BARACK OBAMA

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White House mulls payroll tax break for business

The White House is considering a temporary cut in payroll taxes that employers pay on wages, an administration official said Thursday, as advisers to President Barack Obama discuss more ways to boost the economy.
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Jobless claims rise, trade gap narrows

The number of Americans filing new claims for unemployment aid unexpectedly edged higher last week, stoking fears of a stalled economic recovery even as a separate report showed record exports in April.
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Fed's Plosser: Default debate political, not economic

The debate over whether the United States should stage a mini-debt default is largely a political one, although action must be taken on the country's fiscal situation, a top Federal Reserve official said on Thursday.
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Fed: U.S. default a huge risk; Fitch may slash rating

A U.S. default is the biggest risk facing the global economy, a top Federal Reserve official said just hours after Fitch Ratings warned it could slash U.S. credit ratings if the government delays bond payments.
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Germany puts Greek restructuring back on table

Germany has put a Greek restructuring back on the table, demanding in a letter to its EU partners that private bond holders make a major contribution to a looming debt relief deal for the struggling euro zone member.
U.S. President Obama speaks during a joint news conference with German Chancellor Merkel in the East Room of the White House in Washington

Obama gets lowest marks yet on economy; poll

President Barack Obama's handling of the economy and its growing budget has been met with Americans' disapproval, according to a Washington Post-ABC poll released on Tuesday.
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Obama urges tough decisions on Greek debt crisis

President Barack Obama on Tuesday urged euro zone countries and bondholders to make tough decisions to contain Greece's debt crisis while the International Monetary Fund said more work was needed for Athens to receive its next block of bailout aid.
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GM CEO warns on playing games with national debt

Politicians should not play chicken with the country's credit rating, but need to focus urgently on finding ways to reduce the rising budget deficit, according to the head of General Motors Co.
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Immigrant Enforcement Program Faces Backlash From Obama Allies

Massachusetts governor Deval Patrick yesterday became the third Democratic governor in a little more than a month to reject Secure Communities, an immigration enforcement program that has become a cornerstone of President Barack Obama's immigration policy.
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Shaky economy worries GM CEO

The shaky U.S. economy, facing stubbornly high unemployment and volatile oil prices, is one of the main worries facing General Motors Co, according to the head of the largest U.S. automaker.

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