In December, retail sales increased 0.1 percent from November and 6.5 percent on a year over year basis
Residential spending increased 2.01 percent from October but remained 63.97 percent below the peak level seen in 2006
US retailers and economists hail the Christmas shopping season, but consumers' binging on holiday gifts will produce more red ink than growth and jobs. Their purchases are nearly all imports – most from China. For real recovery, the US must regain its manufacturing market share.
Newly released 2010 Census figures show that seniors make up a larger share of the American population than ever before. The trend will only gain steam in the years ahead.
A new Census report shows child poverty up since 2007. With many benefits for the poor – such as the Earned Income Tax Credit – expiring at the end of the year, things could get worse.
Top 1 percent cause massive income disparity: a Congressional Budget Office report found that income for the top 1 percent increased 275 percent since 1979, while it only increased 18 percent for other Americans.
Earning a college education benefits families and the economy for generations. Unfortunately, students from low-income homes are earning degrees at the lowest rate in three decades. Washington needs to cash in their economic potential by helping them save for college.
The fight over raising levies on the wealthy, a theme of the 'Occupy Wall Street' protests, is about more than money. It's a clash over fundamental American values.
Homeownership rate falls from 66.2 percent to 65.1 percent in the past decade. Homeownership gap between whites and blacks is biggest since 1960.