California's unemployment rate has reached 10.1%, crossing the double-digit mark for the first time in 25 years.

Barack Obama spoke to a joint session of Congress on Tuesday. Though not an official State of the Union address, he outlined his plan for the economy, health care and more, telling Americans that “we will rebuild, we will recover and the United States of America will emerge stronger than before.”

Even as countries worldwide try to figure out ways to halt the downward slide of their economies, the Dow Jones Industrial Average (DJIA) tumbled 251 points to its lowest close, 7114.78, since Oct. 28, 1997, while the S&P 500 index dropped 26 points to 733.33, its lowest level since April 11, 1997.

While some GOP governors are wrangling and posturing over portions of the stimulus package, in what seems to be an obvious attempt to enhance their position in the 2010 election, Florida governor Charlie Crist has no compunction about taking stimulus money, signing an agreement with the U.S. Department of Labor to increase weekly unemployment benefits by $25 per week.

Ford and the United Auto Workers (UAW) have come to terms on a tentative deal on payments to retiree health care fund, according to reports.

Barack Obama wants to cut the federal deficit in half by the end of his first term, despite the fiscal stimulus package. According to an adminstration official, as Obama prepares his budget request for Thursday delivery, he plans to do so by raising taxes on the wealthiest Americans, streamlining government, and withdrawing troops from Iraq.

The Dow Jones Industrial Average (DJIA), which fell to a six-year low Thursday, continued to fall, finishing the Friday down 100 points to a 6 1/2 year low.

On Tuesday, President Barack Obama signed the $787 billion stimulus package, AKA the American Recovery and Reinvestment Act (or ARRA)into law on Tuesday. Nearly simultaneously, his administration launched the promised Recovery.gov website.

Barack Obama signed one of the costliest pieces of legislation into law on Tuesday, a $787 billion stimulus package that Americans hope will restart a sputtering economy.

In late January, New York State (NYS) unemployment hit 7%, as the recession takes its toll. With 25,000 New Yorkers filing new claims for every week, last week state lawmakers agreed to authorize paying out an additional $2 billion this year for unemployment insurance.

A retired British Army major has killed himself after losing his life savings to the Bernie Madoff Ponzi scheme.

At the urging of Rep. Barney Frank, chairman of the House Financial Services Committee, J.P. Morgan Chase, Bank of America and Citigroup all announced temporary halts on foreclosures Friday.