No recession expected this year: Congressional Budget Office
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The slowing U.S. economy is unlikely  to sink into an election-year recession and an economic rebound  could begin as early as next year as housing and financial  market turmoil fades, the Congressional Budget Office forecast  on Wednesday.
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The U.S. Senate on Thursday,  following the lead of the House of Representatives, approved  $100 billion in new funds for the wars in Iraq and Afghanistan  without a timetable for withdrawing combat troops.
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St. Louis Federal Reserve Bank President William Poole said on Monday the U.S. economy did not appear headed for recession and that the central bank was in a good position to provide a "stable policy base" to help volatile financial markets steady themselves over time.
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The economy may grow slowly the first half of this year, the Bush administration said yesterday, but it is not in recession.
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Mortgage defaults and a "sustained lull" in home building will weigh on California's economy for at least another year but will not tip the state into a recession, according to a forecast released on Wednesday.
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The Congressional Budget Office is predicting the government will accumulate another $855 billion in deficits over the next decade, excluding the costs of President Bush's Social Security plan and ongoing wars in Iraq and Afghanistan.
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The budget that President Bush will submit to Congress today shows the federal deficit falling in each of the next four years and would produce a $61 billion surplus in 2012, administration officials said. But to get there, Bush is counting on strong economic growth, diminishing costs in the Iraq...
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WASHINGTON - The Congressional Budget Office is projecting that this election-year's federal deficit will reach $422 billion, congressional aides said Tuesday, the highest ever, yet a smaller shortfall than analysts predicted earlier this year.    The figure, provided by aides who spoke on condition of anonymity, is sure to provide political fodder for both parties during the remaining two months of the presidential and congressional campaigns...
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The United States will enjoy solid  growth, low inflation and falling unemployment next year, the  White House said on Friday in its official economic forecast  that would normally not be released until February.
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There is no looming crisis in Social Security, and Congress should not rush to create private accounts, Rep. Charles Rangel, D-N.Y. said Saturday.
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The Congressional Budget Office is projecting this election-year&#39;s federal deficit will reach a record $422 billion, congressional aides said
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WASHINGTON - The Congressional Budget Office projected Tuesday that this election-year's federal deficit will hit a record $422 billion, a shortfall that would be smaller than analysts predicted earlier this year.    The figure immediately provided political fodder for both parties now in the final two-month stretch of the presidential and congressional campaigns...
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The White House is betting that the steps it has taken to address the housing and financial crises will be enough to avert a recession without resorting to a major tax cut or new spending, as leading economists in both parties have urged, senior administration officials said.
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Still smarting from the partisan wars of 2007, Congress confronts a sinking economy, a lingering war and election-year politics as it gets back to work for the 2008 session.
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U.S. Treasury Secretary Henry  Paulson on Sunday said he feels good about the U.S. economy and  does not see the country slipping into recession.
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The U.S. House of Representatives broke a four-month deadlock with President George W. Bush on Thursday and approved $100 billion in new funds for the wars in Iraq and Afghanistan without a timetable for withdrawing combat troops.
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It's going to be a tough year on Capitol Hill. Here's what to expect.