Backers of a gold standard – a view popular with many tea party advocates – see a gold-backed currency as a way to rein in government spending and minimize the role of the Federal Reserve.
Black Friday weekend may give economists a snapshot of how shoppers are feeling going into the holiday season. Even though some consumer numbers are sluggish, Americans may spend when they hit the malls.
Growth rate for the US economy was 2.5 percent in the third quarter, the government reported. That's an improvement over the first half of 2011, when concerns escalated about a double dip recession.
The Obama deficit plan would raise taxes on the wealthiest Americans, but would it hurt the economy? The answer to that question depends on what happens during the next two years.
The GDP grew at an annual rate of only 1.3 percent in the second quarter of 2011, announces the Commerce Department, which also revised first-quarter growth down to 0.4 percent.
Gas prices have fallen to $3.72 since topping out at $3.98 a gallon in May. Plenty of supply and soft demand mean gas prices are likely to keep falling this summer – perhaps another 30 cents a gallon.
The unemployment rate is at its lowest level since May 2009, but this partially reflects some people giving up on job searches.
US poverty rate hit 14.3 percent last year, up from 13.2 percent in 2008. The jump bring the number of the poor to its highest level since 1959, five years before the Johnson-era War on Poverty.