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
New York (CNNMoney) - Has the job market finally hit its stride? Hiring continued at a solid pace in November, and the unemployment rate fell for the right reasons.
The U.S. economy added 203,000 jobs in November. Economists surveyed by CNNMoney had predicted payroll gains of 183,000 jobs.FULL STORY
Updated 1:41 p.m. ET, 12/4/2013
Washington (CNN) – The growing gap between rich and poor Americans is threatening the ideals the country was founded upon, President Barack Obama said in remarks Wednesday that appeared to signal a leftward turn in his economic agenda.
Making sure that the U.S. economy works for every working American is "the defining challenge of our time," Obama said in a speech at the Center for American Progress, a liberal think tank. He later said the "dangerous and growing" income and opportunity gap is jeopardizing the notion that if people work hard, they can get ahead.
Washington (CNN) - Americans views on the state of the nation are turning increasingly sour, according to a new national poll.
And a CNN/ORC International survey released Friday also indicates that less than a quarter of the public says that economic conditions are improving, while nearly four in ten say the nation's economy is getting worse.
Washington (CNN) - Senate Majority Leader Harry Reid said Thursday he wants to pass an increase in the minimum wage in the next two weeks.
"I'm going to try to do it this month," Reid said after leaving a closed Democratic caucus meeting on the issue in the Capitol.
WASHINGTON (CNN) - While never mentioning President Barack Obama by name, Nevada's governor assailed the president's leadership of the country's economy and criticized the White House for refusing to engage with Republican opposition in Congress.
"Good executives, like all good leaders, must expect opposition when making decisions or when making or enforcing the law," Gov. Brian Sandoval said. "But executives must engage those that disagree with them."
WASHINGTON (CNN) - Five years after the economic collapse, President Barack Obama warned Americans on Saturday that if Congress does not pass a budget to prevent the government from shutting down, the nation could be headed toward another fiscal calamity.
"After five years spent digging out of crisis, the last thing we need is for Washington to manufacture another," Obama said in his weekly address.
Washington (CNN) - It's been five years since the banking and credit crisis rocked the U.S. economy, causing markets to plunge, unemployment to spike, housing values to crumble and placing more Americans in financial peril than at any time since the Great Depression.
On Monday, President Barack Obama touted his administration's successes in helping to turn things around even though national economic growth remains sluggish and millions of people have given up looking for work.FULL STORY