The U.S. dollar fell to five-month lows against a basket of currencies Friday as an advance in global equities and signs of an easing global recession drove investors to snap up higher-yielding currencies and riskier assets.

Global stocks rose and some equities markets posted 2009 highs, diminishing the safe-haven allure of dollar assets and sending the euro to a 2009 high against the dollar. A government report showed the U.S. economy contracted slightly less than initially estimated in the first quarter but the market had expected evidence of a shallower recession. Read the rest of this entry �

By Dennis Cauchon, USA TODAY
Taxpayers are on the hook for an extra $55,000 a household to cover rising federal commitments made just in the past year for retirement benefits, the national debt and other government promises, a USA TODAY analysis shows.

The 12% rise in red ink in 2008 stems from an explosion of federal borrowing during the recession, plus an aging population driving up the costs of Medicare and Social Security. Read the rest of this entry �

By Liz Capo McCormick and Daniel Kruger

May 29 (Bloomberg) — They’re back.

For the first time since another Democrat occupied the White House, investors from Beijing to Zurich are challenging a president’s attempts to revive the economy with record deficit spending. Fifteen years after forcing Bill Clinton to abandon his own stimulus plans, the so-called bond vigilantes are punishing Barack Obama for quadrupling the budget shortfall to $1.85 trillion. By driving up yields on U.S. debt, they are also threatening to derail Federal Reserve Chairman Ben S. Bernanke’s efforts to cut borrowing costs for businesses and consumers. Read the rest of this entry �

Three men were accused of trying to threaten voters and block poll and campaign workers by the threat of force — one even brandishing what prosecutors call a deadly weapon.

Charges brought against three members of the New Black Panther Party for Self-Defense under the Bush administration have been dropped by the Obama Justice Department, FOX News has learned. Read the rest of this entry �

Today, Microsoft released a security advisory warning of a serious unpatched DirectX vulnerability, which attackers have already begun exploiting on the Internet. The vulnerability affects DirectX 9.0 (and earlier versions) running on Windows 2000, XP and Server 2003 computers. It does not seem to affect DirectX 10 running on Windows Vista or Server 2008 computers.

By Kathleen M. Howley

May 28 (Bloomberg) — Mortgage delinquencies and foreclosures rose to records in the first quarter and home-loan rates jumped to the highest since March as the government’s effort to revive the housing market lost momentum.

The U.S. delinquency rate climbed to a seasonally adjusted 9.12 percent and the share of loans entering foreclosure rose to 1.37 percent, the Mortgage Bankers Association said today. Both figures are the highest in records going back to 1972. Fixed rates rose to 4.91 percent, Freddie Mac said. New home sales fell 34 percent from April 2008, the Commerce Department said. Read the rest of this entry �

By: Mark Tapscott
Editorial Page Editor
05/27/09 3:37 PM EDT

Evidence appears to be mounting that the Obama administration has systematically targeted for closing Chrysler dealers who contributed to Repubicans. What started earlier this week as mainly a rumbling on the Right side of the Blogosphere has gathered some steam today with revelations that among the dealers being shut down are a GOP congressman and closing of competitors to a dealership chain partly owned by former Clinton White House chief of staff Mack McLarty. Read the rest of this entry �

By Wesley Young | Journal Reporter

Published: May 27, 2009

Forsyth County commissioners are set to approve a tax rate of 67.4 cents Thursday, although the vote is likely to split 4-3.

The conclusion of budget discussions today found Commissioners Beaufort Bailey, Ted Kaplan Walter Marshall and Gloria Whisenhunt in favor of a tax rate that includes an extra 1.1 cents on the tax rate.
That extra money will pay for servicing the debt on bonds the voters approved last November for Forsyth Technical Community College. Read the rest of this entry �