WASHINGTON -- Federal Reserve Chairman Ben Bernanke told Congress Thursday that the economy could be gravely hurt if the nation's fiscal house is not put in order and Social Security and Medicare aren't revamped. "If early and meaningful action is not taken, the U.S. economy could be seriously weakened," Bernanke said in prepared testimony to the Senate Budget Committee. (NEWS MAX)
(CNSNews.com) - A vote to raise taxes on domestic energy production will not only increase America's dependence on foreign oil, it also will lower the value of millions of Americans' retirement funds by sending oil companies' stock prices lower, a taxpayer watchdog group is warning.
(CNSNews.com) - A federal appeals court on Wednesday said the State of Maryland may not require large retailers (Wal-Mart was the target) to spend 8 percent of their payrolls on health care for employees.
Jan. 18 (Bloomberg) -- Mexican President Felipe Calderon unveiled measures to stem a surge in prices for corn tortillas, the mainstay of the country's diet, as eroding support among the poor threatens to undermine his 48-day-old presidency.
Jan. 18 (Bloomberg) -- Crude oil plunged below $50 a barrel in New York for the first time since May 2005 after an Energy Department report showed that U.S. oil and fuel supplies surged.
Jan. 18 (Bloomberg) -- Ecuador's economy minister told a group of investors who visited his office yesterday that much of the country's foreign debt is ``illegitimate'' and that the government may repay only 40 percent of it, Citigroup Inc. said.
Jan. 18 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said the U.S. government may face a ``fiscal crisis'' in the coming decades if it fails to deal with the rising costs of retirement and medical benefits for the aging population.
KUALA LUMPUR, Jan. 18 (AP) -- (Kyodo) _ A major newspaper company has sued two Malaysian bloggers for defamation, an unprecedented move that the opposition warned Thursday is aimed at stifling dissent.
(CNSNews.com) - The Weather Channel's most prominent climatologist is calling on the American Meteorological Society to take away their "Seal of Approval" for any television weatherman who is skeptical of global warming.
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