Bernanke: U.S. Economy Continues Slow Recovery

By MacKenzie C. Babb
Staff Writer
The U.S. economy is continuing to recover but appears to be doing so at a slower pace than economists expected, according to Federal Reserve Chairman Ben Bernanke. The chairman delivered the central bank’s semiannual monetary
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Philly: Use Smartphone & Get Luxury Car

Do you need a luxury car right now? Just use your smartphone - no dialing, no explaining your location or destination, and no waiting longer than a matter of minutes. And a shiny black Lincoln Town Car will appear before you. A luxury car service came to Philadelphia. "Uber is part (more...)

U.S. Trade in May Shows Significant Annual Growth

By MacKenzie C. Babb
Staff Write
U.S. exports in May reached $183.1 billion, bringing total exports for the first five months of 2012 to $908.7 billion — a 5.7 percent, or $48.6 billion, increase from the same period in 2011, according to a new Commerce Department report. “U.S. exports posted (more...)

U.S. Economy Adds Jobs in June: Employment Rate Unchanged

By MacKenzie C. Babb Staff Writer The U.S. private sector added 84,000 jobs in June, making it 28 straight months of employment growth, according to a report released July 6 by the Labor Department. “While the economy is continuing to heal from the worst economic downturn since the Great Depression, (more...)

A Balancing of Interests

This article is excerpted from the book Outline of the U.S. Economy, published by the Bureau of International Information Programs. The U.S. Constitution, ratified in 1788, sought to ground the new nation’s experiment in democracy in hard-won compromises of conflicting economic and regional interests. “The framers of the Constitution wanted (more...)

Liquor Privatization, Putting People Back to Work In PA

When it was created nearly 80 years ago during the administration of Gov. Gifford Pinchot, the goal of the state store system was to make liquor sales “as inconvenient and expensive as possible.” Lawmakers of Pennsylvania will work to change that this week when they take up (more...)

An Economy Driven by Competition

This article is excerpted from the book Outline of the U.S. Economy, published by the Bureau of International Information Programs. Many economists agree that an understanding of the American economy begins with Adam Smith’s concept of the “invisible hand.” Smith, considered the father of economics, wrote in The Wealth (more...)

G8 Nations Agree to Promote Economic Growth, Job Creation

By Merle David Kellerhals Jr. Staff Writer

President Obama says leaders of the Group of Eight (G8) nations agreed at the 2012 Camp David Summit to promote further economic growth and job creation that will stabilize and strengthen their economies for the future.
“For the past three years, our nations (more...)

Experts Describe Consequences of Raiding PA Race Horse Fund

In testimony before the Senate Democratic Policy Committee today, Pennsylvania horse breeders, trainers, and veterinarians described the economic success of the Race Horse Development Fund, and the risks to the state’s economy if the fund is raided to plug budget holes. “We heard a very convincing (more...)

Trump Tower Project In Batumi, Georgia reported, that the U.S. real- estate developer Donald J.Trump said, " he may invest more than $100 million in a residential high-rise on the Black Sea coast of Georgia as he considers projects in other former Soviet Union countries". Trump visited the capital of Georgia - Tbilisi and  discussed (more...)

Improving the Commonwealth Jobs Climate

The House will continue its focus on rebuilding the state's jobs climate from the destruction caused by Gov. Ed Rendell. Republicans are working to recreate in Pennsylvanian an atmosphere where people can build careers and improve their quality of life. The fact is, private-sector job creation and career-building is the best (more...)

Homeowners Discussed Impact of Property Tax Reassessment

As the City of Philadelphia undergoes a property assessment overhaul, residents across some older sections of Northeast Philadelphia could see a spike in their property taxes. Concerns over Mayor Michael Nutter’s Actual Value Initiative (AVI) have prompted two state lawmakers to more closely scrutinize the plan. (more...)

House Republican Announced Top priority – “EmployPA”

Pledging to undo the damage of the previous Democrat administration, and aiming to improve job opportunities for Pennsylvanians by leveling the playing field for job creators, House Republicans today announced their top priority, called “EmployPA,” which is aimed at creating more family-sustaining jobs and improving the (more...)

U.S. Economy Strongly Linked to Global Recovery

By MacKenzie C. Babb Staff Writer The global economic recovery requires the support of a strong U.S. economy, says International Monetary Fund (IMF) Managing Director Christine Lagarde. “The global economy is trying to emerge from the deepest and most painful economic crisis since the Great Depression,” Lagarde said April (more...)

Philadelphia Housing Crisis Protest

Last week there was a meeting in the Center City of Philadelphia: members from local chapter of  gathered at 15th and Market Streets to send a message to the President Obama about the housing crisis. “Save our homes!! Save our homes!!” shouted the protestors, CBS News reported. “I’m a homeowner (more...)


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