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China Surpasses Japan as World's No. 2 Economy

For the past three years, China has boasted that it was the world's second-largest economy -- a title held by Japan since 1968. Japanese economists normally downplay such claims but finally accepted today that their country had been eclipsed by its fast-growing neighbor. According to official figures from Japan's Cabinet...

Opinion: National Fiscal Hypocrisy Week

(Nov. 29) -- Welcome to National Fiscal Hypocrisy Week. Today Congress takes up a measure delaying by one month a scheduled 23 percent cut in federal reimbursements to doctors. The cut will automatically go into effect unless Congress acts. But of course Congress will act. Doctors threaten to drop Medicare patients if...

Corporate Profits Soar to Record Levels, but Little Evidence of Trickle Down Yet

(Nov. 23) -- When it comes to the nation's economy, is the glass half full or half empty? On Tuesday, the U.S. Department of Commerce revised its figures for how fast the nation's economy grew in the third quarter. GDP measured 2.5 percent, up 0.3 percentage points from the original estimates of 2.2 percent. A range of...

Obama Seeks Small Biz Aid as Recovery Inches Along

(Oct. 29) -- American economic growth picked up over the summer but not enough to substantially improve the jobs market, and President Barack Obama used the news to push a program aimed at getting small businesses to hire and invest. U.S. gross domestic product, the broadest measure of goods and services produced within...

David Brooks Says Unemployed Care More About Values Than Jobs

(Oct. 29) -- The latest economic growth numbers aren't good: The economy grew just 2 percent in the third quarter, the Commerce Department reported today. It's a "slight uptick" from the previous quarter, reports The New York Times, but not enough to put a dent in the country's 9.6 percent unemployment rate. "The economy...