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Today President Barack Obama brandished his executive power and defied Republican opposition to name Richard Cordray as the first director of the new Consumer Financial Protection Bureau. Infuriated Republican leaders in Congress say the appointment could be deemed illegal by the courts.

The Obama administration has blamed three major banks for the failure of the foreclosure prevention program. However, they can't be fined.

Conceding his earlier housing programs have fallen short, President Barack Obama on Wednesday proposed a vast expansion of government assistance to homeowners, aiming to make lower lending rates a possibility for millions of borrowers who have not been able to get out from under burdensome mortgages.

For the next two years states and companies dealing with high unemployment costs may get a little more support from Washington, according to CNN money. The Obama administration offers to waive the interest payments for 2 years on the $42.3 billion,

According to President Barack Obama's federal budget plan for the year 2012, the total US public debt held by the nation will continue to accumulate beyond its present $14 trillion level over the span of next 10 years.

According to the statement of the President Obama, jobs growth is very weak now and this can be explained by the current debt fights.

Consider that higher education isn't the ticket to a guaranteed job like it once was. Consider also that education costs have been rising far above and beyond core economic inflation, making it arguably less valuable. Student loans are the one debt that Americans can't get out of.

I suppose it is now safe to reveal that a staffer of Representative Marcy Kaptur put me on the trail of this fraud-in dollar terms it has to be the single biggest fraud in human history. In sheer utter disregard for law it is certainly the most audacious fraud in Western history.

President Obama, new French President Francois Hollande and other political leaders have called for less "austerity" as a way to help the troubled economies on both sides of the Atlantic. That's the polite way of saying they want more government spending and larger deficits.

You will be surprised to know about the frugal habits of the world's richest people like Warren Buffet, Michelle Obama. They prefer to stay away from luxuries and live frugal lives.