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Related Debt News for our Colton NY visitors

Reuters - New York City Mayor Michael Bloomberg said he had advised President-elect Barack Obama's transition team to boost U.S. economic growth by fixing the credit markets so that cities and states can resume borrowing to build infrastructure projects.

Reuters - Former New York Governor Eliot Spitzer, who resigned earlier this year over his involvement in a prostitution ring, will write a column for online magazine Slate.com about the economy and financial regulation.

AP - President-elect Barack Obama selected New Mexico Gov. Bill Richardson as his commerce secretary Wednesday, naming a prominent Hispanic to his new Cabinet and calling him a leading "economic diplomat for America" in troubled times.

AFP - The US dollar was largely stable against the euro and yen Wednesday as more bearish news on the faltering US and European economies surfaced.

AFP - US job losses accelerated in November while German car sales skidded, according to the latest batch of data Wednesday that added to worries about the global economic outlook.

AP - The country's economic picture has darkened further as Americans hunkered down heading into the holidays, forcing retailers to ring up fewer sales and factories to cut back on production.

Reuters - Private employers cut 250,000 jobs in November, an unexpectedly large number and the biggest in seven years, while the service sector, which powers most of the economy, posted its worst slump on record.

Reuters - Treasury Secretary Henry Paulson is weighing whether to ask Congress for the remaining $350 billion of the financial bailout fund, with White House aides approaching President-elect Barack Obama's transition team about the idea, an Obama aide said on Wednesday.

Reuters - Record declines in the vast U.S. and European service sectors and more grim U.S. employment news on Wednesday sparked fear of an economic "free fall," setting up another round of aggressive interest rate cuts.

AFP - The US labor market shed jobs at a breakneck pace in November amid deteriorating economic conditions, surveys showed Wednesday, signaling the world's largest economy is diving into the depths of recession.

Reuters - Treasury secretary Henry Paulson is debating whether to ask Congress for the next $350 billion in the $700 billion U.S. bailout, the Wall Street Journal reported on its website on Tuesday.

Reuters - Economic activity has weakened across the United States since early October, while price pressures have eased with declines in retail and energy prices, the Federal Reserve said on Wednesday.

AFP - Economic activity weakened across the United States over the past several weeks with most sectors facing pressure, the Federal Reserve said in its Beige Book report Wednesday.

AFP - Oil prices tumbled Wednesday under 45 dollars, hitting their lowest point since February 2005, as weak US economic data sparked renewed concern about slowing global energy demand.

AFP - The US private sector lost 250,000 jobs in November, the largest decline in six years, in a further indication of a tightening labor market amid recession, according to a private payrolls report Wednesday.

Reuters - The chief executive of American Express Co said on Wednesday that the current financial downturn is strongly affecting the spending of people in high income levels, a departure from prior economic slowdowns.

AP - Worker productivity slowed in the summer while wage pressures increased, but both developments were better than expected and are unlikely to raise inflation alarms at the Federal Reserve.

AFP - Oil prices tumbled under 45 dollars on Wednesday to reach their lowest level since February 2005 after more weak US economic data sparked concern about slowing global energy demand.