Analysts Conclude Recession Ended In June

The New York Times reports today that a government research body has determined that the economic recession, which began in 2007, officially ended in June. The 18-month-long recession was the nation’s longest since World War II…

Powell: Obama Must Focus More On Jobs

Former Secretary of State Colin Powell told NBC’s ‘Meet The Press’ on Sunday that the man he endorsed in 2008, President Barack Obana, is losing the confidence of voters.

“I think he has lost some of his ability to connect during the campaign. It’s not just me picking on the president, it’s reflected in the polling,” Powell said. “Some of the anxiety and anger that you see out there, I think, comes from a belief on the part of the American people — whether it’s correct or incorrect, and the White House would say it’s incorrect — that not enough attention (is being paid to jobs) … his singular focus should be on unemployment.”

House Republican Demands Vote On Tax Cuts

In the weekly GOP address, Rep. Greg Walden (R-Ore.) implored House Speaker Nancy Pelosi (D-Calif.) to swiftly schedule a vote on extending tax cuts for Americans of all income levels.

Doing so, according to Walden, would “assure the American people that she will allow nothing short of a full up-or-down vote on bills to cut spending and stop all of the looming tax hikes.”  

“This way, the will of the people and their elected representatives can be heard.  Anything less fails our economy and provides further evidence that Democrats are more committed to preserving their power than helping our economy.”

Pelosi Lauds Warren's Appointment

House Speaker Nancy Pelosi (D-Calif.) released the following statement in response to President Obama’s decision to put Elizabeth Warren in charge of establishing the Consumer Financial Protection Bureau:

“President Obama’s appointment of Elizabeth Warren to oversee the creation of the Consumer Financial Protection Bureau is a true victory for America’s middle class and one of the strongest statements we can make that Wall Street abuses will no longer be allowed to jeopardize our financial security.”

White House Says Both Parties Agree On Tax Cuts

White House press secretary Robert Gibbs told reporters on Friday that Democrats and Republicans agree that extending tax cuts for the middle class is a good idea, and they should work to make that happen as soon as possible.

Gibbs said lawmakers should take a simple approach to the legislation. “Let’s agree on what we agree on, let’s move that forward. And then let’s take what we disagree on and save that for another time to debate.”

While both parties say they’ll support keeping alive tax cuts for the middle class, Republicans have been unwilling to do away with tax breaks for Americans making over $250,000 per year.