Obama 2.0 and the World
Obama won reelection despite a high unemployment rate, declining average incomes and skyrocketing government debt because voters blamed his predecessor for the economic problems and didn't trust his opponent, Mitt Romney.
Even though the economy has improved somewhat in the past three years, the United States' situation remains dire: the poverty rate is at a historic high of 15 percent; middle class income is back to the 1995 level and wealth to 1983; the unemployed who find jobs end up with significantly lower pay than at their prior employment; and the combined local and federal government deficit at 9.5 percent of GDP and debt stock at 120 percent of GDP.
- Central Bank Cuts Benchmark Lending Rate
- A Passage to India
- Hike in Train Ticket Prices This Year 'Unlikely After All'
- Graphics: Sino-Australian Trade Deal
- Another Hebei Official Is Targeted by Corruption Investigators
- Closer Look: Gov't Wants Proactive Tax Policies, but Ends Up with a Problem
- China-U.S. Investment Treaty Would Strengthen Economic Relations
- Top Prosecutor's Office Plans New Body to Better Fight Corruption
- Exercise Caution
- Book: Living Karma: The Religious Practices of Ouyi Zhixu
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- The Low Official Found with Towering Pile of Cash, Gold and Properties
- At Factory Waste Ponds, Fumes Choke Fantasies
- Some Shanghai FTZ Reform Ideas Introduced to Rest of Country
- Closer Look: Why Shanghai-Hong Kong Stock Connect Was One-Way Road
- Graft Busters Find another Cash Pile, but Family Denies Corruption
- Gov't Gives Academics Failing Grade for Fraud in Research Funding
- Canceled Mexican Rail Contract Gives Chinese Firms Chance to Reflect
- Justin Lin Ignores Population Factor with Growth Predictions
- Sixth NEA Official This Year Is Investigated for Corruption
- Civilized Liberties: What Matters in Preparing Gifts?