Long before Steven Slater's wild ride down the escape chute, there was bus driver William Cimillo. Cimillo, as the Times tells us, made Slater look like a rank amateur: A Bronx bus driver fed up with the daily annoyances and nonsense of it all, Mr. Cimillo, 38, climbed behind the wheel of his bus one morning in 1947 and took a 1,300-mile... MORE»
Wednesday, August 11, 2010
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Dan Rostenkowski, once called one of the nation's most power politicians, died Wednesday. His lengthy political career in Washington began in 1958 and ended amid scandal in 1994.
The Vice President of the United States, Joe Biden, is kind of dangerous. He seems to leave a path of minor destruction wherever he goes. The most recent incident occurred this morning at a Long Island air field. Air... MORE >
|By Ed Carson|
|Wed., Aug. 11, 2010 12:38 PM ET|
June’s trade deficit swelled 18.8% to $49.9 billion, the highest since October 2008. That was much worse than Wall Street predicted — or what the Commerce Department estimated in the recent Q2 GDP report. The new report, along with recent inventory data, suggest Commerce will revise down Q2 economic growth from the already-sluggish 2.4% annual rate to about 1%, according to Action Economics. Action Economics is looking for stronger retail inventory figures later this week that would imply a 1.4% GDP pace.
Go to the link below to see what your fellow folks are saying about this latest blow to the economy.
The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.
Federal spending eclipsed revenue for the 22nd straight time, the Treasury Department said Wednesday. The $165.04 billion deficit, while a bit smaller than the $169.5 billion shortfall expected by economists polled by Dow Jones Newswires, was the second highest for the month on record. The highest was $180.68 billion in July 2009.