Home » World News

US Economy

The bankers’ budget

By Jerry White, August 5, 2011

HASH(0x2328e3d8)

Central Falls, Rhode Island files for bankruptcy

By Kate Randall, August 5, 2011

The receiver for Central Falls, Rhode Island filed for bankruptcy protection on Monday, opening the way for new attacks on city workers and retirees.

Notes on the US social crisis

By Naomi Spencer, August 4, 2011

The federal budget deal targets critical social programs that are already under duress at the state level.

Funding deadlock cripples US aviation agency

By Bryan Dyne and Jerry White, August 4, 2011

For the first time in the history of the Federal Aviation Administration, Congress has not approved of funding for the agency, which regulates the safety and operations of aviation industry and the nation’s airports.

US budget deal a “down payment” on spending cuts

By Joseph Kishore, August 4, 2011

Only a day after the passage of a budget deal that will slash some $2.4 trillion in government spending, politicians and media pundits are demanding far more cuts.

US job cuts hit 16-month high in July

By Barry Grey, August 4, 2011

The number of announced job cuts in the US rose to a 16-month high in July, according to a report released Wednesday by the outplacement consultancy firm Challenger, Gray & Christmas.

The US budget cuts and the fight for socialism

By Joseph Kishore, August 3, 2011

The agreement worked out by the Obama administration and the Republican Party to cut trillions of dollars in social spending heralds a new period of social upheaval and class struggle in the United States.

Sharp fall in consumer spending, manufacturing in US

By Andre Damon, August 3, 2011

Economic data released this week provides further evidence that economic growth in the US has virtually come to a halt. The Commerce Department reported Tuesday that consumer spending fell by 0.2 percent in June, the first monthly decline since September of 2009. Personal income increased a negligible 0.1 p

The debt limit deal and the social counterrevolution in America

By Barry Grey, August 2, 2011

The agreement reached by the Obama administration and Democratic and Republican congressional leaders to raise the federal debt limit marks a turning point in the class struggle in the United States.

US House approves record budget cuts

By Patrick Martin, August 2, 2011

The bipartisan deal accepted by the White House calls for nearly $3 trillion in spending cuts, the bulk of them in domestic social spending.

The US debt ceiling deal

By Patrick Martin, August 1, 2011

The Obama administration and the congressional Democrats have embraced unprecedented cuts in domestic social spending.

Massive cuts to education in Pennsylvania budget

By Samuel Davidson, August 1, 2011

Massive cuts in public education, universities and other social programs where among the major items in the budget signed into law by Republican Governor Tom Corbett.