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- Obama: Hole U.S. ‘digging out of’ requires billions more in unemployment benefits
- Obama’s regulatory agenda will cost U.S. economy $143B next year: report
- Patriot Act author on James Clapper: Fire, prosecute him
- Russia P.M. Medvedev: No amnesty for political prisoners
- Michigan GOP Senate hopeful reminds government is the ‘servant’
- Christmas, by Congress: Members mull a 15-cent tax on trees
- U.S. unemployment falls to five-year low of 7 percent; 203K jobs added
- World mourns Nelson Mandela and celebrates his life; burial set for Dec. 15
- Bill O’Reilly reminds: Nelson Mandela ‘was a communist’
Action needed to aid U.S.-Mexico border trade
The U.S. Chamber of Commerce on Wednesday called for the United States and Mexico to tackle issues ranging from drug violence to aging roads and bridges that hamper trade along the countries’ 2,000-mile border.
“These obstacles cost the U.S. and Mexican economy more than $7 billion a year in gross economic output and an estimated 62,000 jobs,” Thomas Donohue, president of the U.S. Chamber of Commerce, told reporters.
The group, working with the American Chamber of Commerce of Mexico, called in a report for increased funding under the U.S. government’s Merida Initiative to help Mexico fight violent criminal gangs.
“No factor is more important to future investment, economic growth and job creation than security and law and order,” Mr. Donohue said.
Trade between the United States and Mexico has grown under the North American Free Trade Agreement, which went into force in 1994, to about $400 billion a year.
Fed survey: Economy falters in several regions
For the first time this year, the economy slowed in several U.S. regions this spring. High gas prices weakened consumer spending, and the Japan crises reduced manufacturing output.
Four of the Federal Reserve’s 12 bank regions suffered slower growth in April and May compared with earlier this year, a Fed survey reported Wednesday. The report confirmed a slew of data that portray a national economy whose growth has faltered. Hiring has slowed, orders to factories have declined and home prices have fallen.
Fed banks in New York, Philadelphia, Atlanta and Chicago said growth weakened in those regions. By contrast, the Fed regions in Boston, Cleveland, Richmond, St. Louis, Minneapolis, Kansas City and San Francisco said growth there remained steady.
The Dallas region was the only one to report accelerating growth. That was mostly because of higher oil prices that benefited that region’s energy industry.
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- Bill OReilly reminds: Nelson Mandela was a communist
- Obama tries to calm Israeli fears over Iranian nuke deal 'not based on trust'
- 'Dude, I'm dreading that I will have to go': Czech prime minister on Mandela funeral
- A Mandela remembrance
- Inside China: Nuclear submarines capable of widespread attack on U.S.
- 'Hunger Games' delivers Obama's message on income inequality
- Behind Andy Reid, Chiefs enjoying a resurgence
- Study suggests link between gun ownership, racism
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