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The fallout of a troubled economy

From foreclosure to food shortages, the economic downturn set in motion by the financial crisis of 2008 is having a broad and deeply-felt global impact.

 
 

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A pre-foreclosure sign in front of a home in Miami. The government's marquee homeowners assistance program, known as Making Home Affordable, has failed to gain much traction.


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Economy continues shedding jobs, posing challenge for Obama, Democrats
Article | The nation's economy continued shedding jobs in September, as modest increases in the private sector were offset by steep losses in government employment, the Labor Department reported on Friday.
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In push to let Bush tax cuts expire, Democrats to focus on narrowing income gap
Article | A solid core of Democratic lawmakers says it will urge party leaders to seize a rare opportunity to reverse three decades of rising income inequality by resisting any effort to extend the cuts for the richest 2 percent of households.
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Housing troubles face new Pr. George's county executive
Article | Less than a year after Prince George's County lost millions in federal housing aid , a report is calling on the next county executive to revamp the housing department by conducting a national search for a director, setting up a local trust fund for housing needs and offering more rental housing.
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Connecticut and California join probe of Ally, order foreclosures freeze
Article | Attorneys general in Connecticut and California ordered Ally Financial's GMAC mortgage unit to freeze all foreclosures within their borders, joining a growing list of states investigating whether the firm and other lenders improperly kicked people out of their homes.
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Federal regulator voices concerns over continued government role in home loans
Article | The federal regulator of mortgage finance giants Fannie Mae and Freddie Mac raised concerns on Tuesday about the Obama administration's approach toward housing by questioning whether the government should continue to play a significant role in helping borrowers get home loans.
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Georgetown's retail landscape starts to rebound from recession
Article | On a recent Friday night, the sidewalks of Georgetown were crowded with trendy twentysomethings, business types and a few mystified out-of-towners caught in the traffic created by Fashion's Night Out. The event, an outgrowth of Vogue editor Anna Wintour's effort to gin up business for recession-w...
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D.C., suburbs show disturbing increases in childhood poverty
Article | Three out of 10 children in the nation's capital were living in poverty last year, with the number of poor African American children rising at a breathtaking rate, according to census statistics released Tuesday.
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The grinding reality of growing up poor
Article | When kids are poor, they are little adults, weighed down by a world of no.
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Bill would place 5-year limit on welfare in D.C.
Article | Two D.C. Council members from impoverished areas of the city are proposing to end cash payments to long-term welfare recipients to save tax dollars and encourage more of their constituents to find work.
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Jobless are straining Social Security's disability benefits program
Article | The number of former workers seeking Social Security disability benefits has spiked with the nation's economic problems, heightening concern that the jobless are expanding the program beyond its intended purpose of aiding the disabled.
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2010 worst year for bank failures since 1992
Article | More banks failed in the United States this year than in any year since 1992, during the savings-and-loan crisis, according to the Federal Deposit Insurance Corp.
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Families struggle to build nest egg in wake of recession
Article | For decades, Americans have largely counted on the stock markets and real estate to finance life's biggest expenses, from their children's college to retirement.
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Amid mountain of paperwork, shortcuts and forgeries mar foreclosure process
Article | The nation's overburdened foreclosure system is riddled with faked documents, forged signatures and lenders who take shortcuts reviewing borrower's files, according to court documents and interviews with attorneys, housing advocates and company officials.
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Tax wrangling creates uncertainty about paychecks
Article | With Congress in a muddle over tax rates for next year, uncertainty over how much to withhold from workers' pay has begun to worry the nation's payroll administrators.

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