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US economy grew at a rate of 5 percent in third quarter, fastest in more than decade

Thursday, 25 December 2014 23:12
WASHINGTON — The U.S. economy is growing at an increasingly rapid pace, government data released Tuesday shows, raising hopes that a slow-going American recovery is transforming into a far more robust expansion. The 5 percent annualized growth reported Tuesday — for the three-month period ending in September — has led some analysts to believe that the U.S. economy could expand next year at a clip reminiscent of the booming late 1990s. But while that period…
​On Christmas, President Obama marks end of Afghan combat
Thursday, 25 December 2014 23:12
KANEOHE BAY, Hawaii -- President Barack Obama marked the end of more than a decade of combat in Afghanistan by paying tribute to America's military, telling troops on Christmas Day that their sacrifices have allowed for a more peaceful, prosperous world to emerge out of the ashes of 9/11. At an oceanfront Marine Corps base in Hawaii, Mr. Obama told troops that while tough challenges remain for the U.S. military in hotspots like Iraq and…
Former President George H.W. Bush won't be home for Christmas
Thursday, 25 December 2014 21:09
HOUSTON -- Former President George H.W. Bush will remain hospitalized through Christmas Day after experiencing shortness of breath two days ago. Bush family spokesman Jim McGrath said Thursday that the oldest living former American president is "still doing well." "President Bush had another terrific day and is in great spirits," McGrath said. "He was visited by Mrs. Bush and his son Neil and daughter-in-law Maria Bush." Mr. Bush, 90, will remain at Houston Methodist Hospital…
Obama family celebrates Christmas in Hawaii
Thursday, 25 December 2014 17:05
The Obama family spent their sixth annual Christmas on vacation in Hawaii with presents, carols and a focus on thanking members of the military. On Christmas Eve, the president made phone calls to service members from each branch of the military who are currently stationed around the globe to express gratitude for their service. On the afternoon of Christmas Day, he and first lady Michelle Obama planned to visit members of the military and their…
Former President George H.W. Bush spends Christmas in hospital
Thursday, 25 December 2014 15:04
AUSTIN, Texas (Reuters) - Former U.S. President George H.W. Bush, 90, remained hospitalized near his home in Houston on Wednesday as a precaution after experiencing shortness of breath, a spokesman for the 41st president said. "President Bush had a good day and his prognosis remains positive," spokesman Jim McGrath said in a brief statement issued Wednesday evening, a day after Bush was admitted to Houston Methodist Hospital. McGrath added that Bush would remain at the…
White House Chef Sam Kass preparing to hang up his apron
Thursday, 25 December 2014 14:04
WASHINGTON -- Political advisers, chiefs of staff, press secretaries and national security advisers have come and gone in the nearly six years Barack Obama has been president. Now, the White House chef is also waving goodbye. Sam Kass has been a fixture at the executive mansion, serving up nutrition policy as well as meals for Obama, his wife, Michelle, and daughters Malia and Sasha. He was not only their personal chef but also senior adviser…
What will it take for the GOP to win the White House in 2016?
Thursday, 25 December 2014 14:04
ATLANTA -- Republicans crowed in 2004 that freshly re-elected President George W. Bush had established a "permanent governing majority" for the GOP. Eight years later, Democrats were touting the enduring power of the "Obama coalition" to keep their party in the White House. But Democrats couldn't sustain that coalition for this year's midterm elections, leading to Republican gains in Congress, governorships and state legislatures nationwide. "The notion of demographics as destiny is overblown," said Republican…
Politicians thank the troops on Christmas
Thursday, 25 December 2014 13:04
As politicians send out their holiday greetings for Christmas, many are choosing to send their thanks to American troops serving abroad. Perhaps the most dedicated of those lawmakers is Sen. John McCain, R-Arizona, who wrote in a tweet that he was "honored" to spend Christmas Eve with troops in Afghanistan this year. Honored to spend this #ChristmasEve with our troops in #Afghanistan - please keep them in your thoughts and prayers this holiday season— John…
US economy accelerates and helps lift Dow to 18,000
Thursday, 25 December 2014 11:01
The economic strength could also shape the Federal Reserve's timetable for raising interest rates from record lows. The government's third and final estimate of growth for the July-September period was the strongest for any quarter in 11 years. The result cheered investors. The Dow Jones industrial average ended the day up about 64 points to 18,024, the first time it's surpassed 18,000. In its report Tuesday, the government sharply upgraded third-quarter growth from its previous…
Politician at Christmas? Thank the troops
Thursday, 25 December 2014 05:56
As politicians send out their holiday greetings for Christmas, many are choosing to send their thanks to American troops serving abroad. Perhaps the most dedicated of those lawmakers is Sen. John McCain, R-Arizona, who wrote in a tweet that he was "honored" to spend Christmas Eve with troops in Afghanistan this year. Honored to spend this #ChristmasEve with our troops in #Afghanistan - please keep them in your thoughts and prayers this holiday season— John…
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