Economy

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• CNNMoney Survey: Small Businesses Not Feeling the Economic Recovery
  The stock market may have jumped, unemployment may have dropped and corporate profits may be high, but small business owners say the economic recovery has yet to benefit them.
• Debt Limit Resets at Higher Level; Budget Impasse Grinds on
  The U.S. government added $306 billion in new debt during a four-month suspension of the federal borrowing limit, the Treasury Department said on Monday, but there was no sign on Capitol Hill of any movement toward a budget compromise.
• IMF Says Washington Cutting Budget Deficits Too Quickly
  The International Monetary Fund said the United States was getting carried away with a government austerity drive, offering some of the institution's bluntest criticism yet of Washington's rush to cut its budget deficit.
• More Poor People Now Live in Suburbs Than Cities
  The number of people living in poverty in U.S. suburbs surpassed the number of poor in cities over the past decade, driven by strong growth in overall suburban populations, according to an analysis released on Monday.The change is posing a challenge to some traditional U.S....
• Immigration Faces Business-Labor Rift That Undid 2007 Bill
  Movement in the House and Senate on revising U.S. immigration law belies a long-running rift between business and labor that could derail the bill.
• Study: Regulations Under Obama Cost Households $14,768 Yearly
  The latest annual index of federal rules and regulations due this week is expected to show that the amount of red tape in the system has hit a record high and a record cost of $1.8 trillion under the Obama administration.
• Pimco's El-Erian: Japan's Economic Policy 'Revolutionary'
  The boldness of the Bank of Japan (BoJ)'s stimulus plan has impressed Pimco CEO Mohamed El-Erian.
• Economists: Higher Consumer Spending Will Offset Government Cuts
  Consumer spending is likely to pick up this year, while government spending declines at a faster rate, according to a survey of business economists.
• Should You Skip Obamacare and Keep Your Old Plan?
  When the Patient Protection and Affordable Care Act, aka Obamacare, starts rolling out in October, it will overhaul how Americans get healthcare coverage.
• Forbes: The Weakest Economic Recovery on Record
  Obamacare plus food stamps add up to the most jobless recovery in American history, according to a commentary by Forbes.
• Lundberg Survey: Gasoline Price Rises 11 Cents in 2 Weeks
  The average price for regular gasoline at U.S. pumps rose 11.19 cents a gallon in the past two weeks to $3.6566 a gallon, according to Lundberg Survey Inc.
• Obama: Job Market May ‘Stall’ as Result of Budget Cuts
  President Barack Obama told a group of Democratic donors in Atlanta on Sunday that the economy and job market could falter as a result of the automatic spending cuts that went into effect March 1.
• This Week: Home Sales Probably Rose Toward 2009 High
  Home sales probably rose in April to the highest level in more than three years, extending gains in residential real estate that are giving the U.S. expansion a lift, economists said before reports this week.
• Global Economic Picture May Come into Focus This Week
  This week offers the first major gauge of the health of the global economy for May, with big implications for policymakers and investors banking on a steady pickup in activity during the second half of 2013.
• US Job Market Gains Could Lead Fed to Taper QE Early
  The beginning of the end of the Federal Reserve's massive bond-buying program might come sooner than many investors think if recent gains in the U.S. labor market do not prove fleeting.
• IRS Scandal, Higher Premiums Cast Doubts on Obamacare
  Higher-than-expected premiums and the scandal-ridden IRS are casting a shadow over Obamacare, with House Republicans vowing to keep up the fight against President Barack Obama's key agenda item.
• Unemployment Falls in 40 States, Rises in 3
  Solid hiring helped push down unemployment rates in 40 U.S. states last month, the most since November. The declines show job markets are improving in most areas of the country.
• Consumer Sentiment Rises to Highest in Nearly 6 Years
  U.S. consumer sentiment rebounded in early May to the highest level in nearly six years as Americans felt better about their financial and economic prospects, particularly among upper-income households, a survey released on Friday showed.
• Index of Economy's Future Health Rises to Highest in 5 Years
  A gauge of future U.S. economic activity in April rose to its highest level in nearly five years as firming housing and labor market conditions offset weakness in manufacturing, suggesting an anticipated growth slowdown would be temporary.
• Housing Bubble Threat Grows, From Brooklyn to California
  Just a year since the U.S. housing market hit bottom after the biggest plunge in eight decades, signs of excess are re-emerging.
• NY Fed: Consumers Scale Back Spending Due to End of Payroll Tax Cut
  The end of the payroll tax holiday is prompting consumers to cut spending, according to a new survey from Federal Reserve Bank of New York.
• Forget the Governor's Office, Become a College Football Coach Instead
  The highest-paid public employee in most states is most likely a college sports coach, according to data compiled by DeadSpin.com.
• Bloomberg Poll: US on Track for 2 Years of Growth
  The U.S. economy will continue to recover until at least 2015 without tumbling into a recession, achieving the sustained growth that has eluded it since the last slump ended four years ago, according to a Bloomberg poll.
• China President Takes Charge of Sweeping Economic Reform Plans
  Chinese President Xi Jinping has taken charge of drawing up ambitious reform plans to revitalize the economy, sources close to the government said, shunning policy stimulus for fear it could worsen local government debt and inflate property prices.
• France's Socialist Hollande Pushes for Single Eurozone Govt
  French President Francois Hollande called on Thursday for an economic government in the eurozone that would have its own budget, the right to issue debt, a harmonized tax system, and a full-time president.

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