This is the VOA Special English Economics Report.
On Wednesday, President Obama proposed major changes to rebuild government supervision of the financial industry.
President Obama announces his plan at the White House
BARACK OBAMA: “So today, my administration is proposing a sweeping overhaul of the financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression.”
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This is the VOA Special English Economics Report.
A business plan, in the words of the Small Business Administration in Washington, is a tool with three basic purposes. As a communication tool, it can show possible investors how well you have considered your ideas. As a management tool, it can list goals and ways to measure progress. And as a planning tool, it can help guide a business around problems.
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This is the VOA Special English Economics Report.
Elected judges in the United States got a warning this week about money, politics and the law. The Supreme Court ruled that a huge campaign donation can be reason enough not to judge a case involving the donor. (更多…)
This is the VOA Special English Economics Report.
The United States Supreme Court began its summer break this week. One of the last decisions of its term will likely cause employers to take greater care in how they choose workers to promote.
The case involved tests that the city of New Haven, Connecticut, gave to firefighters in two thousand three. Minorities were heavily involved in the testing process because of disputes over earlier examinations. But the only firefighters who qualified for immediate promotion to lieutenant or captain were whites and two Hispanics, no blacks.
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This is the VOA Special English Economics Report.
This week, General Motors went to bankruptcy court. It became the second of the big three American automakers to seek protection from its creditors while continuing operations. Chrysler declared bankruptcy on April thirtieth, though its plans to leave the process quickly still await final rulings.
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This is the VOA Special English Economics Report.
The National Association for Business Economics has its latest predictions for the American economy. Most of the forty-five business economists questioned said they expect the recession to end in the second half of the year. But they also expect a slower-than-usual recovery.
Still, there were more signs this week that Americans are feeling better about the economy. The Conference Board said its consumer confidence index had its biggest jump in six years in May. (更多…)
This is the VOA Special English Economics Report.
A bill to place new restrictions on the credit card industry in the United States won final approval this week in Congress. The measure went to President Obama to sign into law with popular support, except among banks.
Credit card companies will have to inform cardholders forty-five days before they raise interest rates or change other important terms. The new act will also bar companies from raising rates on existing debts unless payment is at least sixty days late. (更多…)
This is the VOA Special English Economics Report.
Health care reform was a big subject this week at the White House.
President Obama held a series of meetings, including with Democratic leaders from the House of Representatives. Speaker Nancy Pelosi promised to bring legislation to the full House by the end of July.
The Senate must also act. The president wants to sign a bill into law by the end of the year.
On Monday he got support from leaders of six groups in the health care industry. These represent doctors, hospitals, insurance companies, medical suppliers, union members and others.
A doctor treats a patient at a hospital in Fargo, North Dakota
They promised to do their part to cut the growth rate in health spending by one and a half percentage points a year. The savings over ten years could amount to two trillion dollars.
Many industry leaders opposed reform efforts in the past. But health spending has rocketed over the past generation to about seventeen percent of the economy. President Obama says Americans spend more than any other nation yet the system is broken.
BARACK OBAMA: “At the rate we’re going, we are expected to spend one-fifth of our economy on health care within a decade. And yet we’re getting less for our money.” (更多…)
This is the VOA Special English Economics Report.
Signs that the recession is easing in the United States have led to a lot of talk about “green shoots.” That means early signs of economic recovery, like the way plants begin to shoot up from the ground as a sign of spring. But the extent to which economic green shoots can be found depends on where you look.
Housing prices, economic activity and employment are down across the United States. But the recession which began at the end of two thousand seven has not hurt all fifty states equally.
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This is the VOA Special English Economics Report.
American officials say they will publish results on May fourth from a special examination of banks. The purpose was to see if the country’s nineteen largest banks could survive losses in the event that the recession got even worse.
The Obama administration announced the so-called stress tests in February as part of efforts to rebuild the trust of investors. If banks are told they need more capital, they will have six months to raise the money from private markets or the government. (更多…)