Job creation slower in Bush era
The AP reports that job growth under President Bush trails the Clinton and Reagan tenures by millions. Labor force growth, aging baby boomers, and slower demographics are cited as the principal factors, with 3.7 million jobs added 2001 to 2006 versus 17.6 million under Clinton and 9.5 million under Reagan.
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U S auto loyalty shifts as Chinese and Japanese firms loom
An AP AOL Autos poll shows Americans favor Japanese cars over Detroit’s Big Three. GM Ford and Chrysler seek to revive loyalty by recalling 1960s swagger as China’s Geely and Changfeng enter shows, signaling rising foreign competition and a tense market outlook.
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Oil prices fall as mild Northeast weather limits demand
US oil markets decline extending last week’s drop as heating fuels see weak use amid milder Northeast weather. Prices briefly rose on talk of possible OPEC cuts and Europe energy concerns, then drifted lower as forecasts call for normal temps in coming weeks.
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IRS to Begin Processing 2006 Tax Breaks on Feb 3
The IRS will start processing belated tax breaks including higher education tuition deductions on February 3. The start date also affects state and local sales tax deductions and teachers claiming reimbursements for classroom purchases. These breaks expired Jan 1, 2006 and were renewed in December.
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