
The US Is Officially in a Recession — Are You Surprised? We've been throwing around the word recession in connection with the US economy for some time now — everything from recession-proof jobs to recession-proof beauty is common vocabulary. However, in a statement released just today, the National Bureau of Economic Research conceded that the economy has been in a recession since December 2007.

Gift certificates and gift cards may seem like a risky investment because some
newly bankrupt companies refuse to honor outstanding gift cards, but apparently there's an even more controversial gift option on the market this year. Planned Parenthood in Indiana is
offering gift certificates for the first time ever. The organization said a big increase in calls and visits from newly unemployed and uninsured citizens prompted what it deems the "unusual, yet practical" gift option.

While Americans give thanks tomorrow, Israel's top rabbis have
called for mass prayer rallies across Israel to help end the global financial crisis. Jewish religious institutions have been hit hard by the economic downturn, as fundraising efforts in the US and Europe have proved futile.
This past summer, religious leaders in the US
held gas station-side prayer vigils in an attempt to reduce pain at the pump.

Between 2003 and 2006
thousands of ineligible multi-millionaires cultivated farm subsidies from the US Agriculture Department. A congressional report shows that a financial firm executive, a professional sports team owner, a former executive of a technology company, and residents of Hong Kong, Saudi Arabia and the United Kingdom received thousands of dollars of taxpayer money via farm subsidies.
Officials at the Agriculture Department say they're innocent, since the congressional investigators could access IRS records off limits to them.

Obama Introduces His Economic Team Today Barack Obama introduced the top economic advisers for his new administration. The president-elect said his newly minted economic team offered "sound judgment and fresh thinking" at a time of economic peril. "The economy is likely to get worse before it gets better," he said in a downbeat forecast, delivered as Americans head into the year-end holiday season.
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