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Independent voices from the The Washington Times Communities
Topic - United States Department Of Commerce
The nation's economy overcame a round of federal budget cuts and posted a surprisingly strong 3.6 percent growth rate in the summer quarter, the Commerce Department reported Thursday morning.
Americans ramped up purchases of new homes in October after three months of soft sales, evidence that the housing recovery is improving fitfully.
During his initial 2008 run for the presidency, Barack Obama attacked no-bid and sole-source federal contracting as wasteful and at least marginally corrupt. He promised that when elected, he would end "the abuse of no-bid contracting once and for all." His administration, he said, would be the most transparent in history and would do away with the cronyism that plagued his predecessors.
An Afghan company with ties to the Taliban gained access to a detention facility located on a NATO air base because of poor U.S. government communication and inaction by the U.S. Army, according to the U.S. special inspector general in Afghanistan.
An Afghan company with ties to the Taliban gained access to a detention facility located on a NATO airbase because of poor U.S. government communication and inaction by the U.S. Army, according to the U.S. special inspector general in Afghanistan.
The economy picked up a bit of speed in the summer quarter, growing at a healthy 2.8 percent rate after rising by 2.5 percent in the spring, the Commerce Department reported Thursday.
The U.S. trade deficit continued to grow in August, even as the Obama administration negotiates a massive trade deal with the European Union that officials hope will add an estimated $130 billion to the economy.
Americans stepped up purchases of new homes in August after cutting back in July, suggesting that higher mortgage rates are not yet slowing the housing recovery.
In a hopeful sign for the economy's final quarter of the month, U.S. businesses in July restocked their shelves and warehouses at the fastest pace since January, according to new government figures released Friday.
Consumer spending at U.S. retailers barely increased during the month of August, hinting to a possible slowing of spending and growth for the economy. The Commerce Department said Friday that August retail sales increased just 0.2 percent from the month of July.
The latest volley in a low-level trade war is the Commerce Department's recent announcement of tariffs on imported shrimp, affecting imports worth $3.5 billion.
House Ways and Means Committee Chairman Dave Camp says President Obama's proposal to enact a business-only tax-reform bill that would plow more money into public-works projects isn't going anywhere in this Congress.
Stocks roared back to record highs on Thursday, driven by good news on the economy.
The U.S. economy has grown significantly faster than previously thought during President Obama's years in office, clocking in at a healthy 2.4 percent pace on average between 2009 and 2012, under sweeping revisions of the gross domestic product report published Wednesday by the Commerce Department.
In the fifth year of Barack Obama's presidency, America's job-starved economy remains weak, insecure and undernourished.