Most Americans are earning more money than their parents, according to a new study from Pew's Economic Mobility Project. But that doesn't tell the whole picture: It often takes two incomes to surpass the one salary that was enough for the younger generation's parents.
Elected in 1956, Wisconsin state Sen. Fred Risser is the longest-serving state lawmaker in the country. He may not use Facebook, Twitter or email, but he's gotten a lot done over the years. Considered an "institution within an institution" by some, he was just re-elected for another four years.
Between them, Google Android and Apple's iOS account for more than 90 percent of U.S. smartphone sales, with Windows Phone, BlackBerry and a few smaller players rounding out the mobile market. But the tech world never stands still and other players are making a run for a piece of the growing mobile pie.
U.S. banks made $141.3 billion in net income last year. That's second only to the profit they made in 2006, before the financial crisis. Many of the banks that profited the most, have benefitted from a government bailout.
But the Federal Reserve chairman warns Congress that the "sharp, front-loaded spending cuts" that would come with the so-called sequester could hurt the economy. He recommends "policies that reduce the federal deficit more gradually in the near term but more substantially in the longer run."
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