Economics isn’t rocket science, but the U.S. economy is a little like a rocket. If it has enough thrust, it can escape the tug of economic gravity. Not enough, and it just might go into a tailspin. Economists at the Federal Reserve and elsewhere are studying whether today’s slow growth is a precursor to an outright recession -- and if so, why.
In selling an expanded payroll tax cut to lawmakers, the Obama administration faces the predicament it confronts in defending its $825 billion stimulus package: making a case that the economy would be worse without it.
Phil Lubov wore his favorite striped blue tie and brought a stack of resumes, aiming to land a holiday-season sales job to replace the retail position he lost in May. Part-time journalism teacher Gabe Walker said he arrived early, trying to boost his income.