US Consumer Confidence Plunges on Higher Taxes

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WASHINGTON — U.S. consumer confidence plunged in January to its lowest level in more than a year, reflecting higher Social Security taxes that left Americans with less take-home pay. The Conference Board said Tuesday that its consumer confidence index dropped to 58.6 in January. That’s down from a reading of 66.7 in December and the […]

Blacks Bear Brunt of Great Recession Wealth Losses

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WASHINGTON – The Great Recession has had its greatest impact on African Americans, who saw their net wealth decrease at a rate more than four times faster than Whites, according to a recent report by United for a Fair Economy, a Boston-based research group that advocates for economic equality, Black families are losing ground. The […]

Given 2nd Term, Obama Now Facing New Urgent Task

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WASHINGTON – President Barack Obama faces a new urgent task now that he has a second term, working with a status-quo Congress to address an impending financial crisis that economists say could send the country back into recession. “You made your voice heard,” Obama said in his acceptance speech, signaling that he believes the bulk of […]