand for U.S. exports. The dollar’s value … Continue Reading
Fannie Mae: “Deed For Lease” Program Will Let Thousands Rent Out Homes To Avoid Foreclosure
By Alan Zibel
(Associate Press – The Huffington Post) Thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced Thursday.
The government-controlled company, through its new “Deed for Lease” program, will allow borrowers to transfer ownership to Fannie Mae and sign a one-year lease, with month-to-month extensions after that.
The program will “eliminate some of the uncertainty of foreclosure, keeps families and tenants in their homes during a transitional period, and helps to stabilize … Continue Reading
A look at key issues in the health care debate:
(The Associated Press)
THE ISSUE: Which former presidents have attempted comprehensive health care reform and why hasn’t anyone succeeded?
THE POLITICS: Many have tried. Only Lyndon Johnson achieved transcendent reform, with passage of Medicare and Medicaid protecting the elderly and poor, but universal coverage has been an elusive goal for over a century. Franklin Roosevelt promoted national health insurance but gave priority to jobs and retirement security during the Depression. Harry Truman fought for a single insurance system to cover everyone but ran into Republican opposition and the cries of “socialized medicine” heard … Continue Reading
Editor’s Note: We all love reading articles like this that suggest the economic recovery is at hand. However, think of this sentence buried in the text as the disclaimer: “…the government’s stimulus spending already had its biggest impact and probably wouldn’t contribute to significant growth next year.” We will survive this financial crisis by being realists, not misguided idealists seeking short-term fixes.
From the Associated Press
(The Los Angeles Times) New York – Hopes for the fledgling economic recovery got a boost today from better-than-expected news on manufacturing, construction and contracts to buy homes.
U.S. manufacturing activity grew in October at the fastest … Continue Reading
