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- Budget deal exposes GOP divisions; conservatives slam tax hikes, vague cuts
Latest Drag-On Items
The recent fiscal crisis has opened a major rift between the tea party wing of the Republican Party and business groups that traditionally have backed Republicans, with many business leaders now vowing to counter insurgent candidates.
The U.S. economy has fared better than expected this year after widespread fears that $85 billion of automatic spending cuts and sharp increases in taxes imposed at the beginning of the year would snuff out growth.
The nation's economic growth accelerated modestly in the summer quarter, rising to a 2 percent annual rate from the sluggish 1.3 percent seen in the spring, the Commerce Department reported Friday morning.
Across the nation, fewer state and local government employees are losing their jobs, marking a slight but significant return of economic confidence after years of massive cuts.
Within the space of a week, the nation has witnessed worst performances on record of new-home sales, home prices and building — evidence that the housing market has sunk into a double-dip recession that poses a significant drag on the overall economy.
The economic outlook improved Thursday as the government reported big drops in the nation's trade deficit in July and a large decline in claims for unemployment benefits last week.
The nation's economic outlook improved Thursday as the government reported big drops in the nation's trade deficit in July and a large decline in claims for unemployment benefits last week.