Drones, kill lists, computer viruses and administration leaks are all the rage in the current political debate. They indeed merit serious scrutiny at a time when the rules of war, and technologies available for war, are changing fast. That said, these issues are not the foreign policy centerpiece of the 2012 presidential race. Economic renewal and fiscal reform have become the pre-eminent issues,... 

The Cypriot government has issued a statement confirming that it has officially made an EU bailout bid, citing heavy exposure to debt-stricken Greece. This makes it the fifth state within the currency union to ask for help. The request comes just days before a deadline to recapitalize one of the country’s largest banks. “The purpose of the required assistance is to contain the risks to the Cypriot... 

Federal Reserve Chairman Ben Bernanke testified before Congress this week and warned lawmakers that America’s economic future is landing flat on their shoulders. During a Thursday meeting with congressional leaders in Washington, DC, Chairman Bernanke revealed that the dire dilemma of an “Taxmaggedon” coming to America is not just real but likely to rear its ugly head very soon if Capitol Hill... 

A Euro coin with the Spanish national flag in the background. A recent report released by a Spanish institution says 25 percent of Spain’s population lives below poverty line, 2 percent higher than last year, as the country grapples with the highest rate of impoverishment among European states. According to an annual report issued by the Spanish Economic and Social Council (CES), lack of jobs for... 

Almost half of all Americans live in a household where at least one member received government benefits in the first quarter of 2011, according to a new report. Data from the Census Bureau revealed that 49.1 per cent of the population live in a household which gets at least one kind of government benefit with many likely to receive more than one. The figure marks a steep rise in the amount of people... 

A poor American child asking for help. The US Census Bureau’s annual report reveals that the poverty rate among American woman and children reached a 17-year record high in 2010, standing at 14.5 percent. The new report indicates that, women’s poverty rate in the United States stands at 14.5 percent which means that over 17 million people live in poverty. According to the report, a minimum number... 

A homeless man prepares to sleep on the floor of a sports center in Athens on January 30, 2012. A new report says around 13,000 Greek people are homeless in the capital Athens and the number of the poor in the recession-hit country is on the rise. The report by the charity organization, Praksis, which was published on Thursday says in the Greek capital of over four million, around 11,500 Greeks are... 

Millions of Americans may lose homes for debt. Millions of Americans are at risk of losing their homes due to mortgage debt. The finding is by a group of experts from the International Monetary Fund, haning prepared an analytical report on the prospects of the global economy. “About 2.5 million owners of apartments and homes in the U.S. have lost their homes. Other 1,500,000 have systematically... 

It was on a live television morning show where the GOP frontrunner made this comment. After which it took little time for Americans to react. Message boards were flooded with criticism about the Republican candidates’ remark. Romney initially was making his victory rounds after winning the GOP Florida primary just the day before, now he is spending time clarifying his statement, which he says... 

Coping with recession: 49.1million Americans come from poor or low-income households, latest census figures estimate. A record number of Americans – nearly one-in-two – have fallen into poverty or are scraping by on earnings that classify them as low-income, according to new figures. The latest census data reveals a middle class that is shrinking as unemployment stays high and the government’s... 

America’s middle class is disappearing as growing income inequality creates more families in areas either mostly rich or poor, a report says. Around 44 per cent of families live in middle-income neighbourhoods – down from 65 per cent in 1970, the Stanford University study shows. Meanwhile a third of families in the U.S. now live in either rich or poor areas, which has more than doubled on... 

French Prime Minister Francois Fillon delivers a speech during a press conference at Matignon, in Paris, Monday, Nov. 7, 2011. The French Prime Minister announces the country’s second austerity package in less than three months with the aim of protecting France from the widening eurozone crisis and avoiding credit rating downgrade. “The time has come to adjust France’s efforts. With... 

Announcement: Federal Reserve Chairman Ben Bernanke attends a news conference following a two-day policy session in Washington D.C. on Wednesday Europe’s debt crisis poses huge risks to America – while improvements in growth and unemployment are going to be much slower than first thought. Those were today’s dire warnings from the U.S. central bank, although it did note the strengthening in... 

The Obama administration passed another fiscal milestone this week, according to new data released by the Treasury Department. As of the close of business on Oct. 3, the total national debt was $14,837,099,271,196.71—up about $44.8 billion from Sept. 30. That means that in the less-than-three-years Obama has been in office, the federal debt has increased by $4.212 trillion–more than the total... 

Mervyn King, Governor of the Bank of England The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night. Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK...