Alec Phillips News
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After eight years as a guidance counselor at Scotts Valley High School and more than 14 years with the district in Santa Cruz County, California, Kimberly Frey says she lost her job in June as part of budget cuts.
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President Barack Obama first spoke before a joint session of Congress during the depths of a recession. Four years later, much of the mission he laid out remains unaccomplished.
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Gold may climb over the next three months as U.S. lawmakers attempt to tackle the country’s debt ceiling and the world’s largest economy slows, Goldman Sachs Group Inc. said, advising investors to place bets on advances.
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While the U.S. Congress views the convergence of more than $600 billion in tax increases and spending cuts set for Jan. 1 as a “fiscal cliff,” the metaphor misses the economic reality of what could follow.
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States’ tax revenue grew about 6 percent in the three months ended in Sept. 30, Goldman Sachs Group Inc. estimated, the third consecutive quarterly increase as the U.S. climbed out of the longest recession since the Great Depression.
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In a campaign marked by voter anxiety over the economy, both presidential campaigns avoid promises of a quick jolt to boost job creation and focus on long-term policies.
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Moody’s Analytics says its economic- forecasting model shows President Barack Obama winning re- election with 303 electoral votes. Economist Douglas Hibbs Jr., pointing to slow income growth, predicts a Mitt Romney victory. To Yale University’s Ray Fair, the race is simply “too close to call.”
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The U.S. Senate isn’t likely to vote on extending the Bush-era tax cuts before leaving to campaign for the November elections, two senators said.
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U.S. stocks retreated, sending the Standard & Poor’s 500 Index to the lowest level since December, amid concern that Japan’s nuclear crisis will worsen.
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Failure by Congress to extend Bush- era tax cuts even temporarily may erase U.S. economic growth in the first half of next year, according to Alec Phillips , an economist at Goldman Sachs Group Inc.
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