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With stimulus spending doing little to combat an unemployment rate at 10.2% and rising, U.S. leaders are starting to take further action. President Barack Obama is holding a jobs summit Dec. 3, followed by a White House to Main Street Tour to "share ideas for continued recovery." Congressional Democrats, meanwhile, hope to tackle a new jobs bill by the end of the year. (See the top 10 recession surprises...
North and South Korea's navies exchanged gunfire for the first time in seven years, raising tensions between the rivals shortly before President Barack Obama visits the region. Both countries reported no injuries from the Nov. 10 skirmish along their western maritime border, though the North Korean vessel sustained heavy damage. Officials in Seoul said the shooting was triggered by a North Korean patrol boat that had strayed more than a mile into South Korean territory; the North said the South was the aggressor. Analysts did not expect the incident to spark further conflict, suggesting that Pyongyang may be seeking...
Garber co-wrote a letter to President Barack Obama about controlling cost in healthcare. The letter was signed by 20 economists, including two Nobel Laureates, Kenneth J. Arrow and Daniel L. McFadden. A third Nobel Laureate, William F. Sharpe, asked for his name to be added to the list of signers...
President Barack Obama is about to announce his new strategy for Afghanistan, but the success of whatever option he chooses will depend heavily on Pakistan acting to stop its territory being used to attack Western forces next door. And that's bad news, because the demands of its own domestic counterinsurgency campaign, doubts about the duration of U.S. commitment in Afghanistan and looming political instability in Islamabad have left Pakistan in no hurry to help...
President Barack Obama spent much of his time in Asia warning Iran that his patience for nuclear diplomacy is wearing thin. "Iran has taken weeks now and has not shown its willingness to say yes to this proposal," Obama said Thursday in Seoul, referring to a deal under which Iran would export the bulk of its stock of enriched uranium to Russia for conversion into reactor fuel. "And so, as a consequence we have begun discussions with our international partners about the importance of having consequences...