The U.S. Recovery Has Been Spectacular*

We need a real recovery. That's what Mitt Romney said during the campaign, and he was right. Five years since the start of the Great Recession, unemployment is still far too high. It's not for a lack of optimism among policymakers. As Evan Soltas pointed out, the Federal Reserve keeps predicting that prosperity is just around the corner, only to find it's not. Catchup growth is the new Godot. FULL STORY *Compared to almost every other rich country and almost every other financial crisis.

Fiscal cliff would drive the U.S. economy back into recession.

Fiscal cliff would drive the U.S. economy back into recession before end of 2013, a new report from the Congressional Budget Office said. Congressional Budget Office released a report showing that the most harmful consequences of the fiscal cliff, a fully armed and operational fiscal cliff would cost us 3.4 million jobs. Obama Fiscal Cliff Deal Risks Brush With Recession

Barack Obama wins election for second term as president

President Barack Obama handily defeated Gov. Mitt Romney and won himself a second term Tuesday after a bitter and historically expensive race that was primarily fought in just a handful of battleground states. Networks project that Obama beat Romney after nabbing the crucial state of Ohio. FULL STORY

Do companies get a tax break for shipping U.S. jobs overseas?

A: Not specifically for that reason. But companies can deduct business expenses, including the cost of moving a job to another state or even out of the country. FULL STORY

Has President Obama kept his campaign promises?

On our Obameter, we've rated 38 percent as Kept, 16 percent Compromise and 17 percent Broken. Four years ago, Barack Obama made an extraordinary number of campaign promises -- 508 -- on everything from taxes to whaling. We've been tracking each one and have rated them on our Obameter, a five-level scale from Stalled to Promise Kept. FULL STORY

Dow Chemical cuts 2,400 jobs

Dow Chemical announced Tuesday that it is cutting 2,400 jobs, citing slow economic growth in Europe and elsewhere. FULL STORY

VP candidates lay groundwork for top of ticket on Tuesday

Vice President Joe Biden and Republican vice presidential contender Paul Ryan plowed fertile ground in terms of policy and politics during their debate. FULL STORY