Schwarzenegger declares emergencymore similar news »
California Gov. Arnold Schwarzenegger on Monday declared a fiscal emergency, calling for fast legislative action to alleviate the state's $11.2 billion shortfall in revenue.
Obama and governors to talk state aidmore similar news »
Plagued by rising unemployment, falling tax revenue and increased demand for state services, governors from across the country will meet with President-elect Barack Obama on Tuesday to press for federal money to ease their fiscal strain.
Dow plunges 680 pointsmore similar news »
Stocks got hammered Monday, as investors bailed out following confirmation that the U.S. is mired in a recession and indications that it's likely to continue for some time.
Bernanke: Economic weakness to continuemore similar news »
Federal Reserve Chairman Ben Bernanke said on Monday that the nation's economic weakness will persist for some time, even if the government's efforts to boost lending help restore the credit markets to normal.
It's official: Recession since Dec. '07more similar news »
The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy .
Paulson: Feds to expand rescuemore similar news »
The federal government is reviewing applications from hundreds of banks seeking rescue funding and is "actively" developing new programs to right the nation's unsettled financial system, Treasury Secretary Henry Paulson said Monday.
JPMorgan Chase to cut 9,200 WaMu jobsmore similar news »
JPMorgan Chase said Monday it plans to lay off 9,200 employees at Washington Mutual, the failed savings and loan that the New York City-based banking giant bought in September.
Dollar mired in economic woesmore similar news »
The dollar gained against the euro and the British pound Monday after a slew of dismal economic reports and official word that the U.S. economy has been in a recession since December 2007.
