More News on Economy in Crisis

Consumers cut borrowing by a record $21.6 billion in July

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WASHINGTON — Consumers slashed their borrowing in July by the largest amount on record as job losses and uncertainty about the economic recovery prompted Americans to rein in their debt. Economists expect consumers will continue to spend... Full story

Relief at the grocery store: Food prices going down

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Grocery shoppers are finally seeing some reprieve from last year's steep price increases. Food prices are dropping on some key items as retailers slash prices to better compete and food makers do more promotions and pass along savings from... Full story

Is economy improving? Men's underwear may tell the story

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WASHINGTON — For one answer to the nation's most pressing economic question — when will the recession end? — just take a peek inside the American man's underwear drawer. There may be some new pairs there, judging by recent reports... Full story

Sales of big-ticket items soar, bolstering economy

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WASHINGTON  — Consumers and businesses went on a big-ticket spending spree in July, sending home, car and equipment sales soaring by the largest amount in years. The sales, detailed in two government reports Wednesday, confirmed a subtle... Full story

White House, Congressional Budget Office project record deficits

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WASHINGTON — The federal government faces exploding deficits and mounting debt over the next decade, White House and congressional budget officials projected Tuesday in competing but similar economic forecasts. Both the White House Office of... Full story

Cash for Clunkers ends quietly in the Springs

BILL MCKEOWN

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The federal government’s wildly successful Cash for Clunkers program went out with a whimper, not a bang, Monday in Colorado Springs, with sedate morning traffic in some showrooms while other dealerships decided not to do any more deals on the... Full story

Cash for Clunkers program nears end, and residents are buying in

BILL MCKEOWN

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Got a 1986 bronze Cadillac DeVille that’s visually stinking up the neighborhood and burning a hole in your wallet? You have today and, realistically, half a day Monday to dump that dinosaur for a new, fuel-efficient chariot before the federal... Full story

Troubled economy tames inflation; wholesale prices fall in July

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WASHINGTON — Inflation was a no-show in July and likely will stay away for months to come, giving the Federal Reserve room to keep invigorating the economy with record-low interest rates. That was the message economists took from a report... Full story

Failed clunker deals may cost consumers

MARTIN ZIMMERMAN

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Consumer advocates called on federal officials today to crack down on auto dealers that they contend are taking advantage of car buyers participating in the government's "cash for clunkers" program. In some cases, the groups said, dealerships are... Full story

Old-fashioned bartering helps with medical bills

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Cash, check or a cord of wood for that doctor visit? As health care costs climb, old-fashioned bartering has seen brisk growth since the economy soured. Hillsborough, N.J.-resident Robert Josefs traded his Web site designing skills for nearly... Full story