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What's Wrong With the U.S. Postal Service: 5 Things to Know

The U.S. Postal Service may lose $10 billion this fiscal year ending Sept. 30, and the agency is nearing default. It even has the potential to close, if Congress doesn't step in with help.

Postal Service's Donahoe Appealing to Congress: Help Save the Agency

U.S. Postmaster General Patrick Donahoe will appeal to Congress Tuesday to help find ways to save the struggling agency, which is nearing default and possibly even facing closure by the end of this year, according to one lawmaker.

U.S. Postal Service May Be Going, Going, Gone (By End of the Year)

Here's a sad tale to tie into Americans: The United States Postal Service, which has been a national institution since Benjamin Franklin was installed in 1775 as the first postmaster general, is going, going, going and almost gone. In fact, one legislator says if Congress doesn't act and do something about the post office's problems, the agency could literally close later this year.

U.S. Postal Service Nearing Default; Agency Pleading to Congress for Help

If Congress doesn't deal with problems facing the United States Postal Service when legislators return Sept. 6 from recess America's mail institution will likely default on a $5.5 billion payment due at the end of this month and likely have to shut down this winter, the postmaster general said.

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CBO Sees $1.28 Trillion Budget Deficit for 2011, Progress from Debt Deal

The much-maligned U.S. debt deal is not inconsequential, according to latest budget deficit and economic analysis report from the Congressional Budget Office (CBO) -- it slices next year's deficit to $973 billion from $1.28 trillion this year, and it will also lower interest rates.

Almost 80% of U.S. Congress Lacks Academic Background in Business Economics

The most widely held academic background was government and law (34.8 percent) followed by the humanities (20.9 percent). Science and technology accounted for 11.5 percent) .

Obama accuses Congress of holding back recovery

A vacationing President Barack Obama accused Congress on Saturday of holding back the economic recovery by blocking common sense measures he said would create jobs and help growth.

Groupon Explains Mobile Location Plans to Congress

Groupon Inc will track customers’ location, even if users don’t have Groupon app in their phone, the company said in response to Congressional questions about policies.

Groupon shares mobile location plans with Congress

Groupon Inc disclosed some details of its plan to offer location-based offers through mobile phones when the largest daily deal company responded on Thursday to Congressional questions about its privacy policies.

Congress, not Fed, must do more for economy: Fisher

The Federal Reserve has no business easing monetary policy further when the real problem facing the economy is fiscal mismanagement in Washington, a top Fed official said on Wednesday.

Anna Hazare 'Arrests' Govt; India Demands Reforms

The arrest of 74-year-old Anna Hazare and the crackdown on the peaceful protest against the tooth-less anti-corruption bill by the Indian government might boomerang against the already troubled government.

Congress Job Approval Hits All-Time Low: Gallup

Poll reveals that 84% of the country disapproves of Congress.

Elizabeth Warren Supported By Political Group

Political action committee wants Warren to run for Scott Brown?s seat.

Starbucks CEO Schultz: Stop Giving to Political Campaigns Until There's a Better Debt Deal

Starbucks' (SBUX) Chief Executive Officer Howard Schultz has a solution for the nation's partisan political divide that's prevented (so far) a substantive, long-term plan to cut the budget deficit: boycott donating to political campaigns.

Can the U.S. Congress do Anything to Create Jobs?

Some would have you believe the U.S. Congress can't do much to create jobs: not true. If Congress says "build us an aircraft carrier," a short time later, an aircraft carrier will appear. Likewise for roads, bridges, schools, hospitals, and the electric grid -- all of which in the U.S. need work and would create jobs.

Warren Buffett to Congress: Stop Coddling America's Rich People

Warren Buffett is urging Congress to stop coddling America's rich people with tax loopholes.

U.S. Stock Market: Dow?s Wild Ride May Continue, on Societe Generale Woes

After a week of wild gyrations that saw the Dow Jones Industrial Average rise or fall 400 points on four consecutive days, there?s word that a major bank in France with a funny-sounding name may be in trouble. Further, if you think a possible problem at France's Societe Generale won?t affect the value of the U.S. stocks you own, think again.

U.S. Postal Service Wants to Cut 220K Jobs; Seeks Approval From Congress

The U.S. Postal Service wants to cut 220,000 jobs. The agency will seek approval from Congress. The postal service has said it will default in late September if it does not get help from Congress.

U.S. Debt Deal: With Super Committee Seats Filled, Hard Work Begins

House Minority Leader Nancy Pelosi, D-Calif., rounded out the super committee by announcing her three House Democratic members for the special bipartisan board. Now the tough work begins: reducing the deficit by at least another $1.5 trillion over 10 years, and as far as the financial markets are concerned, the sooner the reduction is announced, the better.

Obama vows new ideas to boost jobs, slams Congress

President Barack Obama distanced himself from a deeply divided U.S. Congress on Thursday, pledging to deliver fresh ideas to create jobs and slamming lawmakers for "bickering" that gets in the way of recovery.

U.S. Debt Deal: Could Super Committee Help Calm Markets With Deficit Reduction?

With the appointment of nine of 12 members, the "super committee" charged with reducing the budget deficit by at least another $1.5 trillion is taking shape. The body could help stabilize the financial markets by announcing a ?quick-start? agreement on additional debt reduction.

CONGRESS

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