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A Potential Superhero For The Supercommittee

At a hearing before the bipartisan deficit-cutting panel on Tuesday, the head of the Congressional Budget Office managed to short-circuit partisan bickering over the debt by laying out some facts: Trimming around the edges is not going to be enough to slash the deficit this fall, Doug Elmendorf warned.
NPR

Census: 2010 Saw Poverty Rate Increase, Income Drop

The nation's poverty rate rose last year to 15.1 percent, the highest level in 17 years, according to new data from the Census Bureau. The agency's latest poverty report, released Tuesday, shows that the median income dropped last year by more than 2 percent to about $49,445.
NPR

Businesses In Joplin, Mo., Find Economic Opportunity

The tornado that destroyed nearly one-third of the city took out homes, schools and businesses. To mitigate the ongoing impact on the local economy, business owners and the area's Chamber of Commerce are finding ways to re-energize the local market.
WAMU 88.5

Census: D.C. Has Third-Highest Poverty Rate

homeless man

The number of Americans in poverty rose to 46 million in 2010, according to new figures from the Census Bureau released Tuesday.

NPR

Bank Of America To Cut 30,000 Jobs, Trim Expenses

Bank of America says it will eliminate 30,000 jobs over the next few years. Officials say the cuts could save the bank as much as $5 billion. The Charlotte-based bank is trimming costs to deal with mortgage losses, mounting lawsuits and a stock price that has shed half its value in just 12 months.
NPR

When Cutting Spending, Panel Encouraged To 'Go Big'

The 12 members of the congressional supercommittee tasked with cutting at least $1.2 trillion from the deficit meet in Washington, D.C. Tuesday. The bipartisan panel is getting pressure to cut even more. This comes as President Obama is asking Congress to fast-track his jobs bill.
NPR

Georgia Banks Aren't Peachy, Lead U.S. Failure Rate

As the economy has faltered over the past several years, the number of bank failures has grown. Nowhere is the problem more pronounced than in Georgia. Since 2008, 70 banks have failed there. That's almost a quarter of all banks in the state.

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