We are now finishing the 16th month of the recession, which began in December 2007, according to the National Bureau of Economic Research. Not only is this a long recession, but it's also a severe one, marked by painfully high levels of job losses, a sharply reduced credit flow and a drop in the value of many investments. ...more

March 27, 2009

On their way to the Union train station to welcome home his mother and dad, 9-year-old Sam Gibbons and his aunt came upon a frenzied crowd outside Citizens Bank & Trust. ...more

March 15, 2009

Residents who remember the Great Depression offer their advice. ...more

March 13, 2009

It is one thing when the best-paid people seem to be the smartest and the most accomplished. Those who make much less may not like it, but the differential seems understandable. It is another thing when those people are shown to have committed huge blunders that would have driven their companies out of business, and them into the unemployment line, but for government bailouts. ...more

January 24, 2009

Times have changed. In 1996, President Bill Clinton, under siege from the right, declared that "the era of big government is over." ...more

December 30, 2008

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

December 4, 2008

The reality that the nation is indeed in recession and that the downturn may well be prolonged sent Wall Street plunging Monday, hurtling the Dow Jones industrials down nearly 700 points and wiping out more than half of last week's big gains. ...more

December 2, 2008

President Bush expressed remorse that the global financial crisis has cost jobs and harmed retirement accounts and said he'll back more government intervention if needed to ease the recession. ...more

December 1, 2008

WASHINGTON (AP) -- A panel of the National Bureau of Economic Research says the U.S. economy fell into a recession last year. The NBER says its group of academic economists who determine business cycles met and decided that the U.S. recession began in December 2007. Many economists believe the current downturn will last until the middle of 2009 and will be the most severe slump since the 1981-82 recession. ...more

December 1, 2008

Millions of Americans live in houses that are worth less than they borrowed to buy them. ...more

November 8, 2008