Economy, Financial Reform | featured news

Some business groups, upset about budget and regulatory policies they say are costing jobs, are accusing President Barack Obama of pursuing an agenda that is hurting the U.S. economic recovery.

A Senate committee on Wednesday passed a proposal aimed at helping protect the economy from future meltdowns and taxpayers from more Wall Street bailouts.

Progress has been made toward stabilizing the global financial system but G20 countries must recommit to deliver on reforms that led to the crisis, G20 steering group leaders said in a letter on Tuesday.

In his weekly radio and Internet address, President Obama said that Congress needed to enact reforms to protect consumers, keep banks strong and safeguard the U.S. economy.