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On Tuesday, House Speaker John Boehner all but promised an ugly fight over the debt ceiling this year unless GOP demands for spending cuts are met.
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There's plenty of economic pain to go around these days because of the recession. Now there's this: Gas prices have surged nearly 9% over the past two weeks.
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Last year it seemed as if the proud wine growers of Bordeaux might actually have to share the financial pain the rest of us were going through. After a wet summer with little sunshine, even the Bordelais -- who like to think their reds are the global benchmark for quality -- were conceding that the 2008 vintage might not be one for the history books. Everyone else hoped that after an overpriced 2007 vintage, Bordeaux prices, which have been mounting steadily over recent vintages, might descend from the stratosphere, aided by weaker global demand.
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The credit card business has grown so wretched that one major issuer is clipping its customers' cards and giving its investors a haircut.
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Stocks rallied Friday after a government report showed that employers cut fewer jobs than expected last month and the long-awaited release of the bank stress test results took away some uncertainty.
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Treasury prices surged Wednesday, after the Federal Reserve said it would buy up to $300 billion in long-term Treasurys - a move the central bank has hinted at for months.
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Thai Prime Minister Abhisit Vejjajiva announced a state of emergency Sunday in the capital city, Bangkok, and surrounding areas in an attempt to tamp down days of intensifying anti-government protests.
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In another sign the company is preparing for a possible bankruptcy filing within the next two weeks, General Motors has agreed to speed up payments to 1,500 suppliers who provide it with the parts it needs to make cars in North America.
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If General Motors goes into bankruptcy, many of its most iconic brands, such as Buick and Pontiac, might not survive.
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