Obama urges tax cuts for families under $250,000
President Obama called on Congress to extend Bush era tax cuts for households under 250000 while allowing higher earners to see tax increases. He argued for targeting relief to the vast majority and pointed to a looming November election as shaping tax policy.
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Drought Hurts Corn in 18 States with Slimer Prospects
The USDA reports 30 percent of the corn crop in poor or very poor condition across the 18 top producing states, up from 22 percent a week earlier. Indiana shows 61 percent poor or very poor, Illinois 48 percent, while good to excellent ratings fall to 40 percent from 48. Corn futures rose 31 cents to 7.74 in afternoon trading.
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Cattle Hogs Futures Brief From CME Friday
Cattle and hog futures on the Chicago Mercantile Exchange opened higher and closed lower with choppy trading Friday amid uncertain demand and supply conditions in the U.S. cattle market.
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May credit card use rises but remains below pre recession peak
The Federal Reserve reports May credit card borrowing up eight billion dollars to 870 billion, part of a 17.1 billion rise in overall consumer borrowing to 2.57 trillion. Auto and student loans drive most gains, credit card debt still far below the 1 trillion level seen before the downturn.job growth slowed, consumer confidence dropped, and economists debate whether higher debt signals recovery or financial strain.
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