Government and Economy
Consumers Unexpectedly Trimmed Borrowing in OctoberWASHINGTON (AP) - U.S. consumers unexpectedly cut back on their borrowing in October as the economy sunk deeper into recession. The Federal Reserve says consumer credit fell at an annual rate of 1.6 percent in October. That compares with a 3.1 percent growth rate logged in September
Kashkari: Taxpayers Will See Return From BailoutWASHINGTON (AP) - Taxpayers will get money back from the government program providing up to $250 billion in capital to banks around the country, said Neel Kashkari, the director of Treasury's Office of Financial Stability.
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October 1st is just around the corner and regardless of what the Congressional leadership does at the end of September; it will be a seminal day in American political history. If Pelosi, Reid and their compatriots slip another oil drilling ban in the annual appropriation or continuing resolution that they will have to pass to keep the government running, it will demonstrate just how hopelessly indifferent they are to the needs of the American people while highlighting with perfect clarity their fealty to the leftist fringe. On the other hand, if they do nothing then we will be well on our way to developing domestic energy again, lowering the price at the pump and generating revenue that will ultimately lead to the kinds of alternative renewable energy sources that the environmentalists have been carping about for years. It will also mark one of the few times in history when Congress has seen the wisdom in shutting its collective mouth and getting out of the way, which may actually be more im... [Read Full Article]