Barack Obama, Recession | featured news

Federal Reserve Chairman Ben Bernanke on Tuesday urged Congress and the Obama administration to strike a budget deal to avert tax increases and spending cuts that could trigger a recession next year.

Congressional leaders of both parties will meet with the president in an effort to reach a deal to avoid across-the-board tax increases and spending cuts that could push the economy into recession.

On the day that the Great Recession was officially declared to be part of history, President Obama confronted deepening angst from business leaders and ordinary Americans who have little faith that the recovery is for real.

President Barack Obama will lay out policy proposals to combat double-digit unemployment in a speech on Tuesday tackling an economic problem that has become a political drain on his young administration.

President Obama said Monday the public and private sectors must find more ways to create jobs to continue the U.S. climb out ...

President Obama is cautioning job creation could move slowly as the nation recovers from an economic recession. He told CNN's "State of the Union" signs point to recovery, although creation of enough new jobs could be delayed until next year.

Pedal to the metal, Congress sent President Barack Obama legislation Thursday night with an additional $2 billion for "cash for clunkers," the economy-boosting rebate program that caught the fancy of car buyers and instantly increased sales for an auto industry long mired in recession.

A White House spokesman said Wednesday that the United States has avoided falling off an economic cliff, citing as evidence a new report showing factory orders rose in June for the fourth time in five months, an unexpected gain and the latest sign that the ailing manufacturing sector is recovering.

Students opposed to abortion rights held an all-night prayer vigil. President Obama today ventures to America's foremost Roman Catholic university, where the country's deep divisions over abortion and stem-cell research have moved to the forefront in a time of war and recession.

President Barack Obama said on Tuesday his administration was confronting the economic crisis on all fronts and seeing signs of progress as he sought to reassure recession-weary Americans about his recovery strategy.