Washington (CNN) – With the White House seizing on income inequality as a key issue ahead of this year’s midterm elections, President Barack Obama’s top economic adviser on Friday brushed off “class warfare” charges from the nation’s wealthiest citizens as “hyperventilation."
Appearing at a Christian Science Monitor breakfast in Washington, Jason Furman, Chairman of the White House Council of Economic Advisers, was asked how the administration plans to talk about inequality without stoking paranoia among the rich.
(CNN) – President Barack Obama entered office amid the deepest recession since the Great Depression. Five years later, the economy is certainly on stronger footing than it was back then, but deep scars remain.
At around $16 trillion a year, the United States produces more in annual economic output than ever before. Home prices are rising again, businesses have been adding jobs for four straight years and the stock market recently reached all-time highs.
CNN's live, comprehensive coverage of President Barack Obama's State of the Union address starts at 7 p.m. ET Tuesday. Go to CNN.com for complete coverage or take it with you on your iPhone, iPad or Android.
(CNN) - Sen. Rand Paul on Sunday clarified comments he made last week about the government's role in discouraging women from having children out of wedlock as a way to stem poverty.
The Republican senator from Kentucky said on CNN's "State of the Union" that he didn't "come up with a policy prescription," such as limiting government aid, but rather said it's up to communities to resolve the problem, which he called the No. 1 cause of poverty in the country.
Washington (CNN) - Nearly 50 million. That’s how many Americans are living in poverty today. It’s an obvious problem, but unfortunately without an obvious solution.
President Barack Obama last week announced economic “Promise Zones,” aimed at hard-hit areas, where the administration is trying to attract investments for improving job creation, education, affordable housing and overall economic security.
Washington (CNN) – This year will be a year of change, according to President Obama and Sen. Thad Cochran, R-Mississippi.
In separate weekly addresses, both promised action on what they consider the most important issues the country faces - the economy and Obamacare, respectively.
New York (CNNMoney) – Despite a recent string of positive economic news, Americans say they aren't feeling the improvements.
A new CNN/ORC poll released Friday showed people were pessimistic that the economy was improving. Nearly 70% said the economy is generally in poor shape, and only 32% rated it good.FULL STORY
(CNN) - While Americans may still deck the halls and stuff the stockings this Christmas, a new poll finds that the state of the economy is playing a major role in how Americans will celebrate it in 2013.
According to the CNN/ORC International poll, Americans plan to curtail their Christmas gift giving and charitable contributions due to economic concerns, while a sizable minority of Americans, 37%, report that the economy will make the Christmas holiday more stressful.FULL STORY
New York (CNNMoney) – The American Dream is supposed to mean that through hard work and perseverance, even the poorest people can make it to middle class or above. But it's actually harder to move up in America than it is in most other advanced nations.
It's easier to rise above the class you're born into in countries like Japan, Germany, Australia, and the Scandinavian nations, according to research from University of Ottawa economist and current Russell Sage Foundation Fellow Miles Corak.FULL STORY
Washington (CNN) – There will be plenty of legacy items by which to judge President Barack Obama.
Obamacare, for instance: Whether the new law that seeks health insurance for every American is a prudent piece of policy or an albatross of government overreach is a matter of opinion. How about drawing down the wars in Iraq and Afghanistan? What about his efforts to police suspected terrorists abroad through the use of deadly drone strikes?FULL STORY